This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
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1. THE BEGINNING
This innovation initially came to life when…
A group of us worked at Vision 6 (an email marketing company). We were constantly frustrated about the pain of finding and hiring great staff.
We were growing fast and bringing new people into our team should’ve been a positive experience, but we dreaded it. We had cobbled-together systems that consisted of excel spreadsheets and interview questions but it was terribly inefficient.
We got bombarded with hundreds of resumes and recruiters added very little value for what they charged. The recruitment process was broken so we decided to use our SaaS experience to fix it – Outfound was born.
2. WHAT & HOW
The purpose of this innovation is to…
…use smart technology to make it much easier for businesses to find, filter, test and hire the best candidates for a position. It aims to help SMEs greatly reduce the time and expense of recruiting.
It does this by…
…using an online questionnaire where the employer can select from questions and answers within the platform or write their own (weighted by importance).
The candidate then answers the questions and the algorithm in the backend gives the employer a percentage score out of 100 for each applicant. The employer then selects only the top candidates to proceed through the process.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
Employers no longer have to wade through piles of resumes looking for a great hire. Our technology does the heavy lifting so the top candidates rise to the top.
One of our beta users (a new cafe) advertised four positions, received over 800 applications and hired four amazingly talented people in less than a week – only reviewing resumes of the top applicants.
Its various benefits to the customer/end-user include…
- an application tracking system including experience and psychometric filter questions, interview bookings / emails and soon police checks and work tests
- a mechanism whereby the employer sets a financial reward for the right hire
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Current recruitment practices are either time consuming or budget consuming. Seek represents 70 per cent of online job ads in Australia but is still very much a manual process. You can book a Seek ad through Outfound and get all the filtering muscle for free. There’s also no need to use recruiters charging up to 20 per cent commission ($20,000 on a $100,000 hire).
Its predecessors/competitors include…
There are several application tracking systems out there. Some are legacy systems used by big corporates and cost several hundred thousand dollars. There are also reward based platforms but to our knowledge there isn’t a product that combines the two.
5. TARGET MARKET
It is made for…
SMEs who currently have recruitment pain. The people who face the same hiring quagmire every time someone leaves or they want to grow their team.
Recruitment worldwide is a $380 billion industry. In Australia alone SME hiring is worth 7 billion. SMEs represent 70 per cent of all private sector employment but their current tools are inadequate – we’d like to change that by giving SMEs a genuine choice that can grow with their business.
Outfound is a simple to use DIY system that aims to disrupt the players that have been taking the piss in this space for far too long.
It is available for sale through…
Outfound.com While we’re in beta it’s currently free to create an account and invite colleagues, free to post a job to social media or your website and free to use our ATS. Also get 20 per cent off all future paid plans.
Our marketing strategy is to…
Get Outfound in the hands of businesses with the most persistent recruitment pain by seeking out (no pun intended) the most influential people in the HR industry – those leaders with their own sizable audiences who genuinely see value in our product and willingly promote it through their networks.
We will also speak at all the major HR tech conferences.
FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
