One of the co founders of a very successful internet company recently told me ” CEOs are nothing but glorified recruiters”. Now thats how crucial the recruitment function is. Yet, for any organisation large or small, recruitment remains one of the most important unsolved challenges that the company faces. During their careers at Yahoo, Manjunath Talwar and Abhijeet Khasnis, dealt with this problem of recruitment day in and day out and finally decided to solve it themselves. This is how MyNoticePeriod was born.
The jobsites available today have too many inactive job seekers. Most people upload their resumes on these sites are not really looking for a change. Also, once an offer is rolled out to any candidate, there is a long notice period before the person can actually join the new organisation. This long wait is a big problem for the recruiting organisations.Also, jobseekers looking for a job are most of the times unaware of the salaries they should expect. Salary negotiations happen at a much later stage of the recruitment process and therefore many job offers are rejected at a later stage. All these challenges take up a lot of time and cost for the recruiters and does not guarantee a successful hire at the end of this tedious process.
MyNoticePriod solves this problem by having multiple levels of filters built into their product. The company makes sure that the jobseekers registering on their site are already on a notice period. This assures that the person is actively looking for a job and can join a new organisation within a maximum of 90 days. Also, since the jobseeker is already on notice period, there is a better clarity regarding expected salaries. The company makes it mandatory for a job seeker to specify their expected salary making sure that job offers are not rejected at a later stage due to salary expectations. MyNoticePeriod claims to have 20 times better conversion rates that other job sites.
MyNoticePeriod was started in early 2014 by Manjunath Talwar and Abhijeet Khasnis, both ex Yahoo employees. Abhijit has 15+ years of working in the tech industry and takes care of the technology side of things at MyNoticePeriod. Manjunath, who also has more than 15 years of work experience is an IIM Kozhikode MBA and takes care of the sales and marketing side of MyNoticePeriod. Ravi Gururaj, a member of NASSCOM Product & Executive Council has also recently joined them as an advisor. Ravi is also one of the investors in the company.
The company today has 45000+ registered job seekers and 3000+ registered recruiters. They have a mobile app coming up in the next month. For the next few months, marketing and expanding their operations will remain the focus areas for the company. They have embarked on a huge marketing campaign through social media and other traditional forms of advertising. They plan on expanding to Singapore before the end of this year.
In September this year the company raised INR 2 Crore in Seed Funding. The funding was led by IDG Ventures India. Other investors include Prashant Kirtane, chief technology officer and co-founder of travelmob.com; Shamsunder Talreja, owner of JetSet Capital; Raghu Krishnananda, former Yahoo engineering leader; and Ravi Gururaj of Frictionless Ventures. The company said it will use the funds to strengthen the team, scale up revenues and invest in deepening technology that will deliver higher level of hiring efficiencies to customers.