by Jeremy Henderson
Head of Delivery
I have an exciting announcement to share.
The official launch of a new recruitment platform called Matchfield, which intelligently connects in-demand talent with tough-to-fill roles in the consulting engineering industry.
Before I tell you about Matchfield, I think there is value in sharing the story of how we got here.
The widespread popularity of LinkedIn and other online resources means that our industry’s entire candidate database is publicly available online.
This has driven great cost-savings for employers, as they are able to do more of their proactive talent acquisition in-house, and are less reliant on using third party recruitment agencies.
It also means there is no longer any competitive advantage to be had in locating talent. When consulting engineering companies have a tough-to-fill position, it’s now easy to find people, but still hard to actually hire them.
In-demand talent have been bombarded with job invitations so they are increasingly “not open” to new job opportunities, or they leave cold calls and emails from employers unanswered.
There’s clearly a missing link in the evolution of recruitment towards that mythical time when computers and AI will magically connect employers with great candidates for their tough-to-fill roles.
What’s missing? Today’s recruitment platforms don’t know what candidates want.
So why doesn’t LinkedIn just track each candidate’s detailed job preferences and build a better matching service?
The challenge is that every specific industry has its own specific type of candidate preferences. Consulting engineers value slightly different things in their work than other types of engineers, and their work preferences are completely different than other industries, like Healthcare, Law, or Education.
The candidate preferences data is so unique that it will be up to each industry to come up with their own employment matching system.
This is happening. There are dozens of matching platforms popping up in a variety of industries and professions. A tech career marketplace called Hired has raised over $130M and are scaling rapidly by matching top talent with leading tech companies.
This is where the evolution of passive candidate recruitment has brought us to – industry specific job matching platforms. And that’s where we come in.
A year and a half ago I had my own engineering recruitment agency and had been working in the space for over 10 years.
I witnessed recruiting agencies becoming less relevant and came to believe that the big thing holding us back was the insistence of pricing our services as a percentage of salary, contingent upon hire.
This pricing model drives bad behaviour on all sides:
- Recruiters are incentivized to push candidates onto employers.
- Employers believe they’re better off having multiple agencies compete.
- Candidates try to go around the recruiter so they’re hired without a fee.
Plus, since agencies typically fill only 20-40% of their job orders, they need to charge large fees to make up for all the roles they do not get paid for.
At the same time, a 3rd party can play a valuable role as matchmaker in the recruitment process. It’s not efficient for each employer to try and connect with each candidate to see if there’s a fit. This is a big reason why in-demand candidates don’t respond to employer outreach.
This realization – that the 3rd party agency has a critical role, but the traditional business model was creating unnecessary friction – led me to start over with a new kind of offering.
In January of 2017 I launched wayHire as a flat-fee matching service for the consulting engineering industry. Employers like Hatch, GHD and Gannett Fleming gave us their toughest-to-fill jobs and we sourced and engaged candidates for an affordable, up-front fee, priced per job, not per hire.
The wayHire business – and candidate database – grew quickly through word of mouth and referrals. After a frenetic year, it was clear we needed more investment and resources to handle demand.
I approached the Ian Martin Group, who are known as the most progressive recruitment company around. After seeing we shared the same beliefs about the future of recruiting, we quickly joined forces to build out a scalable solution for our industry.
That brings us to today’s announcement, which was made at the Engineering Human Resources Association’s annual conference. The theme of the conference is The Next Generation, and that’s exactly what Matchfield is.
We have assembled a great team that has completely rebuilt wayHire’s matching technology and delivery workflow. Our mission is to rapidly expand our database of candidate profiles and most importantly – their preferences – to provide flat-fee connections with passive candidates who are qualified and interested in hard-to-fill jobs within the consulting engineering industry.
The real beauty of this matching system is that as our database of candidate profiles grows, the speed, efficiency and cost-savings of the model improves.
Hatch is one of our earliest and largest clients. Amar Grewal leads global talent acquisition there and I blushed when I heard that he said:
“I am convinced this matching service is the future of recruiting for our industry.”
I’ve literally pulled my hair out for over 10 years trying to more efficiently match great engineers with tough-to-fill roles. Now I’m surrounded by an experienced team of people who are just as passionate about this opportunity. I truly feel like the future is finally here.
Matchfield is a robust platform that has already proven to be much more efficient than employer InMails, and much more affordable than recruitment agencies. And it only gets better as more candidates and employers connect with us, so with today’s launch of Matchfield we cordially invite:
Candidates – please register
Employers – please schedule a meeting
Everyone – please share the news: