Business Daily from THE HINDU group of publications Wednesday, Aug 01, 2007 ePaper |
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Business Models Info-Tech - Human Resources techTribe offers cash incentives for referrals
V. Rishi Kumar Hyderabad, July 30Career networking platform techTribe has come up with an offering, frontFoot, positioned as a referral service with a difference. Those who refer the right techie or professional get paid Rs 10,000 to Rs 15,000 if those referred get hired. This also offers the possibility of lateral shifts to those in the middle career path.This platform is meant for those building careers, not merely seeking jobs. It is tailor-made for those who have more than five years’ experience. The company has over half a million invitees on board and is set to freeze alliances with more than 50 Indian companies by month-end. Biz model
The company model is interesting. It innovates at its US headquarters to serve operations in India. Buoyed by its business model and future potential, and following up on its angel investments, the company has received first round of funding led by Canaan Partners. However, the company’s Chief Executive Officer, Mr Rohit Agarwal, didn’t reveal the size of funding, citing non-disclosure agreement and competition. Speaking to Business Line, Mr Agarwal said frontFoot is a patent pending process that leverages the entire techTribe network of professionals to help connect the right candidates to the right job opportunity. It allows any member of techTribe to get a referral bonus that is normally ly offered by companiesto their employees. Business intelligence
The company also uses cognitive and business intelligence capabilities to bring together people with similar interests. Significantly, if one were searching for some specified information, this could be posted on the techTribe site and hundreds of professionals in that area might contribute their responses. The response that suits the questioner could then be picked up. This is yet another service techTribe is set to roll out shortly.
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