The dynamics of work are changing! The emergence of technologies like AI, automation, Big Data and Virtual reality are all altering the way people carry out their jobs. Advancement in technology played a key role in the trends of the recruiting industry from placing ads in the newspapers to the Internet.
Recruitment industry ripe for disruption!
Even though the recruitment industry remains a hard nut to crack, there is a growing set of startups looking to improve the processes available to companies looking for smarter ways to source and recruit highly skilled talent. This startup from Rotterdam is driving change in the stagnant graduate recruitment process.
Meet Magnet.me – A torch of hope!
Founded in 2012 by Vincent Karremans, Freek Schouten and Laurens van Nues, Magnet.me enable students to find the right internship, placement or graduate job and to directly connect with graduate employers.
According to the founders, Magnet.me was born out of their personal experiences and frustration with seeking career opportunities.In fact, they were faced with broken job sites which only listed 40 odd companies with huge recruitment budgets, aggressive recruitment agencies and a long list of careers fairs.
Based out of Rotterdam, this platform also allows employers to discover and find qualified applicants for their graduate jobs, schemes, placements and internships as well. At present, Magnet.me is active in both the Netherlands and the United Kingdom
Rabobank finances Magnet.me
Recently, the Dutch bank Rabobank has invested ‘a few tons’ in Magnet.me to support further growth. Notably, the recruitment platform raised €1 million funding back in 2017 which it used for accelerating their growth in the United Kingdom. Right now, Magnet.me is the biggest career platform for students.
Freek Schouten, co-founder of Magnet.me:
We are proud of the fact that Rabobank backs us. We will not only continue growing in the Netherlands and the United Kingdom but also start to expand toward the young professional market. This is a logical step and a great opportunity to innovate that market.
Disrupting the recruitment industry?
The platform uses algorithms to compare all information and when a student meets the matching criteria for a company, he or she receives a matchmaking request. Through this approach, the company gets a better candidate with less hassle at a lower cost.
The company has over 200,000 users and 2,500 companies — including Rabobank itself — that are attracting talent using Magnet.me.
Fabian Groeneveld, Account manager in the Rabobank Start-up & Scale-up team:
Their constant development and the growth they have achieved demonstrate Magnet.me’s understanding of where innovation within recruitment is needed and how to tackle this. They have achieved a lot already, which has strengthened our confidence in the business. It is a great example of the kind of innovative companies that Rabobank aims to finance.
What sets magnet.me apart?
When it comes to the career fair, a lot of startups and small companies misses out the opportunities to recruit the talent they need due to the lack of recruitment budget.
However, this platform helps those smaller companies (that does not have a recruitment budget) to profile themselves. By this way, they receive just as much exposure as the large ones. This creates a level playing field and offers access to a more complete offer in the market.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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