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ZYOIN - The New Entrant In The Online Job Referral Space

Zyoin is the latest entrant in online Job Referral space. This space is currently seeing dull business and if Techtribe news is taken into consideration then the market is dwindling for such services.

What's the differentiating factor for this portal?

No limit on the payout :

This site has no limit on referral earnings. The highest payout per job referral can even touch 7500 USD and there is also no limit on amount generated by one user.

User point system:

In this system a referral would still make some money even if the candidate being referred is not selected for the job. Though the amount is not huge but still this is definitely the most striking feature for this portal.

1. Referrer sends up a Profile: 5 Points

2. Candidate is a CV reject by Zyoin: - 5 points

3. Candidate Shortlist by Zyoin System and sent to Employer: 20 Points

4. Employer Rejects the CV or its a duplicate at Employer end: -25 Points

5. Employer Shortlist Referrer's CV: 25 Point

6. Employer calls Referrer's candidate for an Interview: 50 Points

7. Candidate does not attend Employer the Interview: -50 Points

Each point equals 1 Rupee.

A marketplace for recruitment consultants to refer their clients:

Their main focus seems to attract more recruitment consultants so as to provide quality and worthy candidates for jobs.

For his reason they don't even allow direct applying of jobs.

The only dampener for this site is lack of any networking services available.

We spoke to Krishan kumar, CEO, Zyoin Web Pvt Ltd to know more

How old is your startup and who are the team members?

We are 10 months old. Its founded by me and Anuj Agarwal.

Currently we are a 15 member team.

How is your business model different than Yellojobs,Techtribe or for that matter Reffster?

From business model perspective, we are not different. We are different in the way we are executing. Our aim is to build an E-bay kind of model for recruitment, where in Employers post their opening and freelance recruiters compete to close those openings.

Note the emphasis that we are giving on a new category of users called Freelance recruiters. With job market not doing that great, there are many recruitment professionals looking for opportunities like Zyoin.com to work from home and make their livelihood. We are capitalizing on this need. To ensure that freelancers get better understanding of the listed Job, we are soon launching features like Resume Ranking, Job description in Audio format etc.

Could you share some figures with us?

On an average we have 75-100 Jobs listed at Zyoin.com. As of now these Jobs are from IT sector, but we now started going to non-IT sectors as well. So we expect this no to grow in next few weeks, because of adding more non-IT verticals

On an average we receive around 100 referral per day against 75-100 listed Jobs. We have 1000+ recruiter added on our portal and 20% of them are active at any given time. Our total registered user base is more than 10,000.

Recruitment business is facing some heat in current days of turbulence.How do you foresee the future of online referral space and also your viewpoint on recruitment space.

Yes, recruitment is definitely slow. That's being the reason; we do not have much problem attracting freelance recruiter to work on our portal. Many such recruiters are laid off and they find Zyoin.com kind of model as the only option available. This is good for Employers too to take advantage of recruiting at lower fee than regular one month salary model.

Most of the requirements you can listed on our portal are coming from smaller organizations, which is good to pilot and perfect our recruitment delivery model. Once the Job market is back to normal, we will be better prepare to scale up our operations.

What's your viewpoint on user point system?

The amount per resume that you see is some thing that we at Zyoin.com are paying without getting any thing from end customer. The actual reward is quiet high and you can see that once you search for a Job. The reward amount is listed against each Job and one gets this amount only when successful reference happens. This typically is a 2-3 months cycle and we wanted to get the recruiter involved by paying them some thing periodically.

The per resume payment is being done to encourage referrals to send qualified resume and cover their out of pocket expenses. Recruiters should not think twice while making calls etc to get a qualified candidate apply for a Job.

How do you track the referrals?(technology and processing)

Once a recruiter logs in he can check the status of his referral in real time. The way it works is like this:

Some one sends us a referral by uploading all the required details of the candidate.
System automatically rejects a good no of profile, they are not matching the Job criteria.
The short listed resumes go to Zyoin Client manager handing the customer.
Zyoin client manager further shortlists the resume
Employer reviews this final shortlist candidates and starts interviewing these candidates.
As the interview progresses, Zyoin client manager keeps updating the status of the candidates, which is visible to Client, Recruiter as well to the candidate. Everything is online.

Why don't you provide direct applying for job by a user?

Krishna: Actually we had this feature earlier, but we disabled it. This is conflicting to our business model. We want to encourage referrals and want even a good candidate to come thru referral.

We are re-introducing direct application with a twist. If a direct application comes, we will send that application to our preferred referrers, who would validate candidate application for a Job and if he finds that candidate good enough for that Job, he will refer that candidate again on the portal.

This way direct application is back and at the same time we reward our loyal referrer base as well.

Final note:

Some companies have even started their own online referral system so to collaborate with more variety of recruitment consultants and thus lowering the commission paid to middle person(referral sites),that could affect the fortune of such job referral sites.

Although the recruitment space is loosing steam but there is still demand for quality manpower by companies and this site being a marketplace could strike chord with recruitment consultants who are loosing direct business with firms.

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TieUps Update: Bharatmatrimony - Idea / ACK - Vodafone / Shaadi - Atom / Yatra - IRCTC

Tieups are the need of the hour. The number of tie ups seem to be increasing every week. Also a common trend is the web - mobile tie ups wherein the web companies are tying up with either mobile content companies, payment companies or operators for exposure on mobile.

Here are 4 tieups on similar lines:

Bharatmatrimony Tiesup with Idea Cellular

BharatMatrimony.com announced its partnership with Idea Cellular to launch customized matrimony services for mobile users. Idea subscribers can access Bharatmatrimony's services on their GPRS enabled handsets, across the country.
There are about 15 million Bharatmatrimony subscribers and about 40 million Idea subscribers.
Bharatmatrimony has customized its services for Idea Cellular and features such as searching for prospective brides and grooms; viewing individual profile, 'Express interest' etc will be available free of cost to Idea subscribers while one would be charged Rs. 100 per month, subscribers will get to view unlimited profiles and access 5 contacts free of cost. The service can be accessed on Idea's WAP portal http://wap.Ideafresh.com or at http://Idea.bharatmatrimony.com on the mobile internet browser by selecting Idea GPRS option.

Amar Chitra Katha stories on your Vodafone

AckMedia has tied up with mobile operator Vodafone to make available Amar Chitra Katha stories to their subscribers. Because of this tie up now users would be able to listen to folk stories, read entire Amar Chitra Katha comics, download ringtones and wallpapers, take quizzes and play games based on the stories. This service would have a monthly subscription charge for through service is Rs. 30, while for every video download users will be charged Rs. 5; every ringtone download will be charged Rs. 15; and Rs. 50 for every game that a user downloads.

We had interviewed the COO of ACKMedia here before who had stated his plans for the company and its digital strategy in the future.

Shaadi ties up with Atom for Alternative Payments

Shaadi.com has added another mode of payment option to its existing payment option by tying up with Atom Technologies. Now users would be able to pay Shaadi via atom’s m-payments platform. This tieup is targetted at NRIs as it will allow them to subscribe to Shaadi.com by calling in and will also enable them to pay in the local currency.

This move is aimed at driving subscriptions from NRIs which form a sizeable chunk of shaadi’s subscribers.

Yatra Partners with IRCTC

Yatra.com has followed the footsteps of competitor Cleartrip and tied up with IIRCTC for providing train bookings on its website. IRCTC has provided the reservation backend while the booking site has been created by Yatra.com.

Just like cleartrip via this service, users can view all available trains, timings, fares and seat availability for 5 days on a single screen, in addition to be book and cancel online. Tatkal seats and senior citizen quotas too are available for booking.

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Webchutney Launches Mobile Agency - Culture Mafia - Need For Exclusive Mobile Agencies?

Webchutney which was ranked as the no.1 Digital agency according to a report has now announced the launch of its mobile marketing arm Culture Mafia. Culture Mafia will be full service independent mobile agency, which will integrate mobile marketing, advertising, and mobile internet development supported with in-house media and technology capabilities.

Is there a need for a specialist mobile agency?

Lets look at the value chain for mobile advertising first:

Brands -> Marketing/buying agencies -> Enablers -> Content Providers -> Aggregators -> Device makers -> Wireless operator -> Subscribers

The value chain is longer due multiple mobile formats and multiple operators having far more control over content thats pushed through their channels. Unlike internet where format has no role and ISP’s are mere carriers.

Various modes of mobile advertising as well

Sms/mms
WAP/GPRS (Display/Text)
Voice calls
IVR
Blue casting/bluetooth
2d bar codes DM/QR Scan codes

Also the Indian market is very very nascent

According to Manish Vij of Quasar the Indian mobile market statistics are like the following:

15 mil GPRS users / 50% active users
52 cr revenue in 2008
Growth 60% YoY

Besides for the above statistics the recent mobile user base numbers are very very encouraging to say the least.

Question remains - Is there a need for a dedicated mobile agency? Cant current digital agencies handle mobile as well?

Given all the above factors one would have to admit that mobile is a different animal than internet. The screen size, the multiple formats, modes of advertising make it a far more challenging medium for advertising that even the online medium. Some people Ive interacted with are of the opinion that mobile is a communication device and not a media to advertise on. Their take is any mobile ad (especially sms) is nothing but intrusive advertising. While I may agree to some extent I still feel that these are very early days in the life cycle of the mobile medium to pass a concrete judgement. Another 4-5 years shall surely paint a clearer picture.

On the whole this move by Webchutney also seems a way to derisk itself during a downturn as mobile advertising might see a jump during these tough times. The challenge for chutney would be to scale all these agencies when the good times are back. For now this strategy should work.

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