How does Asana track candidate recruitment
Change in the labor market: When companies apply to skilled workers
In the modern job market, skilled workers are in great demand. However, it is often the case that these professionals do not feel comfortable in their position, partly because they simply do not know companies that would be a better fit. Christoph Zöller, Co-Founder and CEO of Instaffo, explains how this can be achieved through the use of A.I. can change.
FounderDaily: Hello Christoph. Instaffo brings specialists and employers together through the use of artificial intelligence. How exactly does it work?
Christoph from Instaffo: Instaffo is a reverse recruiting platform on which companies apply to qualified specialists. Specialists create a profile with their qualifications, desired criteria and needs free of charge. In this way they show which positions and companies they are interested in. Companies, in turn, are proactively suggested specialists and executives who exactly fit their position. Through the use of artificial intelligence, really suitable candidates can be found much faster and more efficiently than if each profile had to be read individually and compared with vacancies.
Companies can also store job advertisements and the associated requirement profiles. If a certain candidate fits a position, both sides are informed that a "match" has been found. The applicant receives information about the company and can then either agree that information can be exchanged in order to start a conversation, or decline if the offer is irrelevant to him. If there is a mutual interest, the parties can clarify details directly with each other.
GründerDaily: So far, recruiters have often played a similar role. What advantages do you offer over these?
Christoph from Instaffo: The advantage over traditional recruitment agencies is the automation of the processes, which makes recruiting cheaper and more precise. Matching algorithms that filter out suitable specialists and managers and suggest them to the company are responsible for this. This is beneficial for both parties because the application process becomes much more efficient and leads to better results.
At the same time, the matching is based on target-oriented profiles of the candidates and the companies, while recruiters can only access what is available to them in terms of data about the candidates, for example via the résumés or LinkedIn.
However, many people have skills that they do not state there. This is often knowledge that you have acquired yourself.
Direct communication is important so that the company and candidate can find out more quickly how they can benefit from each other. The way to the first conversation took too long for us, so the company and candidate can now clarify all questions via direct chat right from the start. This saves a lot of work and makes the application process even more efficient.
GründerDaily: What is your success rate with the placement? How many applicants are actually taken on after you have proposed them to an employer?
Christoph from Instaffo: Our success rate is over 75 percent. In other words, more than three quarters of all matches at the employer also make it into the interview process. The more feedback we then get from the companies, the better their future matches will be.
GründerDaily: How did the idea for Instaffo come about?
Instaffo was born out of exactly this idea of creating happy and actually functioning employer-employee relationships. To make this possible, both parties really have to be a good fit.
Those who work in the wrong position or cannot identify with the values of the company they work for will not be happy in the long term.
Companies have to rethink, offer employees more benefits and respond more closely to the needs of specialists.
When criteria, wishes and needs are clarified and really match, employees can flourish in their jobs - and employers benefit from it.
GründerDaily: You have grown rapidly yourself since it was founded in 2014, especially with regard to the number of employees. How did that work and what did you learn during this time?
Christoph from Instaffo: It's true that we grew relatively quickly - but we also learned a lot along the way. When we founded, we didn't have a large network and only a small budget, which is why we mainly recruited employees from our circle of friends and acquaintances. That worked very well in the beginning, because there was little contradiction and hardly any quarrels - but also few constructive arguments.
A good atmosphere is very important for the working atmosphere, but diversity is even more important. I am convinced that different characters and strengths are what really make a company move forward.
That is why we make sure that we always rely on multiple and independent assessments in the recruiting process. This experience also influenced us in the development of our platform.
GründerDaily: How did you finance the software development at the beginning?
Christoph from Instaffo: We developed the platform with around 850,000 euros of start-up capital and went on the market at the beginning of 2017. User and customer numbers have grown rapidly and we have continuously developed Instaffo. Most recently, we were able to close Series A with two million euros.
GründerDaily: What are you going to do with this money?
Christoph from Instaffo: We will use the new capital to expand the platform, automate reverse recruiting even more and integrate blockchain features for greater protection against counterfeiting.
To date, Instaffo has been financed with a total volume of around 4.5 million euros. With more than 600 paying corporate customers in Germany, Austria and Switzerland, we also turned over around 1.7 million euros last year.
GründerDaily: What is the biggest challenge you have encountered so far?
Christoph from Instaffo: At the beginning we tried out a lot, for example we experimented with various products or pursued projects that simply did not prove themselves in the further course. New insights have always brought us further, but overall no clear focus was discernible. Business development has definitely suffered as a result.
GründerDaily: How did that help you? And what are your goals for the next few years?
It was good that, despite the distraction, we grew a lot and did not fail to use these learnings and make deductions for further development. In this way, we now know exactly where we want to go and what needs to be done to achieve it. And we have a clear strategic focus: by 2024, we want to become the No. 1 brand in reverse recruiting.
GründerDaily: Christoph, thank you very much for this interesting conversation. We wish you continued success!
Key facts about Instaffo GmbH
- Founded in the year: 2014
- Headquarters in: Heidelberg
- Our current team consists of: 54 colleagues
- The first funding was provided by / via: Carsten Erdt and Alfred Keschtges (invenio Group AG)
- So far, the following have helped me in particular: Alfred Keschtges and Carsten Erdt as my closest mentors
- The following are particularly important to me in everyday work:
- People: My direct management team and my assistant Hannah Diez
- Tools: Slack, Asana, Salesforce and currently my Bitcoin ticker
- Internet pages: waitbutwhy.com
- Christoph Zöller
- Instaffo GmbH
- +49 6221 6484940
- [email protected]
Tags:BlockchainFinancingFounder StoryInstaffoEmployeesHiring EmployeesRecruiting
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