Talview, HRtech startup that aids enterprises in streamlining the hiring process for both employers and candidates, went through a re-brand (previously "Interview Master") back in 2014, and has only seen success since: the company has grown 100% year-over-year since it came to fruition.
When Sanjoe Jose, Tom Jose, Subramanian ‘Mani’ K. and Jobin Jose founded their HRtech startup Interview Master (now Talview) in 2012, the aim was to fill one gap: help employers screen candidates effectively. And in the next two years of operations, this sharp focus helped them gain yearly revenue of $300K, but at the same time, they also realised they were burning through resources at twice the pace they should be, which would make it difficult to scale the revenue.
Clearly, it was time to change the strategy.
“One of the learnings from the experience was that if we have to build a large company by selling B2B software in a new category, we need to solve a problem significant enough so that we get enough payment to sustain an expensive enterprise field salesforce,” said Sanjoe.
Upon further research, the HRtech startup found that ‘time to hire’ is the most crucial aspect for enterprises. This also impacts other key hiring metrics like Quality of Hire since the best candidates are only available in the market for 10 days; the hiring process experience for candidates — 57% drop off the hiring funnel attributing it to a long hiring process — and cost of hire.
Read more here.
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