IntroJuice – Hiring for startups? How will subscription based recruitment work?

IntroJuice – Will subscription based hiring work?

As-a-Service solutions have dominated tech over the past few years. And challengers to manual processes and services are quickly being dreamt up and delivered across a multitude of industries. The biggest players typically sit within the world of Fintech with AI hot on its heals.

But recruitment?

The bane of every scaling company is hiring the right people. And the recruitment industry knows this, capitalising on its services to the tune of £40+ Billion per year in the UK alone. For context, that’s more spent on hiring than on legal services or pharmaceuticals.

So why does this age old industry generate so much revenue?

In a world of tech and evolution, hiring has remained the same. Largely perpetuated by the bigger players in the industry, the recruiting function in agency form has barely changed over the past 25 years. Sure, LinkedIn made the world an awful lot smaller, and AI is now starting to play it’s part in automating some of the more obvious aspects of the process but the majority remains incredibly reactive and manual (read time consuming and frustrating).

Traditional cost of hire?

For years, companies have had to decide between hiring direct (building talent teams and arranging career fairs) and using an external agency. As time has gone on the number of agencies has grown significantly. As of 2022, the count stood at over 30,000 of them. All vying to compete for the same clients, with the same candidates.
The noise created by recruiters has buoyed the market, making it harder and harder for employers to hire on their own. And this in turn has kept fees high. The average recruitment fee in the UK is just over £6,000 but in tech, that figure rises sharply – normally 15%-20% of your employees first year salary.
It's no wonder employers are looking for alternative ways to hire.

So the real question is will IntroJuice’s SaaS solution lower the cost?

In short, yes. Without compromising quality.

We’re looking at the entire hiring lifecycle, where hiring managers are investing the most amount of their time, and how automation can support. As hiring is both art and science, we’re starting off with tackling the top of the funnel (the sourcing aspect of hiring), enabling hiring managers better access to well curated pools of talent.

How will this reduce cost?

We won’t divulge all our secrets, but IntroJuice is aiming to save each ambitious company thousands, if not tens of thousands of pounds per year. A subscription fee seems like a small price to pay!

Interested in hearing how we do it? Sign up for news, updates and exclusive access when we go live.