Update: Shine.com parent HT Media has also picked up 40% stake in MyParichay, reports Techcircle, citing information shared by J. Sagar Associates. This follows Info Edge acquiring the business of Toostep Consultancy Pvt Ltd for social business solutions. So who’s next? Will TimesJobs by a social recruitment startup now?
While the financial details of the partnership were not disclosed, or whether this deal is exclusive (unlikely), Shine.com said that this partnership will allow recruiters reach out to job seekers on Facebook and contact potential candidates through MyParichay’s referral feature.
According to MyParichay website, it offers plug-and-play social recruitment solutions to clients who can then integrate these solutions to their existing recruitment tools and processes.
Among the solutions offered include employee branding solutions like the ability to post and distribute jobs across Facebook, Twitter, and Linkedin among others, enabling fans to participate in a company’s recruitment initiatives by offering the ability to share job listings and refer candidates, targeted promotion based on Age, Gender, Location, Employer, and Interest for talent sourcing, API based integration and analytics on their employee engagement and recruitment activities.
It also offers employee referral solutions like Employee Parichay which allows searching and screening of employees’ referrals without their intervention, gamification solutions to incentivize employee participation and detailed reports to monitor the employee referral program.
That being said, it is not clear if HT Media plans to roll out these services on its website or as a Facebook app or both, since there is no mention about it on the Shine.com website or MyParichay website. However, we did notice a HT Media Facebook app powered by MyParichay, which allowed users to search for jobs based on location and job position, although the Facebook app offered only five jobs at the time of writing this article.
According to the company website, MyParichay claims to allow users search over 2 million jobs across job sites, company pages and various online sources. It also claims to have over 7 million profiles and is adding 1 million searchable profiles every month. Among its clientele include Genpact, Kotak Life Insurance, People Strong, Quattro, and Summit HR.
HT Media claims that Shine.com has 10 million candidate database and over 150,000 job openings on the site; in October 2012, it had claimed an “engaged” candidate database of 5.2 million as of September 30, 2012 (which we assume is an active database).
Similar Developments: With professional social networking portals like LinkedIn and Facebook job boards like BranchOut gaining prominence as job search-recruitment sites, it looks like traditional job portals are now introducing social hiring features to its sites to maintain its customer base and stay relevant to recruiters in the country.
In October 2012, InfoEdge had acquired the business of Toostep Consultancy Pvt Ltd on a slump sale basis, to integrate its recruitment management solutions product to Naukri.com and implement social features on its site. Speaking with MediaNama, Info Edge CEO Hitesh Oberoi had said that the company would like to support integration with various social networks, as well as develop new social features through this acquisition.
Last year, Monster India had also launched a Facebook-based professional networking app called BeKnown to allow Facebook users search and apply for relevant jobs on the Facebook platform.