(EDITOR’S NOTE: This is the fourth article in a seven-part series leading up to the “GIGTANK 365 Accelerator Pitch Night” July 27 in Chattanooga. To register, click here.)
By Tom Ballard, Chief Alliance Officer, PYA
“Talent is fed-up with recruiters, job boards, and LinkedIn,” the company’s Chief Technology Officer explains. “We are Match.com for talent and employers.”
Morrow and Hutson bring different but complementary backgrounds to the start-up. The former has more than 20 years of experience in recruiting, including starting and exiting two companies. Hutson has a background in managed services.
The way their system works is straightforward. Those seeking jobs – the talent – complete profiles as do employers looking for talent. Fetch’s proprietary algorithm, built on the knowledge Morrow gained during his 20-year recruiting career, searches the talent profiles to find the right match for jobs that are available.
“When a match is made, only the talent gets notified of the potential match,” Hutson says of the process that is described as “Get Fetched.” The decision on whether or not to pursue the opportunity is entirely made by the talent. If the answer is “no,” the process for that job with that individual stops immediately.
“We believe our process eliminates two to four weeks in the hiring process,” Hutson says. “We also create transparency and eliminate bias.”
Other unique features of Fetch include its pricing strategy and its use of salaried rather than commissioned coaches who are available to help talent throughout the process.
As far as the payment model, Hutson says the typical recruiting agency approach involves a fee of 20 to 25 percent of the first-year salary payable in a lump sum. Fetch charges a 16.5 percent fee that is paid over a 24-month period. Also, if the new hire leaves for any reason – firing or resignation – before the fee is paid, the employer’s financial obligation ends at that time.
“We think we’ve opened-up an untapped market for those who could not pay the upfront fees,” Hutson says.
Fetch was founded about a year ago and executed a soft launch in Birmingham in mid-February with 10 people in the talent category and another 10 employers. Within two weeks, the start-up had signed-up 150 individuals and 45 employers. When we interviewed Hutson earlier this month, the talent number had doubled and the employer number was almost 60 including Chattanooga.
Hutson will join other entrepreneurs participating in the summer “GIGTANK 365” accelerator that are pitching to investors on July 27. Fetch plans to expand its offering to other communities the size of Birmingham and Chattanooga.