The current options in the search for talent

1. Recruitment Agencies

The typical channel for senior-level or highly specialized searches, this approach outsources candidate search and initial screening to providers such as Adecco, Randstad, and Korn Ferry. This hands-on approach commands high fees, up to 20-30% of a placed candidate’s first-year salary, plus tax.

2. Job Boards

Career portals like Monster, Indeed, SimplyHired, and LinkedIn provide online platforms for employers to advertise job opportunities, while applicants can efficiently search for and submit applications. However, these platforms often generate a large influx of applications of varying quality, causing employers to invest significant time in sifting through candidates. Moreover, talent platforms frequently encounter the challenge of low responsiveness and engagement from applicants, primarily due to the absence of incentives beyond job-seeking or posting. In contrast, Bondex takes a different approach by offering multiple opportunities for users to benefit from its gamified platform. This unique approach is set to cultivate a highly engaged user base.

3. DigitalTalentMarketplaces

The increasing shift towards on-demand workforce models, which are more cost-effective than hiring full-time employees, has led companies to rely on digital talent marketplaces and freelancers to fulfill skill gaps. These digital marketplaces offer advantages such as access to global talent, transparency, efficiency, and streamlined process management. However, established platforms like Fiverr, Upwork, Toptal, and others tend to commoditize users by charging high commissions ranging from 20% to 50% of their earnings. Acting as fee brokers provisioning services, they often lack the requisite resources to support talent throughout their professional lifecycle. Additionally, these platforms often fail to

involve users meaningfully in their growth and community, and their user data access and fee policies can be restrictive and burdensome.

The aforementioned platforms focus on specific aspects of sourcing and managing talent and the professional life cycle for individuals. Work, however, is holistic. A new model is beckoned for seamless end-to-end solutions based on shared ownership and long-term value creation rather than the current value chain that is only as strong as its weakest link and focus.