The Opportunity of Disrupting Talent

Over 3.4m recruiters worldwide, both at the agencies and internal HR, generate 600bn revenue annually using antiquated platforms such as job boards and staffing agencies. Although recruiters garner significant amounts of dollars, they capture only 15% of successful hiring. The remaining 85% of hiring occurs through direct networking and referrals.

For building teams, referrals are proven to be the superior method. This is evident as approximately 70% of skilled employed individuals are not actively searching for job opportunities, yet up to 90% remain open to new possibilities. As a result, personal networks account for approximately 60% of job fulfillment worldwide.

Statistically, the best ROI source of talent is through referrals. Referrals are 4x more likely to pass through the interview and stay 8x longer than other recruitment sources, resulting in 25% more profits for the business. All the best companies in the world run great referral-based programs internally, including Google, Amazon, Goldman Sachs, and more. But because they are kept internal, building teams through direct networking can only be done at scale if you are already an established institution.

We believe that a native Web3 solution is a way forward to unlock the power of recruitment through community referrals and solve the problems in the current ecosystem, potentially disrupting the trillion-dollar recruitment and HR market.

Bondex aims to build the next-generation ecosystem that facilitates the exchange of skills for remuneration in the digitized economy. After consolidating the job market for the Web 3 industries, we will expand our innovative model into the general technology talent market and, eventually, all industries. Further streamlining the talent markets and helping to make the global labor market more efficient. In addition, Bondex Phase 2 includes expanding into additional verticals, i.e., freelancers.

Operating at the nexus of several large and fragmented markets presents a large total of the addressable market:

2022

Staffing: $650 billion USD Freelancing: $5.1 billion USD Digital payments: $58.5 billion USD HR Mgmt Collaboration: $19.38 billion USD

The substantial TAM (Total Available Market) opportunity for Bondex is evident from these statistics. The issues we address directly impact the economic well-being of millions of individuals and numerous global corporations. As our platform and algorithms are validated, we anticipate expanding our SOM (Serviceable Obtainable Market) in the Web3 hiring market and our SAM (Serviceable Available Market) across all verticals in the Web3 hiring market. We will be uniquely positioned to deliver the organization and innovation this rapidly shifting landscape requires.