TurboHire helping companies cut recruitment cycle times
City-based TurboHire created a software that will automate many of the processes involved in the recruitment. With the bulk of the work automated, the companies will be able to make a decision on the job positions quickly.
Hyderabad: Some of those who have applied for a job with a big company must have met with the `we will come back to you shortly’ retort from the companies. Companies take time because closing a recruitment involves many steps.
City-based TurboHire created a software that will automate many of the processes involved in the recruitment. With the bulk of the work automated, the companies will be able to make a decision on the job positions quickly. Also, it can use the available resources for dealing with key aspects like the offer letters, explaining the benefits, CTC and others, said Deepak Agrawal, Co-Founder and CEO.
The B2B product is aimed at companies that have perpetual hiring needs. “A lot of people are looking for jobs. The volume of applications the companies get is huge and many do not have adequate resources to act on those applications quickly. This slows down the employment cycle. They need to automate to reduce the time taken to finalise the candidates,” he said.
TurboHire automates sourcing of applications from various channels- job listing portals, referrals, vendors, partners and others. Then it also automates the screening of candidates, engagement with them including getting the required information like the expected salary, willingness to relocate and others. Later, it also schedules the interview on a video platform. It also automates offer letters taking into consideration the company policies and grades.
“Right now, we have automated about 85 per cent of the work involved in recruitment. Our effort is to increase it to 95 per cent shortly. With this, the companies will be able to reduce the time taken to recruit for vacant positions. Companies have to account for attrition and growth while making fresh appointments,” he said. It is now serving about 130 companies across sectors including automotive, IT, tyre, retail, lifestyle and others.
“The hiring trend is positive in automotive, IT, solar, electric vehicles and technology. Within technology, the IT services segment is cautious as many are factoring a possible recession in the US. If recession happens, the growth plans of IT companies will be affected. However, recession will also increase outsourcing to India. This will benefit the companies here,” he said.
Also, there will be instances of some faking their resumes or working for multiple companies. However, these will be very small to impact the hiring plans of companies, he said. The company had raised about Rs 15 crore this September. T-Hub also invested in it. It now has a 60-member team and has plans to take it 100 shortly. “The business environment in Hyderabad is supportive. We have built a technology and we can share our learnings with other startups here. We will also add more people locally,” said Agrawal.
