I would like to quickly pick your brains regarding a new business venture I am considering. I am presently an HR Manager, however, I am fed up with the vast sums we spend on recruitment. Having gone from a large company to a medium size company I have seen first-hand the benefits of web based recruitment, however my existing employer can’t afford to invest the significant funds to get a functioning recruitment system up and running (estimated around £40,000 to have a good set up). This has led an opportunity which I believe could be mutually beneficial, but I wanted to complete some market research before committing.
My idea is to have a recruitment system (complete recruitment management with a fully searchable CV database) developed and then provide this to small to medium companies. The system will naturally be extremely powerful, fully managing the recruitment process, automating all administration and utilizing all CVs in a searchable database for future vacancies.
I believe that by making this extremely affordable (initially I looking at say £500 per year) enough employers will take advantage of this system to make it a viable venture and something that will save employers thousands by avoiding agency fees.
I would therefore greatly appreciate any feedback or ideas you have on the above.
I thank you in advance for your help.