So, for the Gen-X and older folks reading this I first probably need to explain what Venmo is. Venmo is a digital payment system, like PayPal (Venmo is actually owned by PayPal) but different. It’s a mobile app that allows you to make payments between friends and socialize the exchange. Out to dinner, want to easily split the check, one person pays, the others “Venmo” them their share and you get this cool friend feed to see what everyone is doing.
I’ve got three GenZ sons and they Venmo. They don’t carry cash anymore, so when they need to exchange funds with friends, it’s all done on their smartphones.
So, we constantly see talent acquisition and HR technology call themselves the “Tinder” of recruitment, or the “Uber of HR”, or some other stupid comparison to make themselves sound way cooler than they really are. I figured no one is saying they’re the “Venmo” of Recruitment, so what the hell, I’m stealing it before anyone else can!
Here’s my Venmo for Recruiting product. It’s a mobile, crowd-sourced app that shows your network where everyone is interviewing and allows you to share information, contacts, questions, reactions, etc. of your interview experience. Candidates can crowd source positions with each other, ask for help in making connections with companies they’re interviewing with, and share how a certain hiring manager might be to work for.
I’m going to start there. Only candidates, no employers, to build traction. Completely free, I’ll live off my angel funding for the first three years on our way to 50 million users. Then, we turn on the employer portion, ala Glassdoor but better, that will allow employers to see what networks are saying about them and their jobs, but not allow any responses or interactions.
You get to see this new voyeuristic kind of experience that is hidden camera in nature to know what candidates truly think about your organization, your hiring managers, your interview experience, your jobs, etc. Then, it’s up to you to make some decisions on how to change what you don’t like, highlight what’s going well, and basically find ways to use the data from our “Venmo of Recruiting” (it’s trademarked!).
If I know anything, I know TA leaders will pay for inside information to what candidates truly think about them. They’ll pay a lot! Also, they’ll continue to pay to see how that data changes with the changes they make. How cool would it be to have this kind of lab environment and be able to test out pieces of your candidate experience and see real-time feedback?
Also, how cool would it be to have a network sharing real information about interviewing, jobs, organizations, etc., on a mobile platform within your trusted network if you’re a candidate? Venmo for Recruiting. I’m calling it “FeedMo.us” – Feedback and More.
Feedmo.us is now taking meetings with angel investors. Just send me a note if you’re interested in being a part of Venmo for Recruiting!