MoneyBackJobs.com is getting a makeover that includes a new URL, new services, and fresh partnerships.
CEO Mark Thomas said that they’re rolling out the site this week with a new name, WorkYourCareer.com. In addition, another service has been added that enables job seekers to bid on interview times, pay a small fee, and then receive a guaranteed interview with a company.
Employers can post jobs for free, and they get to keep 50 percent of the money that’s raised during the bidding process. They can choose to give the money back to the job seeker, keep it, or donate it to charity.
So how does the site ensure that qualified job seekers will get an interview if there is a bidding process involved?
Thomas said, “Employers have the capability to choose which candidates get to bid on interview times so that only qualified people get interviews, and employers can even phone screen them in advance with no penalty. All that we ask is that if the employer screens them and they meet their qualifications, that they bring them in for an interview.”
This is an entirely different approach then the former model, which rewarded job seekers a bonus of up to 5 to 7 percent of their salary and another cash bonus if the job seeker agreed to keep their resume exclusively on MoneyBackJobs.
Companies formerly paid $50 for job postings and then another 12 percent of the candidate’s starting salary to the job site after the person was hired. Now if an employer posts a job via the MoneyBackJobs new Bonus Program, they must pay a 4-10 percent fee upon hire. All or most of the fee goes back to the candidate in the form of a sign-on bonus.
The new model is a bold move, especially considering that job seekers may be unwilling or unable to spend money on services in such an unstable economy. But there is some evidence that job seekers are willing to do anything and everything to snag a coveted interview.
Thomas said there are already a few partnerships in the hopper.
“We’ve partnered with Itzbig.com to have all of our jobs posted to their site as well, so employers would be getting free access to over 280,000 candidates that Itzbig already has.”
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