Tencil is a recruitment platform that splits its hiring fee 50-50 with candidates, providing them with a bonus paid out over their first year of employment. This model reduces recruitment costs for CFOs by 50% while incentivizing candidate retention and engagement.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional recruitment agencies often charge high fees, typically 15-20% of the candidate's first-year salary, without directly incentivizing candidate retention or rewarding the candidate for their effort in the hiring process. Candidates receive no direct financial benefit from securing a new role through these agencies, despite their active participation in the process.
Solution
Tencil is a recruitment platform that shares its hiring fee equally with the placed candidate, providing a bonus paid out over the first year of employment. This model reduces upfront recruitment costs for employers while simultaneously incentivizing candidate retention and engagement. By splitting the fee 50-50, Tencil aims to make the recruitment process more equitable, rewarding candidates for their hard work and aligning their interests with the employer's long-term success. The bonus is paid out in installments, further encouraging the candidate to remain with the company.
Target Audience
Tencil targets companies, particularly HR departments and hiring managers, looking to reduce recruitment costs and improve candidate retention, as well as candidates seeking a more equitable recruitment process with a financial reward for their efforts.
Features
- 50/50 fee split between the recruitment platform and the hired candidate.
- Bonus payout to the candidate over the first year of employment, incentivizing retention.
- Access to a pool of talent incentivized by a sign-on bonus.
- Streamlined recruitment process with transparent costs.