Below you will find the answers some of the most frequently asked questions about yourpeoplemarket.com.
Employer FAQs
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What is yourpeoplemarket.com?
yourpeoplemarket.com is a value driven, direct, online recruitment marketplace that enables you to secure the best talent for all your staffing needs at a price you control.
yourpeoplemarket.com brings together employers and recruiters in an online marketplace and under one central contract. Employers have access to a pre-screened and compliant recruitment community covering all industry sectors and functional disciplines.
You set a fee based on the value you place on securing the talent, receive bids from recruiters (some will bid lower than your fee to secure an engagement), then simply engage and recruit the best talent into your business safe in the knowledge that you will only ever pay a true market price.
What is the fee?
The fee is what you will pay when a recruiter successfully places a candidate in your business. This one-off fixed fee is determined by you and is generally based on the value you place on filling the vacancy and, of course, your recruitment budget.
In order to secure contact with you, some recruiters will even bid lower than what you are prepared to pay - saving you even more money.
How much does it cost to use yourpeoplemarket.com?
The site is free to use and, as the employer, you only pay a fee to the recruitment agency you decide to use. You only pay this when the candidate starts work, and we hold the fee on your behalf for three months. If the candidate doesn’t work out, you get your money back.
How does yourpeoplemarket.com make money?
Our success is driven by the success of the market. As the service provider yourpeoplemarket.com takes 20% of the agreed fee upon the successful candidate starting work and passes the remaining 80% onto the successful recruiter.
Why would recruiters give up 20% of their fee?
yourpeoplemarket.com provides a new channel to market live vacancies for its recruitment community. By providing an online marketplace with access to more clients and qualified live roles, the recruitment community can concentrate on their core business of candidate sourcing, filling roles and building revenue, rather than business development, contract negotiation, and PSL approval, which can often account for more than 50% of their time.
Additionally, we provide recruiters with the opportunity to invest time actively marketing their best candidates, rather than making endless prospecting ‘cold’ calls.
Is there a minimum fee that has to be posted?
No. The system facilitates vacancies from all market sectors, industry types and salary level, so the fees you can set are dictated by the value you place on recruiting the talent. Obvious factors such as market conditions, industry type, difficulty to fill etc will play a part but ultimately, the fee you set will be determined by you. This allows you to take advantage of the employer driven and increasingly competitive market conditions.
How do I pay the fee?
Once you have approved the successful hire, yourpeoplemarket.com invoices you for the agreed fee as set out in our terms of business. All invoices are payable to yourpeoplemarket.com upon the succcessful candidate's start date. yourpeoplemarket.com then pays the successful recruiter in line with the start date and guarantee/rebate schedule.
What is the Guarantee/Rebate system and how does it work?
yourpeoplemarket.com provides a hassle free guarantee/rebate system as set out in our terms of business.
In the unlikely event that your new recruit does not work out in the first 90 days the following fee guarantee/rebate structure is in place.
- 0-30days 100%
- 31-60 days 75%
- 61-90 days 50%
After 90 days no rebate is applicable.
How do I register with yourpeoplemarket.com?
You can register your company via the online registration page. Once you have completed all the relevant company details (name, size, industry classification etc) your profile will be activated and usernames and passwords initiated.
Do you accommodate multiple Users/Hiring Managers access to the system?
Yes, we recognise that the system will be used by everyone from start-ups through to SME and corporate/enterprise clients with the requirement for multiple users/hiring managers who will require access to the system when posting multiple and/or cross-functional vacancies.
How do I post a vacancy on yourpeoplemarket.com?
From the employer dashboard you can post a new vacancy via the 'Post a Job' template.
Just complete all the new vacancy details including all the relevant skills and, most importantly, the fee you are prepared to pay and press 'submit'. You can also attach any further documents relating to the job.
The system then automatically alerts the best and most suitable recruiters, as well as any hotlists lists you have set-up, to your new staffing need.
How do I manage the amount of recruiters I engage with?
Our system allows you to choose how many and which recruiters you want to engage with.
Upon initial completion of the job template you can specify how many recruiters you want to engage with and the amount of CVs you would like to receive.
Once a vacancy has been distributed by electronic notification recruiters have the option to bid to work on your role.
From the bids received, you then have the opportunity to select which recruiters to engage with based on which best meets your criteria according to their specialism. They are all required to complete a brief 'Why Me?' and 'About Me' statement, and their YouRate (recruiter rating score) is visible, as well as their past track record in the marketplace, ensuring the integrity of your selection.
Only by clicking 'Engage' do you open the communication channel, allowing you to retain control over the type and amount of recruiters you work with.
How do I ensure I engage with the best recruiters?
All of our recruiters are audited against the highest industry standard and are subject to Recruitment Industry Rules and Regulations.
As part of the recruiter’s registration process, all recruiters classify their expertise by industry type/sector and functional classification by location, ensuring that we have a broad mix of recruiters to fit your specific staffing needs. Once registered, recruiters are given further pre-screening with reference to their capabilities and are asked to provide an ‘About Me’ statement for their profile to sell their services.
As the recruiter works within the yourpeoplemarket.com community their footprint is completely auditable – showing details of important factors such as number of bids by market, number of engagements and number of placements.
Then, when the recruiter bids to place a candidate in your business, they are also required to complete a ‘Why Me?’ statement detailing succinctly and specifically why they are best-placed to help you.
Recruiter performance is also monitored, recorded and ‘broadcast’ via the YouRate scoring system which provides transparent and visible evidence of recruiter performance.
What is the YouRate Scoring System?
The YouRate scoring system is exactly what is says – the opportunity for you to rate the recruiter based on their performance. YouRate is a truly unique recruiter rating system that enables you to make informed engagement decisions based on a recruiter’s rating and
status as voted by your peers and other employers within the marketplace.
After a role has been filled, the employer is asked to rate each recruiter engaged based on the following criteria:
1. Overall Experience (minimum requirement for rating process):
- POSITIVE
- NEUTRAL
- NEGATIVE
1. Rating Metrics: (graded 1-5, where 1 is the lowest and 5 the highest)
Understanding: 1-5
Knowledge of your requirements and the market
Responsiveness: 1-5
How quickly they did they respond with CVs?
Qualification: 1-5
How suitable and qualified were the candidates?
Preparation: 1-5
How well prepared were the candidates throughout the recruitment process?
Ease: 1-5
How easy was it to work with the recruiter?
3. Comments section (opportunity to add any additional comments)
A recruiter’s YouRate score is visible on the recruiter’s profile as indicated by their
status. This allows you to rest assured that you are basing engagement decisions on actual performance and user experience.
By encouraging this kind of rating and visible performance monitoring
yourpeoplemarket.com promotes a self-policing environment in which employers can truly promote good performance and highlight bad.
Will I be inundated by cold calls?
No, yourpeoplemarket.com was created to provide a marketplace in which employers can match and engage with only the most appropriate recruiters. Only when you agree to engage with a potential recruiter on a vacancy do you open the communication channel and your company and its contact details will become visible.
Prior to this all your details are confidential and not visible to the recruiter network.
yourpeoplemarket.com can actually be used to stop cold-calling and greatly reduce the time spent ‘getting rid of’ cold callers - simply inform the recruiters that you're active on yourpeoplemarket.com and they should channel their enquiry through the marketplace.
My roles are within specialist niches - will yourpeoplemarket.com work for me?
Yes, the yourpeoplemarket.com marketplace provides access to a network of recruiters of all shapes and sizes from niche head-hunters to global staffing agencies. Operating across all markets, our recruitment community provides expertise in all industry sectors with nationwide cross-functional delivery capability.
By posting your niche vacancy with yourpeoplemarket.com, you can take advantage of a new competitive supply chain and the potential to fill your niche roles at a lower cost than traditional recruitment methods.
I have a PSL and am happy with my suppliers. Why should I use yourpeoplemarket.com?
yourpeoplemarket.com can sit seamlessly alongside your existing recruitment channels.
Many clients supplement their PSLs with yourpeoplemarket.com to provide an alternative supply chain to gain greater market coverage and access to broader, larger talent pools.
We understand that you will only ever engage candidates from yourpeoplemarket.com if it delivers the right talent at a lower cost - this is what we are all about!
What type of companies use yourpeoplemarket.com?
Companies who use yourpeoplemarket.com come in all shapes and sizes, from start-ups through to SME, FTSE and multi-nationals.
As we cover all market sectors and provide a nationwide network of cross-functional recruiters we are confident that your recruitment needs will be met, whatever your company size, industry sector or location.
Who owns the submitted candidates?
The recruiter who submits a candidate against a vacancy has candidate ownership of the submitted candidates for a period of six months from date of submission, as per our terms of business.
What if I already have a candidate that a recruiter submits to me?
If the employer has proof of candidate submission in the six months preceding the same candidate submission via the yourpeoplemarket.com system then the employer has candidate ownership and no fee is payable for that candidate(s).
What happens in cases of candidate duplication via two recruiters?
yourpeoplemarket.com's applicant tracking system is designed to block duplication on CVs submitted.
However, should the system fail to block a duplicated submission, then the recruiter who submitted the CV first (indicated by the date stamp of our system) will retain candidate ownership for that particular vacancy.
In no instances would an employer ever be liable for two fee payments based on duplication of CV submissions.
When arbitrating in this regard yourpeoplemarket.com reserve the right to make the final decision, as set out in our terms of business.
Do employers have to use the yourpeoplemarket.com contract?
Yes, yourpeoplemarket.com operates one central contract that governs the relationship between all parties.
Such a process avoids the cost, time and hassle associated with contract negotiations and variations across multiple recruitment suppliers.
Furthermore, our contract delivers you the benefit of best business practice and compliance as it is constantly reviewed and updated by our legal team.
What Management Information is available?
When we designed yourpeoplemarket.com, our vision was to create an online recruitment marketplace that would drive recruitment partnerships between employers and recruiters based on complete transparency of the recruitment process.
The candidate management system provides a suite of real-time reporting tools, which enable you to keep track of the recruitment process at all times from vacancy requisition through to CV submission and placement.
Additional MI and reports illustrate recruitment metrics around number of CVs submitted, CV:Interview:Placement ratios, 'time to fill' etc, which can be further examined by industry, sector or function.
Finally, in addition to the YouRate system, recruiter performance can be measured and reports on the best performing recruiters within your field extracted, meaning your decision to engage in the future is based on real MI, employer experience and proven recruiter performance.
How easy is yourpeoplemarket.com to use?
Using yourpeoplemarket.com is easy and costs you nothing.
Once you have registered you will be provided with a system tutorial and supporting User Manual but our system is so user friendly it is unlikely that you will ever need to use it.
- Simply upload your new vacancy details and the system alerts the recruitment community.
- Decide who you engage with to fulfil your requirement and the candidate management system will walk you through the recruitment process step-by-step with complete transparency and in real-time
- Once you have successfully filled the role and approved vacancy closure, yourpeoplemarket.com invoices you for the fee and manages third party payment throughout the guarantee/rebate period for you.
How quickly does it deliver?
Because yourpeoplemarket.com lets you take full control of the recruitment process (allowing you to define who you engage with and how you engage with them), the speed at which you see results is truly under your own control.
Clearly, external factors such as market conditions, salary offered, industry type, location and so-on can play a part in how quickly you see results, but clients posting a fair and realistic fee have seen people start in their business within 48 hours.
How do I get the best of from yourpeoplemarket.com?
yourpeoplemarket.com was developed to match employers with recruiters and leverage the true benefits of working in a competitive market for staffing needs.
yourpeoplemarket.com means that for the first time you as an employer can capitalise on this competitive behaviour and translate it into true business value, saving you time, money and effort during the recruitment process.
Tips to get the best out of the system include:
- Post realistic fees to build the appetite to support your business
- Use the system accurately, often and as intended
- Fulfill your side of the recruitment process
- Be sensible with your own timeframes
How does yourpeoplemarket.com protect customer information?
All the information you give us is protected by a secure server. The secure server software SSL (Secure Socket Layers) encrypts all information you enter before it is sent to us. The information is only decrypted when it reaches our server. We also have security software in place to protect our internal information from the Internet.
All staff have undertaken data protection training and are aware of the company’s data protection policy.
Does yourpeoplemarket.com use cookies?
Yes, yourpeoplemarket.com uses 'temporary cookies', which are only used during the login process. A cookie is a small piece of information sent by a web server to store on a web browser so it can later be read back from that browser. This is useful for having the browser remember some specific information, such as your login details.
How does yourpeoplemarket.com use information provided?
If you have opted to receive alerts via email your information is used so we can email you relevant information in relation to the processes and communication on the system.
On our registration page you will be given the opportunity to opt-in to receive alerts via email from yourpeoplemarket.com. You can amend your alert preferences at any time by logging on to the site and updating your information. Your email address is used primarily as your username. Your email address and telephone number may be used if we needed to contact you regarding any enquiries you make or to inform you of any news regarding yourpeoplemarket.com.
Will yourpeoplemarket.com disclose any registration information?
In the course of providing the yourpeoplemarket.com service, we may be required to share your information with other third parties – for example (but not limited to) their technical advisors and database operator. yourpeoplemarket.com will only disclose your information to any independent third parties with your express permission or when ordered to do so by a Court or Tribunal of competent jurisdiction.
Any third parties that have access to your information in accordance with the Privacy Policy will be required to protect your information at least as strictly as yourpeoplemarket.com and will not be permitted to disclose your information in any way, other than with your permission. yourpeoplemarket.com will not share your information and will not sell or rent your information to third parties for marketing purposes.
What if another supplier should replace Your People Market Limited?
If another supplier should replace Your People Market Limited as the provider of the yourpeoplemarket.com service at any time, your information will be passed to that replacement contractor to allow it to provide the yourpeoplemarket.com service. Any replacement contractor will be required to protect your information at least as strictly as Your People Market Limited.
Should such a transfer take place, Your People Market Limited hereby undertakes to inform you of any such change.