Instahyre – An Auction Platform to Hire the Best Talent

Instahyre – An Auction Platform to Hire the Best Talent

While many companies are looking for good work force, there are tens of thousands qualified persons looking for good employment. The entire process of filtering big number of applicants to find the perfect one or to trace a job that is perfect for you is complex involving many steps.

To keep things just in place for tech companies, Instahyre makes hiring better and faster. Instahyre is a platform where tech companies in India compete to hire the best of the most qualified and talented candidates. What takes months and regular effort on job boards takes a week on Instahyre.

Job search is time consuming. Reaching out to the right companies is difficult. Signing up on Instahyre will end all the hastles for the one looking. Each candidate gets up to 10 offers in a week by participating in auctions where multiple vetted companies make introductory offers. Instahyre lets you view what the companies offer upfront so that you can interview with companies you’re interested in. Often, talented professionals are paid less than market rate, to cut down such stuff, Instahyre gets only the companies that offers the package compatible to that of an candidate. Most of them offer more than 10 lakhs. Also, privacy is given priority, thus profile is hidden to current and past employers on Instahyre.

While job boards take months to serve the right candidates and recruiters are unable to provide the right fit, Instahyre helps tech companies to hire curated talent in a matter of weeks. Once the company signs up, it gets access to the profile of candidates. Introductory non-binding offers can be  made to know the range of pay a candidate can expect if hired at auctions where a different set of handpicked candidates are available each time. Each candidate is thoroughly screened to ensure that only the most qualified applicants participate in the marketplace. It helps find developers familiar with technologies like Python, Ruby, Javascript, Android, iOS, etc.

Then, Instahyre sets up interviews for companies with candidates. Once a candidate is hired, Instahyre charges the company 10% of the candidate’s annual salary. On Instahyre, on an average a company hires in less than 17 days from 3 interviews where 83% of candidates accept the interview call. And, 90% of the candidates receive offers with 84% receiving multiple offers.

With a market size of more than USD 1 bn in India, Instahyre is a higher level platform for those who depend on job boards and recruiters. Instahyre was founded by Aditya Rajgarhia and Sahil Gupta, two computer science graduates from Stanford University and IIT Ropar respectively, in February this year.

The platform is expanding rapidly with more than 60 tech companies in India, including recognizable names such as Zomato, Practo, Akosha and Wingify. The private beta of Instahyre in April and May featured two auctions with 40 different companies participating in the talent marketplace.

Author

Deepthi

Inc42 Staff
Undergraduate at BITS Pilani, Hyderabad. Keen interest in the fields of engineering, business management and marketing. An enthusiastic follower of marketing strategies of business firms. Active participant of various literary and marketing activities taken up by the Student Union of BITS. Also, a volunteer at yfs and TFI.
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