Scotts Valley, Calif., November 8, 2012 — JobEscrow, Inc., pioneers and inventors of the new Employment Escrow industry, has been awarded its escrow license from the State of California, making one of its two patent pending services — Standard JobEscrow™ — now a live recruiting marketplace of independent pay-for-performance recruiters.
JobEscrow’s marketplace provides recruiting insurance for employers where the recruiter fee is paid like an annuity, over time through an escrow account, contingent on the tenures of the new hires recruiters place. JobEscrow will also launch a new outplacement service in December where a monetary reward is offered to recruiters who help laid off employees get their next job.
The JobEscrow network offers fiscal safety for employers as well as for recruiters and welcomes independent recruiters who qualify and are willing to do business in the new “employment escrow” pay-for-performance business model. Unlike other offerings in the market, JobEscrow will not be the recruiter or employer in any JobEscrow transactions, only the trusted third-party agent via the escrow business model.
“During the past 10 years of recruiting I’ve searched for a way to evolve the contingent model to pay-for-performance while rewarding top recruiters with new business from quality employers. Creating tighter fiscal controls in the recruiting process to improve retention led us to incorporate the escrow model, and we are proud to deliver JobEscrow to the contingent marketplace. Using escrow to align the incentives between employers and recruiters, we have basically developed recruiting insurance and delivered the foundation of safety to the industry,” said Ken Winters, Co-Founder and CEO of JobEscrow. “As the tenure and loyalty of the workforce decreases, the value of the 60-year-old contingent recruiting model is diminished, but the need for quality contingent recruiters has never been higher. The ethical pool created by JobEscrow restores the full value of recruiting, reduces recruiting costs for start-ups, improves retention and stimulates job growth through the risk reduction of using third-party recruiters.”
JobEscrow is the first to market with innovative online marketplace applications and services that will transform the recruiting industry by introducing escrow as the new standard process for most contingent recruiting and outplacement. The first two services, Standard JobEscrow™ (live now) and Outplacement JobEscrow™ (live in December) will realign incentives to restore employer trust and utilization of recruiters.
At first impression, the employment escrow model favors employers but there are several advantages for recruiters to utilize escrow in their recruiting business. These advantages include increased client acquisition, true marketing differentiation, a return of small and medium businesses (SMBs) utilization of recruiters, fee stabilization, exclusion of unethical poaching recruiters, protection from deadbeat employers, a free resume database, and one-to-one requisition assignments.
To learn more about JobEscrow visit www.JobEscrow.com
Pioneers and inventors of the new “Employment Escrow” industry, JobEscrow creates an online pay-for-performance marketplace for employers and recruiters to do business in, where the recruiter fee is paid into a licensed and bonded escrow account and then paid out like an annuity , contingent on the tenures of the new hires they place. A new outplacement service, where a monetary reward can be offered to those who help laid off employees get their next job, will be launched in December. The first two patent pending services, Standard JobEscrow™ and Outplacement JobEscrow™ create trusted social “business” networks where employers and recruiters can do business together in a fiscally responsible way and with hire expectations.
Marketing and Media Contact:
Kevin W. Grossman