Scotts Valley, Calif., June 20, 2012 — JobEscrow, Inc., pioneers and inventors of the new Employment Escrow industry, has been selected as one of 13 finalists to compete in Innovative North State’s inaugural Sierra Nevada Innovation Challenge in the Web, Mobile, Social and IT category on Thursday, June 21st at the Sierra Nevada Brewing Company in Chico, CA.
JobEscrow is one of 40 finalists across categories in the statewide and beyond competition that will feature six-minute presentations as to why the companies will change the world, an industry, the environment or people’s lives in some meaningful way.
“It’s been clear to me for over a decade that the third-party recruiting model is broken due to misbehavior by both recruiters and employers, costing US companies millions of dollars in up-front commissions and new hire turnover,” said Ken Winters, co-founder and chief employment officer of JobEscrow. “Although recruiting will always be a human business, employers tend to seek out recruiting technology solutions to improve retention with varying success. Unfortunately startup after startup has proven that technology alone cannot fix a human problem, but we’re confident that our recruiter pay-for-performance network will.”
The Sierra Nevada Innovation Challenge will include panels of over 40 judges comprised of investors, media representatives, CEOs, academia and federal labs, and industry professionals from around the nation. Master of Ceremonies for the event will be TV personality and journalist Doug McConnell, best known for KRON television’s “Bay Area Backroads” series and who has been recognized with regional Emmys, humanitarian and environmental awards.
“JobEscrow is very excited to be competing in the Sierra Nevada Innovation Challenge. We’ve been fortunate to participate in other competitions since we launched our beta products in May and the industry response has been phenomenal,” Winters said. “We’re excited to be providing the safety and financial accountability of escrow in recruiting transactions that will allow employers to effectively utilize recruiters and improve new hire retention. Also, organizations unfortunately are still laying off employees, which is why our outplacement service provides recruiters the opportunity to receive a monetary reward in exchange for helping place those laid-off employees.”
In May JobEscrow launched beta versions of two patent pending services: Standard JobEscrow™ and Outplacement JobEscrow™. JobEscrow is currently looking for employer and recruiter beta testers and plans to launch officially later this summer based on beta testing progress. Sign up today for beta testing and news updates at www.JobEscrow.com.
Pioneers and inventors of the new “Employment Escrow” industry, JobEscrow creates an online marketplace for employers and recruiters to do business in, where the recruiter fee is paid like an annuity, over time through an escrow account, contingent on the tenures of the new hires they place, as well as providing a new outplacement service where a monetary reward can be offered to those who help laid off employees get their next job. 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. For more information, go to www.JobEscrow.com
Marketing and Media Contact:
Kevin W. Grossman
kevin (at) jobescrow (dot) com