Talent search engine used by major Fortune 500 firms and recruiters for sourcing the best talent. [Acquired by Monster Worldwide NYSE:MWW]
TalentBin has been acquired by Monster Worldwide (NYSE:MWW). The acquisition of TalentBin completes one key component of a larger strategy designed to help Monster grow, says Monster CEO Sal Iannuzzi.
How should one go about finding an engineer who fits the needs of the job role and the long-term plan of the company? Various tools, such as TalentBin, can help with a company's recruiting process. TalentBin provides template emails, communication storage, and staging for the recruiting process.
TalentBin doesn’t compete with the services LinkedIn offers to the average user. Rather, TalentBin competes with the behind-the-scenes services LinkedIn offers a very specific, and lucrative, segment: recruiters.
“No good software engineer puts his résumé on Monster, because then they get 10 to 20 e-mails a day from recruiters,” says Elliott Garms, a recruiter at Groupon (GRPN). “Really good developers try to hide. TalentBin allows me to identify people I might not have even seen.”
TalentBin debuted a year ago, attempting to address this problem. Groupon has been using the recruiting tool since February, and Garms testified to the fact that TalentBin has enhanced his company's recruitment process. "Within the first week or two of me using it, I had found a person who was a really big hire for us," he said.
TalentBin’s technology mines a large cross-section of professional networking sites for clues. TalentBin is actively integrating with larger, complementary solutions, having recently announced doing so with COMPAS Technology and with SilkRoad Technology, Inc. Passive candidates by definition aren’t active in social networks in ways that a hiring organization would notice, but their activity often exists nonetheless. “Obviously, recruiters and hiring managers are on sites such as LinkedIn a lot, but petroleum engineers, for instance, aren’t as much,” says Peter Kazanjy, co-founder and CEO of TalentBin.
GRADE A What I think: I’ve seen similar tools (Zoominfo comes to mind), but TalentBin seems to have taken it to the next level. I like that they scour multiple social networks and (at least for now) focused on the niche of techies, rather than being all things for all people. I like that you can use their automated search (just add job title and prospects appear) and/or do a search with your own boolean search.