Revolutionizing Talent Acquisition: Erekrut’s Journey and Ambitious Plans for the Future

CXOToday has engaged in an exclusive interview with Dr. Ravinder Goyal, Co-Founder, Erekrut HR Automation Solutions Pvt Ltd.

1.With what mission and objectives, the company was set up? In short, tell us about your journey since the inception of the company.

Erekrut was founded with a clear and ambitious mission – to provide the best-fit, filtered candidates to institutions within the shortest time frame. Since its inception, the company has been steadfast in its pursuit of supporting millions of students in achieving 100% placement, aiming to become the go-to organization for handling hiring and institutional placement processes.

From its beta launch in July 2020, Erekrut has grown exponentially, with over 3.5 million candidates, 1250+ recruiters, and 500+ campuses already on board. The platform has garnered impressive traction, with 12-14 thousand site visitors each day. Not content with just being a leading job search portal, Erekrut is also determined to become the preferred choice for both recruiters and institutions.

In March 2023, Erekrut took a significant step forward by launching its revamped site, featuring enhanced campus functionality. The company’s vision goes beyond mere job-matching; it aims to revolutionize the hiring landscape, empowering individuals and businesses alike to achieve their career and talent acquisition goals with utmost efficiency.

The journey of Erekrut has been marked by notable milestones, including securing INR 35 million in funding during its PreSeed Round in May 2022. Currently, the company is in the process of raising an additional INR 25 million through the Bridge Round.

2. How do you see the company and the industry in the future ahead?

As we forge ahead, Erekrut stands at the forefront of the HR industry, with a growing user base and a strong presence in institutions across India. Our relentless efforts to revolutionize talent acquisition have yielded remarkable results. Since the relaunch of our website in March 2023, we have added 494 campuses, over 900 job listings, and introduced 47,911 pre-hiring assessments for 525+ job descriptions. Notably, the number of assessments is steadily rising on a vertical trajectory, indicating the increasing trust in our platform.

Our success is underpinned by our intelligent job matching algorithm and advanced candidate assessments, which have proven highly effective in delivering quick turnout rates from job seekers through probable matching notifications and the Boost Job feature. This has validated the efficiency of our system, leading to reduced time-to-hire for companies and resulting in substantial cost savings and heightened productivity.

The recognition we received as the “Best Startup of the Year – HR Services” during the MSME India Business Convention 2022 further solidifies our position as industry trailblazers. Our ARDEX feature has empowered employers with access to an extensive repository of over 3.5+ million qualified candidates and 500+ campuses, offering unparalleled access to top talent from diverse backgrounds.

Looking ahead, we envision Erekrut becoming the go-to platform for HR professionals worldwide, seamlessly connecting the best talent with leading companies and institutions. Our dedication to continuous improvement drives us to embrace emerging technologies and stay ahead of market trends. We are committed to providing all our users with a seamless and efficient hiring experience.

3. The current challenges witnessed during the hiring of talents by the companies?

One of the most significant hurdles is the quest to find candidates who possess the precise skills, experience, and cultural alignment with the organization. Additionally, the surge in online job portals has led to a flood of applications for each position, creating a high volume of candidates to screen and shortlist, which can be time-consuming and arduous. Engaging with passive candidates who are not actively seeking jobs poses another challenge, even though they hold immense potential as top talent. Convincing such candidates to consider new opportunities can be a daunting task.

To tackle these challenges, Erekrut employs innovative strategies and harnesses advanced technology to streamline the recruitment process. Leveraging a sophisticated algorithm, Erekrut skillfully matches probable job seekers with relevant job opportunities, taking into account their skills, experience, and location, facilitating a more efficient candidate selection process. It implements smart screening tools and pre-hiring assessments to ensure that only the most qualified candidates proceed to the interview stage, saving time and resources.

Erekrut’s Advance Resume Database (ARDEX) is an invaluable resource, granting access to a vast pool of qualified candidates, including those passive job seekers who may not actively apply, widening the talent search horizon for companies. Recognizing the importance of employer branding and company culture, it allows companies to customize their brand showcase, attracting candidates who resonate with their values and vision. Furthermore, the Campus Connect feature facilitates seamless campus placements, providing companies with access to fresh, skilled talent from leading educational institutions.

To enhance decision-making, Erekrut offers data-driven insights through analytical reporting capabilities, empowering companies to optimize their hiring strategies based on valuable metrics. By harnessing these features and capabilities, companies can overcome hiring challenges with agility and precision, efficiently finding the right talent to propel their success in a fiercely competitive job market.

4. What are company’s future plans?

The company aims to expand across India and globally, striving to become the go-to platform for HR professionals and institutions worldwide. It seeks to revolutionize talent acquisition on a global scale by seamlessly connecting top talent with leading companies and institutions. Embracing emerging technologies and staying ahead of market trends will be a priority to provide a seamless and efficient hiring experience. The company plans to introduce new features and services that enhance the recruitment process for job seekers, recruiters, and campuses. Currently, it is raising a bridge round for INR 25 million, followed by a Seed/Pre-Series A round of USD 2-3 million. Their goal is to assist companies in closing recruitments within 8-12 hours from job posting, eliminating hurdles to success. Simplifying the connection between institutions and hiring companies is another aspect to save time and money in the process.