Have you ever experienced the pain of having a co-worker who isn’t the right fit for the company? Uncountable people are wrongly hired by companies every year. A significant reason for incorrect hiring is that subject matter interview often take a backseat.
HR, in some cases, lacks the technical skills or the competence to gauge the candidate correctly. As long as a candidate meets the required benchmark, everyone can learn on the job. However, picking the right candidate can help save time, energy, and money for the company. And having an expert third party do the interview eases the hiring process for the company so that their resources can be better utilised.
InCruiter was started on 1st November 2018 when the company’s Co-Founder, Ms Ritu Mathran, saw firsthand the amount of loss incurred by an organisation she was working for. This happened due to a wrong hire. Having seen that experience up close, InCruiter was formed to provide expert panel members who could provide in-depth subject matter interviews for different organisations.
Interview+reCruiter mashed together gave birth to InCruiter. The company served two purposes, giving correct hires by industry experts to ascertain prime candidates for organisations. And giving industry experts the option to utilise their expertise during unproductive hours.
This Is What InCruiter Provides To Its Clients
InCruiter started by building the platform, which gradually shaped the company’s vision today, a service platform that provides specialised video interviews. The brand started onboarding freelancers with over ten years of experience for the recruitment process, which ensured the quality of not only the candidates but also the fact that the candidates chosen by InCruiter are top-notch.
InCruiter comprises a team of industry experts who accurately and precisely conduct candidate interviews and evaluations for the companies that partner with them. They provide a dedicated platform of freelance expert interviewers who will make the right judgment call per industry demands and needs.
The industry expert interviewers with InCruiter keeps defined job specifications and targets them for the need of the organisation. They aim to help companies focus on their core business activities while they take care of the hiring requirements.
- Expert Interview Panellist
- Time and cost saving
- Faster Hiring
USPs of the Brand
As a SaaS-based platform that provides interviews as a service, InCruiter ensures a high conversion matrix with better cost than any other company in the market. They focus on their high-quality work and provide technical and non-technical interviews. Only the highest-quality candidates are shortlisted, which helps serve their clients better.
The platform for InCruiter is unique, with features like Live Coding Compiler to test practical ability in real-time. This is complete with scheduled interviews straight from the platform itself, built-in auto-suggest that helps in automatically suggesting job positions and skills one is fit for. Moreover, they also possess Proxy Check to verify candidate identity using face match before joining the meeting, a Real-time feedback system, Interview recordings, White-labelled feedback, and an Interactive system design test.
A Glimpse Into Incruiter’s Business Insights
InCruiter’s target audiences in IT services make the IT industry their target industry. They also have a presence in countries like Norway, the US, and Dubai.
The world has changed forever due to the COVID 19 pandemic, and companies have seen a shift in workplace dynamics. There has been a massive digital transformation with a huge spike in demand for IT talents. Everything during the pandemic was virtual; by default, interview as a Service Platform (IaaS) boomed and helped in faster, more accurate, and smoother hiring. India is the biggest market for IaaS, with most IaaS companies based in India.
While the pandemic adversely impacted many industries, it was during this time that interview as a service came into the picture for InCruiter. InCruiter’s platform set out to facilitate candidates in taking or giving interviews from any part of the world in the companies of their choice.
Work from home evolved into work from anywhere, and the IT Industry witnessed an exciting new phase as the world suddenly realised that they had a pool of talent not limited by geography to tap into. This led to an evolved HRTech industry, and it rose to the challenge of remote work by introducing features such as Employee monitoring, Performance management, etc. As a gradual process, IaaS came into being and took advantage of this.
Challenges And Competitors Encountered Along The Way
The biggest challenge so far for InCruiter has been the lack of trust, as clients hesitated to trust a third-party company. The often-raised question is how a third-party IaaS provider would understand the company’s recruitment requirements and match the quality of work they are looking for.
At the other end of the spectrum, the challenge was also in the availability of interviewers. As all the interviewers are freelancers, the challenge was to match the timings of the interviewer and candidate. Another challenge faced was the difficulty in acquiring customers, which meant an additional cost for the company as this initiative is over and above the existing interview process.
Finally, while interviewing potential candidates, they’d get a different person for the video interview than the original candidate, jeopardising IaaS. The company overcame this by introducing a feature in their system that asked candidates to place their ID cards beside their faces. They could proceed with the interview only after ascertaining the candidate’s identity.
Some competitors for InCruiter in the market are:
What Does The Revenue Model & Funding Look Like?
InCruiter charges clients per interview basis and pays the interviewers per interview. So far, they have witnessed a growth of 20% since the pandemic.
The company is a bootstrapped start-up that turned profitable within a short time. They’ve received revenue-based funding from GetVantage as part of their fundraising initiative.
Some notable clients of InCruiter are Mahindra Group, Adecco Group, Practo, Blenheim Chalcot, Tredence, Straive, Merit, Betsol, Leena AI, GSLabs, Grip Invest, ImpactGuru, DLT Labs, Monster, BlueConch, AKKA, Cygnet Infotech, Swisstours, etc.
The Story Hereon
Interview as a Service is a new market segment post-pandemic, and InCruiter has been one of the top players in this segment. Currently, the market size of IaaS is unknown due to its nascent stage. However, the company is researching the size of this market and being the segment creator of IaaS. InCruiter believes that sizing this segment would boost the company’s brand significantly.
As a new industry, IaaS is not commonly known by many industries. The biggest misgivings of potential partner companies are the fear of relying on a third party for the interview. The strategy is to aid in developing the habit of outsourcing interviews to companies like InCruiter. This is made possible by creating reliability and trust among clients. They believe this starts by providing quality interview services to its customers.