Alan Yang, CEO of 8AZA, is reforming recruitment with cloud technology. Photo: Courtesy of Alan Yang
Most college graduates face an uncertain struggle at the end of their studies: finding a job. However, companies are gradually turning the tables by hunting for job-seekers using an easier, faster method set to revolutionize the human resources (HR) sector.
Cloud-based recruitment services, so named because they use the Internet as a common network to pool together resources, enable enterprises and mid-sized businesses to recruit top talent, align employees to key goals and collate data throughout their employees' careers.
One of these services that connects companies with job-seekers is iBole, a new line of software developed by the Shenzhen 8AZA Network Technology Company.
Alan Yang, CEO of 8AZA, said iBole had delivered a "win-win" for job-seekers and companies since its launch in March.
"Applicants can ensure that their profiles are seen by HR departments at companies they are interested in instead of being overlooked, which often happens when resumes are mailed," he said. "In addition to having access to reliable, relevant profiles of candidates, recruiters can also take advantage of speedier processing and analysis of profile comments."
Another incentive for users is iBole's member reward scheme. If a member recommends a friend for a job that they ultimately get, credits are awarded that can be redeemed for gift cards.
Currently, iBole is only available for use by companies.
If a company wants to tap iBole's cloud-based network, they must subscribe to the service. Once a company receives approval to use the service, they are sent a link to download the software to their computers or smartphones.
Company subscription fees vary based on staff numbers. Among iBole's clients is the Baxter Healthcare Corporation, which has about 800 employees at its Shanghai branch and pays 40,000 yuan ($6,540) annually. Coffee giant Starbucks is another major client.
"Nowadays, people work and live at a fast pace. Most of their time is spent on the Internet, which they access from their smartphones," Yang said of the advantage of cloud-based services.
But like many online recruitment services, concerns have been raised over iBole's ability to protect users' privacy.
"Some of our clients ask me whether it is safe to have their information stored on our system," Yang said. "I tell them their data is as safe as money in a bank."
Yang said he believes more recruitment services will become cloud-based over the next five to 10 years.
"The competitive nature of the IT, retail and insurance industries have placed a huge demand on talented candidates. They will be the next popular users of cloud-based recruitment services," Yang said. "Traditional methods of recruitment will exist alongside this new form because HR personnel need multiple solutions to meet different needs of different companies."
However, iBole already has stiff competition in the cloud-based recruitment services sector. Oracle, an American multinational technology corporation, has also invested heavily in this emerging field.
In February 2012, Oracle acquired cloud-based recruitment service Taleo for $1.9 billion. Earlier this year, the tech giant bought cloud-based social talent networking service SelectMinds.
Yang identified Taleo as a major competitor, but said it was still too early to predict which cloud-based recruitment solutions provider would dominate the Chinese market.