Bobcheck, the digital platform used by recruitment firms to identify direct or behind our back (BOB) hires, has today announced it has identified £1M+ of missed revenue for it customers. This staggering milestone has been achieved for its 23 customer in just 15 months of trading.
A ‘direct hire’, otherwise known as Behind Our Back (BOB), occurs when a company hires a candidate, following an introduction from a recruitment firm, and for whatever reason does not pay the appropriate fees to the recruitment firm for sourcing and introducing the candidate.
Bobcheck was created with the simple and clear ambition, to help recruitment firms identify instances of direct hires. From there recruitment firms may chose to recover missed/lost revenue or invest in learning and development to better protect their business in future.
Bobcheck never takes a % of the missed fee. We are a pure rectec business.
Direct hires can happen for any number of reasons, it is not necessarily a purposeful act on behalf of the hiring company. 28% of the direct hires identified by bobcheck happen when hiring managers pass details of candidates internally, without discussion or explanation of contractual agreements with the recruitment firms who made initial introductions. How recruitment firms react to identifying a direct hire can also vary. Many firms immediately begin the process of retrieving debts owed, whereas others can adopt a more subtle approach, potentially forgoing monies owed in the interest of protecting the ongoing relationship with clients.
The Bobcheck platform is easy to use and integrates with recruitment management software Bullhorn and JobAdder, or can also be used via simple CSV upload. Once set up, the platform will continue to monitor actual hire activity with minimal maintenance and no further need for recruiters to conduct manual checks, saving time and focus for recruitment staff.
Shehzad Tabassum, CEO of Networking People describes the experience of Bobcheck:
“Congratulations bobcheck, what a fantastic achievement. Networking People has been connected to the bobcheck platform for a year and we are really impressed with the results and additional revenue it’s given the business. With the constant changing economy, it’s nice to know our revenue is being protected. We have already seen a x10 return on investment by using the system, which is fantastic. However, it has also also helped us with training and operations which gone a long way to future-proof our business”.
David Clark, Managing Director and Co-Founder of Bobcheck explains:
“Achieving such a significant milestone is such a short space of time is far beyond our wildest expectations for the platform. It has highlighted many opportunities for direct hires to occur, accidentally in most cases, and has allowed for most of our customers to better protect their value to hirers long into the future."