SAN FRANCISCO, CA, Apr. 07, 2004 (MARKET WIRE via COMTEX)
Today, Accolo, a pioneer in professional-networking based Recruitment Process Outsourcing, announced its official public launch will be April 14, 2004, at Human Resource Outsourcing (HRO) World Conference in New York. Accolo provides a unique end-to-end outsourced recruiting process, and has successfully completed its two-year Phase I operational plan.
During Phase I, Accolo worked with a select group of companies and hiring managers to refine and improve the company’s patent-pending technology and method, including Blue Shield of California and Thales Navigation, a subsidiary of French conglomerate Thales SA (ticker: TCFP.PA). During this early stage of operations, Accolo filled over 130 jobs and found, pre-interviewed and presented the candidate who was hired in an average of 13.6 days. The Accolo candidate was hired over 85 percent of the time its method was followed. Accolo is now entering Phase II of its operating plan, and is launching the company’s services into the broader market.
Accolo was founded in January, 2000, at the peak of the largest hiring boom in recent memory. The company spent two years in development, and went live in March, 2002, in the midst of the hiring downturn. Despite the poor economic climate, Accolo not only survived but also grew in both revenues and members. Accolo has proven its value as revenues have doubled in each of the last three quarters.
Technology Relies on “Mass Customization” of Recruitment Plans
Accolo uses a patent-pending combination of technology, method and social networking. The technology allows Accolo to “mass-customize” a recruitment plan based on the criteria specific to each job and hiring manager, then generate appropriate referrals using its 75,000+ member network. This allows Accolo to vastly expand the company’s ability to reach candidates accessible only through their friends. The process also allows for incorporation of all sources including employee referrals, posting boards, professional organizations and alumni groups. An assigned Accolo consultant oversees the execution of each effort and applies the art of recruiting as needed.
“Coming from HR myself, I realized that companies were overloaded with tools for internal recruiting — posting boards, applicant tracking software, resume databases, screening software. On the other side of the spectrum, external recruiting options like agencies were simply too expensive and inconsistent to give the company the flexibility in support it needed,” explained John Younger, founder and CEO. “I found that all these tools and options just filled my inbox, not my open jobs.”
For the customer, Accolo is completely scaleable, from one job to all jobs. Hiring managers have the opportunity to directly explain their needs to an Accolo consultant who will oversee the process. Using a simple web-based console, the hiring manager can review documented candidate pre-interviews and make interviewing and hiring decisions at the click of a mouse. Accolo automatically handles the follow-up correspondence with candidates, ensuring that all candidates receive closure and freeing up the hiring manager for other responsibilities. For the very low price point of $3,750 or less per hire, Accolo offers a complete solution that will find the high-quality candidate that will be hired faster than any combination of other recruiting methods.
“Accolo saved us a considerable amount of time and money to hire top performers,” says TriNet COO and CFO Doug Devlin. Accolo serves as a complete outsourced recruiting solution for TriNet, who has no internal recruiting function. “We see only fully screened people who meet our criteria, and the total cost is less than trying to recruit using internal resources. I would highly recommend Accolo to any company with a job to fill, even if the company already has internal recruiters. The resources supporting their community made hiring easy, and the cost was a no-brainer.”
For the job seeker, Accolo provides jobs that are real and validated. Accolo works directly with the hiring authority to define the job requirements and apply fair and consistent criteria across all candidates. All candidates, regardless of the outcome, receive follow up and closure from Accolo. “Too many companies forget that the candidates they ignore are also customers, shareholders, referrals and future hiring managers themselves,” noted Younger. “We are only job seekers for a short period of time relative to our entire career, and to not treat all candidates with respect is a very short-sighted decision.”
Accolo can scale from a single job for $3,750 to a complete outsourced recruiting department. In between, Accolo offers block plans that can service a wide variety of company needs and wants. For companies that leverage the Accolo system to its fullest extent, cost per hire can drop as low as $1,500, versus the national average cost to hire an exempt employee of $9,000.
“Our formula is unique in the marketplace. Over the past two years, we have built a referral network of 75,000 members that grows by several percent per month. We have generated over 1400 referrals from members, and have proven the viability of our technology and process on over 130 successful recruiting plans,” says Younger. “Results and data are the best evidence we have, and I have yet to see any combination of recruiting tools, internal resources or agencies that has found the candidate that was hired in an average of 13 days and was successful more than 85 percent of the time.”
Accolo is a pioneer in the Recruitment Process Outsourcing (RPO) industry. The Company uses a patent-pending combination of technology, method and social networking to deliver high-quality candidates that are pre-screened and pre-interviewed based on the hiring manager’s specific needs. For more information on Accolo, please visit www.accolo.com.
Xenia von Wedel
Terpin Communications Group