User:Astock27/Dayak

Dayak is a free online recruiting marketplace that allows employers and staffing professionals (also called "recruiters") to collaborate for the purpose of matching job openings to potential candidates. Dayak is a platform which uses an open marketplace to derive the optimal price for contingency recruiting services.

How it works:
Dayak facilitates communication in two distinct transaction types; employer-to-recruiter and recruiter-to-recruiter (aka, split placements).

Employer-to-Recruiter Transactions
Employers post jobs for free on Dayak’s recruiting marketplace and determine for themselves what contingent fee (see Pay for Performance) they are willing to pay should they receive a candidate they hire for that role. 

Recruiting and Staffing professionals access Dayak free of charge, recruit for open job orders and submit candidates through Dayak’s recruiting marketplace. Jobs posted with higher placement fees attract more recruiters and vice versa. Therefore, optimal pricing for contingency staffing services is determined by economic market pressures, predominantly supply and demand.

When an employer hires a candidate submitted through the recruiting marketplace, Dayak collects the placement fee that the employer stated they were willing to pay, then pays the recruiter while retaining a portion of the fee as transactional revenue. 

Recruiter-to-Recruiter Transactions
These types of transactions work in a similar manner except that instead of an employer posting their job opening, the job is posted by another recruiter. Typically, a recruiter will have a contract in place with an employer stating that they will receive monetary compensation in exchange for locating a candidate for one or more of the employer's job openings. In some instances, the recruiter may seek the assistance of other recruiters for the candidate search and may offer to share the resulting placement fee collected. Dayak's recruiting marketplace facilitates the communication between the recruiters in this transaction. 

In recruiter-to-recruiter transactions, the recruiter who is asking for recruiting help posts the job on Dayak's marketplace instead of the employer themselves. Just like jobs posted by recruiters, the recruiter who places the job on Dayak names the contingency fee they will pay to other recruiters should the correct candidate be identified. The fee amount offered can later be raised or lowered in order to reach the optimal price point as based on market conditions.

Category:Recruitment Category:Employment Sources: FAQ on Dayak's website HRMarketer interviews Dayak's CEO Definition of contingency recruiting from WiseGeek.com