Recruitz.io changes its name into Wonderkind
Why we decided to change things radically, even though we grew from 0 to 3,5 million in 18 months.
Only 2,5 years ago we started our journey. A journey to battle against recruitment giants and to reinvent how companies find talent and vice versa. We failed, learned from our mistakes, succeeded and grew. From 4 FTE to 70 FTE in 1,5 years, we became a company in hypergrowth. Today, a new era has started: we are changing our name to Wonderkind. Recruitz.io is no more.
Disrupt or die
The idea is simple. Recruit where talent is active. Advertise your jobs on media that talent uses on a day-to-day basis. People open their phones 312 times per day and spend 2 hours per day on social media. Still, old habits die hard. When it comes to job advertising companies only have the option to attract talent on job boards. Places only visited by active job seekers. The strange thing is that active job seekers only account for 20% of the labor market. The majority isn’t actively looking for a job, but is open for new opportunities if the right offer comes along.
The benefit of advertising on platforms like Google and Facebook, besides getting access to passive talent, is that they have advanced targeting options, unlike job boards. No more post & pray, but only reach your ideal target group and no one else. One other benefit convinced us that this could potentially be a game changer in the recruitment industry. On social media and on Google it’s possible to run A/B tests. It allows you to test many variations and see what works best. For example; adverts (both images/video and copy), targeting settings, time/day of advertising and channels. Campaigns will be dynamic instead of static.
From day one we believed in automation. Automation gives us scalability, but also better performance. The number of A/B tests which can be done by hand is limited compared to automating the process. How obvious it sounds, yet no one was doing this.
Fail, learn, adapt and iterate
After validating our idea with 20 companies in our closed alpha, we felt comfortable enough to launch our software in June 2016. We were overwhelmed by the market reaction. Investors, clients and media – they all wanted something from us. We grew from 4 FTE to 26 FTE in 6 months. A completely bootstrapped and profitable company. But we made many mistakes and failed over and over again.
One of the major things we underestimated is the difference between active job seekers and passive job seekers. Simply applying the same strategy for both audiences doesn’t work. It took time before we realized that passive job seekers have a completely different mindset compared to active job seekers and we needed to adapt our processes to that mindset. Passive talent doesn’t fill out extensive application forms. Passive talent needs to be seduced. More and more, we learned that we needed to treat passive talent the same way as sales professionals treats leads. We copied what e-commerce is doing when it came to lead nurturing and that worked really well.
A year of hyper-growth
Since June 2016, we’ve grown towards a company of 70 talented people. Along the way, we have had incredible companies becoming our clients. We received an investment of 2 million euros from investment company Slingshot Capital. We moved to a bigger office in Amsterdam because most of the times we were forced to have meetings in the toilets. And to top it all off, we became Sprout startup of the Year 2016 and won ‘Best Tooling’ at the Recruitment Tech Awards. It was a year of failures and successes. Our revenue grew from 0 to 1,2 million euros and from 1,1 to 3,5 million within one year. And now, this startup has become a scale up and we have decided to do things completely differently.
Why Recruitz.io wasn’t a good fit
To be honest, Recruitz.io wasn’t really thought through. We’ve came up with this name in 5 minutes because we had to send an invoice – not very professional, we know. Recruitz.io has also been confusing because we reach talent beyond traditional recruitment. We help companies engaging with talent that matches best.
Wonderkind (internationally used as the word wunderkind) is a synonym for top talent. It also is a bastardization of ‘one of a kind’, another synonym for unique talent. To us, this is what we want to service our clients with. However, we did want to hold on to our Dutch roots. Therefore we’ve chosen to keep the Dutch ‘o’ and let it be Wonderkind.
We reach talent you never reached before
We found most people aren’t actively looking for a new job. They are out, living life. Doing what inspires them. So if you want to attract talent, whoever they are and wherever they’re from, you have to look in the right place. You have to look in life. And that’s exactly what we are doing. We target people based on their passion, in places that interest them. Because we believe that everybody wins when talent matches the job. Our new brand name and new proposition has been summarized in a 1-minute video. Click the video above to watch it.
Do you want to know how we work? Watch the demo on our website.