AI recruitment startup Refer can help find you a job instead of stealing yours — but it will cost you
AI recruitment startup Refer can help find you a job instead of stealing yours — but it will cost you.
Generally, when people are approached by recruiters about a possible new job, they don't have to worry about paying any sort of fee. That's typically covered by the company doing the hiring. But this is the age of artificial intelligence — and everything is different now.
A new startup called Refer approaches recruitment and job hunting in a novel manner, but it's one that puts the onus of payment on the job seeker, who will have to surrender 20% of their first month's salary (1) once they start the new gig.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here's what it is and 3 simple steps to fix it ASAP
Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going
Refer uses AI and handles the recruitment process in a mirror version of how it typically goes. Instead of working for the companies, its AI agent, which it calls Lia, acts on behalf of the job seeker. Think of it as a virtual talent agent of sorts.
You'll initially tell Lia what sort of job you're looking for, your experience, preferred salary and additional details. From there, it will search for potential matches and, if you give it permission, Lia will send an email to the hiring manager on your behalf.
The system seems to be working. Refer's founder says more than half (2) of the service's users secure an interview within 24 hours of an introduction. To date, it has facilitated over 5,000 interviews.
Introductions come after both the job seeker and the potential employer express interest. Users can request for Lia to make up to five introductions per day. Employers then have three days to respond. The service bypasses traditional online applications entirely, saying they don't work.
If a candidate decides the job isn't for them, they explain why to the AI, which helps to train it to find more appropriate openings.
Refer works with approximately 2,000 employers and its current database spans 7,000 jobs, with a heavy emphasis on software engineering and other tech openings. That work, however, is handled by the humans on staff.
"While we use AI in our processes, our (human) team works hard to build and maintain relationships with decision makers at top tech companies, 'networking' on your behalf," the company writes on its website (1).
Read More: Are you paying too much for car insurance? Here are 3 clever ways to slash your monthly bill
While paying for the opportunity to work is certainly an unusual model, Refer is arriving on the job-hunting scene right as worker's frustrations hit new peaks. An estimated 84% of all job applications are ignored (3) today, and nearly 40% of job seekers say they are sending 20 applications per week, according to Robert Walters.
Hiring managers, meanwhile, are receiving a flood of AI-written resumes and cover letters that workers try to pass as their own work. That only increases the ghosting by potential employers.
In June, 4.3% of the U.S. population was unemployed (4), a notable jump from three years ago.
Refer's methods are turning heads in financial circles as well. The company has raised $10 million in seed funding (2) over two rounds.
Here are the 7 top habits of 'quietly wealthy' Americans. How many do you follow?
