THE SOLUTION OFFERED BY RECRUITEX
The challenges statements described moved us to develop a solution that aims to address the shortcomings inherent to the lead generation process while adding value to all stakeholders. Engineering the solution was completed in association with Entrepreneurial Assessment Professionals and cloud based
system engineering specialists. The result of our efforts throughout 2017 is the launch of a solution referred
to as Recruitex in January 2018.
An important underlying principle relating to the solution is the concept of requiring candidates to be able to successfully navigate their way through a procedural process as part of their assessment for franchise fit. Although the process may seem to a candidate to be quite cumbersome, the process is not hard, but it is long and thorough. The process is in and of itself an assessment because if a candidate cannot or would not follow the instructions relating to the application process, the chances of him/her following the instructions of the franchisor's business system are slim. Experienced franchisors appreciate the direct relation between a properly compiled and detailed application process and adherence to the prescriptions of the business system.
While the detailed functionality of Recruitex is best explained through a live demonstration, the key features and core processes of the application is explained below.
CORE FUNCTIONALITY
The Recruitex solution incorporates a number of functional modules aligned to effectively manage leads, regardless of origin, through a process of information sharing, multi-level assessment and eventual full application and disclosure by a prospective candidate.
The Recruitex process starts by the platform hosting a ‘freshly prepared’ public franchise prospectus document, explaining the franchise opportunity in detail and the application process. Linking from the primary website of the franchisor, this page will serve as the landing page to where all other incoming leads, generated by any website, social media platform or scanned QR code, will be directed. From the landing page onwards, all pages carry the branding of the franchise as if embedded in the franchise’s primary website. The candidate will believe he or she never leaves the website of the franchisor.
The route a prospective franchisee must follow is explained below:
Franchisee registration
- All prospective franchisees will be required to register on the Recruitex platform and fill in their full details.
Franchisor Approval
Upon franchisor approval, the applicant is invited to proceed to full application stage.
Credit Check
Recruitex conduct a full credit check, employment history, address and contact detail history, directorship status, financial exposure verification as well as criminal record enquiries if needed. (All with the applicant’s consent)
Entrepreneurial Assessment
Each applicant must then take a comprehensive entrepreneurial and franchisee aptitude assessment (costing them R345). The results of this assessment are accessible by the franchisor and are scrutinized and evaluated by the franchisor, thereby reducing the number of low quality applications.
The applicant fills in personal details & uploads documentation
The set of forms are database-driven & comprehensive that collects personal details and records all of the applicant's information. The applicant then uploads all their documentation typically required by funders, who will ultimately access the information from the same platform with the consent of the prospective franchisee.
Value Add Extra Information
- In addition to the above Recruitex allows the franchisor to compile and include a custom questionnaire on brand specific questions not included elsewhere.
- The Recruitex solution hosts a central registry/dashboard on all leads with reference to the progress on every lead with links to all supporting information and documents.
- Through the Recruitex platform all sources of every lead, regardless if generated through print or digital media, is identifiable which is essential to campaign planning and budgeting. Event, billboard or print publication sourced leads will be identified and tracked via a QR code.
- The franchisor may opt to engage Recruitex to conduct an in-depth interview of any applicant by a trained industrial psychologist in terms of a prospect application review and fundability investigation in addition to the range of verification checks. The cost will vary depending on the franchisor’s requirements, and will be shared between applicant and franchisor. If the franchisor takes out top package this fee is included.
HOW TO JUSTIFY THE SUBSCRIPTION COST
RecruitEx is a unique and industry specific software solution, which has been developed to address certain risks and typical inefficiencies associated to the recruitment of franchisees. RecruitEx is not an advertising platform and there is no similar product or service to be able to compare the cost to.
In order for any franchisor to be able to make a business decision on the value of the platform, the following considerations should be taken into account as they all represent a direct or indirect cost or benefit to any franchisor:
The cost associated with allowing a franchisee into the network that should never have been there in the first place.
Hindsight is a perfect science and it is often very clear after the event why a franchisee should never have been approved.
The wasted cost as the result or delayed or rejected financial applications
Due to insufficient information or incomplete research on the financial profile of a candidate.
Wasting money on advertising that does not deliver
Advertising spent on the wrong media simply because the number of converted leads could not be related to the actual spent on such media. Pure numbers of unqualified leads only is not a true measure.
The solution provides for an option to participating franchisors to exchange qualified leads
Assessed candidates can be shared between brands and business systems in case the original brand enquired on cannot accommodate a franchisee for reasons such as insufficient own contribution in relation to set-up cost, geographical saturation or limited skills profile.
Wasted cost of your brand development manager’s time
for sifting through endless enquiries and entertaining discussions and introductory meetings before sufficient profile research has been performed on candidates.
Commercial and development funders attach a fair amount of risk mitigation value to the Recruitex solution
which will positively impact on their credit decisions.
The solution incorporates a comprehensive cloud based lead management system providing access to any authorised person on the detail, status and progress relating to every lead.
The exact monetary effect relating to the arguments presented in justifying the cost, can be deemed subjective and
open to argument in terms of relevance to your business but the quantum remains meaningful.