Category : Interview, Cloud, Technology
Reading Time: 5 minutes
(*) As a service – * is evolving and finding new business model every quarter.
This as a service model first found it’s roots in the below core functionalities:
IaaS – Infrastructure as a service
PaaS – Platform as a Service
SaaS – Software as a Service
and has extended to various topics like:
DaaS – Data as a Service
RaaS – Redis as a Service (Redis is a in-memory key-value cache)
Baas – Blockchain as a Service
Not a strict formula that RaaS is only suitable for Redis as a Service. It’s an example where ‘R’ can be replaced.
You can find similar services like this in Wikipedia
One such service that caught my attention in the last 6 months was Interview as a Service.
How does a normal hiring works. Let us look at this in a 3 dimensional format.
Problems faced by Candidates:
- Interviews gets cancelled at the last minute due to non-availability of panel members.
Problems Faced by Hiring Companies:
- Panel to handle any urgent/critical issues.
- Elimination percentage is higher during the intial rounds. Leads to additional time spent in screening.
Problems Faced by Hiring Vendor Partners
- Vendor partners are most affected when candidate does not attend the interview (Spoiling their reputation)
- Panel non-availability during the last minute.
Most of the companies have their in-house recruitment team and would have a tie-up with the hiring partners. However, the challenges mentioned above has opened up a new promising business idea.
How does IaaS model improve (or) solve this problem ?
- IaaS model provides a platform for volunteers to signup for taking interviews.
- They do a background check with the area of expertise and bucket them under the right panel team.
- Platform also provides a calendar to confirm the volunteers for their availability.
- Since the drive is commission based, there are less chances of panel non-availability. If the panel needs money, they make themself available.
This abstraction works as a bridge between the hiring vendor partner, hiring companies, candidates and panel members.
There are emerging startups that has got a lot of attention over the past 6 months in this domain.
This platform, Interview as a service also provides a passive income option for panel members. COVID-19 has forced the world to work remotely and this platform can see a higher engagement from Candiate as well as from panel members.
One disadvantage of this model from the panel member’s perspective is it cannot be considered as a constant source of income. There could be a drastic reduction in hiring process and if this is the only source of income then it might hit you hard.
In the next article, I will cover what are the platforms providing this service, challenges faced, pricing model etc.,