Securing employment can be a tricky thing when you’re just starting out. It takes experience to land a job, but if you haven’t yet had one, then how are you supposed to catch a break?
Launching today to the Melbourne market (with Sydney in testing phase), Weploy is a new recruitment platform allowing users to apply for short-term positions (they’ve already secured employment opportunities from companies like VICE Australia, RMIT University and General Assembly) using psychometric testing, instead of the traditional CV.
Weploy was founded by serial entrepreneurs Nick La and Vince Luong (who, between them, have previously founded a restaurant, hospitality recruitment platform, bathroom vanity company and Scandinavian e-commerce business and more). They themselves have struggled to hire reliable temporary staff.
Know your vision, build the right team, and get the fundamentals right.
“Having run businesses before Weploy, Vince and I both experienced issues with staffing and recruitment frequently, despite operating in separate industries,” Nick explains. “We got talking about our frustrations one night over drinks and it dawned on us that the problem was not unique to us, but impacts people across different industries and countries. [We] realised if we bought technology into the mix, we could solve the problem globally.”
Following detailed discussion about their ideas for the potential platform, Nick and Vince’s next step was to tap into their networks to understand the viability of their burgeoning idea. When the feedback was positive, they set about fundraising.
“Weploy has received AUD$1 million in seed funding,” Nick explains. “We initially secured AUD$400,000, however we grew and met our milestones so quickly that our investor [agtech mogul Van Leong] was impressed and re-invested an additional late-seed amount of AUD$600,000.”
It didn’t take long for their investor to identify with the Weploy product.
“[Leong] immediately related to this problem as something he also experienced building his own business, and instantly saw the value in what we were trying to achieve.”
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In place of a CV, Weploy offers candidates the opportunity to apply for jobs via psychometric testing, thus eliminating potential discrimination based on the vicious cycle of having too little experience, as well as factors like gender and ethnicity.
Safeguarding against employment discrimination was of particular importance to the Weploy team.
“[To say it means] a lot is an understatement,” Nick explains. “Myself, Vince, [Head of Growth] Tony [Wu] and most of our team have all faced some kind of discrimination growing up, as well as in the workplace. To be able to create a platform which removes the stigma embedded in the recruitment industry, and help people get jobs they love without being held back by their name or cultural background, is something we’re deeply passionate about.”
The platform is also just as committed to gathering reliable employers as employees, to help a supportive two-way recruitment process, also setting compensation for “Weployees” at 10 per cent above the market rate.
To be able to create a platform which removes the stigma embedded in the recruitment industry, and help people get jobs they love without being held back by their name or cultural background, is something we’re deeply passionate about.
“Our industry research revealed a lot of inefficiencies, a huge lack of transparency and many situations where employers were paying inflated margins for under-qualified employees who would see only a fraction of that rate,” Nick explains. “We strategically set our rates at 10 per cent above average to attract the best talent, and set our margins lower so employers are better able to access these skills. We’ve had great feedback on our business model from both sides of the user-base.”
“Weployees” are also classified as staff, as opposed to contractors, and receive working insurance and superannuation – another aspect setting Weploy apart from other recruitment providers.
With a global expansion in mind, the team of 10 (in addition to advisors) is perfectly poised to achieve that mission, thanks to their combined business savvy and dedication.
“Although a tech business may differ to a retailer or a consultancy from a service/product offering, the core of it remains the same. Know your vision, build the right team and get the fundamentals right.”