rec-X Synopsis  

(Press release)

· In the news…recruitment issues

 “a tight jobs market leaves employers struggling to recruit skilled staff.” The Times Dec 7, 2004

 “Two-thirds of directors in the [CBI] poll of companies with more than 50 employees said their sectors were feeling the effects of skills shortages and half said their businesses were suffering. 

This follows a finding by the Recruitment and Employment Confederation and Deloitte that skills shortages were at a seven-year high.” Financial Times, Nov 8, 2004

“a fifth of job vacancies in England stay unfilled because there is a shortage of skilled applicants.” Guardian, Feb 2, 2004

·The recruitment market…the problem

Over 80% of employers currently use recruitment agencies to source their future employees.  At present, there are over 15,000 agencies in the UK to meet this demand, with many cities having over 200 to choose from.

It is not time effective for employers to contact hundreds of agencies – on average employers contact only 2-3 agencies which could equate to 1% of the potential in their area.

Employers need a more effective way to find their perfect candidate.

·The solution … rec-X, the recruitment broker

Up and coming British entrepreneur, Cengiz Somay, is set to shake-up the £25 billion recruitment market in the UK, with the launch of rec-X, a new web-based tool that helps employers find the people they need, free of charge.

rec-X resolves the problems in the recruitment market by matching employers with the 13,000 recruitment agencies currently registered, and their pool of candidates.

rec-X takes vacancy details from employers and identifies agencies who operate within the relevant specialist area and location.  rec-X then sends these agencies news of the vacancy,  keeping the employers details anonymous.  Agencies have 5 days to work on the vacancy, presenting their best candidates and fees to the employer through the site.

Employers are given back control of their recruitment process – they still pay agency fees but using rec-X will not cost them a penny.  Agencies gain a consistent flow of live vacancies, making cold calling a chore of the past.  rec-X is a win-win solution for both parties.

·rec-X..…. the aspirations

“rec-X will change the face of recruitment, and we are confident that 1 in 3 UK employers will be using rec-X to pre-select candidates by the end of 2005”

“Our strategy is clear. To launch rec-X in North America by the second half of 2005, with flotation in early 2006”       

A press release and CD providing a short demonstration of the website, showing how the tool will work for both employers and recruitment agencies, will be issued nearer the launch date in February 2005.

In the mean time, for further information on rec-X, digital images and interview opportunities with Cengiz Somay,  please contact Joanna Townsend @ Wyatt International PR on 0121 454 8181. 

·(5/1/05)