Dennis Zink: If you could explain the basic concept of your innovative service, Boomerswork?
Rick Emberly: Yes, happy to do so, Dennis. I guess what we've done is we've built a web or a technology platform that's designed to reach out to boomers. Exponentially, there's an ever increasing number of them in the market, obviously, and that age wave is moving through the society and moving through the economy rather rapidly.
We've really created a matchmaking service that will connect those boomers, because many of them wish to continue to work, with employers, employers, frankly, in just about any area. They can be private businesses, private corporations, can be public sector organizations, can be not for profits and so on. We've chosen specifically to focus our efforts on what we call senior boomers. They're essentially people who have 15 or more years experience holding senior management, executive roles and so on, particularly in the back ends of their careers.
Dennis Zink: What makes this service so timely? Why would boomers sign up, and why would employers want these kinds of employees?
Rick Emberly: We think, frankly, that the convergence is a rather interesting one. At the same time that you have this rapidly increasing cohort of boomers leaving the so called traditional work force and coming to the back end of their regular careers, we're also hearing an awful lot these days about the talent deficit, which is why it's spread across almost every industry sector that you can think of. Some of that is in fact created by the exiting boomers because they held onto those positions, those senior management jobs, for 10, 15 years and even longer. Of course, when they exit the organizations, they leave these talent gaps that are not necessarily easily and quickly replaced.
We think we've arrived at a point here right now where that convergence of large number of boomers, lots of expertise, don't necessarily want to stop working, but don't want to be working in the traditional mode. They don't want the 9 to 5, and from lots of them, of course, it was a heck of a lot more than 9 to 5. They were the 60 hour a week people, not the 40 hour a week people, typically.
As I say, the organizations have increasing requirements to find people to fill some really, really important skills. I think the other element in this, actually, at the end of the day, is that the economy is such and has been now for a while and will be with us for a while, that organizations are frankly looking for economic ways to control costs. Bringing in senior skilled people on term type assignments as opposed to full time employment is a wonderful tool that can be used by them to maintain and manage those costs.
Tim Heron: Just to reiterate that from the employers' side, quite frankly, a lot of them are scared to hire people for a full time employment scenario when there's a general unpredictability in the economy with costs rising over overhead costs associated with all these things. It's a wasted opportunity not to leverage this talent pool in a more innovative way.
Dennis Zink: We see a lot of our SCORE mentors in a similar position, where they want to get back to doing something. Invariably, or fortunately for us, they do come to SCORE, and they become mentors for clients. There are a lot of job boards and recruiting services on the Internet. What distinguishes Boomerswork.us from the pack?
Tim Heron: What Boomerswork really seeks to do is to find the right combination of software automation and exceptional customer service, where if you look at the entire spectrum of staffing and recruiting on one side, you would have the traditional recruiting business, which is very resource-intensive, takes a lot of time, and if it's done right, you can achieve a high degree of quality. On the other end of that, you've got job boards, where you get a mass amount of quantity, but you're going to have to sift through a lot of stuff to find anything you're looking for, really.
Boomerswork sits somewhere in the middle on that line and combines this extremely complex algorithm which allows the boomers to register a profile in the system and allows employers to register their requirements for the job. There's a lot of automation in the matching process. When we combine that with actual experts from the Boomerswork team that help moderate the system and offer the right solution for the customer at a very expedited rate.