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Product Solution

TalentSwift - Tiered Subscription Plans with Value-Added Features

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Created On

April 19th, 2024

Product Manager

Salma

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Problem Alignment

Background

In the contemporary landscape of recruitment, businesses are constantly seeking ways to optimize their hiring processes, aiming to attract and select the most qualified candidates efficiently and cost-effectively. However, the existing challenges within hiring platforms often hinder recruiters from achieving these objectives seamlessly. One prominent issue is the lack of flexibility and transparency in subscription plans offered by hiring platforms.

Currently, many hiring platforms offer one-size-fits-all subscription models, providing a standard set of features regardless of the varying needs and budgets of recruiters. This approach often leads to frustration among users, as they may end up paying for features they do not require while lacking access to advanced functionalities crucial for their recruitment strategies. Moreover, the absence of clear differentiation between subscription tiers and the associated value-added features exacerbates the problem, leaving recruiters uncertain about the benefits they can expect from each plan.

The formulation of the problem stemmed from comprehensive market research and user feedback, which highlighted the pressing need for a more flexible and transparent subscription model in hiring platforms. Data collected from surveys, interviews, and market analysis revealed recurring complaints from recruiters regarding the high fees associated with advanced features, coupled with the limited customization options available in existing subscription plans.

For instance, surveys conducted among HR professionals and recruiters consistently reported dissatisfaction with the lack of affordability and value for money in their current hiring platform subscriptions. Many expressed frustration over being forced to pay for features they did not use or need, while essential functionalities remained inaccessible due to high pricing tiers. Additionally, market analysis revealed a growing demand for hiring platforms that offer tiered subscription plans with clear feature differentiation, allowing recruiters to choose the plan that best aligns with their specific requirements and budget constraints.

Overall, the background analysis underscores the critical importance of addressing the existing shortcomings in subscription models offered by hiring platforms. By introducing tiered subscription plans with value-added features, platforms can better cater to the diverse needs of recruiters, enhance user satisfaction, and drive greater adoption and retention among their target audience.

Data Evidence

89% of recruiters are aware of the fees associated with recruitment platforms.

76% of recruiters perceive the fees for accessing additional features on recruitment platforms to be high.

62% of recruiters consider the fees as a significant factor in their decision-making process when choosing a recruitment platform.

Challenge

How might we create tiered subscription plans that offer flexible pricing options tailored to the needs and budgets of different users?

How might we develop value-added features that justify higher subscription fees and provide tangible benefits to users?

How might we optimize pricing strategies to ensure that users perceive the cost of advanced features as justified by the value they receive?

Success Criteria

Outcome, criteria or matrix reference to be achieved from solutions

Quantitative Metric: Achieve a 20% increase in overall user satisfaction ratings, as measured by post-interaction surveys conducted quarterly.

Quantitative Metric: Increase in Revenue - Achieve a 15% increase in average revenue per user (ARPU) within the first six months of implementing Tiered Subscription Plans.

Qualitative Metric: Positive User Feedback - Obtain a minimum of 80% positive feedback from users regarding the value-added features and pricing structure, as collected through user interviews and feedback forms.

Adoption Rate: Achieve a 25% increase in the adoption rate of higher-tier subscription plans compared to the baseline within the first year of launch.

Retention Rate: Maintain a customer retention rate of at least 85% for users subscribed to the highest-tier plan over a 12-month period.

Competitive Positioning: Attain a position among the top three preferred hiring platforms in terms of value for money and feature richness, as assessed by industry analysts and user reviews.

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Proposed Solution

To address the challenge of limited information and flexibility in candidate profiles, high fees associated with advanced features, and bias in candidate screening algorithms, we propose implementing Tiered Subscription Plans with Value-Added Features. This solution aims to enhance the hiring platform's functionality and address the specific pain points identified by users.

Components of the Solution:

Tiered Subscription Plans: Introduce different subscription tiers tailored to the varying needs and budgets of recruiters and hiring managers. Each tier will offer a different level of access to platform features and services, allowing users to choose the plan that best fits their requirements.

Value-Added Features: Enhance the platform with value-added features designed to improve user experience, streamline the recruitment process, and mitigate existing pain points. These features may include:

Advanced Candidate Search Filters: Provide recruiters with advanced search filters to refine candidate searches based on specific criteria such as skills, experience, and location.

Candidate Screening Tools: Implement screening tools powered by AI and machine learning algorithms to minimize bias and improve the quality of candidate matches.

ATS Integration: Integrate with popular Applicant Tracking Systems (ATS) to streamline the recruitment workflow and facilitate seamless data transfer between platforms.

Customizable Job Description Templates: Offer customizable job description templates to help recruiters create compelling job postings quickly and efficiently.

Benefits:

Enhanced User Experience: Tiered subscription plans will offer users greater flexibility and choice in selecting features that align with their needs and budget.

Improved Recruitment Efficiency: Value-added features such as advanced search filters and candidate screening tools will enable recruiters to identify and evaluate high-quality candidates more effectively.

Cost Savings: By offering tiered subscription plans, users can choose a plan that matches their budget and avoid paying for features they do not need, resulting in potential cost savings for businesses.

Reduced Bias: Implementing candidate screening tools powered by AI can help mitigate bias in the recruitment process, promoting diversity and inclusion in hiring decisions.

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User Stories

List all Requirements as detail as possible which includes scenario role, pre-condition, action and impact.

Example for User Story, Scenario, and Acceptance Criteria

User Stories

Scenario

Acceptance Criteria

As a recruiter, I want to access advanced candidate search filters and screening tools, so I can efficiently identify and evaluate high-quality candidates for job vacancies.

Given that I am a recruiter logged into the hiring platform When I navigate to the candidate search page and apply advanced search filters based on skills, experience, and location Then I expect to receive a refined list of candidates that match the specified criteria.

The hiring platform provides access to advanced search filters, including options to filter candidates based on skills, experience level, education, and location.

Upon applying the search filters, the platform generates a list of candidates that meet the specified criteria.

The platform allows recruiters to view detailed profiles of individual candidates, including their resume, work experience, and skills.

The screening tools utilize AI and machine learning algorithms to assess candidate qualifications and provide recommendations based on objective criteria, minimizing bias in the selection process.

As a business owner, I want to choose a subscription plan that aligns with my budget and provides access to the necessary features for efficient recruitment processes

Given that I am a business owner exploring subscription options on the hiring platform When I review the details of each tiered subscription plan Then I expect to select the plan that offers the best value for my budget and provides access to essential recruitment features.

The hiring platform offers multiple subscription tiers, each with distinct features and pricing.

The platform provides clear and transparent information about the features included in each subscription plan, such as advanced search filters, candidate screening tools, and job posting options.

Businesses can easily compare the benefits and pricing of each subscription tier to make an informed decision.

The platform allows businesses to upgrade or downgrade their subscription plan as needed, providing flexibility to adjust based on changing recruitment needs and budget constraints.

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User Flow

On TalentSwift, recruiters and job seekers have distinct user flows. Recruiters post jobs, search for candidates, manage applications and interviews, and extend job offers. Job seekers browse jobs, apply, attend interviews, and receive offers. These flows are designed to meet the unique needs of both groups, ensuring a tailored experience on the TalentSwift platform.

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Recruiter User Flow

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Jobseeker User Flow

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