Finding enough specialists in the tight Swiss labor market can be extremely challenging. Found, a startup, thinks it has a solution in hand.

According to Ranjit de Sousa, general recruitment processes haven't really changed all that much - in like the last two hundred years. Digitalization has managed to move job ads onto internet platforms and algorithms can help companies fumble through piles of applications, but everything else remains the same. That is somewhat jarring given that the nature of work itself is changing rapidly. The consequence of all this is a dysfunctional labor market. 

Now the co-founders of startup Found think they have something better.

«Employers are desperately searching for the right know-how and complain about the lack of expertise. Frustrated employees cling to their jobs because the effort to look for a new job is so high», maintains the HR entrepreneur, previously a senior manager at staffing provider Adecco. 

Online Game

A key deficiency in the current job market is the lack of data. It is readily known that 85 percent of job applicants exaggerate credentials on their CVs or even put in false information. This, at the same time that companies posture for some Superwoman or Superman while refusing to disclose key details, such as salary. All of that taken together makes objective information a critical imperative. 



That is where Found, which was established in spring, comes in. It asks applicants to play an online game based on neuroscience that evaluates their knowledge and behavior. It doesn't just test what they know but how they solve problems and more. «We don't give grades but keep the different qualities they have», the entrepreneur says.

Dozens of Companies

At the same time, Found also gets relevant information, such as salary, from employers, as well as the digital tools, a so-called tech stack, that the employees will need to be comfortable working with on specific jobs.

According to them, they have found about 60 companies as clients in the past few months and made contact with 750 applicants in the labor market. They have also secured their next round of funding in order to expand further, getting 2.2 million in fresh capital.

Investment by Ex-Adecco-CEO

Some reputable names are in the mix, including Patrick De Maeseneire, the former CEO of Adecco and chocolate maker Barry Callebaut, Tobias Ursprung, one of the founders of private equity boutique  Capvis, as well as Stefan Muehlemann, who until recently was chairman of Zurich fintech Loanboox, which he also founded. On top of that, London-based venture capital Arc Investors has also stepped in. 
 


They all believe in the disruptive power of Found's business model. Indeed, many of the ingredients are there. Even if it doesn't turn personal recruitment on its head, it is likely to at least have a very significant impact.

A Pitch in 60 Seconds

Then there is the pricing. In contrast to headhunters that charge a commission on the future salary of new hires, Found charges of flat fee of about 19,900 francs for each successful recruitment. That is a relatively modest amount for salaries that range from 100,000 francs to 250,000 francs, which is normal for executive jobs in tech.

The HR startup also wants to turn the application process around completely and digitalize it. Its software selects a maximum of five employees per job opening according to the best matches of a company's criteria. After that, the company, and not the employee, have to apply.

That usually takes place with video pitches that are limited to 60 seconds. Found helps the companies with that and if there is a match, then the application goes on to a second round.

The US Market

Found also has ambitious growth plans, according to founders de Sousa and Georg Hirschi as well as tech head Niklas Nyholm. They intend to expand to the US next year and they also want to go fully global at some point. But the truth is they still cannot fully rely on digital tools.

Beyond social media, word of mouth is also critical when it comes to a company's pool of candidates.

«That is how about 35 percent of our community came to us», explains de Sousa.