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8/19/2005
02:43 PM
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New Website Offers Job Seekers Sign-on Bonuses

A new website for job seekers and employers is offering to split finder's fees with job seekers.

A new website for job seekers and employers is offering to split finder's fees with job seekers.

Marketing entrepreneur Sunil Tagare officially launched G2Bay.com on Friday. By noon, the global recruitment site listed more than 2,000 resumes. More than 1,400 resumes were from India, but others came from the United States, Germany, the United Kingdom, Japan, China, Saudi Arabia and Kuwait.

"You no longer compete with your next door neighbor in Silicon Valley for the best jobs," Tagare said in a statement. "Your competition is in Bangalore, Shanghai, Vancouver or even Burundi. A US company can now hire a candidate from Philippines to work in their London office."

Tagare, founder and CEO of market research and database services company Research4 Inc., said he believes employers will be drawn to his low recruitment expenses. G2Bay.com will charge 10 percent of the compensation offered to employees. The company will split that with job seekers. So, someone who obtains a $100,000 annual salary will receive a $5,000 signing bonus after completing three months of employment, according to the website.

"They spend hours designing their resumes, spend a fortune to make sure their resume looks professional, often pay steep fees to mass-mail their resumes and agonize over every typo they make," Tagare said in a statement. "Yet everyone other than the job seeker makes tons of money on their resumes. It's not fair."

The privately-held company, based in Los Altos, Calif., promises 10 new modules in the next several months. Tagare said they will all offer a means for people to buy and sell information. The website's name is derived from the military's term for intelligence or information.

Tagare developed the concept of the Fiber optic Link Around the Globe (FLAG), the first privately financed submarine fiber optic cable to link several continents around the world. As executive vice president of Marketing and Business Development at NYNEX (Verizon Communications), he helped improve communications in Spain, Italy, Egypt, India, Saudi Arabia, China, Hong Kong and Japan.

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