TempAuction: Tom Rowbottom
Left frustrated while trying to find temporary workers, the former civil engineer decided to create a recruitment platform designed especially for temp staff
Name: Tom Rowbottom
Company Name: TempAuction
Location: Yorkshire and the Humber
Date Launched: 01/04/16
No. of employees: 1
Tell us what your business does:
TempAuction is an independent, transparent and competitive marketplace for the procurement of temporary workers from our network of rated and reviewed recruiters.
Where did the idea for your business come from?
Having worked as civil engineer for the last 10 years, the idea came to me while dealing with the frustrations of finding temporary workers to resource my construction projects on a weekly basis.
How did you know there was a market for it?
The skills gap in the UK is growing and growing, this was very apparent in the construction sector with large projects snapping up and retaining the best workers. There was a big gap in the market for a platform which allows employers to easily widen their net beyond their usual suppliers.
What were you doing before starting up?
I was a civil engineer specialising in geotechnics, managing specialist design, supply and construction projects
Have you always wanted to run your own business?
Yes, the challenge and satisfaction of starting a business has always been very appealing to me.
How did you raise the money?
Savings and extracting some equity from a property.
Describe your business model and how you make money:
TempAuction is free for employers to use, they create job auctions and our network of recruiters bid to place their candidates.
We charge recruiters on a pay-per-bid basis, this way bids are backed by some level of financial commitment, therefore maintaining a high quality of bid.
Temporary worker charges are also processed through the platform, we pay the recruiters in time for pay day and take on ownership of the employer’s debt. A handling charge is deducted in exchange for risk free funding.
What challenges have you faced and how have you overcome them?
Not having a recruitment background. I knew the concept worked from the employer’s side, however I needed to reach out to my connections to help develop a product which provides real value to both sides of the coin.
What was your first big breakthrough?
We had 20 recruiters sign up within a week of going live. Receiving the first validation of your concept is a good feeling.
What advice would you give to budding entrepreneurs?
When you encounter a problem, not only work to resolve it, but to turn it round to work in your favour.
Where do you want to be in five years’ time?
I would like TempAuction to be the MoneySupermarket of recruitment. A user moderated marketplace which provides employers with trusted recruiters and temporary workers.