UK-based Tempo is the latest job board marketplace to announce funding with a USD $6.9 million Series A round. Like most new job boards, Tempo is attempting to differentiate with matching for both candidates and employers. They’ve also published a pay-per-hire that charges 20% of a temporary hire’s hourly wage or a flat fee of USD $3121 (based on today’s exchange rate) for full-time hires.
Job boards, long the leading category of HR tech investment, have been differentiating themselves with specialization across areas like geography, industry, job type, etc. Tempo’s site offers no such focus. Pay-per-hire models have been tested over the years, but most job boards fall back to more of a job advertising model. In a market with high candidate volume, it’s even more likely that Tempo will have a challenge with a pay-per-hire model, as we’ve seen in other economic downturns.