Diffusion Digital 2020 - Base Camp Q&A with Zinc

TL;DR

Zinc is working to digitize and streamline the outdated work referencing process, allowing candidates to own, view, and reuse their reference checking data.

Transcript

um we're live hello and now we're live welcome back to this rapid-fire Q&A extravaganza for those of you who went into that I'm one of the partners in the head of operations out life working on portfolio advisory and our Basecamp accelerator thanks for joining this this Q&A session with zinc and just a little surf at the beginning Basecamp is work ... Read More

Key Insights

• 💦 The traditional work referencing process is outdated, manual, and inefficient, often resulting in biased information and inconveniences for both candidates and recruiters.
• 🤑 Zinc aims to revolutionize the referencing process by digitizing it, allowing candidates to own and reuse their reference data, saving time and money in the hiring process.
• 🥹 Work data, including references and employment history, holds significant value and can be used for various purposes beyond job applications, making it an essential part of self-sovereign identity.
• 😆 Zinc's tool has gained traction in the market, with steady revenue growth and a core group of satisfied early customers, including well-known companies.
• 👋 Successful hiring processes today focus on being data-driven, providing a positive candidate experience, and emphasizing speed in finding and hiring the best talent.

Questions & Answers

Q: What motivated Zinc to create a solution for the referencing process?

The founders of Zinc were frustrated with the inefficiency and lack of useful information in the traditional referencing process. They wanted to create a product that could streamline and improve the process, while also respecting individuals' privacy.

Q: How does Zinc's tool improve the efficiency of the reference checking process?

Zinc's tool digitizes the reference data and creates a provable audit trail. This means that references only need to be taken once and can be reused multiple times, saving up to 75% of the time spent on referencing. It also benefits both recruiters and referees by reducing repetitive tasks.

Q: What traction has Zinc gained since launching their product?

Zinc launched their product in early 2019 and has experienced 58% monthly revenue growth since then. Despite some challenges in recent months due to the current environment, they have gained a core group of early customers, including companies like HelloFresh.

Q: How does Zinc see work data becoming valuable in the future?

Zinc believes that work data will be crucial in the future as it holds essential proofs about individuals, such as credibility in the workplace, financial and criminal records. By capturing and recording this data, Zinc can offer individuals the opportunity to own and reuse their work data for various purposes beyond employment.

Summary & Key Takeaways

• Zinc is a company that aims to transform the work reference process by digitizing it and providing a provable audit trail for reference data.

• Their tool eliminates the need for repetitive referencing and saves time and money for both recruiters and candidates.

• Work data, including employment history and references, is considered valuable and can be used for various purposes beyond job applications.