North Chelmsford, Mass., January 12, 2000 -
Net-Temps, the contract employment portal of the Internet, and
WorkExchange, the largest networked marketplace for work, today announced
Net-Temps has joined the WorkExchange network.
The nature of work is changing rapidly. Businesses are migrating their
work from permanent employees and internal projects to temporary workers
and outsourced projects. The US Census Bureau estimates that there are 7.5
million freelancers in the US, and outsourcing has grown to a multi-billion
dollar industry. WorkExchange serves this growing industry by enabling
employers to interact and transact with the largest pool of talented
"This partnership represents a substantial enhancement for Net-Temps'
7000 staffing agency subscribers, providing them an increased pool of
contract opportunities for their candidates," said Net-Temps president and
co-founder, Gregg Booth. WorkExchange can be found on the Net-Temps site
in the Job Seeker and Recruiters Desktops.
"WorkExchange will greatly expand Net-Temps' product and service
offerings, allowing Net-Temps' members to access the world's largest
marketplace for finding, securing and managing work," said Jason Salgado,
CEO and Co-Founder of WorkExchange.
WorkExchange has grown to be the largest marketplace for work with over
30 partners and 20,000 members by employing a unique business model.
Unlike a destination site, users access the WorkExchange marketplace
through co-branded gateways from its partners' websites, forming a
super-exchange. Each time a website links to the WorkExchange network, it
pools its employers and freelancers into a massive networked marketplace,
increasing the number of opportunities and the value of the network
dramatically. As a result, WorkExchange has been able to quickly aggregate
the Internet's highly fragmented project work market into a single
Benefits for Employers and Freelancers
WorkExchange enables job seekers to access work opportunities across
multiple network partner sites, select and bid on the most appealing ones,
and manage those projects online. Job seekers can also create a personal
profile including a portfolio of best projects, build a personal brand and
establish a reputation through the WorkExchange rating system.
Employers can post projects, manage an outsourced workforce, reach the
entire world of job seekers on the web, and hire the best freelancer for
the project they are trying to staff. WorkExchange helps employers choose
the candidates best suited to deliver their projects both on time and to
Finding, Securing and Managing Work
When an employer posts a project on WorkExchange, they can 1) use
WorkExchange's proprietary matching engine to select the best-qualified
freelancers and alert them to bid on the project, or 2) search the
freelancer profiles and invite only selected freelancers to bid on the
project. After receiving bids from interested freelancers, the employer
can choose one based on their skills, cost for services or their estimate
of how long it will take to complete the project. Both parties can use
WorkExchange's tools to manage projects including messaging and file
sharing to communicate with one another and complete the project.
WorkExchange is adding back office and community services for
freelancers including tax and legal advice, medical benefits, 401K
services, professional memberships and on-line training. In the future,
WorkExchange will make the natural move to broaden its network, enabling
its partners to also offer a super-exchange for temporary and long-term
WorkExchange (http://www.workexchange.com) is the first super-exchange for
work, linking its partners to form the largest networked marketplace on the
Internet. Through the WorkExchange network, employers and job seekers can
find, secure and manage project work online.
Dynamically linking over 30 partners including portals, job sites,
staffing agencies and small business sites, WorkExchange has gained
critical mass through a unique business model that aggregates the
fragmented online project markets into a central exchange for qualified job
seekers and employers. Based in Santa Clara, California, the company was
founded in 1999 and is funded by Draper Fisher Jurvetson and Audrey
Net-Temps is ranked the number one online job posting board
specializing in contract professionals and is consistently ranked in the
top 10 Websites with job postings based on traffic by Media Metrix and
Neilson Net Ratings. Net-Temps job posting service provides an effective
means for staffing agencies, human resource professionals and small
business executives to take advantage of electronic recruiting. Hundreds
of thousands of job seekers post resumes and search for jobs at no cost.
Jobs are organized into industry-specific employment channels making it
convenient to inquire about available positions and apply on-line. Further
information about Net-Temps is available at www.net-temps.com.