Forced to retire at 58, but don’t feel a day over 40? Wish you could take a second chance and use your time productively? Well you’re not alone. India had over 77 million people over the age of 60 in 2001. This is set to grow to 324 million by 2050, implying a spike in the number of people who will retire in the country.
Talent58 is a venture that is looking to serve retirees who are looking for jobs post-retirement. A job portal for retirees only, it was founded by 23 year old Pankhuri Bindal in July 2013.
Pankhuri was working as an HR employee at Polaris when she came up with the idea of a employment portal for retirees.
“In my line of work, I used to meet many people who were reaching retirement age and could not find suitable opportunities to work thereafter. That is when I realised that there is a huge potential in this space,” says Pankhuri who is also a St.Stephens and Narsee Monjee graduate.
How does Talent58 work?
Retired and soon to retire professionals with over 15 years of experience can choose to work on jobs that are part-time, full-time, freelance or even on a project basis. The portal also caters to professionals who have opted for the Voluntary Retirement Scheme(VRS).
The company has two options – find a job and find expert – for job seekers as well companies looking for experts.
Recruitment firms or employers can register and post unlimited assignments for free on the website. Job-seekers can register, create profiles, upload resumes and start looking for jobs.
Talent58 lets job-seekers keep identifiable information anonymous until potential employers ask for information and the request is approved.
The portal that was made live at the end of December 2013, currently has over 200 users registered on the site. Jobs are posted across 30 categories on the site including jobs in banking, power management, and manufacturing.
Why would companies hire retired professionals?
“The idea has been conceptualized keeping in mind the dire need for highly experienced professionals in the country. Lakhs of people retire every year owing to Govt. regulations, while they still possess enormous amount of knowledge and potential that is invaluable for companies,” says Pankhuri.
Talent58 says that they look to cater to the many small and big companies keep on hiring senior professionals for senior managerial roles, consulting projects, liaising and more.
The portal currently functions on a freemium model for retirees looking for jobs online.
Talent58 charges companies looking for experts who list on their website, once they settle on a qualified candidate. The typical commission taken off of companies posting jobs is about 10% of the annual CTC given to the candidate.
The bootstrapped company currently has a 3 member strong team including founder Pankhuri. The development of the product is outsourced to third parties.
Going forward, Talent58 plans on integrating features like response management tools and SMS alerts for job seekers.
What Can Improve on Talent58?
There’s no doubt that Talent58 is quite a useful platform for people specifically looking for post-retirement jobs. A few things that the platform needs to work on
Design: It’s pretty basic and could be a little more intuitive.
Broken links: Some links are broken. While trying to sign up, the site redirected to the “opportunities” page, links to the “my profile” page broken.