June 23, 2000 eProNet Boasts 100,000+ Online Database of Alumni Talent
ByDavid Needle

Companies looking for Internet talent will soon be able to tap into a database of over 100,000 alumni from 17 leading universities at eProNet . "No one else can offer what we have," says Andy Chan, CEO of eProNet based in San Mateo.

ePronet is a successor of University ProNet, formed by the Stanford University Alumni Association back in 1988. The current entity is a private for-profit venture in which all 17 participating universities have stock. For years ePronet has offered its clients a "managed search" where a prospective employer submits the type of candidate they're looking for based on qualifications and other criteria, and is given a list of possible matches.

But on July 5 eProNet opens up its database for clients to search as often as they like for a monthly fee of $499 (there is also a money back guarantee if a company is dissatisfied with the service after the first two weeks of use). Employers pay eProNet a 7.5% commission on first year salary plus signing bonus if a hire is made and 15% on all others. A portion of the commission goes to a designated alumni association. The managed search feature will continue to be an option.

"Most people in our database you won't find on Monster.com or hotjobs.com," says Chan. "The feedback we've had from clients is that we have a lot of people who are hard to hire because they aren't necessarily looking for a new job, but they are also the best quality out there. It's a question of getting them excited about new opportunities which we also can help with."

About 80 percent of the people in eProNet's database have over 5 years experience with advanced degrees and, on average, make over $100,000 annually. Thirty-five percent of the members are in California. There is certainly a demand for high tech talent. Microsoft has 3,000 unfilled positions and Cisco Systems hires 3,000 people every quarter (if it can find them), according to a recent article in the New York Times.

"Most people find new jobs by networking," says Chan. "Most online job sites replicate the model of newspaper classified ad sections. "What we're doing is saying (to alumni) that there's a network of recruiters out there we connect with you with, and it's up to you to use them or not." The eProNet database doesn't display names or addresses, just a resume of qualifications and a contact code number. Employers only find out who the people they select are if the potential employee expresses interest in a position they're contacted about.

SEARCHING FOR SEARCH FIRMS

Rather than compete with executive search firms, Chan says he welcomes the opportunity to work with them. Executive recruiters will be able to get a full year's access to the site for a set fee and without any additional back end charges.

That could still be a tough sell. "It doesn't sound like anything we'd pay for," says Valerie Fredrickson, President of a Menlo Park-based high tech recruiting company that bears her name. "Education is important, but it's not a requisite. We're more interested in where someone's worked, what level of management, and what they've done. At the executive search level we're already paying for a lot of research and access to (specialized) databases and we can find anybody our clients want."

Chan notes that companies currently paying high retainer fees to recruiters may find eProNet an effective, cost-saving alternative. eProNet boasts an impressive list of investors which includes: Warburg, Pincus, Ventures, John Young (the former Chairman of HP), David Duffield (founder and Chairman of the Board of PeopleSoft), Bill Draper (founder of Sutter Hill Ventures) and the alumni associations of Stanford, University of Michigan, and Ohio State University. The other schools participating in eProNet via their alumni associations are: California Institute of Technology, Columbia, Cornell, Duke, M.I.T., Purdue, UC Berkeley, UCLA, University of Chicago, University of Illinois, University of Texas, University of Wisconsin, U.S. Naval Academy and Yale. The company plans to expand its network and Chan says its currently evaluating 80 additional universities and colleges.