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September 4, 2024Member Spotlight: Magnetworks
Founded in 2023 by Eric Singer, Magnetworks is on a mission to bring community into the job search. The company began as Singer assembled a team of colleagues who believed that community was underutilized and undervalued in the job search process, and after testing the concept in their own Berkshires backyard, they built a product they’re proud to share with other community-minded businesses.
Connecting people through local job referrals, the Magnetworks platform leverages the power of word-of-mouth to help employers and candidates connect, making the job search more personal and effective for everyone involved. By blending technology and community, the company enables any employer to drive job referrals in creative ways, rallying their network to hire locally.
Singer and his team believe that every business, regardless of size, should have a community referral program as one of their recruiting tools. Currently, most businesses outsource their community to big job boards to find candidates. What if, instead, they used their own goods, services, and networks to create an open funnel, always hiring the right talent? We know referral programs work, but they’ve never been easy to execute—until now.
Magnetworks is being built from the ground up without any big funding—or as they call it, bootstrapping. This decision is a bet on themselves, their communities, and a belief that they can truly help. Everything the Magnetworks team does starts with the question, “Is this what’s best for the community?” This focus has guided them in making tough decisions, like pricing, ensuring that Magnetworks is affordable and accessible to all local businesses.
When asked about a fun Magnetworks tidbit, Singer says Magnetworks has terrible – truly laughable – swag at events, calling out talking pens that can barely make it to the letter M (he encourages you to ask for one at the next Chamber event if you see him). But, he adds, those awkward moments often lead to the best conversations and connections.
During those conversations, the Magnetworks team is able to share their genuine care for the communities they serve. The big job boards have their place, Singer says, but there needs to be a new option for Main Street. From the tools they’ve build to the creative ways they reward successful job referrals, they’re always thinking about how to put more control back in the hands of candidates, employers, and their biggest fans. They’re moving past “likes” and “reposts” and onto actual engagement, connecting neighborhoods, friends, and new opportunities.
For Singer, being a Member of the Chamber means being where the fun people are. “Seriously,” he says, “Chamber members know how to have a good time. We’ve loved the opportunities to get to know other local entrepreneurs and small business owners. The Chamber has provided us with a supportive network that’s invaluable. It’s a group of like-minded individuals who support each other, brainstorm, share knowledge, and grow together.”
He adds that the Magnetworks team is grateful for the events and get-togethers, and that they love showing up to community events and new member gatherings, taking every opportunity to say hello, network, and distribute their (admittedly bad) swag. Everyone at the Chamber has been so enthusiastic and supportive, rallying around what they’ve built, and acting as incredible sounding boards as they navigate the challenges of growing a startup in the Capital Region.
And what’s his favorite part about working in the Capital Region? “Honestly, the food,” Singer says, noting the coffee at Stacks and the West Coast Grill Sandwich (turkey breast, Swiss cheese, coleslaw, and Russian dressing grilled on rye bread) at Koni’s Broadway Kafe in Troy, which he calls “just a perfect sandwich.” He and his co-founder are constantly looking for reasons to take meetings near the eatery.
Reaction to Magnetworks in the community has been positive, and some of Singer’s favorite reviews of the company include: “You’re building something special and disruptive. Please don’t stop.”, “This makes so much sense.”, “Thanks for making it affordable and easy to figure out.”, and “You really do have terrible swag; thank goodness you’re fun to talk to.”
You can find Magnetworks out in the community this month at Stacks Coffee and Crossgates Mall.
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