OneShift buys fellow jobs start-up Adage to target mature workforce
Online recruitment start-up OneShift has purchased mature-age job site Adage in an all-cash deal to tap into Australia’s growing mature age workforce.
OneShift, which secured a $5 million capital injection from recruitment company Programmed in 2013, identified mature-age job seekers as a growth area as Australia’s population ages.
“We’ve been receiving feedback from businesses which use OneShift seeking more mature-age workers because of the experience and mentorship they bring to a team,” said OneShift founder and chief executive Gen George.
“Coupled with the desire for mature-age workers looking to ease back into the job market, we’re now in a strong position to provide opportunities for this rapidly growing, yet often neglected market.”
Australians aged 55 and over now make up 34 per cent of the workforce, an increase from 25 per cent 30 years ago, with most of the growth in the past 10 years.
Adage owner and chief executive Heidi Holmes is moving on to other ventures.
“It was time for Adage to grow up and I believe it can do that under the OneShift banner,” Ms Holmes said.
The purchase price was undisclosed, but it was a 100 per cent acquisition. Ms Holmes bought the business four years ago and said the sale to OneShift gave her a 300 per cent return on investment.
The acquisition of Adage adds 30,000 job seekers and up to 2000 employers to OneShift’s 500,000 job seekers and nearly 36,000 employers. OneShift is on track to post 110,000 jobs for the 2014-15 financial year…
Read more by Su-Lin Tan, BRW 3 February 2015