How can Virtual Internships increase the number of jobs posted on the platform?

Version 1.0 | Last Updated on November 18, 2023 Made by Roshan Raj Mishra | Gmail | LinkedIn Website: https://virtualinternships.com

1. Problem Statement

Companies are signing up but only 1 out of 5 companies are actively creating an Internship and posting their Internship Requirement to start hiring. On speaking to some of the companies, our team found that the process of creating Internship requirements (JDs) is time consuming and leading to friction. There is a decision to build a tool on the Internal Users platform where HC AEs can create Internships (JDs) on behalf of companies.

2. About Virtual Internships

Virtual Internships is a revolutionary platform bridging the gap between companies worldwide and aspiring interns. By offering a remote working environment, it not only provides a flexible working model for individuals but also helps companies tap into a diverse talent pool. The platform fosters an ecosystem where innovation thrives and professional growth is encouraged.

3. Research

3.1 User Research

Extensive user research has been conducted to understand the preferences and pain points of Recruiters of Hiring Companies posting jobs. The research includes user feedback from customer interviews.

Virtual Internships has multiple stakeholders who form the overall set of users of the app, they can be broadly categorized into: Internship Seekers, Recruiters, IEMs and HC-AE’s.

3.1.1 User Pain Points

Recruiters:

1. Startups:
2. Often multitasking with limited resources.
3. Keen on hiring talented interns for various roles.
4. Have ready-made JDs, but find signing up and posting on multiple platforms time-consuming and tedious.
5. Experience fatigue from repetitive manual posting of JDs across platforms.
6. SMEs (Small and Medium Enterprises):
7. Seek cost-effective solutions for task completion through internships.
8. Deterred by the tedious task of manually posting JDs on multiple platforms.
9. Desire a simplified, streamlined process for posting JDs to save time for other critical tasks.
10. Large Corporates:
11. Typically have an internal Applicant Tracking System (ATS) for posting job openings.
12. Used to platforms that integrate with their ATS to automatically pull job listings.
13. Find the lack of ATS integration with Virtual Internships a challenge.
14. Seek either ATS integration or a streamlined process for posting JDs on Virtual Internships to tap into global talent efficiently without manual re-posting.

Hiring Companies - Account Executives (HC-AEs):

1. Possess varying levels of understanding and expertise in different job roles across various industries.
2. Capable of crafting and managing well-defined JDs but are hindered by the current platform’s limitations, which affect their efficiency especially when dealing with multiple postings.
3. Encounter challenges in editing incorrectly posted JDs and moderating spammy or irrelevant job posts due to lack of efficient tools.
4. Require a streamlined, automated tool to create, edit, and manage JDs at scale, reducing the manual workload.
5. Would benefit from a tool that allows for quick JD generation from a set of keywords, utilizing generative AI to adhere to VI platform specifications.

3.2 User Journeys

3.2.1 Host Company User Journey

Link: https://whimsical.com/host-company-onboarding-3U7T7tA1U17KGu8HLDmmpJ@2Ux7TurymMNE1PoDtpz8

Note: Please use the +/- buttons at the bottom right side side of the whimsical window (above) to zoom in on the user journey.

3.2.2 Host Company Storyboarding Analysis

Link: https://www.figma.com/file/QBFl05SyeFmlL7CgJzbUm8/User-Journey-Analysis---HC-Onboarding-%26-Job-Posting?type=design&node-id=0%3A64&mode=design&t=qgSFRBgNdfKFp5C3-1

3.3 Competitive Research

This is an in-depth analysis of VirtualInternships’ competitors, such as Forage, Chegg Internships and Internshala, has been conducted to identify innovative features and strategies that enhance hiring companies experience on the platform.

(Table from Notion — see original for full data.)

3. Defining the Problem Statement

3.1 What is the goal?

The primary goal is to increase the number of active internship postings by 50% on the Virtual Internships platform.

3.2 Why must Virtual Internships act now?

1. Competitive Advantage: Streamlining the JD creation process can provide a significant competitive advantage by reducing the time to post internships, thereby attracting more companies to the platform.
2. User Retention: Ensuring a seamless user experience is crucial for retaining companies on the platform. A tool that eases the process of posting internships will likely increase user satisfaction and retention rates.
3. Platform Growth: A higher number of active postings will naturally attract more interns, leading to increased platform usage and growth.

3.3 What does Virtual Internships need to focus on as a Company to achieve the goal?

(Table from Notion — see original for full data.)

3.4 Impact

3.4.1 User Impact

1. Reduction in onboarding drop off rates for hiring companies after registrations.
2. Increase in number of onboarding completions by hiring companies.
3. Increase in number of jobs posted on the platform.

3.4.2 Business Impact

1. Increase in Revenue - by increasing the number of internship requirements posted on the platform, you would increase the number of registered interns on the platform.
2. Optimized Operations - fewer cancellation would allow VI to focus on its quality of service, guarantying internships to students, and providing quality interns to companies.
3. Company Retention and Satisfaction - hiring companies who experience with the internship process would likely continue working with Virtual Internships for their future requirements.

4. Proposed Solutions

These are the list of feature that can be implemented to achieve the business goals and solve problem statements:

1. Admin Portal for HC-AE’s to post internship requirements.
2. Shorter onboarding process for companies.
3. Internship requirement creation tools for companies.

4.1 Admin Portal - for HC - Account Executives

(Table from Notion — see original for full data.)

4.1.1 User Journey of HC-AE’s when posting an IR.

Link: https://whimsical.com/hc-aes-user-journey-3cHrsUrKy5czDD6sdwbfcy@2Ux7TurymM9Xgg2LmLKZ

4.1.2 Functional Requirements for the HC-AE Portal

(Table from Notion — see original for full data.)

4.1.3 Non-Functional Requirements

(Table from Notion — see original for full data.)

4.1.4 User Interface(s) or Wireframes

Link: https://app.uizard.io/p/40cf8401

4.1.5 Future Scope

1. Role/Feature based access control methods for HC-AEs as well as IEMs.
2. More exportable metrics information, and dashboards for IEMs and HC-AEs.

4.2 Shorter Onboarding & JD creation tools for Companies

(Table from Notion — see original for full data.)

4.2.1 Requirements for the shorter onboarding & JD creation tool

A. Functional Requirements

1. Develop a tool within the Hiring Companies to create Internships (JDs) easily and faster.

• Feature to draft, edit, and save JDs.
• Feature to import JDs from other platforms or documents.
• Feature to preview the JD before final submission.
• Feature to auto-suggest or autofill certain fields based on previously filled information or commonly used phrases.

1. Develop/Utilize an intelligent parser to automatically create a JD from uploaded files by companies using generative AI tools.

• Ability to parse different file formats like .doc, .pdf, .txt.
• Extract key information and populate the JD creation form automatically.
• Provide suggestions to complete missing information based on previously uploaded JDs or common industry standards.
• Ability to edit and review the auto-generated JD before final submission.

B. Non-Functional Requirements

1. User-friendly interface ensuring ease of use for companies.
2. Ensure data privacy and security during the JD creation, editing, and submission process.
3. Scalable to handle the increasing number of companies and JD creation.
4. Real-time collaboration enabling multiple HC AEs to work on a single JD.

5. Metrics

5.1 North Star Metrics

The key North Star metrics to track the success of our solutions:

1. Increase in the number of companies actively creating and posting internship JDs by 50% within the next quarter.
2. Reduction in the time taken to create and post a JD by 40%.
3. User satisfaction rate of 85% with parser and JD creation tools.

5.2 Feature-based Metrics to Track

(Table from Notion — see original for full data.)

6. Summary

This PRD outlines the critical need to address the bottleneck faced by companies in creating and posting JDs on the Virtual Internships platform.

By proposing the development of a internal tool for HC-AEs, a simpler onboarding and a JD Creation Tool, it aims to significantly enhance user experience, increase active postings, and foster platform growth.

Through meticulous research, clear problem definition, and strategic solution proposal, this document serves as a roadmap to tackle the identified challenges and achieve the set goals.