I like this, it's nice and simple. The orange 'o' really pops, I think it works. I don't think a magnifying glass is quite right, but this is definitely a promising direction.
We would be curious to see other versions with a graphical treatment of a letter. What we liked about ebonk's graphics is that they conveyed the idea of the site -- lots of hospitals, one profile you can use to apply to jobs at all of them.