2008 Prediction - A Year of Change and Disruption in the Online Recruiting Marketplace
2008 is the year where we have finally reached the tipping point. The point where the promises of these past Net recruiting solutions are shown to be out of favor with new methods emerging as forces in the marketplace. To those of us in the online recruiting strategy role this change has been underway for a few years now, but has yet to surface in the mainstream press in a big way. Plus we must face reality: the online recruiting marketplace is a multi-billion dollar business that feeds not just the employees of each online entity, but also the self-proclaimed gurus and media who are fed via speaking fees, advertising, etc. It is in the interests of several key groups to keep the multi-billion dollar recruiting industry beast fat and full of corporate cash.
Here are some of the factors which I believe will finally force the change:
Here are some of the factors which I believe will finally force the change:
- The results are so bad on many web 1.0 technologies (due to interstitial ads, bad candidate treatment on part of job boards and corporations) that no amount of spin can compensate. Corporate America is dropping the big board mega contracts.
- Tracking is here, and unlike the 90's, employers can more accurately calculate ROI
- There are other more cost effective choices - Indeed, SimplyHired, JobCentral Network to name a few and the traffic to the aggregators is rising 100% a year.
- The promises to Wall Street of mega profits by several players forces them to once again raise prices on a declining industry - even HR folks eventually "get it" that they are being had.
- The recruiting 1.0 folks have lost their cache with the Sr. Leadership of Corporate America - today the buzz is about Facebook, MySpace, LinkedIn - not some job board created in the prehistoric 90's.
- The Employers are talking - not to their Recruitment Ad Agencies - But To Each Other!
I and many of my industry colleagues look forward to having a very public discussion this year of just how poor several of the the top branded sites work....
Hi Ray
Firstly - Great Blog - looking forward to engaging as 2008 plays out.
You're definately on the money wrt the major job boards and their incredible arrogance in light of the traffic trends. From my viewpoint - one of the reasons for this is employers inability to measure their various media spend/placement. Any thoughts on the best solutions for tracking & analysing this data?
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I dont think so that this perdiction is going to be true in future, recruiting market is going wel still now.
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yes, i like the way you express the matter. but the perdiction was not got true.
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All celebrity PAs, with only a very few exceptions, have started as humble PAs and have demonstrated drive, ambition and dedication. Then they have risen through the ranks, going from being a PA to someone in the lower ranks, to being a PA to senior management.
However, many PAs have also started their working career in the music industry, whether working for record companies or in TV radio. They may start off in very lowly positions and then when a vacancy for a PA comes up, managing to secure the position. From there it is easy to get noticed, spotted or recommended and next thing you know, Madonna’s team are on the telephone, asking you to be a PA.
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its good perdiction but was not upto mark.
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What is your prediction for this year?
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recovery will happen, and net profits should increase, but it will be slow going. Im wondering where the next bubble will come from...
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Wouldn't it me more effective if corporate recruiting sites would cooperate with universities? We should be aware that fresh graduates have serious problem into adapting to the real labor market and I think such a cooperation would only lead to positive things for both sides.
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Your suggestion is excellent. With such collaboration fresh graduates will have so much know information and knowledge before entering into real world.
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Well, now we are in the middle of the year and definitely you was right with your predictions, would you like to tell us something about next year?.
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From my viewpoint - one of the reasons for this is employers inability to measure their various media spend/placement. Any thoughts on the best solutions for tracking & analysing this data?
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The point where the promises of these past Net recruiting solutions are shown to be out of favor with new methods emerging as forces in the marketplace. To those of us in the online recruiting strategy role this change has been underway for a few years now, but has yet to surface in the mainstream press in a big way.
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PAs on the the radio may come late.
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Consolidation in the maturing on-line recruitment industry is inevitable. I agree, the weaker service providers will be found wanting & will be forced to exit.
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I imagine this article was written before the recession so this problem must be even worse right? It's battle of the fittest out there, only the strongest will survive!
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I would really ask if you have something to predict about next year.
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It is evident that the new mediums of recruitment like Facebook and LinkIn is especially effective among a younger demographics.
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I think the fact they cant track ROI far more now is key to the success of corporate recruitment.
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Plus we must face reality: the online recruiting marketplace is a multi-billion dollar business that feeds not just the employees of each online entity, but also the self-proclaimed gurus and media who are fed via speaking fees, advertising, etc. It is in the interests of several key groups to keep the multi-billion dollar recruiting industry beast fat and full of corporate cash.
.thanks for sharing your views..
Regards,
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The point where the promises of these past Net recruiting solutions are shown to be out of favor with new methods emerging as forces in the marketplace. To those of us in the online recruiting strategy role this change has been underway for a few years now, but has yet to surface in the mainstream press in a big way.
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To those of us in the online recruiting strategy role this change has been underway for a few years now. Any way I have to accept the facts.
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That is a major change about not to their Recruitment Ad Agencies but to each other.
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I think all the factors you listened were prefect. I believe you will be right on them all!
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However, many PAs have also started their working career in the music industry, whether working for record companies or in TV radio. They may start off in very lowly positions and then when a vacancy for a PA comes up, managing to secure the position.
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However, many PAs have also started their working career in the music industry, whether working for record companies or in TV radio. They may start off in very lowly positions and then when a vacancy for a PA comes up, managing to secure the position. From there it is easy to get noticed, spotted or recommended and next thing you know, Madonna’s team are on the telephone, asking you to be a PA.
----------------
tribhuvan
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