Businesses may be struggling with the current economic downturn,
but if the surge in the online recruiting industry is any
indication, they haven't stopped hiring. Expected by IDC to
swell from $474 million in 1999 to $4.6 billion by 2004, the online
recruiting industry is thriving, with a handful of sites stealing
the spotlight.
"There has been an increase in activity because there are
more job-seekers entering the market," says Christopher Boone,
e-recruiting analyst for IDC. "The economic slowdown has
increased the scrutiny on the hires that companies still have to
make."
Before you use e-recruiting, examine your needs. If you're
looking to hire an administrative assistant, for example, sites
that attract candidates nationwide may not be your best bet. After
all, the chance that someone is willing to relocate for such a
position is slim.
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"I would advise small businesses to think about the type of
candidate they're looking for before they post on these
[nationwide] sites," Boone says. "It could be better to
look for niche sites that cater to specific geographies or
industries."
According to analysts, Monster.com is leading the pack with its revenue of
$349.2 million in 2000. This goliath is first on research company
Jupiter Media Metrix's list of the top 15 career sites in terms
of traffic, with approximately 5 million unique visitors in
February alone.
Rounding out IDC's own list of the leading recruiting sites,
based on revenue, are Futurestep, Headhunter.net and HotJobs.com. CareerBuilder
and JobsOnline have also made significant headway, ranking
in the top five career sites, according to Jupiter Media Metrix
figures for February.
Online recruiting firms may offer comparable services, but
quality of service can differ. For instance, sites that guarantee
your jobs will be posted within 24 hours don't always fulfill
their promise. The best way to get a feel for an online service?
Use the site as if you were the job hunter, and judge its
navigability and usefulness.
Before you sign up for any top-dollar contracts, run a few ads
on a couple of different sites (though some sites are untestable
because they require contracts immediately). Compare firsthand not
only the speed with which you begin receiving resumes, but also the
number and quality of leads.
Futurestep, which focuses on filling middle- to senior-level
executive positions, is an online recruiting service launched by
Korn/Ferry International and The Wall Street Journal. While
its services are generally more expensive than those of typical job
boards, the level of service exceeds that of the others. Within 30
days of completing a detailed online form describing the job
opening, Futurestep sends you a CD-ROM profiling the best
candidates, who the company has screened for skills as well as
personalities that match your company's environment. The CD-ROM
also includes video clips of preliminary interviews between
Futurestep recruiters-who have conducted background and reference
checks-and job hopefuls.
Even the job board giants have made efforts to add services,
such as hosting companies' own "work for us" Web
pages, or developing specific niches. Headhunter.net, for example,
is targeting the health-care industry by setting up alliances with
online health-care content providers.
As services become more robust, however, so could prices. Sites
have begun charging a little more based on their brand-name
recognition. Most services charge a set amount, typically $100 to
$500, according to the number of postings and how long they will be
up, usually 30 to 60 days.
So whether you're tired of spending hours sifting through
resumes to pinpoint qualified people, or you're looking to
broaden your reach for potential candidates, Web recruiting could
give you the most bang for your buck.
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Source It
online recruiters eager to do your
talent search |
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| | Note: Most services also offer value packages
for multiple job postings and/or long-term clients. | |
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Mie-Yun Lee is the editorial director of BuyerZone.com.
Doreen V. Bentley contributed to this article.
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