E-recruitment practices have developed over the years and using the Internet to get prospects for job openings has become the average.All the same, the actual benefit of becoming digital is more than convincing: You can get your message out to more candidates, faster.
The top 10 worldwide e-recruiting firms collectively grew 232 percent between 1999 and 2000, according to IT market research house IDC. Ranked by revenue generated from e-recruiting services, the top five worldwide e-recruitment firms stack up as follows:
The pace at which the market is growing is a strong indicator that it’s all the same in the early adoption phase, says IDC.Emerging market opportunities for e-recruiting firms include:
- Market demands havegravitated towards end-to-end services.
- Skills assessment has become a key differentiating factor.
- Contingent workforce services have continued to rise.
- The rise of those using a recruitment media buying agency has recently become more popular.
Great opportunities in the Far East
One marketplace that will represent a vast opportunity in e-recruitment is Greater China — China, Hong Kong, and Taiwan. According to IDC, e-recruiting in China will generate nearly US$500 million by 2004, up from less than US$5 million in 1999.
Online executive search firms, online job boards, Internet media and services firms, and niche recruitment sites have an opportunity to draw a great deal of business in Greater China, says IDC.One understanding is that Chinese businesses are confronting a shortage of high-level managers and skilled individuals in a diversity of industries and businesses.This shortfall, compounded with a loosening of government restrictions regarding the Internet, makes for big e-recruiting opportunities in the area.
Obstacles for e-recruiters looking to tap into this market include language barriers: Chinese and Taiwanese Internet users choose to surf the Web in their native languages.
With current uncertainty in Europe, and Brexit. It can be interesting to explore all areas within the global marketplace, at least when thinking about recruitment.
Why e-recruit? Do you need help?
The internet has enabled the transformation as to how employers connect with potential employees, explains Melanie Rembrandt, public relations manager of CareerSite, an e-recruitment infrastructure solutions provider. She notes that many companies outsource e-recruitment to make the process even easier, such as by using a recruitment media buying agency, helping to avoid many of the complexities otherwise involved.
As Rembrandt explains, an e-recruitment firm can offer a wide range of services including extensive searching, job postings to both free and fee-based sites, matching, ranking, reply functions, and organizational capabilities.
“One of the best features of working with an ASP is that you can instantly link your company and job openings to a large network of potential candidates and other online businesses,” she says. “These are connections that you would not have access to using a simple, standalone site.” In addition, these functions are usually designed for ease of use so you can focus on your primary business operations.