Recruiting talent with online job boards has been a growing field, and one that has been blamed for the travails of print media’s classified revenue stream. In 2007, online boards could grow even more.
The savvy job hunter has been moving steadily to the Internet, and searching a variety of resources; from the listings by human resources types on corporate websites, to well-financed listings sites like CareerBuilder, Monster, and HotJobs, to job listing aggregators operated by SimplyHired and Indeed, all the way through general classifieds efforts like Craigslist, Oodle, Microsoft Live Expo, and Google Base.
Much of the early efforts at finding talent with the Internet has focused on professionals, especially for workers in the myriad fields associated with the technology industry. A fundamental shift in focus could bring even greater success to job boards, at the expense of their print media brethren.
Borrell Associates distributed their 2007 Outlook on Online Advertising Revenue, and among its findings is an indication that job boards stand ready to benefit from a shift in focus. From the report:
Job boards are quickly moving downstream – away from their executive-level and managerial roots and toward what could be a more massive pot of gold: helping local small- and medium-sized businesses use the Internet to locate hourly and part-time clerks, cashiers, forklift operators, restaurant workers, drywall installers, and administrative assistants.
“Online recruitment now accounts for 25 percent of Internet advertising revenue,” the report said. “By the end of 2006, recruiters were spending more for online media than for any other medium, including newspapers: $5.9 billion for online, compared with $5.4 billion for newspaper ads.”
A low unemployment rate coupled with job growth will make online recruitment even more competitive. Over the next five years, Borrell Associates forecasts an annual growth rate of 10.3 percent over the next five years, hitting close to $10 billion in 2011.
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David Utter is a staff writer for murdok covering technology and business.
