2008 Outlook: Online Recruitment Advertising

Published by: Borrell Associates Inc.

Published: Apr. 1, 2008 - 29 Pages

Table of Contents

Executive Summary

CHAPTER 1 - RECRUITMENT SPENDING

Fig. 1.1: Recruitment spending by medium, 2008-2012

Fig. 1.2: Recruitment spending share by medium, 2008

NEWSPAPERS

Fig. 1.3: Recruitment spending share shift by medium, 2008-2012

ONLINE

VIDEO

ONLINE EFFECTIVENESS

Fig. 1.4: Total online ad spending for video increases, 2007/2012

CHAPTER 2 - ONLINE USAGE

Fig. 2.1: Use of the Internet in a job search in the next 12 months, 2007

Fig. 2.2: Top 25 DMAs using Internet for job search, 2007

Fig. 2.3: Job board and consortium listings counts

Fig. 2.4: Market example: Job board cost and listings comparison for Racine, Wisconsin

Fig. 2.5: Breakdown of external hires, 2007

Fig. 2.6: Recruitment spending relative to Source of Hire, 2007

Fig. 2.7: Breakdown of Job Boards as source of hire, 2007

CHAPTER 3 - THE JOB MARKET

Fig. 3.1: Planning Job Search by Job Description, 2007

Fig. 3.2: Job openings by generalized job description, 2007

Fig. 3.3: Top job opening categories, 2007

CONCLUSION

Appendix A - Ad Spending Estimate Methodology

Company Profile

Abstract

The employment sector will change dramatically in the next five years. January 1, 2008, marked the date the first baby boomers became eligible to collect Social Security. As they begin to exit the job stage over the next several years, recruiters will have a harder time finding professionallevel candidates to replace them. The challenge is a big one: There are more than 77 million baby boomers and only 49 million in the Gen X group to bridge the 11-year gap before Gen Y and its 74-million-strong work force can start making an impact.

Companies will be rethinking their recruiting strategies. Over the next four years, we expect total recruitment spending to increase 25 percent, from $58 billion in 2008 to $73 billion in 2012. The beneficiaries will be online media and full-service employment agencies. Online spending will increase 43.5 percent to a record high of over $11 billion. Opportunity abounds online: nearly half the job seekers who have Internet access are not using online media to look for a job. The main losers of recruitment revenue will be large-circulation newspapers, which will see their jobrelated revenues decline by 12 percent over the next four years.

The variations we see within online recruitment media indicate greater traction among smaller, targeted job boards. The general job boards such as Monster and HotJobs, while loaded with listings and users, frustrate many recruiters due to the sheer number of unqualified resumes that they generate. While the general boards are working to improve their filters, tighter, more focused niche boards will generate most of the growth in the recruitment arena. There are job boards for specialty jobs such as tax accountants, IT people and plumbers.

There are sites geared toward hourly and part-time positions and there are sites focused on demographic and lifestyle groups such as retirees and stay-at-home moms and dads or residents in a particular geographical area. The rise of social networking sites such as LinkedIn and management tools for “active job seekers” will increase the options for recruiters and jobseekers alike.

Finally, video is the hottest new tool in the arsenal for both employers and recruiters. Total ad spending for online video was $522 million in 2007 and is expected to reach $10 billion by 2012. A significant portion of the early spending on video ads is going to job and employer-related video. Hundreds of major companies have added short-form videos to job sites expounding the virtues of working at their companies.

The full 29 page report is loaded with facts, 15 charts and tables, and analysis on this fast changing business category.

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