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The Impact of Social Networking on the Future of Recruitment
"Job boards are almost dead and the future of recruiting is social”
December 2013
An IntroductionGreg Holt is the Founder and Managing Director of Mediology.Mediology is an agency assisting recruiters within the BioPharmaceutical and Medtech industries to plan and execute recruitment advertising strategies to increase candidate quality and ROI.Greg previously worked for Evenbase, one of the top four international digital recruitment groups, whose brands include; Jobsite, Jobrapido, Broadbean and emedcareers.Greg was Managing Director of emedcareers, a niche job board for the Biopharmaceutical and Medtech industries and prior to that ran the industry portal, InPharm.com.
Job Boards Are Dead
In recent years ‘job boards are dead’ headlines have littered the internet.
Are Job Boards Still Relevant – ERE.net
An Obituary: The Job Board | Evenbase
General Job Boards: Not Dead but dying – HR Pulse
Job Boards are Dead – recruitmentbuzz
Job Boards Are Down but Not Out - Workforce
Generalist Job Boards in Trouble
LinkedIn v’s Monster Stock BarometersSuccess story of LinkedIn shares parallel to Monster declineRevenue per job fallingLarge scale generalist facing competition from
Social NetworksSmaller niche job boardsJob Aggregators
Indeed sold for $1 billion last year
Reasons why Job Boards will fail
Search results are not relevant for their users.Do job seekers find the job they want?Do employers find the relevant candidates?
Poor candidate QualityJob boards are old Technology
Better recruiting tools?
Social recruiting will kill job boardsCandidates hate job boards
ImpersonalAnti-social (some embracing e.g. BeKnown from Monster on Facebook)
Job boards are too expensiveDo they provide quality candidates and good ROI?
UK Job Board MarketRank Job board Oct - 2013 % Total Audience
Total Unique Visitors (000) 15,108 100%1 Indeed 4,667 31%2 Stepstone 3,216 21%3 Reed Executive
Global 2,893 19%4 Monster, Inc. 2,052 14%5 CV-LIBRARY.CO.UK 1,885 12%6 Jobsite 1,727 11%7 Gumtree.com - Jobs 1,456 10%8 NHS Careers 1,298 9%9 jobrapido 1,258 8%10 CareerBuilder LLC 1,258 8%
Niche Job Boards
If they are dying then why are there so many?
Benefits of Niche Sites
"Recruiting is not about numbers, it's about qualities, and matching the right person to the job."
Smaller but more relevant audienceBetter quality applicantsFewer irrelevant applications
Tend to cost lessLess wastage of advertising budget
Build brand amongst target audience or ‘community’Dice has acquired onTargetjobs for $50 million in cash
Dice often used as a barometer of the Niche Job Board Market Biospace, the leading online community for industry news and careers for life science professionals, part of the acquisition.
Indeed a success storyNo. 1 job search site in the worldLaunched in 2004 and profitable since 2007. Over 100 million unique visitors per monthMoved past Monster to become the largest job board in the US in 2010.No. 1 job site in the UK.Delivers more hires than CareersBuilder, Monster & LinkedIn combinedOver half of US job search traffic is on Indeed16 Million jobs#1 mobile app for jobs on Android, iPhone & iPadCandidates search for jobs in 50 countries and 26 languagesLast year acquired by Japan’s Recruit Co. for over $1 billion
How many jobs you have on Indeed
Which jobs get the most clicks and how job
seekers found them
How many clicks your jobs get compared with
other companies
Jobs
Clicks
Performance
The Indeed Report
Pay for performance
No contracts
No minimum budget
Change hiring strategy at any time
Traffic goes to your site
Track performance and results
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ProfessionalNetwork
JobBoard
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Indeed Provides a New Way to Hire
Social Media Landscape
How Social Media affected Recruitment in 2013
2013 Kelly Global Workforce Index (KGW)n=120,000 from 31 Countries across Americas, EMEA & APAC regions.In past 12 months 44% had been contacted about a job opportunity via social media16% said they has secured a job through social media (as high as 25% in APAC region)Less than half of the European population favour social networks as a job search methodSocial Media has permanently affected recruitment techniques.Recruiters within the EMEA region will need to be more all-rounders.
Social v’s traditional menthods
2013 Kelly Global Workforce Index (KGW)
Top social sites for Recruiting?
Most popular Social Networks being used for Recruiting
How Recruiters Use SocialSearch for candidatesContact CandidatesKeep tabs on potential candidatesVet candidates pre-interviewPost Jobs
Showcase Employer brandGenerate employer referralsPost JobsVet candidates post-interviewVet candidates pre-interview
Showcase Employer brandPost jobsGenerate employer referralsContact CandidatesVet candidates post-interview
96%94%93%92%91%
65%51%48%35%31%
47%43%31%19%18%
Source: Jobvite Social Survey 2013
LinkedIn259 million users in over 200 countries = Largest professional database in the world
10+ million in the UK
LinkedIn is in the top 20 most visited websites in the worldNearly 5.7 billion professionally oriented searches last year3 million business pages2.1 Million LinkedIn Groups94% of recruiters vet candidatesJob Board
77% of all (US) vacancies are posted on LinkedIn48% of recruiters post jobs on LinkedIn and no other Social Media site
80% of users are not currently seeking work passive candidates to connect with via active sourcing
Advantages of LinkedIn
Search for candidatesContact CandidatesKeep tabs on potential candidatesVet candidates pre-interview & post-interviewPost JobsBuild & promote your company brandBuild professional networks to maintain contact and request referrals/recommendations
The Search Tool for Recruiters
Largest professional database in the worldEffective search toolBenefits of LinkedIn ‘recruiter’
Premium searchFull network visibilityDirect message anyone
LinkedIn Job Board?
LinkedIn hasn’t fully embraced the Job BoardHowever 77% of all ‘US’ vacancies posted on LinkedIn.Many jobs appear as updates and within groups
Facebook has 1.19 billion monthly usersover 725 million daily users874 million mobile users
Every 20 minutes, there are almost 2 million status updates.Facebook Mobile is the most downloaded app on all smartphones.
74% access the service via a mobile device
Facebook earned $2.6 billion from ads in the United States in 2012.Almost ½ of the advertising revenue stems from mobile
3 Ways to promote your jobs via facebook
Dedicated brand Careers page, fans subscribe to hear about job vacancies, employee stories and ask recruiters questions.General brand page with a dedicated Careers tab
• which showcases all open jobs• people can apply directly from
Posting updates about jobs as they come about, amongst all of the other posts you put out on Facebook.
Facts1 Billion registered users
9.9 Million user in the UK
100 Million daily active users400 Million Tweets sent per dayTweets of no more than 140 characters—offers one more way to find and attract candidates500K social job announcements released on Twitter every monthTwitter is estimated to reach a massive 2 million job postings per month by the end of 2014
Lost in the chatter0.05% of total twitter population (20,000 elite users) attract almost 50% of attention71% of tweets produce no reaction85% of tweets that do get a response only get a single reply.
Recruitment Channel Choice
Candidate SourceCandidate QualityCost per HireReturn on Investment delivered by each channel
Source of External Hires
Job boards18.1% (1 in 6 externals hires)Trending downEvolving?
Social media2.9%Not independent of other sources?Respondents believe SM drives or combines with 7 out of the 11 other sources
N.B. Data validity?
Top External Source of Hire
36%
24%
21%
10%
4%3% 2%
Top External Sources of Hire
IndeedTraditional Job BoardsRecruitment AgencyCareers FairLinkedInSimpleyHiredUniversity
71% came from referralsinternal hires company career sitesundefined sources
29% came from external sourcesStatistics based on
46,800 new hires1200 employees
Data from ATS
Will Job Boards Die?
Job boards that adapt, both in terms of technology and in terms of business model should not only survive but thrive.Only the ones that don’t adapt will fail
Generalist boards are under most pressureLikely to be consolidation in the Niche market
Indeed will increase its exposure in the UK and global marketSocial Media will increase its influence further
Future
Companies will embrace big data.Job aggregation and people aggregation will become more important.CV parsing, semantic search and matching technology will move into the mainstream, matching demand and supply in the job market.
Recruiting is not about numbers, it's about qualities, and matching the
right person to the job.“
Greg Holt
Managing DirectorEmail: [email protected]: www.linkedin.com/in/gholt
Twitter: twitter.com/gregholt
