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Job boards are dead and the future of recruiting is social


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Job boards are almost dead and the future of recruiting is social. Presentation given to Ethical Medicines Industry Group ( EMIG ) Human Resources Special Interest Group regarding the impact of Social Networking on the Future of Recruitment.
EMIG is the UK research-based trade association that represents the interests of small to medium-sized Pharmaceutical, Biotech and Medtech companies (SMEs).

Published in: Social Media, Technology, Business
  • Traditional job boards are filled with job postings in text. Best that you can do for finding a nearby job is to enter your zip code and then (still) go through the list of job postings in text one by one, which is is difficult, tiresome, time consuming, and unnatural. That was Job Searching 1.0. Enters Job Searching 2.0+. What about you go on an online job map, got placed immediately on the map at your current location, and see the many nearby jobs displayed as clickable markers at their exact job locations, with clear title attached. As such that you are able to see which are the interesting jobs (in terms of job title and job location) to click on... Intuitive and easy. Is there such thing? A realistic and unique Job Searching 2.0+ site that can give you some idea is here at: (Disclosure: we are the service provider) On this Job Searching 2.0+ site are million and more (1,000,000+) daily aggregated jobs on exact map locations across USA and Canada - You should start to see interesting jobs nearby within a minute getting on the map. What is your thinking, pros and cons, about moving up from Job Searching 1.0 (by job text list browsing) to Job Searching 2.0+ (with job map navigation)?
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Job boards are dead and the future of recruiting is social

  1. 1. The Impact of Social Networking on the Future of Recruitment "Job boards are almost dead and the future of recruiting is social” December 2013
  2. 2. An Introduction Greg 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,
  3. 3. Job Boards Are Dead In recent years ‘job boards are dead’ headlines have littered the internet. Are Job Boards Still Relevant – 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
  4. 4. Generalist Job Boards in Trouble LinkedIn v’s Monster Stock Barometers Success story of LinkedIn shares parallel to Monster decline Revenue per job falling Large scale generalist facing competition from Social Networks Smaller niche job boards Job Aggregators Indeed sold for $1 billion last year
  5. 5. 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 Quality Job boards are old Technology Better recruiting tools? Social recruiting will kill job boards Candidates hate job boards Impersonal Anti-social (some embracing e.g. BeKnown from Monster on Facebook) Job boards are too expensive Do they provide quality candidates and good ROI?
  6. 6. UK Job Board Market Rank Job board Total Unique Visitors (000) Oct - 2013 % Total Audience 15,108 100% 1 Indeed 4,667 31% 2 3,216 21% 3 Stepstone 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 - Jobs 1,456 10% 8 NHS Careers 1,298 9% 9 jobrapido 1,258 8% 10 CareerBuilder LLC 1,258 8%
  7. 7. Niche Job Boards If they are dying then why are there so many?
  8. 8. 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 audience Better quality applicants Fewer irrelevant applications Tend to cost less Less 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.
  9. 9. Indeed a success story No. 1 job search site in the world Launched in 2004 and profitable since 2007. Over 100 million unique visitors per month Moved 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 combined Over half of US job search traffic is on Indeed 16 Million jobs #1 mobile app for jobs on Android, iPhone & iPad Candidates search for jobs in 50 countries and 26 languages Last year acquired by Japan’s Recruit Co. for over $1 billion
  10. 10. The Indeed Experience
  11. 11. The Indeed Experience
  12. 12. The Indeed Report 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
  13. 13. Indeed Provides a New Way to Hire Professional Network Job Board Pay for performance − − No contracts − − No minimum budget − − Change hiring strategy at any time − − Traffic goes to your site − − Track performance and results − −
  14. 14. Social Media Landscape
  15. 15. 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 media 16% 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 method Social Media has permanently affected recruitment techniques. Recruiters within the EMEA region will need to be more all-rounders.
  16. 16. Social v’s traditional menthods 2013 Kelly Global Workforce Index (KGW)
  17. 17. Top social sites for Recruiting? Most popular Social Networks being used for Recruiting
  18. 18. How Recruiters Use Social Search for candidates Contact Candidates Keep tabs on potential candidates Vet candidates pre-interview Post Jobs 96% 94% 93% 92% 91% Showcase Employer brand Generate employer referrals Post Jobs Vet candidates post-interview Vet candidates pre-interview 65% 51% 48% 35% 31% Showcase Employer brand Post jobs Generate employer referrals Contact Candidates Vet candidates post-interview 47% 43% 31% 19% 18% Source: Jobvite Social Survey 2013
  19. 19. LinkedIn 259 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 world Nearly 5.7 billion professionally oriented searches last year 3 million business pages 2.1 Million LinkedIn Groups 94% of recruiters vet candidates Job Board 77% of all (US) vacancies are posted on LinkedIn 48% 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
  20. 20. Advantages of LinkedIn Search for candidates Contact Candidates Keep tabs on potential candidates Vet candidates pre-interview & post-interview Post Jobs Build & promote your company brand Build professional networks to maintain contact and request referrals/recommendations
  21. 21. The Search Tool for Recruiters Largest professional database in the world Effective search tool Benefits of LinkedIn ‘recruiter’ Premium search Full network visibility Direct message anyone
  22. 22. LinkedIn Job Board? LinkedIn hasn’t fully embraced the Job Board However 77% of all ‘US’ vacancies posted on LinkedIn. Many jobs appear as updates and within groups
  23. 23. Facebook Facebook has 1.19 billion monthly users over 725 million daily users 874 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
  24. 24. Facebook 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 Facebook Posting updates about jobs as they come about, amongst all of the other posts you put out on Facebook.
  25. 25. Twitter Facts Lost in the chatter 1 Billion registered users 9.9 Million user in the UK 100 Million daily active users 400 Million Tweets sent per day Tweets of no more than 140 characters—offers one more way to find and attract candidates 500K social job announcements released on Twitter every month Twitter is estimated to reach a massive 2 million job postings per month by the end of 2014 0.05% of total twitter population (20,000 elite users) attract almost 50% of attention 71% of tweets produce no reaction 85% of tweets that do get a response only get a single reply.
  26. 26. Recruitment Channel Choice Candidate Source Candidate Quality Cost per Hire Return on Investment delivered by each channel
  27. 27. Source of External Hires Job boards 18.1% (1 in 6 externals hires) Trending down Evolving? Social media 2.9% Not independent of other sources? Respondents believe SM drives or combines with 7 out of the 11 other sources N.B. Data validity?
  28. 28. Top External Source of Hire Top External Sources of Hire 4% 3% 2% Indeed Traditional Job Boards 10% 36% Recruitment Agency Careers Fair 21% LinkedIn SimpleyHired 24% University 71% came from referrals internal hires company career sites undefined sources 29% came from external sources Statistics based on 46,800 new hires 1200 employees Data from ATS
  29. 29. 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 pressure Likely to be consolidation in the Niche market Indeed will increase its exposure in the UK and global market Social Media will increase its influence further
  30. 30. 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.“
  31. 31. Greg Holt Managing Director Email: LinkedIn: Twitter: