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).
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Job boards are dead and the future of recruiting is social
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. 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, InPharm.com.
3. 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
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. 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. 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
Gumtree.com - Jobs
1,456
10%
8
NHS Careers
1,298
9%
9
jobrapido
1,258
8%
10
CareerBuilder LLC
1,258
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. 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
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. 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
−
−
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.
17. Top social sites for Recruiting?
Most popular Social Networks being used for Recruiting
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. 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. 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. 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. 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. 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. 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. 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.
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. 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. 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. 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.“