The online recruitment industry has been forecast to increase at a compound annual growth rate (CAGR) of 14.52% through 2016, driven by the increase in the number of social recruiting platforms, and the emergence of mobile recruitment (m-recruitment).
Since the first emails began to do the rounds in the mid 1990's job adverts gradually began their transition from the newspaper and into the World Wide Web. Over the last decade the recruitment industry has leapt from 100% printed media advertisements, to a mere 20% today.
Not only are today's job ads radically more complex but the digital revolution has turned traditional recruitment strategies on their head.
With the recent changes in economy the recruiting industry has seen a shift in demographics which has led to a lack of skilled workers on the market. There are no longer enough employees to fill the gaps left by their retiring, baby boomer predecessors. This has developed into what is widely known as the war for talent, a modern day battle for skilled, educated or otherwise desirable candidates.
Nowadays, mobile devices such as smartphones and tablets are being increasingly used by candidates to access job-related information on the go. Recruiters are also using such devices to post new job openings.
With an increase in the adoption of mobile devices, a number of vendors are launching mobile applications that can provide employment opportunities for candidates at their convenience.
For instance, CareerBuilder.com provides a service known as Mobile Ambassador, a mobile intranet with social networking features such as chat and video. Monster.com has launched Monster Jobs, a mobile application that is accessible on Android phones and iPhones.
One of the main challenges is inadequate security for personal information. While uploading details for a job application, applicants are often concerned about the confidentiality of their personal and professional data. Job seekers upload their personal and professional details along with their contact information on recruitment portals.
Key players currently dominating the online recruitment industry include CareerBuilder.com, Indeed.com, LinkedIn Corp, and Monster.com.
For more information on the online recruitment industry, see the latest research: Online Recruitment Industry
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.