Virtual Job Seekers: Dynamic changes in employee recruitment betoken
increased online spending on job ads and related services, with video job ads
rapidly gaining ground on more traditional media. Those are two overarching
conclusions reached by Research and Markets, a market-data firm in Dublin,
Ireland, in a newly released report.
Between 2008 and 2012, companies are expected to increase total recruitment
spending by 25 percent, from $58 billion to $73 billion. Internet-based job
sites and full-service employment agencies are pegged to be the chief
beneficiaries of the implacable move toward virtual recruitment. Online spending
in particular is geared for monstrous growth, gaining 23.5 percent and reaching
a record high of $11 billion during the four-year period. Even though they have
Internet access, nearly half of all candidates have yet to begin searching for
jobs online, according to Research and Markets. By contrast, the report
forecasts a gloomy picture for large-circulation newspapers, which are expected
to see job-ad revenues decline a precipitous 12 percent.
The report says that the “hottest new tool in the arsenal for both employers
and recruiters” is online video, which will account for about $10 billion in
corporate spending by 2012, far exceeding the $522 million spent in
2007.
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