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2000 AD: Recruiting and Job Searching in the New Era

2000 AD: Recruiting and Job Searching in the New Era. Indiana University Business Career Planning & Placement Tuesday, October 17, 2000. Brendan Connerty Director, College Development. New Era Technology Drivers. Record Low Unemployment Levels Chronic Shortages of Skilled Labor

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2000 AD: Recruiting and Job Searching in the New Era

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  1. 2000 AD:Recruiting and Job Searching in the New Era Indiana University Business Career Planning & Placement Tuesday, October 17, 2000 Brendan Connerty Director, College Development

  2. New Era Technology Drivers • Record Low Unemployment Levels • Chronic Shortages of Skilled Labor • Declining Employee Tenure • Burgeoning International Competition • Static Labor Force Growth Vs. Demand • Turnover and Retention • Speed and Cost-efficiency

  3. Ira Gordon: Chronic Shortages of Skilled Labor Source: US Bureau of Labor Statistics

  4. Systems Analysts +94% Retail Sales +14% Cashiers +17% Managers/ Executives +16% Truck Drivers +17% Clerks +15% Registered Nurses +22% Computer Support Specialists +102% Home Health Aids +58% Teacher Assistants +51% Chronic Shortages of Skilled Labor10 Largest Growth Occupations, 1998-2008 Source: Bureau of Labor Statistics

  5. Declining Employee Tenure Years Of Service Depression Survivors Pension Seekers 1980’s Victims “Free Agent Nation” Source: U.S. Department of Labor (BLS) Employee Tenure Surveys, 1995 - 1998

  6. Burgeoning International Competition In 1999, the annual cap of 115,000 H1B visas was reached in June. This year, the cap of 107,500 visas was reached in April. Source: Tech Law Journal, 8/4/99, USA Today, 5/12/00

  7. Speed Internet recruiting compresses traditional hiring cycle time from 90 to 30 days Stage in Cycle# of Days Candidate ID 30 7 Interview/Assess 30 14 Closing 30 7 Source: Goldman Sachs/Kennedy Information

  8. Cost-efficiency ResourceExempt CPH Internet $ 213 College Recruiting 2,544 Job Fairs 1,284 Employee Referrals 500 Print Advertising 2,884 Contingency Agencies 15,596 Retained Search 34,844 Source: EMA 2000 Cost Per Hire & Staffing Metrics Survey

  9. Lesson #1:“Perpetual Labor Shortages” • Slower Population and Workforce Growth • Technology Innovation & Implementation • International Talent Competition • Baby-boomers Bail Early • More Color In the rainbow, Especially Gray • Global Chase For the Idle, Skilled “Elite” • Retrain and Retain

  10. Change Direction - Follow the Migration

  11. The Internet is Exploding... • Between 1999 and 2000 the number of U.S. internet users grew 17%. • There will be 194-million Internet in the US by 2005. Source: Jupiter Communications, 12/99 • 113-million U.S. adults, or 57% of the population, ages 18 and older, now have access to the internet. • 86-million adults accessed the web in the last month. Source: Mediamark Research, Spring 2000 • 95% of Class of ‘99 college grads searched the internet for jobs, and 70% actually emailed resumes to employers. Source:Southwestern Bell Internet Services, 5/99

  12. Employers Are Migrating To The Web • In 1999, employers spent about $602-million recruiting online. By 2005 online recruitment spending will reach $7.1-billion -- 11x greater. • Between 2000 & 2003 the number of recruiters advertising online will increase 332%. Source: Forrester Research, 10/98 & 2/00

  13. Executives Are Migrating To The Web • In a recent year-long survey Executives earning over $70K who preferred online job searching increased from 11% to 54% • Executives making over $150K, jumped from 12% to 57% in one year Source:Netshare

  14. Online Strategies AreGenerating Resumes Other Online Recruiting 1% Company web site 15% Job posting sites 38% Internet resume searches 21% Resume databases 25% Assoc. of Internet Recruiting, 7/00

  15. Lesson #2:“Follow the Migration” • Mine Resume Databases • Lurk In Communities • Let Spiders Retrieve Your Prey • Search Engines & Domains • Finesse the Idlers • Save Time and Money

  16. Upheaval in Media

  17. Sunday Newspaper Circulation Declines September 1999 Source: ABC Schaumburg, IL and NAA Market & Business Analysis Dept.

  18. - 31% + 52% Employers Reallocating Ad Budgets Forrester Research, February, 2000

  19. Lesson #3“Listen To the Media Experts” When audience reach dips below 50% and penetration below 30% newspapers risk becoming a niche product vs. market maker. “If the industry cannot reverse the trends in circulation and readership the time is far shorter than 10 years.” Miles Groves, The Barry Group, Presstime, January, 2000

  20. A Vibrant Employment Pipeline Debuts ...… Just in Time

  21. U.S. Newspaper Circulation vs.120-million Internet Users Today Reach in Millions 2001

  22. Occupation Gender Education 38% Craft/ Trades/ Other 36% Prof/ Mgr. 26% Tech/ Clerical/Sales Desirable User Demographics Moving Toward Mainstream Source: Source: Mediamark Research, Spring 2000 (The Industry Standard, 6/26/00)

  23. Lesson #4: “For the Best Prospects, Tap the Most Vibrant Pipeline” • 120-million Pairs of Eyeballs & Growing • Skills-rich Demographics/Databases • Excavate For Active & Passive Prospects • Pinpoint the Best With Precise Tools • Greater Reach/Exposure For Open Jobs • Reduce Time/Expenses

  24. The Web Provides New Tools

  25. Internet Capabilities & Benefits • Multimedia - • Unlimited Text, Sound, Color/Graphics, Motion/Animation • Local/National/Int’l Scope - • Wider Visibility /Broader Distribution • Instant real-time job posting - • Longer Shelf-life • Powerful, precise searching • Push/Pull Technology • Email - • Instant Feedback /Online Applications • Shorter Cycle Time • 24/7- Constant Availability

  26. Increased Recruiting Options, Speed and Savings • Multiple Recruiting Options • Giant Horizontal Career Management Hubs • Niche Vertically Specific Sites • SHRM, IEEE, Cruel World, Newsgroups • Corporate Web Sites • Litton PRC, Ernst & Young, Ben & Jerry’s • Advanced searching • Such as URL, Domain, Title, Subject, Virtual Community • Tremendously Fast & Cost-efficient

  27. Lesson #5“Implement Strategies That Drive Traffic” All on-and-offline recruiting efforts must drive passive and active prospects back to you.

  28. Career Management Site Check Lists

  29. Comprehensive Services Large database of jobs Resume posting Resume confidentiality Employer information & links Services for “Free Agents” Search Management Tools Job seeker search agents Cover letter storage Resume view reports Resume recipients Convenience User friendly screens Ability to narrow searches Fast response to searches Apply online feature Chats Career Resources Job search tips Expert career advice Newsletters and articles for people at every career stage Job Seeker Career Site  List:

  30. Site Solutions  List: • Resume Database Size & Acquisition • Online Job Postings • Recruiter Search Agents and other Productivity Tools • Can they “Wrap” job postings on your site? • Are Others Making Hires? • Communities, Banners, Tiles, Buttons, Sponsorships • Company Profiles • Purchase A La Carte or Packages • International Presence

  31. Marketplace Innovations? • Monster Talent Market • The new direct auction way to find Free Agents/Contractors • Job Wrapping • Automatically copy and import job postings from company web site • Chief Monster • Exclusive marketplace where pre-screened, senior-level executives (VP+) build online profiles and explore 6-figure opportunities. • Monster CampusNet • Target jobs and internships to students at 182 universities by academic concentration, region, or customized list • Access entry-level database of 900,000 resumes • Monster Momentum • Applicant Tracking Systems for small to mid-size companies • Monster Career Fairs • Virtual Career Fairs where employers can engage in a real-time exchange of information with with job seekers

  32. Coming Up Next... A demonstration that will inform and empower you to make the right choices.

  33. Monster.comhttp://www.monster.com

  34. My Monsterhttp://my.monster.com

  35. My Monster:Manage Resume

  36. My Monster:Cover Letters

  37. My Monster:Search Agent

  38. Expertshttp://content.monster.com/experts/

  39. Research Companieshttp://company.monster.com/

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