2000 ad: recruiting and job searching in the new era

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2000 AD:Recruiting and Job

Searching in the New EraIndiana University

Business Career Planning & Placement

Tuesday, October 17, 2000Brendan ConnertyDirector, College Development

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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

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Chronic Shortages of Skilled Labor

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1998 ITVacancies

2003Projected ITVacancies

Ira Gordon:Ira Gordon:

Source: US Bureau of Labor Statistics

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Chronic Shortages of Skilled Labor10 Largest Growth Occupations, 1998-2008

• 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%

Source: Bureau of Labor Statistics

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Declining Employee Tenure

05

10152025

50's 60's 70's 80's 90's

DepressionSurvivors

PensionSeekers 1980’s

Victims“Free Agent

Nation”

Source: U.S. Department of Labor (BLS)Employee Tenure Surveys, 1995 - 1998

Years Of Service

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Burgeoning International Competition

0

50,000

100,000

150,000

200,000

1998 1999 2000 2001 2002

Cur

ren

tC

aps

Pro

pos

edC

aps

Current Caps

Proposed Caps Source: Tech Law Journal, 8/4/99, USA Today, 5/12/00

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.

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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

Speed

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Cost-efficiency

Resource Exempt 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

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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

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Change Direction - Follow the Migration

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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

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Employers Are Migrating To The Web

$0$2,000$4,000$6,000$8,000

1999 2005

Online Spending (In Millions)

0

40,000

80,000

120,000

160,000

2000 2003

# Recruiters Advertising Online

•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

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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

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Online Strategies AreGenerating Resumes

Job posting

sites 38%

Resume databases

25%

Internet resume

searches 21%

Company web site

15%

Other Online

Recruiting 1%

Assoc. of Internet Recruiting, 7/00

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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

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Upheaval in Media

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Sunday Newspaper Circulation Declines September 1999

Circulation Category # of Papers Sept. '99 Circ. Sept. '98 Circ. % Change

500,000+ 21 16,020,777 16,066,673 -0.30%

250,000 - 499,999 32 11,264,750 11,414,253 -1.3

100,000 - 249,999 70 11,330,371 11,338,721 -0.150,000 - 99,999 102 7,549,624 7,634,273 -1.1

25,000 - 49,999 170 6,132,187 6,196,329 -1

Under 25,000 235 3,730,748 3,775,869 -1.2

TOTAL 631 56,028,457 56,426,118 -0.7

Source: ABC Schaumburg, IL and NAA Market & Business Analysis Dept.

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Employers Reallocating Ad Budgets

TODAY 2004

Newspapers/Print 32% 22%

Employment Agency Fees 26% 18%

Employee Referrals 6% 8%

Online/Internet 29% 44%

- 31%

+ 52%

Forrester Research, February, 2000

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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

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A Vibrant Employment Pipeline Debuts ...

… Just in Time

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U.S. Newspaper Circulation vs.120-million Internet Users

020406080

100120140160

1990 1992 1994 1996 1998 2000

Newspaper Internet

Reach in MillionsToday

2001

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Desirable User Demographics Moving Toward Mainstream

Source: Source: Mediamark Research, Spring 2000 (The Industry Standard, 6/26/00)

50%Male

50%Female

Gender

35%AttendedCollege

38%CollegeGrads +

Education

22%HS Grads

Occupation

36% Prof/Mgr.

26% Tech/Clerical/Sales

38%Craft/

Trades/Other

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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

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The Web Provides New Tools

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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

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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

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Lesson #5“Implement Strategies That

Drive Traffic”

All on-and-offline recruiting efforts must drive passive and active prospects back to you.

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Career Management Site Check Lists

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Job Seeker Career Site List:

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

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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

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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

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Coming Up Next...

A demonstration that will inform and empower you to make the right

choices.

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Monster.comhttp://www.monster.com

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My Monsterhttp://my.monster.com

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My Monster:Manage Resume

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My Monster:Cover Letters

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My Monster:Search Agent

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

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Research Companieshttp://company.monster.com/