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2000 AD Recruiting in the New Era

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2000 AD Recruiting in the New Era Powered By Docstoc
					       2000 AD:
  Recruiting and Job
Searching in the New Era
         Indiana University
Business Career Planning & Placement
     Tuesday, February 27, 2001
                      Brendan Connerty
                      Director, College Development


                                                1
    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

                                       2
Ira Gordon:




         Chronic Shortages of Skilled Labor
              1,200,000
              1,000,000
               800,000
               600,000
               400,000
               200,000
                     0
                           1998 IT            2003
                          Vacancies        Projected IT
                                            Vacancies

                                      Source: US Bureau of Labor Statistics

                                                                              3
    Chronic Shortages of Skilled Labor
    10 Largest Growth Occupations, 1998-2008

• Systems Analysts   +94%   • Clerks                         +15%
• Retail Sales       +14%   • Registered Nurses              +22%
• Cashiers           +17%   • Computer Support
• Managers/                   Specialists                    +102%
  Executives         +16%   • Home Health Aids               +58%
• Truck Drivers      +17%   • Teacher Assistants             +51%


                              Source: Bureau of Labor Statistics

                                                                   4
           Declining Employee Tenure

Years Of Service

           Depression
            Survivors
     25                   Pension
     20                   Seekers    1980’s
     15                                                “Free Agent
                                     Victims
     10                                                  Nation”
      5
      0
      50's         60's      70's         80's            90's

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

                                                                         5
 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.

          200,000
          150,000
          100,000
           50,000
               0




                                                        Proposed
                                                         Current
                    1998   1999   2000   2001    2002




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

                                                                                    6
           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
                                                        7
     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

                                                                 8
             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

                                                 9
 Change Direction -
Follow the Migration




                       10
   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

                                                                         11
 Employers Are Migrating To The Web
  Online Spending (In Millions)         # Recruiters Advertising Online

$8,000                               160,000
$6,000                               120,000
$4,000                                80,000
$2,000                                40,000
    $0                                      0
           1999       2005                         2000             2003
•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

                                                                               12
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

                                                 13
     Online Strategies Are
     Generating Resumes
  Other
  Online
Recruiting         Company
   1%
                    web site      Job
                     15%        posting
              Internet            sites
              resume              38%
             searches
                21%
                         Resume
                        databases
                            25%


                                          Assoc. of Internet Recruiting, 7/00



                                                                         14
               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

                                     15
Upheaval in
  Media



              16
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           -0.1
 50,000 - 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.

                                                                                           17
 Employers Reallocating Ad Budgets

                         TODAY   2004

Newspapers/Print         32%      22%         - 31%
Employment Agency Fees   26%      18%

Employee Referrals        6%       8%

Online/Internet          29%      44%         + 52%



                                 Forrester Research, February, 2000


                                                                      18
            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



                                                            19
A Vibrant Employment
  Pipeline Debuts ...
   … Just in Time



                        20
        U.S. Newspaper Circulation vs.
          120-million Internet Users
                                                         Today
Reach in Millions
     160
     140
     120
     100
      80
      60
      40
      20
       0
           1990     1992      1994     1996       1998   2000    2001

                           Newspaper          Internet

                                                                        21
  Desirable User Demographics
   Moving Toward Mainstream

Gender                         Education                           Occupation
                                    35%        38%                       38%
                                                                                        36%
                                  Attended    College                    Craft/
                                                                                        Prof/
 50%      50%                     College     Grads +                   Trades/
                                                                                        Mgr.
Female    Male                                                           Other
                                         22%
                                       HS Grads                             26% Tech/
                                                                           Clerical/Sales




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


                                                                                                22
               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
                                         23
The Web Provides New Tools




                         24
     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
                                                                25
     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

                                                                26
How Does Monster.com Stack Up
     to the Competition?



                                27
    Media Metrix Statistics
 Site                 Unique                Pages per       Power
                      Visitors   Reach       visit/mo      Ranking
Monster.com           5,873        7.1       28.8           204.5
HotJobs.com           2,219        2.7       10.4           28.1
HeadHunter.net        1,702        2.1       13.4           28.1
CareerBuilder.com     1,479        1.8       6.4            11.5
Flipdog.com           570          0.7       14.2           9.9
Dice.com              550          0.7       21.3           14.9
Jobs.com              505          0.6       6.7            4.0

Visitors: The number of opportunities for your postings to be viewed
Reach: The percentage of all Internet users visiting each site = valuable exposure to
your postings
Page Views: Site “stickiness” ensures repeat visits and better opportunities for
exposure to your postings
Power Ranking: A superior ranking in this area helps guarantee a better ROI
potential

                                                                                  28
 Site Traffic Trends - Media Metrix
           22%
                        Monster.com
     10%
                        CareerBuilder

                        Dice
9%
                        HeadHunter

                        HotJobs
 3%
      4%          52%   Other*



                                        29
       Your Cost to Reach Candidates

Site       Price To Post Job   Cost Per Thousand   Avg Traffic/mo
DICE.com          $395              $.69                570,000
CareerBuilder.com $150              $.10                1,479,000
HotJobs.com       $195              $.09                2,219,000
HeadHunter.net    $125              $.07                1,702,000
Monster.com      $295               $.05                5,873,000




                                                                    30
Resume Database Comparison
             1,120,000

1,650,000                            Monster.com


                                     HotJobs


                                     CareerBuilder


                                     HeadHunter
 2,700,000               8,443,000




                                                     31
       Your Cost Per Resume

Site       Resume Database Price   # of Resumes   Price per Resume
Monster.com       $9,400             8,443,000           $.001
CareerBuilder.com $3,540             1,650,000           $.002
HotJobs.com       $8,400             2,700,000           $.003
HeadHunter.net    $3,600             1,120,000           $.003




                                                                     32
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.
• MonsterTRAK
   – 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
                                                                      33
Marketplace Innovations
• Global Gateway
   – Network of local language sites with content and international job
     opportunities
• Monster Learning
   – Coming soon




                                                                          34

				
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