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Online Recruitment in the United States 2005


Description:
Since the first edition of this report was published in 2002, the online recruitment market has seen significant changes. The economic downturn of 2001-03 markedly affected both revenue streams and the supply structure of the industry. In 2002, for instance, revenues actually fell by nearly 20%, while at the same time record numbers of job seekers were posting resumes to recruitment websites. This began to turn around in 2003, and revenues for 2003 and 2004 are at or above 2001 levels. The revenue outlook is good, as more and more companies and job seekers move their career advertising online. According to industry experts, 96% of Fortune 500 companies now use some sort of online recruitment process. Industry compound annual growth rate through 2008 is expected to be at around 22%.

The poor economy drove many recruitment sites into bankruptcy or out of business altogether, creating an opportunity for larger players to acquire or affiliate with the remainder. The outcome has been the emergence of an industry dominated by three major players: Monster, CareerBuilder and Yahoo! HotJobs, which together account for about 55% of revenues. The remainder is accounted for by a plethora of smaller, industry- or sector-specific sites that appeal to a specialized clientele--the big three are thus actually losing some ground to these niche sites.

The economy is showing signs of a recovery, though job growth remains slower the corporate growth and unemployment has remained at a relatively fixed rate over the past year. Online recruitment, however, is positioned to grow more quickly than other economic sectors. Jupiter Research has predicted that online advertising overall will exceed $16 billion by 2008, adding more than $10 billion from the industry’s total revenues today. Recruitment advertising will likely be the single largest segment of this sector.

This report uses the terms “e-cruiting,” “e-recruitment” “online recruitment” or “web recruitment” to describe companies within the market. This includes companies that post job listings for a fee and/or advertising revenue, whether the type of employment is for temporary, permanent or contract positions. The format is similar to that of classified sections in print ads. This also includes companies that allow organizations to view resume or profile online databases of potential clients for a fee.

Jobs posted in print are not included. Corporations’ proprietary company websites with job postings are also excluded.


Contents:

Introduction And Abbreviations
Introduction
Other relevant reports
Definition
Abbreviations & Terms
Abbreviations
Terms
Executive Summary
Market enters new growth phase
Consolidation and specialization
Labor, technology trends drive the market
New networking opportunities
A rapidly growing market
Big Three vs. niche players
Competition for qualified candidates
Consumers seek job information and options
Technological advances fuel future trends
Market Drivers

Introduction
Most Americans on hunt for new job
Labor force trends
Employment rates sluggish
Competition for available jobs remains stiff
Low average job tenure means ongoing need for convenient job search tool
Trends in corporate hiring practices
Figure 1: Share of Internet versus traditional hiring sources, 2002-2004
Graph 1: Share of Internet versus traditional hiring sources, 2004
Figure 2: Total newspaper employment classified advertising expenditures, at current and constant prices, 1999-2004
Graph 2: Total newspaper employment classified advertising expenditures, at current and constant prices, 1999-2004
Job seekers
Figure 3: Total online résumés, at current and constant numbers for the U.S. recruitment market, 1999-2004
Graph 3: Total online résumés, at current and constant numbers for the U.S. recruitment market, 1999-2004
Trends in the staffing industry, including online recruiting
Demographic factors
Figure 4: U.S. population by generation, 2005
Hispanics a prime target
Figure 5: U.S. population by race and Hispanic origin, 2000-2010
Figure 6: U.S. population by age and race/Hispanic origin, 2005
Figure 7: Labor force participation, by age and race/Hispanic origin, 2003
A more cost effective recruiting tool
Convenience and efficiency
Benefits to employers
Benefits to job seekers
The spread of technology
PC market penetration
Figure 8: Household ownership of personal computers, 2001-2004
Internet access and broadband connections
Graph 4: Internet access trends, by type of access, online U.S. households, 2003 & 2004
Rise of new online communications channels
Social networking
Figure 9: Leading social networking websites
Blogs
Privacy and security concerns
Figure 10: Attitudes about job hunting, online and offline, August 2004
Market Size & Trends
Figure 11: U.S. Online recruitment advertising and membership revenue, at current and constant prices, 1999-2004
Graph 5: U.S. Online recruitment advertising and membership revenue, at current and constant prices, 1999-2004
Graph 5: U.S. Online recruitment advertising and membership revenue, at current and constant prices, 1999-2004
Market Segmentation

Figure 12: Total spending on Internet recruitment, segmented by revenue source, 2002-2004
Supply Structure
Introduction
Recruitment company competition and trends
Sales and market share
Figure 13: Annual U.S. online recruitment advertising revenue, 2002-2004
Graph 6: Annual U.S. online recruitment advertising revenue, 2004
Company Profiles
Monster.com
CareerBuilder.com
Yahoo! HotJobs.com
Other online recruiting sites
6FigureJobs.com
America’s Job Bank (AJB)
MRInetwork.com
Careersite.com
Computerjobs.com
ConstructionJobs.com
Craigslist.com
DirectEmployers
Employment911.com
Futurestep
GoJobs.com
Hcareers.com
Kforce.com
Net-Temps.com
Techies.com
TrueCareers.com
Vault.com
Advertising & Promotion
Introduction
Internet advertising trends
Advertising & promotional activities among online recruiters
Monster
CareerBuilder
Yahoo! HotJobs
Niche sites
The Consumer

Introduction
Recent usage of online job searching
Figure 14: Online job search in last 30 days, May 2003-April 2004
Frequency of recent online job searching
Figure 15: Frequency of online job searching in last 30 days, May 2003-April 2004
Figure 16: Frequency of online job searching in last 30 days, by employment status, May 2003-April 2004
Figure 17: Employed respondents’ frequency of online job searching in last 30 days, by gender, May 2003-April 2004
Figure 18: Unemployed respondents’ frequency of online job searching in last 30 days, by gender, May 2003-April 2004
Figure 19: Employed respondents’ frequency of online job searching in last 30 days, by age, May 2003-April 2004
Figure 20: Unemployed respondents’ frequency of online job searching in last 30 days, by age, May 2003-April 2004
Figure 21: Employed respondents’ frequency of online job searching in last 30 days, by household income, May 2003-April 2004
Figure 22: Unemployed respondents’ frequency of online job searching in last 30 days, by household income, May 2003-April 2004
Figure 23: Employed respondents’ frequency of online job searching in last 30 days, by presence of children, May 2003-April 2004
Figure 24: Employed respondents’ frequency of online job searching in last 30 days, by race/Hispanic origin, May 2003-April 2004
Internet users’ use of online recruiting sites
Figure 25: Use of online recruitment sites for information or applying for a job, August 2004
Internet users’ attitudes about job hunting
Figure 26: Attitudes about job hunting, online and offline, August 2004
Figure 27: Attitudes about job hunting, online and offline, August 2004
Outcome of online job hunting
Figure 28: Outcome of online job hunting, August 2004
Figure 29: Outcome of online job hunting, by age, August 2004
Figure 30: Outcome of online job hunting, by household income, August 2004
Figure 31: Outcome of online job hunting, by region, August 2004
Figure 32: Outcome of online job hunting, by educational attainment, August 2004
Job sites visited
Figure 33: Job sites visited, August 2004
Type of job searched for
Figure 34: Types of jobs searched for, August 2004
Localized search or willingness to relocate
Figure 35: Search for local or jobs requiring relocation, August 2004
Conclusion
Future & Forecast
FUTURE TRENDS
Introduction
Broadband changes everything, again
Expanded use of blogging and social networking
New search and tracking technologies
End of the browser?
Highest growth careers
“Shopping” for jobs
Producing qualified candidates
MARKET FORECAST
Online recruitment advertising/membership revenue
Figure 36: Forecast of U.S. online recruitment advertising/membership revenue, at current and constant prices, 2004-2009
Graph 7: Forecast of U.S. online recruitment advertising/membership revenue, at current and constant prices, 2004-2009
Forecast Factors
Appendix: Trade Associations

Appendix: Research Methodology

Consumer Research
Sampling & Weighting
Presentation & Definition
Further Analysis
Trade Research
Informal trade research
Formal trade research
Desk & Internet Research
Sources
Definitions
Forecasts
APPENDIX: WHAT IS MINTeL?

Mintel Reports
Global New Products Database
Comperemedia®
Mintel Services
POS+
Mintel Consultancy


Companies Mentioned Monster.com CareerBuilder.com Yahoo! HotJobs.com Other online recruiting sites 6FigureJobs.com America’s Job Bank (AJB) MRInetwork.com Careersite.com Computerjobs.com ConstructionJobs.com Craigslist.com DirectEmployers Employment911.com Futurestep GoJobs.com Hcareers.com Kforce.com Net-Temps.com Techies.com TrueCareers.com Vault.com


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