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
1
New Era Technology Drivers
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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
Vacancies
2003
Projected IT
Vacancies
Source: US Bureau of Labor Statistics
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Chronic Shortages of Skilled Labor
10 Largest Growth Occupations, 1998-2008
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•
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•
Systems Analysts
Retail Sales
Cashiers
Managers/
Executives
• Truck Drivers
+94%
+14%
+17%
+16%
+17%
• Clerks
• Registered Nurses
• Computer Support
Specialists
• Home Health Aids
• Teacher Assistants
+15%
+22%
+102%
+58%
+51%
Source: Bureau of Labor Statistics
4
Declining Employee Tenure
Years Of Service
Depression
Survivors
25
20
15
10
5
0
50's
60's
Pension
Seekers
70's
1980’s
Victims
80's
“Free Agent
Nation”
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
0
1998
1999
Current Caps
Proposed Caps
2000
2001
2002
Current
Caps
Proposed
Caps
50,000
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
Candidate ID
Interview/Assess
Closing
# of Days
30
7
30
14
30
7
Source: Goldman Sachs/Kennedy Information
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Cost-efficiency
Resource
Internet
College Recruiting
Job Fairs
Employee Referrals
Print Advertising
Contingency Agencies
Retained Search
Exempt CPH
$
213
2,544
1,284
500
2,884
15,596
34,844
Source: EMA 2000 Cost Per Hire & Staffing Metrics Survey
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Lesson #1:
“Perpetual Labor Shortages”
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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
Online Spending (In Millions)
# Recruiters Advertising Online
160,000
$8,000
$6,000
$4,000
$2,000
$0
120,000
80,000
40,000
1999
2005
0
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
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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 Are
Generating Resumes
Other
Online
Recruiting
1%
Company
web site
Job
15%
posting
Internet
sites
resume
38%
searches
21%
Resume
databases
25%
Assoc. of Internet Recruiting, 7/00
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Lesson #2:
“Follow the Migration”
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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.
500,000+
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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
50,000 - 99,999
70
102
11,330,371
7,549,624
11,338,721
7,634,273
-0.1
-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
% Change
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
Today
Reach in Millions
160
140
120
100
80
60
40
20
0
1990
1992
1994
Newspaper
1996
1998
2000
2001
Internet
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Desirable User Demographics
Moving Toward Mainstream
Gender
50%
Female
50%
Male
Education
35%
38%
Attended College
College Grads +
22%
HS Grads
Occupation
38%
Craft/
Trades/
Other
36%
Prof/
Mgr.
26% Tech/
Clerical/Sales
Source: Source: Mediamark Research, Spring 2000 (The Industry Standard, 6/26/00)
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Lesson #4:
“For the Best Prospects, Tap the
Most Vibrant Pipeline”
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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
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Large database of jobs
Resume posting
Resume confidentiality
Employer information & links
Services for “Free Agents”
 Search Management Tools
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Job seeker search agents
Cover letter storage
Resume view reports
Resume recipients
 Convenience
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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.com
http://www.monster.com
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My Monster
http://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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Experts
http://content.monster.com/experts/
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Research Companies
http://company.monster.com/
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