This isn't all too surprising given the number of traditional publishing houses that have acquired jobsites. Basically what I've seen coming down the pipe is a scenario whereby if you buy an online advert with a jobsite, they'll throw in a free copy of the advert in the newspaper.
What was you first thought? Mine was, "good value for money". The Sunday Times in South Africa have just launched such a program in conjunction with http://www.careerjunction.co.za/ which is SA's leading jobsite. Not sure what a posting costs, but let's assume $250, and they'll throw in a paper advert that costs triple that. Now I'm thinking great value!?
This demonstrates a few things, not least of which the ways in which traditional business models in recruitment are still learning how to adapt to the digital recruitment era, and also how complementary the two era's can actually be.
Guessing that the newspaper claims a higher quality of responses, and clearly has seen a decline in sales. I also imagine that they can't afford to run this promotion for very long as its designed to increase people using the site and to draw them back to the newspaper - but I also see this will have to bring the newspaper ad costs down a little bit in time. That has to be a great trend for recruiters.
I remember launching the online jobs section of the company website for a large search firm when there were only one or two job sites in the UK. Here we were a few hundred exec search consultants handling a thousand assignment across the globe, and not using the Internet. 75% of the staff probably didn't know how to use the Internet to be honest. This is only 11 years back so it's funny thinking about it now. Anyhow, back to when we decided it would be a good idea to put each of our assignments onto the company website.
There was much debate about whether clients paying $50,000 fees for exec search would be a little unhappy with us putting these jobs on the website; which previously had office telephone numbers, a client list, and little else. Luckily the CEO was 30-something so we got away with it. Clients didn't care of course, so long as we delivered, but they wouldn't elect for it to happen, or request it, as of course they didn't understand the Internet thingy either at this stage. So what we did was made the decision for them. We stopped asking permission, put every brief online, and added 100 pounds sterling to every retainer invoice that went out of the door.
The revenue increase wasn't huge, but it was a healthy and profitable move, it was innovative at the time, and it helped us find a few candidates along the way.
I think it's great to see what has changed in a decade and how the Internet continues to change how we operate. In the mid-late 90's we discretely popped a copy of an advert onto our website which was a service client would pay $50 grand for, and added 100 pounds for the privilege. By they way if the brief was to be put into a newspaper, they'd get charged another $15,000 for that plus 12.5%.
Fast-forward 10 years and jobsites are starting to be used to push packages including a freebie newspaper classifieds ad.
The pace of change is also gaining speed, and I think we'll see in only a year or 2 down the line, that jobsites will have to be bundling recruiter video services for hiring managers to be able to visually sell an opportunity. This along with an online job posting, a virtual way of allowing candidates to search for a job and then really determine if the company is for them before they apply - has to be the way forward.
I'll write more about video recruitment in my next post.
In a related little soundbite a read that Harvey Nash have just launched an online 'newspaper' (their name not mine) for executive jobs. A slight variance on a jobsite, they're really trying to find a new way to get senior execs online to search for jobs, without having to go to a job board. Actually its what I was doing with my old search firm a decade ago - but that wasn't my point, rather that people are still trying to merge the old and the new. They're scared of fully utilising the Internet and having to reduce their fees, but also appreciate that execs are now online but perhaps need to be served the job content in a VIP format.
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