Competitive Strategy For E-Recruiting and Its Benefits

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The use of internet recruiting has dramatically increased in the last five years. A telescopic view of online recruitment is that everywhere you look and every thing you see is highlighting some sort of Website address. Whether you are ordering food, looking for a good book, banking, or buying insurance, everything can be done from the comfort of home via the World Wide Web. It is certainly no secret that people have been and are continuing to flock to the Internet by the droves. According to Pew Internet, 70% of the U.S. population is now on line, 50% of which have high-speed Internet access. What does this mean to on-line recruitment? It means that you can get your job advertisement recruitment message in front of qualified potential candidates faster and easier than ever before and from an employee’s perspective, he can apply to a job any where in the world just sitting in front of a computer and clicking the mouse. Here is a brief history of monster.com more than doubled its income from job postings in 2001 while newspapers reported a 17% decline.

In 2000, employment newspaper classified advertising in the U.S. was worth $8.7 billion, the Newspaper Association of America’s preliminary statistic for 2002 is a stunning $4.3 billion. The purpose of E-Recruiting is to attract the potential pool of applicant for their job vacancy. To attract potential candidates the organization should adopt following strategies.

1. Organizations own web site that can be used for recruiting purpose. It is much better for a company to have a separate site for its recruitment and selection purpose.

2. Monster.com. CareerBuilder.com. It is essential to include regular postings to at least one of these sites as an anchor to an online posting strategy. But to be on the safer side company should focus on its own web site.

3. A strong data base should be made in order to avoid over loading of resumes. Solutions to managing resume overload generally involve throwing resources at the problem. You can hire a recruiter to do the job for you, or install some form or Applicant Tracking System to help automate it. But if you can’t justify installing a system, and don’t want to pay for a Recruiter, you end up dealing with the resume overload by hand and that method is to use a questionnaire that the applicant would fill in when they apply for the position. Recruiters can tailor the online questionnaires to detect the required skills, to meet the exact needs of a company, position, or requisition.

4. Assess your needs of recruitment then have an over view of your allocated budget and then purchase an applicant tracking system through a decentralized decision. Many companies are using applicant tracking systems (ATS) to find top job seekers faster and improve hiring efficiency. But many of these systems do not accurately record which job boards are sending quality candidates to their clients, says the world’s largest alliance of employment Web sites, Nicheboards.com. Companies who rely on applicant sourcing reports that are often hopelessly inaccurate may make online recruiting decisions that end up lowering the number of quality candidates they actually receive.

5. Each site drives a different audience and companies that diversify their Internet recruiting strategies have achieved higher levels of recruiting success. The best practice is to incorporate a mix of sites. Because relying on a single web source could not attract a pool of applicants. So companies should post their vacant vacancies on their own recruitment site, national sites, industry specific sites and regional sites to get effective e-recruiting.

Least five reasons why it is prudent for organizations to place a heavy emphasis on their own employment Web page.

1. Effective use of an employment Web page is a low cost alternative to traditional recruitment strategies for both organizations and applicants.

2. Job boards generally provide job relevant information in a generic format which does not document the unique qualities of an organization.

3. An organization’s employment page provides a first impression to potential applicants, which is important for those applicants’ intentions to pursue a job.

4. Through a corporate Web page information can be presented that highlights unique aspects of the corporate culture that may attract individuals whom would fit especially well within the organization.

5. Organizations can allow individuals to apply online within the Web site using features designed specifically for the needs of the organization.

Changing Era of E-Recruitment

Now the world of recruiting is changing companies tries to hire an employee on referral basis. Nortel Networks, the world’s second-largest maker of network equipment, has upped the ante in the war for talent: It’s offering $1 million in cash and prizes to employees who entice skilled contacts to join the company. And Nortel’s not alone. PeopleSoft has begun paying $5,000 finder’s fees structured so they’re tax-freeto employees who refer marketing managers, and BabyCenter.com is offering a $2,000 bonus and a bottle of pricey champagne to its employees who refer new hires. Today, smart recruiters are tapping the resources of an increasing number of Web-based employee referral systems. Take Referrals.com, the latest entrant in the war for your recruiting dollar. The recruitment startup offers a targeted approach to engaging a company’s best-performing employees to contact a handful of other professionals whose work they respect in return for bonuses for referrals that result in hires. If a hire is made, the online venture gets 20 percent of the referral bonus as its fee.

Online recruiting dramatically increases exposure of an organization to applicants at a fraction of the cost of traditional job advertising methods. The average recruiting cost for U.S. companies has been reported to be between $8,000 and $10,000 per applicant depending on the type of employee being selected. In sharp contrast, the cost of attraction using online recruitment has been reported to be as low as $900 per applicant. In addition to the financial cost savings, online recruitment also provides considerable time savings. The amount of time spent in the recruitment and selection cycle has been estimated to decrease by as much as 25 percent.

From an applicant’s perspective, the opportunity cost of searching for a job dramatically decreases on the Internet. Job information can be obtained quickly and easily online. Some organizations have job databases that include the descriptions of hundreds of jobs. Online application to jobs usually requires little more than filling out a few lines of personal information and clicking a submit button. Instead of physically traveling to different organizations to pick up application materials, online job seekers can search and apply for jobs in geographically dispersed locations without leaving their desktop. This savings in time may be particularly beneficial for recruiting passive job applicants. Unlike active applicants who are explicitly motivated to find work, passive applicants are typically employed individuals who are willing to explore the potential job opportunities that may be available. Passive applicants are the type of job seeker organizations place a high premium on when there is a tight labor market. The Internet has revolutionized the ability for the passive job seeker to find new employment opportunities and for organizations to reach out less intrusively to the passive job seeker.

Organizations can leverage unique aspects of their culture through the information they present on their web site. A great deal more information can be communicated through a company’s web site than has been possible with traditional recruiting materials (e.g., newspaper advertisements or brochures). A critical advantage of providing this much detail allows an applicant to make a more informed assessment of his/her fit with an organization. There are both long and short term advantages of this to an organization. In the short term individuals who do not feel they will fit within an organizational culture will exclude themselves from employment considerations, thus saving human resource time and effort. In the long term, people who fit within an organizational culture are more likely to be productive, long-term members of an organization. This thing provides benefits to both applicants and the recruiters.

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