E-recruitment is the name of the game

Font Size

Print

Feedback

Email

Discuss

Save & Share Article

What’s this?

Digg	My Yahoo	Fark
del.icio.us	Newsvine	Reddit

Rate This Article

Rating:  0

Riding on the back of a war for talent, online recruitment is steadily gaining a bigger share of the recruitment pie. While IT and ITeS companies have been their traditional clients, companies from diverse sectors such as auto components and pharma today are relying on online recruitment to fill up their vacancies. According to industry estimates, between 30% and 40% of placements are now made through the Internet, either through job sites of individual companies or through online recruitment agencies.

The IT sector was the first to move online. IT companies usually need to hire a large number of people. Therefore, IT human resources departments and job seekers are tech savvy and have access to the Internet at all times. However, with Internet penetration increasing to over 60 million users, and other industries like engineering and telecom, automobile and machinery, construction, pharma, banking, insurance and financial services also now growing rapidly and recruiting in large numbers, online recruitment has pretty much become the gold standard for all human resources departments.

Explains Jobstreet.com CEO Anand Iyer, “Companies look at e-recruitment when they start recruiting in large numbers. This is, typically, the case when a company is ramping up, hiring in thousands to set up a new centre.” Jobstreet has a database of more than 5 million resumes with BFSI (banking, financial services and insurance), technology, telecom and pharma companies accounting for its clients.

According to experts, the job search market including print medium and placement consultants will grow from Rs 1,500 crore in the financial year 2006 to over Rs 2,800 crore in financial year 2011 at a CAGR of 13.4%.

During the same period, the online segment is expected to grow at CAGR of 31%, gaining market share from the print and consultant segments and hence, is set to improve its market share of 10% in financial year 2006 to 21% in financial year 2011.