PRESENT SITUATION.
At the present time, the labor market is moving from high-cost, low-speed recruiting to low-cost, high-speed online recruiting. An increased number of online career services has shifted the traditional, slow-hiring process to a digital, fast-hiring process. While employers spent $105 million in 1998 on online recruiting, researchers expect this number to rise to $1.7 billion by 2003 (Useem, 1999). Furthermore, since the Internet is a communications tool, employers are finding talented employees, as well as, executive-level managers.
PROBLEMS WITH PRESENT SITUATION.
However, a vast number of companies still prefer the traditional method of hiring. These companies do not believe that they can hire talented employees by posting job openings online. In addition, they believe that money spent on online advertising and job listings is an unnecessary expense. What these traditional Human Resource Departments do not realize is that traditional hiring is costly and slow, and competitors who enjoy the ease of online recruiting increases global exposure.
SOURCES AND METHODS.
In preparing this report, we have gathered valuable information concerning the benefits of online recruiting. Useful references were obtained via the Internet. Several Web sites used are as follows: www.recruitersnetwork.com, www.hrhub.com, and www.shrm.com. The articles from these Web sites discussed how companies can reduce recruiting time and how they can gain global exposure. In addition, it listed major job boards used by companies to find potential employees. Data was also gathered using a random survey of local college students to evaluate the use of job search engines. Lastly, we have analyzed graphs that illustrate recruitment costs of recruitment methods, a comparison of cost-per-hire between online recruiting and the traditional method, and survey results pertaining to how 150 students felt about online recruiting.
