EVALUATING THE EFFECTIVENESS OF TALENT ACQUISITION THROUGH E-RECRUITMENT IN NIIT

Abstract

Online or E-Recruitment has become nearly ubiquitous in medium and large businesses and is growing in popularity for small business owners, too. According to industry experts, from 1998 to 2001, the number of Fortune 500 companies that had job recruitment websites increased from 29% to 88%. By 2008, over 98% of them were using some sort of online recruitment process. As may be expected, this sharp increase means that traditional avenues for recruitment, such as newspaper advertisements, no longer command the share of use they once enjoyed. In 2000, employment newspaper classified advertising in the U.S. was worth $8.7 billion. By 2002, however, the Newspaper Association of America reported only $4.3 billion, a more than 50% loss. Borrell Associates predicts that newspapers will suffer a further 12% revenue decline by 2012 as recruitment budgets continue to move online. By contrast, online advertising for recruitment purposes is growing. Jupiter Research has predicted that online advertising overall will exceed $16 billion by the end of 2008, adding more than $10 billion from the industry’s total revenues in 2005. Recruitment advertising will likely be the single largest segment of this sector. Job seekers have come to expect online access to job data and the application process. Research by Mintel reveals that 42% of respondents with Internet access look for job information via online recruitment sites, a number that is projected to increase substantially, with the format rapidly gaining acceptance. Employers and job seekers note a number of benefits of e-recruitment over traditional methods. The Human Resources Management Guide (www.hrmguide.net) lists some of the more important ones.