Australian eRecruiting Industry is Booming, IDC Says
NORTH SYDNEY — NOVEMBER 28th, 2000 — According to IDC, the Internet is significantly changing the Australian recruitment landscape and quickly becoming an invaluable channel for employers and job seekers alike. In recognition of the dizzying pace at which eRecruitment activities are springing up in Australia, IDC today announced the release of a special report that covers this area, "The Australia eRecruiting Market: Analysis and Forecast, 1999-2004" (IDC #AU44202H).
The IDC report estimates that spending on online recruitment advertising in Australia in 1999 totaled AU$14.7 million, and this figure is set to grow at a compound annual growth rate (CAGR) of 86.2% to reach AU$329.3 million in 2004. The figure includes not only spending on Internet job listings, but also on banner, button and other types of ads such as corporate profiles and microsites that are purchased by recruiters to attract attention to their recruiting campaigns.
"The Internet's impact on the Australian recruitment market to date has been mainly on the initial stages on the recruiting process – posting vacancies and identifying and assessing candidates. However, a handful of Web-based end-to-end solutions that attempt to manage the entire process have recently emerged," said Lisa Shishido, IDC Australia's Senior Analyst, Internet and eCommerce, who authored the report. There is tremendous opportunity in offering business services related to online recruiting, and vendors that can offer a winning combination of content, tools, and services to employers and job seekers will prevail in this market.
Specifically, the enterprises that comprise the Australian eRecruiting market include Internet employment sites, Web-based end-to-end recruiting solutions providers, which are also called hiring management systems, and recruiting agencies with online activities. "In each of these categories, challenges abound – but more importantly, so do opportunities," said Shishido. "For example, the large number of employment sites currently competing for a limited pool of advertising dollars means that most are finding it a challenge to make profits as they face the pressing question of when and how they will reach profitability," she explained. "However, the opportunity lies in beating or outlasting competitors to become one of a small handful of sites that will eventually dominate the market, reaching critical mass in users and advertisers and branching out to create other revenue streams," she said.
Meanwhile, Ms. Shishido warned that traditional recruiting agencies face the challenge of moving to 'Internet speed' to keep up with competitors. To survive and thrive, they must adopt technology that can make their business more efficient and be more proactive about communicating their value proposition to clients. "The days of agencies that are simply resume shufflers who view candidates as walking invoices are over. The opportunity lies in harnessing the power of Internet technology to make business more efficient," Shishido said.
The IDC report "The Australian eRecruiting Market: Analysis and Forecast, 1999-2004" is designed to help Internet recruiters and their partners gain a foothold in this emerging market. The report provides an in-depth examination of market segments, successful strategies, and market drivers and inhibitors, as well as profiles of category leaders. Companies involved in eRecruiting and examined in this report include Internet employment sites, Web-based end-to-end recruiting solutions providers, and recruiting agencies with online activities. In addition, the report contains a demand-side market sizing and five-year forecast of the Internet recruitment advertising market in Australia.
To purchase this report, please contact John Mlynowsky at (02) 9925-2237 or email firstname.lastname@example.org
IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and eBusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts local and worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world's leading IT suppliers, IT organisations, eBusiness companies and the financial community. Additional information can be found at www.idc.com.au