Online recruitment refers to staffing using online portals and IT technical in network systems. This modern recruitment process helps enterprises to complete the staffing, through the third-party recruitment website or online recruitment services. Online recruitment platforms use an established database or search engine tools. Using futuristic technologies, these platforms enable end-users to accomplish the recruitment task.
In addition to finding a suitable match more accurately, quickly and effectively match positions and potential candidates, online recruitment platforms also rely more on their own ability of mining, sorting, and analysis of big data. This efficacy of online recruitment platforms constitutes its core competitiveness and subsequently, drives the online recruitment market.
The global online recruitment market is growing continually mainly due to the economic recovery and increasing industrialization. Additionally, the surge in the number of enterprises is impacting the growth of the market positively. There are a number of online recruitment platform available in the market. Social networking sites such as LinkedIn which provides an online employment-oriented service is also more popular and often preferred to search for suitable candidates. Moreover, contact discovery is the latest trend in the field of recruitment used for searching and pursuing the right candidates.
While Naukri.com and Monster.com are well-established online recruitment platform, many high-end talent recruitment platforms such as SEEK, Zhilian, StepStone, Dice Holdings, and Glassdoor have emerged recently. The online recruitment industry market appears to be highly competitive. Multinational and domestic companies churn the competition together to gain a big share in the online market.
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For instance, on August 2019, an American provider of human resources management software and services – Automatic Data Processing, Inc. (ADP) launched new Recruitment Process Outsourcing (RPO) Advertising Services. As an industry-leading provider of online payroll & HR solutions, ADP wants to make it possible for organizations to improve their job advertising & recruiting operations with the new RPO Advertising Services.
The Asia Pacific is expected to remain the largest region in the global online recruitment market. Countries such as China, India, and Southeast Asia regions will occupy a larger market share in the following years. The US among other North American countries would play an important role which cannot be ignored. Changes in the United States’ market might affect the development trend of online recruitment, globally.
The market is bifurcated into three main segments, by type, by application, and by region. By type, the market is sub-segmented into permanent online recruitment and part-time online recruitment, and others. By applications, the market is sub-segmented into secretarial/clerical, accounting/financial, computing, technical/engineering, professional/managerial, nursing/medical/care, hotel/catering, sales/marketing, and other industrial/blue-collar staffing.
By regions, the market is bifurcated into North America (United States, Canada, and Mexico), South America (Argentina, Brazil, Colombia etc.), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (Japan, China, Korea, India, and Southeast Asia), and Middle East and Africa (UAE, Saudi Arabia, Egypt, Nigeria, and South Africa).
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Resultantly, the market concentration becomes more dispersed, and the players are facing fierce competition. To deal with this, market players try to build stronger, enduring customer relationships by sharpening their process efficiency and creativity and thus, turn challenges into opportunities. As a catalyst for strengthening the workforce of businesses, these companies, deliver more sustainable results, availing a wide range of resources and applications.
On the other hand, customers’ demands and requirements change continuously, which, as a result, changes paradigms of the whole recruitment process. Players try to sustain in the market by delivering quantity service & advance technology and introduce new services continually. They understand the need to remain competitive in a challenging market and the growing need to make recruitment and talent acquisition more data-driven, transparent, and people-centric
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