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Recruitment: Video is hottest tool

June 11th, 2008 · No Comments

According to Gordon Borrell of Borrell Associates, video is the hottest new tool in the arsenal for both employers and recruiters. Total ad spending for online video was $522 million in 2007 and is expected to reach $10 billion by 2012. A significant portion of the early spending on video ads is going to job and employer-related video. Hundreds of major companies have added short-form videos to job sites expounding the virtues of working at their companies.

he employment sector will change dramatically in the next five years. January 1, 2008, marked the date the first baby boomers became eligible to collect Social Security. As they begin to exit the job stage over the next several years, recruiters will have a harder time finding professional-level candidates to replace them. The challenge is a big one: There are more than 77 million baby boomers and only 49 million in the Gen X group to bridge the 11-year gap before Gen Y and its 74-million-strong work force can start making an impact.

Companies will be rethinking their recruiting strategies. Over the next four years, we expect total recruitment spending to increase 25 percent, from $58 billion in 2008 to $73 billion in 2012. The beneficiaries will be online media and full-service employment agencies. Online spending will increase 23.5 percent to a record high of over $11 billion. Opportunity abounds online: nearly half the job seekers who have Internet access are not using online media to look for a job. The main losers of recruitment revenue will be large-circulation newspapers, which will see their job-related revenues decline by 12 percent over the next four years.
There are sites geared toward hourly and part-time positions and there are sites focused on demographic and lifestyle groups such as retirees and stay-at-home moms and dads or residents in a particular geographical area. The rise of social networking sites such as LinkedIn and management tools for “active job seekers” will increase the options for recruiters and jobseekers alike.
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Tags: Recruitment

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