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YOUNG RESEARCHER
Abstract
Purpose - Aims to review e-recruiters' web site platform features and tools that are designed to facilitate job seekers' job applications. Also intends to elucidate the financial performance of two international and two Malaysian e-recruiters.
Design/methodology/approach - Discusses and compares three international (Monster.com, CareerBuilder.com, and HotJobs.com) and three Malaysian (JobStreet.com, JobLinkAsia.com, and JobDB.com) e-recruiters' backgrounds and initiatives. Presents the e-recruiters' and online platforms, their current practices and overall strategies and financial performances.
Findings - Observes that the e-recruiters' revenues are growing rapidly while profits are still elusive.
Originality/value - Presents an overview of e-recruitment service providers, both international and malaysian.
Keywords Recruitment, Financial performance, Nationalization, International organizations, Malaysia
Paper type Case study
Introduction
As global competition persists and industries become more skill intensive, the demand for talent or knowledge based workers with the capacity to be creative and innovative is escalating. In the light of this fact, it has become essential for the companies to adopt sophisticated recruitment and selection strategies to get the right employee at the right time. The traditional recruitment procedures are not coping up with the industry requirements especially in selecting the right candidate quicker. Eventually, e-recruitment emerged as handy and advantageous method over traditional methods. E-recruitment, as business activity, is fast growing globally and is worth billion of a Ringgits Malaysia annually. In early 2000, the dot-com shakeout did not affect all the internet businesses. According to the US recruiting consulting firm, Internet Business Network, the number of world wide web sites containing job listings exploded from 500 to 20,000. The number of resumes posted on the e-recruitment web sites also grew from 100,000 in 1995 to 2.5 million in 1998. Where potential employees flock, there companies follow. By the middle of this decade, Forrester Research estimates that 124,000 firms will be recruiting online (Harvard Management Update, 2000). Further, Forrester Research forecasts that e-recruitment revenue will grow from about $600 million today to $7 billion in 2005, but the revenue will be spread among only a fewer sites (Murphy, 2000).
Changing recruitment and selection strategies require capitalising on technology. Cappelli (2001) states that with the presence of online hiring (e-recruitment) in the internet through powerful search engines, the labor market has become a true market,...