Job Aggregators – Fad or Future?

A few months ago I did a presentation to a group of global recruitment professionals on social recruiting tools and sourcing channels. The group comprised of HR leaders and many “seasoned’ Recruiters; some of which had been in the industry for more than 15 years. As I started showing the breakdown of hire yield by sourcing channel, a single hand went up and delicately asked “What’s a job aggregator?” As the question was asked I could see heads bobbing in unison relieved that someone had the courage to ask the question. I have to admit, that with all the traction job aggregators have made over the last 5 years I was surprised that it was still such a mystery to Recruiters. So before I go any further I thought I would do a quick recap of what a job aggregator is.

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In its simplest form job aggregators are true “job search engines” that collect job postings from other sites across the web (including employer career sites and paid job boards) and store them in a very large database where they are searchable by job seekers. It’s appealing because jobs can be found in one place rather than spending time trying to find every possible place a job would be posted.[1]

Over the last decade job aggregators have evolved from just a central job repository to a sophisticated multi-dimensional digital advertising platform. It’s taken the traditional post and prey model and turned it upside down. So much so that sites like Indeed.com boast job seeker traffic to the tune of 140M+ global visitors each month[2]. In my opinion job aggregators are changing the sourcing game by:

  •  Aggregating job postings at no cost to the employer or job seeker. In other words it’s FREE. Employers don’t have to pay to post their jobs and candidates don’t have to pay to access job postings unlike the pay to post model of Imagetraditional job boards around the world.
  •   Being search engine optimized. If start your search on Google, Bing, Yahoo, etc. Job results returned are indexed to the aggregator first, often ahead of the employer site and job board sites. Their high search engine ranking means traffic is directed back to the aggregator site even if the job is advertised on a paid job board!
  • Introducing a Pay per Click (PPC) model for jobs. This brilliant idea piggy backs on internet advertising. Basically it provides employers the ability to sponsor jobs so they can rank higher in search results and be presented to candidates ahead of other jobs that appear for free. Costs are only incurred when a job seeker clicks on the link. Meaning you only pay for results.
  • Enabling employers to set their own budget. Employers are no longer required to pay huge lump sum, upfront, costs for postings. Instead they can set a monthly or one time budget and choose to use it as it suits them.
  • Being mobile optimized. As mobile has evolved, so have the aggregators. Their minimalist approach enables an easy and seamless user experience. Indeed.com has confirmed that about 49 % of global traffic to their site (69M+ monthly visitors) comes from mobile devices[3].

This approach has developed into a model that is fast becoming an industry standard. Employers are paying more attention as aggregators have slowly amassed hire yield away from traditional job boards and staffing agencies. I personally saw this shift in my own organization. The chart below is a simple metric I used (and communicated to the HR Team) to gain insight into our sourcing channel trends. It revealed the decline of job boards and agencies and the rise of social media and job aggregators. I wasn’t alone in seeing this trend. Many large, global employers I spoke to have also seen this trend and like me,  started taking their budgets reserved for job boards and investing them in job aggregator and search engine campaigns. Leveraging the pay per click model. It’s a clear and tangible indicator that job aggregators have disrupted the industry standard for job postings.

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It’s this kind of employer insight that has forced job board vendors to rethink how they offer their products and services to remain competitive. The impact is material. In October Canadian job board giant Workopolis launched Social Job Share (SJS), a job distribution product that shares jobs on their website to social media sites such as LinkedIn, Twitter, Facebook, etc. In May 2014, Monster Worldwide announced its move to a job aggregator, pay for performance model.

spj_facebookJob Aggregators haven’t only challenged job board vendors. Their disruption has also extended to social networking platforms. Facebook launched its Social Job Partnership (SJP) job posting site in 2012. They chose to aggregate job postings instead of asking employers to pay to post. Even LinkedIn has not been immune to its influence. In June 2014, they announced they would be aggregating job postings to their active job seeker population in the US. A strategy shift from its paid job slot offering.

Despite the higher yield of candidate hires and lower ROI, many employers struggle to completely relinquish their use of job boards to aggregators siteing low brand awareness. Recruitment functions complain Manager’s seem to have little or no awareness of brands like Indeed or Simply Hired compared to well known brands like Monster, Naukri, CareerBuilder, Workopolis, etc. The success of aggregators should be a signal to recruitment functions that it’s more important to invest where the candidates are. Manager awareness should not be the driver of a sourcing strategy. Recruiters should be using metrics such as source of hire to educate Managers and build awareness. It certainly doesn’t hurt aggregators to invest in building brand awareness either.

There’s no doubt job aggregators have become a game changer. Their simple, yet effective model has transformed the concept of paid job postings. This forward thinking approach will continue to chart the way we think of sourcing and applicants.

ROIYou may wonder; if aggregators are posting jobs for free, why should employers invest? I love this question because I answer it the way any savvy business person would. If free is yielding a good ROI, imagine what would happen with a real investment?

I’d love to hear your stories/experiences about how job aggregators have impacted your sourcing strategy. Contact me @annzaliebarrett or through LinkedIn.

 

[1] http://www.job-hunt.org/findingjobs/findingjobs_job_aggregators.shtml

[2] Indeed Interactive Conference – 2014

[3] Indeed Interactive Conference- June 2014

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What Will Be the Title of Your 2014 Chapter?

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First, I want to start off by wishing all of you a very happy, safe, healthy and prosperous New Year. As the New Year begins, it provides a sense of optimism, opportunity and possibilities. I like to think of it as ending the chapter of the previous year and starting a new chapter charting your course for the year ahead.  So what will the  title of your 2014 chapter be? For some the chapter may contain goals for a new job, home, travel, more money, etc. The title of your chapter can guide you on creating a plan to help you achieve those goals. It can serve as an anchor to remind you what you set out for the year.

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If your 2014 chapter has aspirations for a promotion or career change (and of course more money), consider exploring development opportunities that may be available to you through your company’s eLearning tool or education/training programs. Social networking tools such as Facebook, LinkedIn, Twitter and Google+ also have free groups you can join to participate in conversations, projects, webinars, events and industry discussions. Upgrading your skills in an evolving market is always a good idea.

It demonstrates your willingness to learn new things and keep relevant. Take a few moments to think about what new skills or training you would like to acquire and how that may help you align with your holistic career plan.

Maybe you’re quite happy win your job but would like to get a better sense of what’s happening within your coffee chatcompany or out there (in your industry). The start of the new year should also be the start of new relationships. Take some time to build networks both within and outside your organization. I am a firm believer that different perspectives can help you make a more informed decision about what’s happening both beside you and around you. How about making a goal to network with six people this year? That’s one every two months.  Perhaps three people internally and three people externally. Maybe they’re acquaintances that you casually interact with that you would like to get to know better. Build you networks through LinkedIn, Twitter and/or Google+. Pick a few people and reach out to them. If  you can’t meet in person, set up a virtual coffee. Building and cultivating your network can be an important step in helping you make connections to realize your end goals.

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Regardless of your end goals. as I wrote in my last blog post How to Articulate Your Accomplishments for Your Performance Review, make a point of updating your online profiles to include accomplishments, skills and projects you completed. Having an updated profile helps build your brand and showcase your updated skills.

Finally, and most importantly, incorporate your personal goals and objectives into your 2014 chapter. The way we feel is the foundation of
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how we project ourselves to our family, friends and work colleagues. Feeling positive about you should be your number one priority. Maybe it’s time to take up a new hobby or start an exercise routine. Having balance helps put you into the right frame of mind to focus and achieve your goals.

As for me…the title of my 2014 chapter will be an expansion of my 2013 continuous improvement philosophy, simply: “Expanding My Perspectives Through learning”.That will include both professional and personal goals.

I look forward to hearing what titles you come up with for this year. I wish you every success in achieving your goals. Tweet me @annzaliebarrett !

Why Social Recruiting Is Inevitable

I was inspired by the recent blog post by Bilal Jaffery who landed a social media job via Twitter. His story is a great example of how some Gen X and Gen Y’s are approaching job sourcing. It centres around engagement and conversations on social networking platforms.

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The relationship component plays a bigger role in helping candidates determine if a company is the right fit for them. At the same time it also gives organizations the chance to interact with potential candidates to build a qualified talent pool.

His story also validates the shift happening within recruitment. Candidate behaviours are driving employers to adopt social recruiting practices to solicit passive talent. Companies who have been social media shy are at risk of being bypassed as a destination for top talent. Candidates are judging the employer as much as the employer is judging the candidate. Bilal’s blog post highlighted a few things that employers need to do to remain competitive:

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  • Social media is mandatory– The fact of the matter is, if you’re not on a social media channel, at a minimum to build brand awareness, chances are you may be screened out as a potential employer. Much like dating, candidates want to build a relationship with their potential employer before they make a commitment. Your social media presence provides some insight into what your brand means to consumers and how you engage with them. The focus is on engagement and responsiveness.
  • Employees are your best brand ambassadors– There are hundreds of blog posts that attest to this. Tweet_bloombergIn the case of Enterasys it was the CMO’s tweet about a job opportunity that enticed Bilal to reply. Social media has empowered managers and other employees to actively participate in the recruitment process like never before.  Many managers have embraced social media as a way to partner with recruitment, actively share jobs to networks and identify possible candidates to contact. At the executive level, interaction via social media is a reflection of an organization’s willingness to working in a modern, forward thinking way.
  • LinkedIn will become the universal social job profile– LinkedIn has established itself as the professional social networking channel. This is the place where you can really create your own professional brand, market your experiences, projects, languages and LI_resumeportfolio of accomplishments. Consider that 100 new profiles are created every minute on LinkedIn*. According to mashable.com;  student use of LinkedIn increased 700% in 2012 as students and new grads individually and through their schools used the tool as a primary way to learn about new jobs and engage with potential employers. As a result profiles are being used as virtual resumes. As social media log on’s to third party applications continue to proliferate the virtual landscape, applicant tracking systems have also embraced LinkedIn integration’s providing candidates an option to use their profile as the basis of their job application. For those companies still requiring a resume, LinkedIn users can quickly download a copy of their LinkedIn profile in a resume format.

So what’s the message here? Candidates are learning about opportunities through a variety of social media channels. If you want to be a viable contender in the market, step up your social media efforts. That doesn’t mean putting all your eggs in the Twitter nest. It means diversifying your social media approach and really focus on engagement.

By Ann Barrett – Director eRecruitment & Social Media Strategy

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