Pundits will tell you job boards are going to fall off a cliff any day now. They’ll be eaten by social media or something else, whatever that may be.
In truth, many will just change and adapt. Dice Holdings, a large job board company, released its earnings last week. They did $48.5m in Q2 up 8% year on year. Not bad considering the overall performance of Western economies.
LinkedIn, which makes over 50% of its revenues from recruitment solutions (software for recruiters and job ads) increased its revenues by 89% in the same period. So the public companies show us there’s life in the beast.
What’s perhaps more interesting is the growth in early stage companies. The recruitment sector is going through a period of intense change. The global shortage of skilled professionals is only going to get worse. Large corporates are moving more recruitment inhouse. Social media is impacting on employee referrals — the single biggest source of all new hires.
Where does this leave the oft disregarded job board. It’s worth looking at one of the most innovative and fastest growing companies in the sector. One example is adzuna, a free classified ad site. It’s only a year old and already has some 2 million UK ads listed, many of them jobs.
What we like about adzuna: it’s UK specific, the search is excellent and its easy to use. It also carries jobs from Zartis.com so obviously that’s a big plus. A really nice feature is the “value add” info provided around searches showing information on the average salary at a particular company or the average salary for a particular role. They’ve also added a neat feature to show job seekers their LinkedIn and Facebook connections at any of the companies listed.
We’re going to be monitoring the traffic coming from them and reporting back on it soon. Early indications are very positive.