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(May 1, 1998) An American Electronics Association (AEA) study of Internet and WWW salaries found A broad range (from $40,000 to $120,000 annually).
Have we mentioned the College News recently? This newswire service strikes us as a solid potential tool for recruiting on-campus.
NUA's How Many Online estimates that 2.40 percent of the population worldwide (115.75 million) people are online throughout the world.
(April 30, 1998) The other side of recruiting is retention. While money clearly works (and we're hearing consistent stories about huge pay increases coupled with stock options and very flexible work conditions), there's a renewed emphasis on basic workplace variables:
With turnover expenses rapidly growing beyond $20K per employee, it's worth taking the time to ask a simple question: Can our recruiting practices decrease turnover in a significant way.
We bet that the web will begin to be used as a tool on this front.
(April 29, 1998) The newspapers are losing the war. Although a subset of professional recruiters seem to object to the requirement for cashflow, our industry runs on money. While it isn't true that the biggest is the best or that the largest sales volume translates into effective recruiting, money is a determining factor. With the sole exception of the Wall Street Journal, we know of no traditional newspaper who is making real money online.
At the same time, small entrepreneurial organizations (like DICE in yesterday's article) are experiencing real growth.
Now, it's understandable. Big newspapers often have 9 figure revenue streams from their employment advertising operations. Because the advertising agencies "carry the water", the newspapers aren't used to thinking about markets and customers. The current total size of the online recruiting industry remains a blip on the radar screens of the old journalists. Paper advertising can't be quantified while online advertising can be solidly tracked and measured.
So, they flounder.
Shortly, we expect to see some interesting moves. As we begin to be able to see a $1B online recruitment market, someone at the newspapers will begin to wake up. We'll be watching for the purchases to begin.
(April 28, 1998) From DICE (the in-the-know place to find high tech contractors) comes the interesting news that their database of job listings has topped 50,000 jobs. The news comes with a sales forecast for 1998. DICE anticipates revenues of $8M.
Our current back-of-the-envelope scratchings put that at 2% of the 1998 online recruitment advertising marketplace. Yup, we're betting on a $400M year with $1B in sight for 1999.
That doesn't include direct revenues (or cost savings) for recruiters who use the web directly. We've become a big business. Online job hunting is the de facto starting point for anyone looking to find work, enter the marketplace or shift careers.
It's a long move forward from the early days in 1994 when we began looking at an industry composed of 5 websites. Tactics, strategies, investment levels and players have evolved at a remarkable pace.
The really powerful thing about the DICE announcement is the background story.
DICE predates the web significantly and is largely the work of a single minded entrepreneurial team who, at great personal risk, launched a business in their bedroom. When the web emerged, the DICE team treated it with the conservatism you'd expect from an established player. They ignored it.
To their great credit, once the team figured out that the web was not a passing fancy, they jumped in feet first. They, as we continue to preach, were aided by a well established audience who stuck with them. As they've emerged online, they've managed to move quickly and effectively into the web space.
DICE's survival and growth are a case study in audience and customer development. Their "capital" is human. They know it and invest in it regularly.
In this marketplace, 2% is a very meaningful accomplishment. Imagine the envy of the 5,000 entrepreneurs who are nowhere close.
(April 27, 1998) Sometimes, an organization creates a regional industry. That's pretty much the case with NYNMA (the New York New Media Association). If you've heard of "Silicon Alley", it's because of their hard work. Realizing that the Internet requires a human network to support it, NYNMA has tirelessly built events and connections for its membership. The result is a vibrant, influential organization that happens to have a website.
If you want to hire real New Media talent in New York, you'd better list the job on their job board.
From a design perspective, the job listings underline a critical principle in Electronic Recruiting. Audience comes first; everything else is second.
Although there is a database beneath the listings, what you see as a user is simple critical information:
The NYNMA jobs board is not a model that everyone can use. As a job hunter (or recruiter, for that matter), you don't just wander in. Because the organization is so vibrant offline and their audience is created through other means, they can get straight down to business.
As a recruiter, the lessons are simple.
Advanced Seminar Series
(March 16, 1997): Our educational series has been expanded. We will be delivering seminars in 12 cities this Spring. We will be offering both of our successful courses, updated to reflect the changing web environment.
Seminar I: Management, Strategies and Tactics
Schedule For Seminar I
Seminar II: Advanced Searching and Sourcing
Schedule For Seminar II
Enroll today, seats are still available. There is a discount available for early registrations. The seminars have a retail price of $995. If your payment is received by April 15, there is a $150 discount. For Payments received by May 1, the savings is $100. We offer an additional discount of $100 for each member in a group of 2 or more.
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