Have you noticed fewer job postings when you're searching the job boards? Barron's reported that Monster's job postings were down 18% in April and 21% in May. Overall, The Conference Board reported that online job postings dropped 13% in May. Some of it is, of course, due to the difficult economy and less hiring in a soft job market.
That's only part of what's happening. There is also a trend towards actively recruiting candidates on professional networking sites like LinkedIn. Which is why it's important to make sure employers can find you when you're job searching.
Finding Qualified Candidates
Another factor is in play here, and it's an important one for job seekers. A recent online recruitment survey of 3200 Human Resources professionals conducted by Realmatch, the job site that takes job seekers skills and qualifications and matches them with jobs posted by employers, found that companies are using alternatives like pay for performance job sites, which charge employers only after they review candidates and opt to contact them.
Over 68% of survey respondents said that they were not satisfied with mainstream job site technology, pricing, or models and want something new. Close to 75% of respondents state that resume databases do not uncover quality candidates, while 66% of those surveyed said online job boards don't provide a quality service to job seekers and employers.
In fact, Rafael Cosentino, Realmatch's Vice President, Business Development, told me that both job seekers and employers are dissatified. Cosentino says, "It's a very daunting task to ask someone to type a magic word into an empty search box; both employers and job seekers get stumped here. Not only do they get stumped, they often complain about the results they get. Weeding through unqualified listings or resumes is among the largest complaints by job seekers and employers."
Quality vs. Quantity
Another factor is hiring managers prefer fewer quality candiates than a large volume of applications from non-qualified candidates. When you're recruiting, less is better, if you can ensure that the pool of candidates meets your hiring needs. That's one reason that companies post on local sites like Craig's List - there's less exposure so you get fewer candidates, but more from the geographic area where you want to hire from.
Pay for Performance Job Postings
It's also a reason that employers are moving towards pay for performance sites like Realmatch. Employers post jobs for free, then view a graded and ranked list of pre-qualified candidates. They pay only to contact the candidates they are interested in. Again, there are less applicants, but more candidates that meet the hiring specifications for the job.
Keeping Up With Job Search Trends
Job search technology has changed significantly over the years. It has moved from job databases to job search engines that search the listings for you, to sites that match you with jobs like Realmatch, sites where you can network like LinkedIn and Facebook, and sites like RiseSmart that offer a concierge service (for a fee) that will screen jobs for you.
Job searching is getting more focused and targeted and that's a good thing for job seekers. Given the number of jobs posted online, even when there are less job postings than there used to be, new technology that helps you refine your searches and find jobs that are a strong match for your skills is a welcome addition to the mix.
It's important to stay on top of the trends in online job searching and adjust your job searching techniques accordingly. That's not easy to do, but it's definitely manageable. My weekly Job Search newsletter is a good way to stay informed about the resources that are available for job seekers.