Monday, January 31, 2011

Traditional Job sites threatened by social recruiting solutions

More and more articles are pitting social networking sites against job boards. They say social networking sites are doing to job boards what job boards did to newspapers in the area of recruiting.

Recent action in this space, coming thick and fast, only confirms this belief.

1. Monster CEO Sal Iannuzzi says, “Networking has always been a useful means of connecting people. And it should continue to be.”

2. CNBC asks "Is Social Media scaring Monster worldwide"

3. LinkedIn initiates the process for an IPO filing and its reports show that its biggest revenue stream comes from recruitment related services.

This augers well for companies such as JobVite, JobsByRef and SelectMinds, which are sitting on top of social and professional networks making it easy for companies to utilize the networks of existing employees to find great candidates.

Will sites such as these wipe out traditional job boards? Only time will tell, but the early indications are that it is bound to happen, sooner than we think!