Monday, October 19, 2009

Monster Losing Ground to LinkedIn, CareerBuilder, and Twitter

Article Title: Monster Losing Ground to LinkedIn, CareerBuilder, and Twitter
Author Byline: Lorraine Russo
Author Website: http://undergroundjobnetwork.com

And this is surprising...why??

From BusinessWeek.com
...For Monster, a publicly traded online job site with $1 billion in sales and 80 million résumés on file, the growing appeal of LinkedIn to recruiters is just one more headache to contend with. Other social media sites, such as Facebook and Twitter, are also becoming popular destinations for employers. "

"Monster's...share of job listings... has declined from nearly 40% in December 2007 to 34% in May of this year.

Perhaps readers recall a post entitled What Do Job Boards And T-Rex Have In Common? In it, I not only make the case that, while an excellent job search tool in its heyday, Monster (and its competitors), have outlived their usefulness.

As a job seeker, it is VITAL that you have an online presence that IS NOT job board-related. In an era when every company is cutting costs, the big boards are no longer a cost-efficient way to recruit. To wit:
Corporate recruiter Elisa Bannon of US Cellular in Chicago used to spend up to $4 million a year to post jobs and screen resumes through the three heavyweights of online job search—Monster, CareerBuilder, and Yahoo! HotJobs.

But with her 2009 budget slashed to $1 million and 2,500 openings to fill, the wireless carrier's director of talent acquisition ditched the big job boards and instead inked a deal with social networking site LinkedIn. For an annual fee of $60,000, Bannon's team now has access to the network's 42 million members, many of whom are employed—the so-called passive candidates that recruiters covet.

Readers, establishing a profile on LinkedIn, Facebook, or Twitter is a fast (and free) process. If you haven't yet, hustle on over to each of these sites and sign up. Why? Because that's where the recruiters and hiring managers are hanging out. And, continuing to blindly send out resumes is not only a waste of time, it perpetuates the false sense that you are actually doing the right things to get a job.

Consider:
Two recent LinkedIn polls addressed the topic of using Social Sites for recruiting. One poll asked whether respondents plan to use social and professional sites more to recruit - 86% said Yes, 8% said No, and 5% said Unclear.

So, run, do not walk, away from the boards, and go to where the recruiters are. While you're at it, check out Verizon Wireless' Facebook page!

Article courtesy of the Recruiting Blogswap, a content exchange service sponsored by CollegeRecruiter.com, a leading site for college students looking for internships and recent graduates searching for entry level jobs and other career opportunities.

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