When other industries are starting to think about winding down for Christmas, the recruitment marketplace is still seeing some exciting developments. With some major social players such as Facebook, Xing and LinkedIn seeing changes afoot, job boards and recruitment agencies partnering or seeing good amounts of growth. The industry has certainly switched on it’s Christmas lights early this year!
Social networking channels
Microsoft have finally started integrating into LinkedIn with the introduction of the profile card in Office Apps. Facebook have added a ‘work histories’ option to your profile, you can now create an online CV via the channel to use in your job searches. LinkedIn’s German competitor Xing has announced that revenue has increased by 24% in the first 9 months of 2017.
Not surprisingly, the 3 largest businesses; LinkedIn, SEEK and Recruit still control half of the job board market. With job boards seeing a 9% uplift in revenue in 2016.
Recruitment automation player, Mya, have been successful in raising capital in order to accelerate growth of its world-class AI team, open new offices in Europe to support its ever-growing global customer base, and expand its solution into new job categories say the company in a press release.
Randstad Holding, an Amsterdam based staffing agency who own Monster, have announced profits up by 9% in Q3 of 2017. Freelancer marketplace Comet, have been successful in raising £2million to expand into Europe and France.
So what does this really mean?
Recruitment, like any other business is becoming more and more reliant on AI and automation. In the next year or so we will see more and more recruiters and job boards utilising this side of technology. Job boards will continue to see a steady rise, as much as we like automation, we still like to connect with individuals personally. We will see more jostling in the social arena, with Microsoft integrating more of its features into LinkedIn and vice versa. But with high hitters such as Facebook and Google dipping their big toes into the recruitment pool Microsoft had better watch their backs. Exciting times ahead.
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