One of the method that is increasingly being used is through Internet Ads which are hailed as one of the most cost effective and the by far the most effective form of recruitment. Latest market surveys reveal that almost 95% of the U.S. employees are recruiting candidates through the online mode. Companies will le investing close to half a million dollars with the next few years in creating and upgrading their own websites and posting positions with job search services. This is because online recruitment comparatively involves less cost and is easier to manage than print and the turnover time could be almost immediate. Statistics reveal that there are 30,000 job boards throughout the world and 2.5 million resumes online which corroborates the fact that online recruitment will be the frontrunner in this century as the primary mode of choice for job-searching. (Falcone, 2001)
It is important the World Wide Web, the different Usenet site and the website of the companies should not be the sole outreach efforts that will be undertaken. Instead companies are increasingly integrating the web into their overall recruitment strategies. Among the modes companies utilize these different forms of recruitment to their advantage are posting job opening on Usenet groups. Usenet groups are listings, by date, of hundreds or even thousands of comments on a specific topic. Usenet is a diverse, worldwide discussion forum which is divided into several thousand newsgroups where participants are free to add their comments on the subject by e-mailing their resumes. The most interesting part is that Usenet sites are free, easy to use and several commercial online ad services include Usenet postings in their package. Large companies maintain their job listing in their own corporate website with an appropriate link and hence they justify the investments associated with transforming a corporate web site into a recruitment portal. Fortune 500 companies with easily recognizable names attract web-traffic due to their brand names that are immensely successful in online recruitment. (Falcone, 2001)
According to a study, respondents who were asked to list three businesses with the best recruitment section which they had either visited or used, named Goldman Sachs (www.goldmansachs.com) McKinsey and Company (www.mckinsey.com), the Boston Consulting Group (www.bcg.com), PriceWaterhouse Coopers (www.pricewaterhousecoopers.com) and Microsoft (www.microsoft.com) the most latest paradigm of online recruitment concentrates on employment branding which implies how a company distinguishes itself from its peers. Companies with properly managed websites have easily recognizable and attractive recruitment image or brand leads in online recruitment. Almost 75% of the Fortune 500 companies have their own websites with active and passive job seekers which are growing fast. Besides, more than a million corporate website exists in the World Wide Web which continues to post jobs regularly. (Falcone, 2001)
The various online recruitment methods that are used are (i) businesses register their website address with Internet Search Engines like Google, Yahoo, MSN which guide users to their own sites on the basis of user's 'search' regarding employment opportunities which continues to be a free service. (ii) Hypertexts 'links' are also placed that leads directly to the company's web server from other Internet Services, thus letting viewers to jump from a particular site to another with the click of a button. (jjj) Companies also run banner ads on other websites, inclusive of Chat rooms which can also direct the link to their sites from these link sites. The scenario is fast transforming into a totally new paradigm where professionally qualified prospective job seekers already in a job and looking for change no longer look for keyword-based searches like "employment," "job opening" or "career opportunity" on the Internet. Instead they become part of virtual communities where people having similar interests hang around to talk shop or improve their skills. (Falcone, 2001)
The growing popularity of online recruitment can be ascribed to the student's community's proximity to this form of recruitment compared to other recruitment sources. Their growing years has been associated with Computers and is habituated to seek a broad spectrum of information on the Internet. Moreover, surveys reveal that online recruitment might be especially effective when companies are seeking applicants in information technology or when companies possess a marked goodwill in the marketplace. Companies increasingly adopt online systems as they consider it to have greater potential in coming across individuals with unique sets of talents and proficiencies than conventional recruitment. This is because online recruitment let businesses to lay a wider umbrella labor market and thus may have increased likelihood to target qualitatively better candidates compared to other sources. Also the volume of applicants is quite large...
This researcher rejects the existence of online communities because computer mediated group discussions cannot possibly meet this definition. Weinreich's view is that anyone with even a basic knowledge of sociology understands that information exchange in no way constitutes a community. For a cyber-place with an associated computer mediated group to be labeled as a virtual settlement it is necessary for it to meet a minimum set of conditions. These are:
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And this money is required to be raised from the market as the company does not generate this amount of revenue either from profits or from internal accruals. (DeHayes, 2003) 5. What should Tim do now? After taking into account all the known and understood pros and cons, there are some points on which Tim has to take action. These are (i) the manner in which to raise capital needed either
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