Introduction
Internet penetration in the labor market has been on a gradual rise in the past decade. The power of the internet considerably transforms the processes of job searches and applications. The internet also improves communication networks between employers and potential employees in addition to enhancing the capacity for sound hiring decisions. This paper looks at the advantages offered by the online job market over traditional job markets.
Advantages of Online Job Markets
Though there are various systems that can be used in internet job search and recruitment processes, the core of the online job market comprises corporate career web pages and job boards. Online job markets present a number of advantages over traditional job search and recruitment techniques. The traditional recruitment techniques involve individual referrals, newspaper advertisements, direct contact with employers, job fairs, and employment offices.
First, the internet provides access to important information on numerous job openings and in many more locations than can be accessed through traditional means.
Through the internet, companies can reach a large number of job seekers. This vast pool of potential employees enables employers to select the best candidates. Traditional models, on the other hand, are limited by geography, industry and career levels. The databases available in online recruitment portals contain up-to-date information that embraces all career types and geographical boundaries.
Secondly, the web enables employers and job seekers to revise job advertisements and résumés more regularly than can be performed under traditional models. Companies work hard to ensure that career information on their websites is updated regularly to match their target employees and company objectives. Job seekers can also update their résumés to fit the jobs they seek and the companies advertising for the jobs.
Thirdly, the majority of job boards and company career websites provide relatively enhanced user-friendly experiences compared to the traditional job markets. On the internet, job seekers can surf through many relevant vacancies by indicating their preferred job locations, wage levels, work experience, and educational levels.
This filtering service enables job seekers to identify relevant job openings efficiently. Employers can also use their vacancy adverts to brand their companies or to market company values to their target employees. The internet offers employers a chance to acquire highly skilled labor force since online coverage is broad.
The other advantage offered by online job markets concerns the job application process. The job boards offer a platform where job seekers can upload their résumés and cover letters, which are used to fill vacant positions.
The benefit of managing the recruitment process from a central place is the capacity to post new openings, receive résumés, process applications, and contact applicants collectively or selectively. Unlike in the traditional model, online job recruitment enables companies to track all recruitment activities. Applicants can also follow the advancement of their applications at all stages of the recruitment process.
Lastly, online recruitment is considerably cheaper for companies and job seekers than the traditional models. For instance, posting a job advertisement in a newspaper is more expensive than advertising over the internet. In addition, online recruitment websites charge considerably lower fees than what most traditional recruitment firms charge. The internet also offers reduced cost of processing many job applications through the use of electronic applications.
Conclusion
Technology permeates all levels of personal lives and the way businesses are conducted. Recruitment of employees is certainly cheaper and more effective using the internet than the traditional modes of recruitment. Therefore, companies ought to tap into the power of the internet not only to reduce costs, but also to find the best applicants.