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Diversification Trend in Indian Job Portal Industry

February 16, 2013 3 comments

In the rising era of social media, Indian recruitment industry – especially, job portals segment is going through a bit of struggling though an interesting period. Though the Indian numbers of Social Media penetration are much lesser (5% India Vs 60% USA), it has certainly made top job portals to take a notice of this trend and respond to it rather re-actively.

The traditional job portal industry in India is heavily dominated by Naukri.com (InfoEdge Ltd.) and MonsterIndia.com (Subsidiary of Monster.com). The other players like TimesJobs.com, Shine.com, Careerbuilder.com etc has been on the edge, struggling for their market share for a long time. Today corporate companies are looking at social media channels to lower their sourcing costs, increasing candidate engagement and enhancing employer brand. In fact, a professional networking site like LinkedIn has been keeping a strong pressure on job portals. The effect of this trend has been felt by job portals significantly in past couple of years. Naukri.com and Monster.com has been under pressure to increase their profit shares and market value in the current scenario. Both of these houses contributes to an overall INR 600 Crores (120 Million USD) turnover in between them.

This market trend has definitely led a paradigm shift in a way job portals are looking at their internal business model and diversifying their service stream. The days are gone when job portals were happy to maintain their candidate database and earn yearly service contracts. Today they can not simply depend on their traditional model and there is a greater need to diversify their service streams. Market is already witnessing some of the new equations that are being tested by many of these players. Here’s a run-down of some of the most notable diversifications: –

Naukri.com – Segmentation and Referrals Tool

Naukri is by far the biggest job portal in India with around INR 330 crores of yearly turnovers. Recently they have launched FirstNaukri.com and NaukriPremium.com as new services for the segmented and focused target audience. FirstNaukri.com – as name suggest is targeted for graduates. In this case, Naukri is offering assessment tools, on-boarding platform and employer branding options for employers. Similarly, they are also providing options like events employer-connect / engagement tools, contests and consulting for students. On the other hand, they have also targeted high-end segment of executive / leadership level candidates through NaukriPremium.com. This portal is a focuses on senior level candidates who are typically above INR 15 lakh CTC.

Interestingly, Naukri has also launched the Internal Referral Tool that is integrated to their job portals. This tool lets recruiters to open their Naukri jobs internally to employees and receive candidates. This move certainly suggests that Naukri is looking at a different segment of business. This may be a good option for small to medium enterprises that do not have in-house system for referrals. Nevertheless, this certainly raises the risk of exposing internal associates to Naukri and other related data security concerns.

MonsterIndia.com – Integrating Social and Segmentation

Monster’s BeKnown, the social media networking tool is around for past one year or so, but have not earned much success globally. They are now trying to integrate BeKnown in their job search results page to gain momentum. I recently learned that Monster has added Social Connections to their job listing which lets candidate to view who all in their BeKnown network works in that company. This feature is yet to release in India, but it certainly shows the path going ahead.

In addition to above, MonsterIndia has recently launched Monster College in their service offerings. Monster College connects colleges to recruiters. It offers to strengthen a relationship between college T&P officers with company HRs. They also have assessment tools for filtering candidates presented to HR.

Shine.com / MyParichay Partnership – Social Referrals Meets Job Portal

MyParichay is a Summit HR start-up is a social media employee referral tool in Indian market. It has announced a partnership with Shine.com to let recruiter shares their jobs on MyParichay through the network of company associates. This is an interesting development indeed as a “Job portal meets Social Media meets Employee Referrals” scenario. This partnership will definitely give a way to new equations in the industry if it creates a successful case-study.

Headhonchos – Senior Hiring Job Portal

One of the oldest and largest executive search company ABC Consultants Ltd has initiated HeadHonchos last year to build a new job portal that is targeted to senior / leadership / executive level candidates. Interestingly, they used “LinkedIn” in big way initially to promote HeadHonchos to lure candidates into their database. They work on the candidate-drive pricing model and provide premier level services to candidates from consulting perspective.

I am sure this is a start of new partnerships, relationships and diversification in until now a very traditional job portal market in India. Job portals are slowly, but surely acknowledging the entry of new-age social media and choose to work with them rather than competing.

LinkedIn is becoming one of the fastest growing recruitment solution providers in India. They now have a special “India pricing” to cater domestic needs. Recruitment organizations are definitely inclining towards their recruitment solutions which offer a unique combination of passive candidate search, job postings and employer branding. Job portal needs to continue driving towards diversification and being more “Socially-Connected” with their audience in order to sustain and grow. They need to realize that they can no longer just expect candidates to visit their portals, but rather they need to be proactively follow the candidates wherever they are :).

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