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Online Recruitment Market Report Scope & Overview:

The Online Recruitment Market size was valued at USD 10.23 billion in 2022 and is expected to grow to USD 30.99 billion by 2030 and grow at a CAGR of 14.86% over the forecast period of 2023-2030.

Online Recruitment has become an increasingly popular method for companies to find and hire new employees. This process involves using various online platforms, such as job boards, social media, and company websites, to advertise job openings and attract potential candidates. One of the main advantages of online recruitment is its convenience. Employers can easily post job listings and receive applications from candidates all over the world, without the need for physical meetings or paperwork. This saves time and money and allows companies to reach a wider pool of talent. Online recruitment also has its challenges. With so many job postings available online, it can be difficult for companies to stand out and attract the right candidates. Additionally, the anonymity of online communication can make it harder to assess a candidate's personality and fit with the company culture.

Online Recruitment Market Revenue Analysis

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Market Dynamics

To overcome these challenges, companies can use various strategies to improve their online recruitment efforts. This includes creating compelling job descriptions, using targeted keywords to optimize search results, and leveraging social media to reach a wider audience. Additionally, companies can use online assessments and video interviews to get a better sense of a candidate's skills and personality. online recruitment is a powerful tool for companies looking to hire top talent. By understanding its benefits and challenges and implementing effective strategies, companies can improve their chances of finding the right candidates and building a strong team

Drivers

  • Increased emphasis on automation in the hiring process to aid market growth

With the advent of internet technology, the manner in which the online recruiting process is carried out has changed dramatically in recent years. A considerable change away from traditional techniques of recruiting services and towards more productive, cost-effective approaches is now a top priority for businesses and government organizations. Most businesses have shifted away from traditional recruitment methods and towards internet recruiting platforms (e-recruitment). Furthermore, potential job prospects become increasingly interested in searching for and applying for jobs on the Internet. Companies strive to build captivating, rich content, easy-to-use, and user-friendly recruitment on their platforms or through online job portals in order to produce the requisite pool of applicants.

Restrains

  • Increased Incidence of Online Fraudulent Applications to Hurt Growth

Companies and recruitment managers are finding it tough to hire particular personnel while weeding out unqualified individuals owing to the high quantity of online recruitment applications due to the availability of accessible internet access. Because not all online recruiting technology platforms provide extensive information, it might be difficult to establish what works and how to optimize marketing. To minimize needless applications, companies should be cautious when presenting job listings and be as specific as possible about the roles they are looking for and the abilities they require.

The majority of recruiting procedures are completed online with organizations that may not require tests. Interviews are typically conducted through Skype and phone, particularly for offshore businesses. In this instance, recruiting managers and recruiters cannot guarantee a person's professional ethics, particularly in certain cultures and settings. Many applications may be fake in order to get information about the company or the recruitment officer, and spammers may utilize online information to market a service to companies. When organizations include a considerable quantity of data for online job posting, hostile hackers may attempt to utilize the accessible knowledge to gain access to the organization's IT systems.

Opportunities

  • The expansion in job opportunities has boosted the demand for advanced recruiting platforms dramatically.

Challenges

  • Concern about the security and privacy of the data of candidates.

Impact of the Russia-Ukraine War

The ongoing conflict between Russia and Ukraine has had a significant impact on various industries, including the online recruitment market. This sector has experienced a range of challenges and opportunities as a result of the conflict.

One of the most significant impacts of the war has been the disruption of the labor market in Ukraine. Many skilled workers have left the country in search of better opportunities, leaving a shortage of talent in certain industries. This has created a challenge for online recruitment platforms that rely on a steady supply of qualified candidates. According to NBU data, just 23% of small and medium firms (SMEs) paid full salaries in May 2022, and this number is dropping with time. 21% of them do not pay salaries, while 12% lay off employees, and these figures have been rising since the conflict.

On the other hand, the conflict has also created new opportunities for online recruitment platforms. As companies in Ukraine struggle to find qualified candidates, they are increasingly turning to online recruitment platforms to fill their vacancies. This has led to an increase in demand for these services, particularly in industries such as IT and engineering. the conflict has also led to an increase in remote work opportunities. As companies in Ukraine look to expand their operations beyond the conflict zone, they are increasingly turning to remote workers to fill their vacancies. This has created new opportunities for online recruitment platforms that specialize in remote work. In conclusion, the Russia-Ukraine war has had a significant impact on the online recruitment market. While it has created challenges for the industry, it has also created new opportunities for growth and innovation.

Impact of Recession

A recession can have both positive and negative impacts on the online recruitment market. During a recession, there is typically a higher number of job seekers as companies downsize or freeze hiring. This can lead to a larger pool of candidates actively looking for employment, which benefits online recruitment platforms. These platforms can attract more users as job seekers turn to the internet to find opportunities. With more job seekers in the market, competition for available positions intensifies. Online recruitment platforms may experience an influx of applicants for each job opening, making it more challenging for individual candidates to stand out. As a result, job seekers may have to rely on online platforms to access a broader range of opportunities and improve their chances of securing a job. The types of jobs in demand may change during a recession. Some industries, such as travel, hospitality, and retail, may experience significant job losses, while others, like healthcare, technology, and essential services, may continue to hire. Online recruitment platforms need to adapt to these shifts by diversifying their job listings to match the changing demands of the job market. During a recession, companies often prioritize cost-cutting measures. They may opt for cost-effective recruitment methods, such as online platforms, to save on expenses compared to traditional hiring methods like print advertisements or recruitment agencies. This can be an opportunity for online recruitment platforms to demonstrate their value proposition and attract cost-conscious employers. 91 organizations lay off over 24,000 IT workers, indicating that worse days are ahead. According to data from Layoffs.fyi, over 1,000 enterprises fired off more than 1.5 lakh employees in 2022.

Key Market Segmentation

The Online Recruitment Market is segmented into three types on the basis of By job type, By Technology, and By application.

By Job Type

  • Secretarial or Clerical

  • Accounting and Financial

  • Computing

  • Technical and Engineering

  • Professional or Managerial

  • Medical

  • Hotel or Catering

  • Sales or Marketing

  • Other Industrial or Blue Collar

By Technology Type

  • Chatbot

  • Candidate Relationship Management Platform

  • Application Tracking System

  • Video Interviewing

By Application

  • Finance

  • Sales and Marketing

  • Engineering

  • IT

  • Others

Online Recruitment Market Segmentation Analysis

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Regional Analysis

North America dominated the online recruiting technology market, with high market share, and is expected to continue dominating in the following years. This is due to the increased usage of online recruiting technology solutions by SMEs and major companies. The online recruitment business has seen several developments in recent years, ranging from the adoption of social media recruiting to the introduction of mobile recruiting platforms, all with the goal of improving recruitment procedures for companies and employees in the area. Employers and recruiters in the region would be able to extend their recruiting-related administrative chores, such as answering inquiries, organizing interviews, and even doing early screenings for prospects, thanks to recruitment marketing technology and AI.  Advances in technology like artificial intelligence (AI), data mining, and others have given companies in the region additional support and boosted recruiting efficiency. Furthermore, the proliferation of smart media and sophisticated technologies, as well as the availability of high-speed internet connections, have created unprecedented potential for major stakeholders to provide evaluation tools and services to decide the best applicant for the post.

In recent years, Asia Pacific has experienced exponential growth, and unique aspects are influencing the ability to establish a successful recruitment strategy in those regions. Despite their rapid development rates, countries such as China, Japan, India, and even Australia are transitioning from agrarian to modern urban cultures. The challenge for organizations expanding in these locations is attracting the resources needed to sustain such a significant rise in the worldwide workforce. Talent acquisition and HR management solution providers in the region are expanding rapidly as organizations strive to automate recruiting procedures and keep up with technological advancements. In the regional analysis study of the regions of North America, Europe, Asia Pacific middle east, and Africa.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Key Players:

The major players in the market are SmartRecruiters, HireVue, Inc., Yello, BambooHR LLC, TalentLyft, flair.hr, Fountain, Recruitee.com, Avature, TestGorilla, Seek Limited, Guru.com, Monster Worldwide, Inc., CareerBuilder, LLC, ManpowerGroup Inc., Upwork Inc., and others in the final report.

HireVue Inc-Company Financial Analysis

Company Landscape Analysis

Recent development

  • January 2023 – Smart Recruiters introduced a new product with new features such as Zoom integration, Onboarding start date edit, and Interview Scheduler updates such as multi-day scheduling, multi-country posting, and remote work support, among others. This new product is critical in improving the experience of recruiting prospects.

  • Test Gorilla received USD 70 million in Series A investment in June 2022 to assist firms with talent-based recruiting processes and to reduce biased hiring. Since 2020, the firm has recruited around 5,300 new employees. Customers include Oracle, H&M, Bain & Company, Sony, the National Health Service of the United Kingdom, Revolut, PepsiCo, and others.

Online Recruitment Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 10.23 Bn
Market Size by 2030  US$ 30.99 Bn
CAGR   CAGR of 14.86% From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Job Type (Secretarial or Clerical, Accounting and Financial, Computing, Technical, and Engineering, Professional or Managerial, Medical, Hotel or Catering, Sales or Marketing, Other Industrial or Blue Collar)
• By Technology Type (Chatbot, Candidate Relationship Management Platform, Application Tracking System, Video Interviewing)
• By Application (Finance, Sales and Marketing, Engineering, IT, Others
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Smart Recruiters, HireVue, Inc., Yello, BambooHR LLC, TalentLyft, flair.hr, Fountain, Recruitee.com, Avature, TestGorilla, Seek Limited, Guru.com, Monster Worldwide, Inc., CareerBuilder, LLC, ManpowerGroup Inc., Upwork Inc.
Key Drivers • Increased emphasis on automation in the hiring process to aid market growth
Market Opportunities • The expansion in job opportunities has boosted the demand for advanced recruiting platforms dramatically.

 

Frequently Asked Questions

Ans:  30.99 is the expected value of the Online Recruitment Market in the forecast period of 2030 with a CAGR of 14.86%.

Ans: USD 10.23 billion in 2022 is the market share of the Online Recruitment Market.

Ans. The major players in the market are Smart Recruiters, HireVue, Inc., Yello, BambooHR LLC, TalentLyft, flair.hr, Fountain, Recruitee.com, Avature, TestGorilla, Seek Limited, Guru.com, Monster Worldwide, Inc., CareerBuilder, LLC, ManpowerGroup Inc., Upwork Inc., and others in the final report.

Ans: North America is the dominating region in Online Recruitment Market.

Ans. The forecast period for the Online Recruitment Market is 2023-2030.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Online Recruitment Market Segmentation, By Job Type
8.1 Secretarial or Clerical
8.2 Accounting and Financial
8.3 Computing
8.4 Technical and Engineering
8.5 Professional or Managerial
8.6 Medical
8.7 Hotel or Catering
8.8 Sales or Marketing
8.9 Other Industrial or Blue Collar

9. Online Recruitment Market Segmentation, By Technology Type
9.1 Chatbot
9.2 Candidate Relationship Management Platform
9.3 Application Tracking System
9.4 Video Interviewing

10. Online Recruitment Market Segmentation, By Application
10.1 Finance
10.2 Sales and Marketing
10.3 Engineering
10.4 IT
10.5 Others

11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Online Recruitment Market By Country
11.2.2North America Online Recruitment Market By Job Type
11.2.3 North America Online Recruitment Market By Technology Type
11.2.4 North America Online Recruitment Market By Application
11.2.5 USA
11.2.5.1 USA Online Recruitment Market By Job Type
11.2.5.2 USA Online Recruitment Market By Technology Type
11.2.5.3 USA Online Recruitment Market By Application
11.2.6 Canada
11.2.6.1 Canada Online Recruitment Market By Job Type
11.2.6.2 Canada Online Recruitment Market By Technology Type
11.2.6.3 Canada Online Recruitment Market By Application
11.2.7 Mexico
11.2.7.1 Mexico Online Recruitment Market By Job Type
11.2.7.2 Mexico Online Recruitment Market By Technology Type
11.2.7.3 Mexico Online Recruitment Market By Application
11.3 Europe
11.3.1 Europe Online Recruitment Market By Country
11.3.2 Europe Online Recruitment Market By Job Type
11.3.3 Europe Online Recruitment Market By Technology Type
11.3.4 Europe Online Recruitment Market By Application
11.3.5 Germany
11.3.5.1 Germany Online Recruitment Market By Job Type
11.3.5.2 Germany Online Recruitment Market By Technology Type
11.3.5.3 Germany Online Recruitment Market By Application
11.3.6 UK
11.3.6.1 UK Online Recruitment Market By Job Type
11.3.6.2 UK Online Recruitment Market By Technology Type
11.3.6.3 UK Online Recruitment Market By Application
11.3.7 France
11.3.7.1 France Online Recruitment Market By Job Type
11.3.7.2 France Online Recruitment Market By Technology Type
11.3.7.3 France Online Recruitment Market By Application
11.3.8 Italy
11.3.8.1 Italy Online Recruitment Market By Job Type
11.3.8.2 Italy Online Recruitment Market By Technology Type
11.3.8.3 Italy Online Recruitment Market By Application
11.3.9 Spain
11.3.9.1 Spain Online Recruitment Market By Job Type
11.3.9.2 Spain Online Recruitment Market By Technology Type
11.3.9.3 Spain Online Recruitment Market By Application
11.3.10 The Netherlands
11.3.10.1 Netherlands Online Recruitment Market By Job Type
11.3.10.2 Netherlands Online Recruitment Market By Technology Type
11.3.10.3 Netherlands Online Recruitment Market By Application
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Online Recruitment Market By Job Type
11.3.11.2 Rest of Europe Online Recruitment Market By Technology Type
11.3.11.3 Rest of Europe Online Recruitment Market By Application
11.4 Asia-Pacific
11.4.1 Asia Pacific Online Recruitment Market By Country
11.4.2 Asia Pacific Online Recruitment Market By Job Type
11.4.3 Asia Pacific Online Recruitment Market By Technology Type
11.4.4Asia Pacific Online Recruitment Market By Application
11.4.5 japan
11.4.5.1 Japan Online Recruitment Market By Job Type
11.4.5.2 Japan Online Recruitment Market By Technology Type
11.4.5.3 Japan Online Recruitment Market By Application
11.4.6South Korea
11.4.6.1 South Korea Online Recruitment Market By Job Type
11.4.6.2 South Korea Online Recruitment Market By Technology Type
11.4.6.3 South Korea Online Recruitment Market By Application
11.4.7 China
11.4.7.1 China Online Recruitment Market By Job Type
11.4.7.2 China Online Recruitment Market By Technology Type
11.4.7.3 China Online Recruitment Market By Application
11.4.8 India
11.4.8.1 India Online Recruitment Market By Job Type
11.4.8.2 India Online Recruitment Market By Technology Type
11.4.8.3 India Online Recruitment Market By Application
11.4.9 Australia
11.4.9.1 Australia Online Recruitment Market By Job Type
11.4.9.2 Australia Online Recruitment Market By Technology Type
11.4.9.3 Australia Online Recruitment Market By Application
11.4.10 Rest of Asia-Pacific
11.4.10.1 APAC Online Recruitment Market By Job Type
11.4.10.2 APAC Online Recruitment Market By Technology Type
11.4.10.3 APAC Online Recruitment Market By Application
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Online Recruitment Market By Country
11.5.2 The Middle East & Africa Online Recruitment Market By Job Type
11.5.3 The Middle East & Africa Online Recruitment Market By Technology Type
11.5.4The Middle East & Africa Online Recruitment Market By Application
11.5.5 Israel
11.5.5.1 Israel Online Recruitment Market By Job Type
11.5.5.2 Israel Online Recruitment Market By Technology Type
11.5.5.3 Israel Online Recruitment Market By Application
11.5.6 UAE
11.5.6.1 UAE Online Recruitment Market By Job Type
11.5.6.2 UAE Online Recruitment Market By Technology Type
11.5.6.3 UAE Online Recruitment Market By Application
11.5.7South Africa
11.5.7.1 South Africa Online Recruitment Market By Job Type
11.5.7.2 South Africa Online Recruitment Market By Technology Type
11.5.7.3 South Africa Online Recruitment Market By Application
11.5.8 Rest of Middle East & Africa
11.5.8.1 Rest of Middle East & Asia Online Recruitment Market By Job Type
11.5.8.2 Rest of Middle East & Asia Online Recruitment Market By Technology Type
11.5.8.3 Rest of Middle East & Asia Online Recruitment Market By Application
11.6 Latin America
11.6.1 Latin America Online Recruitment Market By Country
11.6.2 Latin America Online Recruitment Market By Job Type
11.6.3 Latin America Online Recruitment Market By Technology Type
11.6.4 Latin America Online Recruitment Market By Application
11.6.5 brazil
11.6.5.1 Brazil Online Recruitment Market By Job Type
11.6.5.2 Brazil Africa Online Recruitment Market By Technology Type
11.6.5.3Brazil Online Recruitment Market By Application
11.6.6 Argentina
11.6.6.1 Argentina Online Recruitment Market By Job Type
11.6.6.2 Argentina Online Recruitment Market By Technology Type
11.6.6.3 Argentina Online Recruitment Market By Application
11.6.7 Rest of Latin America
11.6.7.1 Rest of Latin America Online Recruitment Market By Job Type
11.6.7.2 Rest of Latin America Online Recruitment Market By Technology Type
11.6.7.3 Rest of Latin America Online Recruitment Market By Application

12 Company Profile
12.1 SmartRecruiters.
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 HireVue, Inc.
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Yello.
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 BambooHR LLC.
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 TalentLyft.
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 flair.hr.
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Fountain.
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Recruitee.com.
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Avature.
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Seek Limited.
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View

13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments

14. USE Cases and Best Practices

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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