Brace for more consolidation in online HR space: Experts

An article in Economic Times talks about how more consolidation is expected in the online recruitment sector, with job portals losing market share to social media platforms like LinkedIn, Facebook and Twitter; along with inputs from Rituparna Chakraborty.
More consolidation is expected in the online recruitment sector, with job portals losing marketshare to social media platforms like LinkedIn, Facebook and Twitter, experts say.

The global job industry is rapidly transforming because of wide technological advances. Over the last couple of years, online job portals have lost a significant ground to social media platforms as a talent sourcing channel, according to HR experts.

“Lines of business are blurring and if one doesn’t keep pace with same, one has to face redundancy or consolidation,” staffing services company TeamLease Co-founder and Senior VP Rituparna Chakraborty said.

Referring to the recent Randstad-Monster deal, she said “To begin with, one should expect more such mergers to happen in this space.”

Going forward, innovations in the areas of building reach, engaging and keeping track of ‘passive users’ and how one runs background analytics are expected, HR experts say.

“There are three key elements to this business – Reach, Engage and Match,” Chakraborty said, adding “if we fail to evolve in any of these aspects, given the changing preference of individuals and employers and given the penetration of smartphones and usage, we would eventually lose our relevance.”