Recruiters are spending more on online media ($5.9 billion) than they are on print ($5.4 billion). These figures were reported in the 2007 Outlook: Online Recruitment Advertising report published by Borrell Associates last month.
Here are some quotes from the executive summary:
When the history of Internet advertising is written, recruitment sites will undoubtedly dominate the first chapter.
Online recruitment now accounts for 25% of Internet advertising revenue.
With so much activity, we expect recruitment advertising online to grow at a compound annual growth rate of 10.3 percent over the next five years, approaching $10 billion by 2011.
These statements are consistent with what The Conference Board has reported about the dramatic 17% rise during 2006 in online advertised job vacancies.
In just a few short years, the power of Internet technology combined with on demand best practices has made it possible for organizations of all sizes to achieve success by cutting advertising costs while improving business performance.
