Staffing a business used to be a fairly straight forward process: a manager would receive a résumé, conduct an interview, and decide whether or not the candidate fit with the company. But as technology has advanced, the internet has begun to play a larger and larger role.
From places like Elance to SITE, online staffing sites have hundreds of thousands of job postings with hundreds of millions in revenue, covering all industries, skillsets, and experience levels. So, what does this mean for the industry as a whole?
It means that things are changing for the better, and there are benefits for both job seekers and employers.
Benefits for Job Seekers:
Job seekers can find a multitude of opportunities: from a project that may involve one or two assignments for supplemental income, to ongoing and long-term contract opportunities. And with the ability to search based on keywords related to their qualifications, job seekers can drastically cut down the time it takes to find relevant positions to apply to.
This changes the game dramatically. Rather than relying on a recruiter, job seekers have the power to take their search into their own hands.
Benefits for Employers:
For the employer, utilizing online tools allows them to automate many of the processes that previously needed to be completed manually. In other words, employers can use new tools to save money .
While taking the industry online doesn’t eliminate the need for recruiters, it does reduce both the effort needed to recruit and the money spent on recruiting. According to Forbes, recent data found that businesses around the world spend more than 3,300 per hire on recruiting alone, which is actually up six percent from previous years. This equates to the U.S. spending 72 billion on recruiting services per year, with the international numbers nearly three times that.
As the staffing industry continues to shift online, the need for companies to invest in technology will continue to rise. That’s where Crestmark can help. If you have a staffing company and are in need of capital to grow your business, give us a call today!