New Delhi: Online job portals have not been around in India for very long. But posting a resume online has become the first step on a job hunt. Job portals are easy and inexpensive and are growing in popularity among job seekers and recruiters alike.
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Naukri.com, Timesjobs.com and Shine.com are among the prominent job portals in India. Around 85-90% of their revenue comes from corporate recruiting. With bulk hiring and recruitment budgets being slashed due to the economic slowdown, job portals have been adversely impacted. There is however a flip side. Many companies have laid off employees and the number of people looking for new jobs has increased.
Job portals are now shifting their focus from generating revenues from companies to designing products for job seekers. They now offer services like resume building, distribution and facilitating meetings with potential employers at an extra cost.
Timesjobs.com has seen a 30-40% increase in these services since October. “We are looking to increase the share of services offered to jon seekers since the market for those products is more buoyant at this time than the employer market,” says Vivek Madhukar vice president, Timesjobs.com.
Naukri.com, which depended on big IT players for 25-30% of its revenue, is now finding opportunities with small and medium enterprises.
“That sector is better off than other companies,” says Hitesh Oberoi, director and COO, Naukri.com.
Job portals are confident of generating revenue even in a slowing market because they believe that their services are significantly cheaper compared to recruiters and print advertisements.