Online recruitment, veterans will not die

Since the end of last year, investment in online recruiting has not been broken. In April this year, the high-end headhunting website "Hunting Net" obtained by the investment of Warburg Pincus, Jingwei China with the cast of the C round of 70 million U.S. dollars financing; meanwhile, the vertical recruiting website "Pull up the net" also was reported to complete a round 5 million dollar investment, the pull hook in August again obtains the 25 million US dollar the B round financing; the same is the Internet, It recruitment site "where to work" to confirm the acquisition of Wanghuai, Philip Su, Zhu Huaming three angel investment; focus on the programmer recruitment of the internal push network also last year to get the innovation workshop 2.5 million Yuan Angel investment ...

Generally speaking, if an area is favored by investors, it is often because (1) the existing old model will be subverted (2) the market has the potential to enlarge. For many people, the former is more of an online job, and the founder of the net, Xu said in an open sharing,

Worry, Zhaopin has been using the monster model in the United States has been dying, worry, Zhaopin in the past decade, the basic no progress, and even many not very high-end users have become headhunting users.

Indeed, a closer look at worry's recent earnings shows that worry's revenue structure has not changed much over the past year. In the operation of the strategy is still the traditional recruitment site sales + advertising-oriented. Ignoring the benefits of increased demand for the Internet and domestic talent, the company has been clinging to a pattern that has not changed for the past 10 years in the last 12 months. Zhaopin's reports are similar, but spending increases include "growth in business development spending and rental costs."

But earnings also have data that cannot be ignored. Zhaopin's earnings show that Zhaopin total revenue of 293.5 million yuan, an increase of 22.6%, over Wall Street analysts expected, worry's report, the third quarter total revenue of 474 million yuan, an increase of 13%. Growth rate is higher than the HR industry average; the Chinese market's demographic dividend can not be ignored, the first-tier cities outside the three or four-line city talent gap is emerging with the entry of enterprises. According to Zhaopin's 2014 third quarter employment confidence index, demand for three or four-line cities grew 29% per cent year-on-year, well above the national average of 23%.

So will the Big brother, who is being sung in the country, not repeat the monster? This seems to be an unsettled question.

Looking back on the past, the three major domestic recruitment sites are to monster mode of learning, the past has really worked. However, over time, the market for efficiency and accuracy of higher requirements, the monster model of a huge amount of resumes to smash the model of the company can not meet these needs. In its heyday, monster shares had fallen 88% per cent, with a similar income to LinkedIn, but a market capitalisation of just 600 million dollars, 30 times times the 18 billion-dollar LinkedIn. November 4 After the release of Q3 's earnings, the share price fell nearly 40%, under the continuous loss, the CEO Sal Iannuzzi also sadly off the field.

In the new situation to replace Monster as a global recruitment hot spot, is listed in the Japanese recruitment enterprises recruit. Recruit last year's annual revenue of 1.2 trillion yen (about 10.96 billion U.S. dollars), the pre-tax profit rate of 15.2%, operating profit is greater than the world's top three of the company's operating profit combined. Recruit was listed on the Tokyo Stock Exchange in October this year, with a market value of $18 billion, similar to LinkedIn. Recruit is also worry's largest shareholder, holding more than 40% per cent of the shares.

The key point of recruit success is to use the data in hand to improve the efficiency of both the job seeker and the recruiting enterprise, so as to achieve exact match.

How did recruit do it?

Job Seeker: Recruit not only provides basic job search, but also provides career counseling services to job seekers at different stages. Job seekers can also get online vocational education from recruit and get a chance to be discovered by a recruiter by constantly updating resumes.

Enterprise: Recruit provides the basic human resource services such as recruitment advertisement, temporary job recruitment and so on. If the enterprise needs, recruit can also provide enterprise human resources consulting, staff placement personnel outsourcing, organizational training and development and other in-depth services.

At the same time contact the job seekers and enterprises, so that recruit data more real and effective. In this model, the accuracy and quantity of the data are monster a resume no way, many Japanese job seekers have been using recruit services, post postings, career paths, and online educational records on recruit platforms since graduation. With the feedback of the data, recruit can understand the whole market environment more clearly, provide consultancy service for job seekers and enterprises, and form a positive cycle.

In general, recruit at the same time deeply understand the situation of bilateral customers, on this basis to provide in-depth services, changed the past monster a basket of resumes trading business model. From the Recruit 2014 Q2 's earnings, recruit's HR business accounted for 73% of the overall business, including 22% of human resource information, 36% of the HR outsourcing service, and 17% per cent profit margin.

But the fact that this new model is recruit is not a start-up, a company founded in the 60 's, or worry's biggest shareholder. During the period experienced than now worry, Zhaopin still difficult situation.

Recruit set up a campus recruitment advertising agency started. Catching up with the rapid development of Japan's economy in the 80 's, recruit's human resources business has soared. Recruit's business model now looks equally familiar, providing job seekers with a magazine for recruiting information, learning about readers through magazines, and providing HR-related counseling and training services to businesses. Halfway recruit also lost a long time, in the late 80, because of the political bribery scandal recruit reputation plummeted, the founder of the prison, when the Prime Minister Noboru Takeshita also resigned, recruit also be super business Dabei acquisition.

After independence in 2000, recruit began dabbling in Internet-related online recruiting services, becoming Japan's online recruiting giant. Then gradually expand the business to Hong Kong, Taipei, Singapore and other fields. Since 2005, the company has been providing advisory services based on online data. 2006 shares worry, 10 acquisition of headhunting company Bole, 12 launched for the new students recruitment Navi,rikunabi Direct, The same year wholly-owned acquisition of the U.S. online recruitment website indeed.com for the entire group of HR services to provide a strong algorithm and model support.

In the case of recruit, veterans have more data and resources in the entire human resources service industry, and if they want to, they can do a lot of things to effectively integrate the industry chain. Monster's failure is more a matter of leadership management, Monster, former CEO Sal Iannuzzi, in an interview with the Wall Street Journal, admits

In Monster's business, I used to look at the profits too heavily, only to consider the benefits of equity investors.

So who is more likely to make a recruit model in China?

In China, companies like Zhaopin and worry may be more comfortable doing these things. At present, the active market and the external shocks are Zhaopin, worry learn from recruit experience, and promote the internal transformation of the good time.

From the source of the data, worry and Zhaopin in the internet outside the other vertical areas have a good accumulation, they have a large number of long-term cooperative users and the accumulation of years of primary research industry, business needs data, in the fresh resources, worry and Zhaopin in the domestic campus recruitment market has a very high penetration rate, Can obtain the job seeker from the career beginning stage to have the characteristic, the hobby point, the job-hopping probability, the development potential and so on information.

LinkedIn is already using large data in the form of recruiting services, and companies through the LinkedIn platform can search for a large number of "passive job seekers" who meet the requirements but have yet to change their jobs, and a higher rate of immediate CV updates is a competitive advantage for LinkedIn users. But LinkedIn's short board is in China soon, and the main users are still in the Internet-related industries.

In this year's hot internet recruitment industry, several startups have greatly simplified the sources of information from the source, but the increase in accuracy is actually sacrificing data from fresh graduates and other vertical industries. Whether Lahan or where to work, they all said to 36 Krypton, hoping to avoid a fresh influx of the situation.

From the application of data, large recruiting websites have the ability to quickly extend the consultancy services with data support to a wider range. In the industry, in addition to the Internet vertical recruitment, the current online recruitment services in other industries or mainly by the worry and Zhaopin master, they have the energy in a number of vertical industry within the synchronized advance. Geographically, high-end job communities such as vertical recruiting and LinkedIn have almost no permeability to coastal three or four-line cities, Midwest cities, and worry have congenital advantages.

Zhaopin has begun to try to transform, they line the "Zhuo" such products, for students, white-collar, high-end people and other people to provide online, offline assessment, network recruitment, education and other services.

Of course, worry, Zhaopin is not a complete shoo-in. LinkedIn has been one step ahead of big data applications in online recruiting, Lahan, where to go to work and push these new companies have excellent algorithms and technology. For example, 36 of Krypton reported that they have developed an intelligent resume delivery system that actively helps users with their resumes. Of course, they also have the advantage of a new company--a quicker reaction to the market.

Whether it's the end of the intellectual Union, the future, or the coming LinkedIn, or the growing Lahan, the hunt for recruit, is a big step forward for the entire online recruiting industry, where the value of the online recruiting industry turns to maximizing the use of resources in the hands of users rather than just thinking about making money.

Zhi, the future although hand in hand with heavy and deep customer resources, every guest and the story of aging tells us that the courage of internal reform is no less than once again entrepreneurial. With companies like Zhi and prospects, especially in the face of the revenue that now looks good, there needs to be a firmer determination to reform and innovate.