Indians hopping onto Internet for job search
Of all the business models that Indian startups paint, disintermediation is the only one that seems to have worked/is working in India.
Be it the job market or marriage market, Indians have embraced Internet for meeting their basic needs (i.e. job search, marriage etc) rather than social networking that we are made to believe!
As per the recent survey conducted by Kelly Services Global Workforce Survey, online recruitment has eclipsed all other recruitment channels including direct approaches, newspaper advertising and even ‘word of mouth’.
Though the India sample size (only 3000 respondents) is too small to be termed representative for the industry, nevertheless here are some interesting stats:
- 40% of those surveyed in India found their most recent job on-line ,
- 22% found a job being directly approached by an employer or recruiter,
- 13% via ‘word of mouth’ ,
- 9% from a newspaper advertisement,
- 8% from directly approaching an employer and
- 8% through ‘other’ methods.
As far as attrition is concerned, BPOs top the chart with ~30-40% attrition rate, while IT companies are facing around ~18% attrition [July 2007 figures, source]
The online recruitment industry is slated for some bigtime innovation and come April, you will witness few kickass startups and ideas in this domain (I know of two startups working on cool ideas).
Till then..hop on!
Related: Naukri and Shaadi.com leads the way in online classifieds industry | Part-time MBA vs. Full-time MBA? | Breaking workplace myths – Will I be happier if I’ve a job I like?
Interestingly, TCS is paring wage cut (taking back the variable pay which was given in advance), since it couldn’t meet the EVA (economic value add) guidelines.
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Related posts:
- Internet advertising to beat magazine advertising?
- What are Indians searching for in the Internet?
- Online advertising in India: Word of Mouth works better than search engine advertising!
- Mid-week Internet Buzz: Naukri gets a makeover, Matrimony search is hot..and more
- What did Indians search in 2007? Google Zeitgeist says Orkut!
About the author - Ashish Sinha is a Startup Mentor/Product Strategy Coach, and the founder/chief editor of pluGGd.in.
He has launched/managed couple of products (consumer as well as enterprise) in US and India, and now consults with startups/small businesses on their product/media strategy. He can be reached at: ashish (at) pluGGd.in [+91 98452 06443]
