Surprisingly only now has the number of job listings online in New Zealand overtaken the number of job listings in newspapers – thanks to the launch of Trade Me Jobs.
For now the entry of online players has increased the size of the market, but that downward slope of newspaper classifieds must have Fairfax and APN worried. They have of course already entered the online market through APN’s search4jobs and Fairfax’s acquisition of Trade Me, and the launch of Trade Me Jobs. However the revenue from those big display advertisements in the newspapers is huge, and it is at risk if people no longer see newspapers as a place to look for jobs.
The reason newspapers have survived so long is that they are seen as great for attracting the passive searchers. Passive searchers are valued more highly than active searchers, as they are more likely to be in a job which they enjoy and see no reason to leave. Their active counterparts are demonstrating that they are less happy where they are, and are therefore more likely to be less valued.
Headhunters are the best, yet most expensive, way to capture passive job (non-)searchers, newspapers have, until now, been seen as next best. Expect that to change.
I see the end game with mid and low market jobs online almost solely, higher end jobs using a variety of marketing, including newspapers, and executive jobs using newspapers and headhunting. For casual day jobs the jury is still out, but this is something that fits online.