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ERNIE, please use the form on the
linked page. It looks like the "SALE" signs are hanging everywhere. From our
perspective, almost all of the major properties in the online employment
arena are up for grabs. The obvious exceptions are either public companies
or those teams lucky enough to have the endless deep pockets of a
newspaper behind their endeavors.
It's a tricky time for little companies that want to become big ones.
Led by Webhire's astonishing stock price declines (and concurrent rumors
of a stock consolidation so that they can stay listed), the battle for
market share over the past years has led to solid growth and cash flow
problems. As we've been saying for years now, Electronic Recruiting is not
cheaper. It's faster, perhaps. It's more expensive, for sure. Its real
strength lies in the ability to communicate with potential employees over
time.
Prices are going to rise.
We've never been huge fans of the high stakes investment game that
leads to dreams of riches being prioritized over customer satisfaction.
It's more than uncomfortable to be an HR manager whose decision to invest
corporate resources, time and energy is at risk because a vendor's
management team couldn't restrain their spending.
With the sale price for an online employment service hovering at all
time lows, we're seeing market pressures reward market sensitive behavior
while it punishes arrogance. CareerCast, our long term favorite, is busy
picking up accounts and alliances derived from the silliness.
So, how did we get here?
By leaps and bounds, the fault lies in the myth of technology. While
this company and that race to add new features to their "platforms", they
don't seem to be checking with customers. "Does the current system work?"
and "are you happy with it?" might be appropriate places to check.
Instead, the fat technical teams are seen as the path to the future. We
continue to assert the notion that this business is about people and
communications, not technology. The overemphasis on technology comes, we
think, from investors who don't understand the service economy.
So, if you want to buy a job board, advertising agency or employment
service, this is the time. They're going cheap for President's Day.
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