According to iReseach Consulting Group, the revenue of online recruitment market reached 9.12 billion Yuan in China in 2018, surging 31% compared with 2017. Since 2017, traditional online recruitment platforms have expanded business and their revenue has had steady growth. Newcomers with unique development mode breathe new life into the industry. Social recruitment and headhunters further meet diversified demand of users to promote the market development space.
The increasing revenue of online recruitment market can be attributed to the two reasons. On the one hand, the companies had rising demand for the core talents and produced more positions. On the other hand, top recruitment companies transferred to diversified development in human resources. They will provide more services such as evaluation and RPO for employers and then the average value of per employer will also increase. Therefore, revenue of online recruitment market rapidly grew in 2018
Online recruitment employers in China approximated 5.27 million Yuan in 2018, up 3.5% from the previous year. It’s estimated to break six million by 2020. However, its growth is expected to decelerate.
iResearch views that impacted by national policy, the revenue of companies in the industries represented by finance and real estate shrank and they reduced the cost of non-core business in 2018. In the context, their demand for ordinary employees decreased. Therefore, the growth of employers decelerated for the online recruitment sector. Meanwhile, the companies’ demand for core talents increased.
iResearch forecasts that for the favorable factors such as slash of taxes and administrative fees and recovery of credit growth comes in 2019, growth of online recruitment employers will rise. Meanwhile, online recruitment platform will ramp up efforts to develop diversified human resource services and manage to offer the services covering the whole human resources industry to meet the individual demand of employers. In that case, the number of employers will increase. Influenced by the uncertainty of future economic environment and other factors, the growth of employers will float slightly.