Job-Search Platform Zhaopin.com's Introduction of Free Job Posts May Trigger Sector Chain Reaction
Guo Jinhui
DATE:  Jul 17 2017
/ SOURCE:  Yicai
Job-Search Platform Zhaopin.com's Introduction of Free Job Posts May Trigger Sector Chain Reaction Job-Search Platform Zhaopin.com's Introduction of Free Job Posts May Trigger Sector Chain Reaction

(Yicai Global) July 17-- China's major online recruitment service website, Zhaopin Ltd. [NYSE:ZPIN] recently outed a new plan to no longer charge employers fees to post vacancy notices on its platform.

This may spark a domino effect within the industry.

As the leading enterprise in the online recruitment industry, Zhaopin has abandoned the traditional mode and shifted instead to fees based on recruitment results.

Zhaopin has inaugurated its 'Enterprise Smart-Win Plan,' and no longer charges fees post-release fees from employers. All enterprises passing an evaluation can publish job vacancy information on Zhaopin's website for free.

This reconfiguration of online recruitment enterprise business model embodies changes in supply and demand relationships in the labor market in recent years. As the demographic dividend wanes and the ranks of job seekers decline, competition between employers for workers has become more savage. Online recruitment enterprises have had to transform their service mode from extensive recruitment to targeted recruitment.

Comprehensive recruitment platforms such as Zhaopin and 51Job.com have started extensively cooperating with enterprises to expand into new markets for targeted recruitment. The Enterprise Smart-Win Plan Zhaopin is promoting provides free posting of job notices and is a new initiative in online recruitment.

Compared with the traditional recruitment mode which focus on post advertising displays, the new product achieves targeted recommendations based on Big Data. Aiming at enterprise demand, it will introduce such new products as 'Guaranteed Interviews' and 'Directly-Booked Interviews' targeting recruiting effectiveness.

In the meantime, functions such as 'Refresh Vacancy' and 'Set at the Top' give vacancy notices greater exposure. The 'Chat' product offers an instant messaging service that lets human resources contact candidates at any time to boost recruiting efficiency.

From 2012 the annual increment of nationwide employed persons has been only one or two million, or nearly zero growth. The ranks of the employed between the ages of 15 to 59 have fallen since 2012, and have become cumulatively 20 million less in the recent five years, official government statistics show.

Zhaopin announced earlier this year it will go private, and the buyer will purchase all outstanding Zhaopin shares for cash. The transaction is expected to conclude in the second half year of this year. Zhaopin's American Depositary Receipt (ADR) will no longer be listed on the New York Stock Exchange after the transaction.

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Keywords:   Zhaopin,Online Hiring