Overview Of Business Model
Unemployed people and employed people looking for a change in employment all over the world search for work each day and are using the Internet to do it. Businesses are searching for new employees on the Web as well, but the process is hit or miss. Online employment agencies can simplify this process. An online employment agency bridges the gap between the prospective work force and the employers who need access to it.
The primary service of this business is providing an outlet for people to send in their resumes or portfolios and simultaneously matching them with prospective employers that are seeking people with similar credentials. There are many online employment sites on the Web now, but the selection has to be more refined and organized by employment type and location. Your site should include resources for job seekers. The employment agencyâ€™s role is to understand the needs of its primary clientâ€”the employer.
Revenue can be generated in a number of ways from this type of site. You could charge individuals to submit their resumes. You could charge employers to post their employment opportunities. You could choose to allow posting of resumes and opportunities for free and generate revenue through banner advertising or selling ancillary services to employers or applicants. You could also run this business as an executive recruitment or placement service, where you publicize positions available and actually interview and recommend individuals to the employer.
To run this business you need basic Web publishing skills. It would help significantly if you have a history working with an employment agency and have experience with resume writing, interviewing, and the development of employment opportunity descriptions.
Cost To Start This Business
To start this business you need appropriate computer hardware, software, and a printer. You will incur design, development, and hosting costs related to your Web site. You will want to have a searchable database as part of your Web site and perhaps an automated, password-controlled, input area for job and resume postings. This will add to the development costs of your Web site. The costs to start this type of business online will range between $5,000 and $50,000 depending on the level of automation and the sophistication of your database.
Number Of Employees Needed To Start
To start this business you will need one or more experienced people, depending on the volume, the services you offer, and the level of automation.
There is limited international potential in this type of business.
Important Business Issues To Be Addressed
Have a solid business plan that clearly defines the service you will provide for your clients. If you provide recruitment and recommendation services, you will want to develop contracts or agreements that clearly spell out your fees, the services you will provide, and a payment schedule. Make sure to include plenty of useful resources and information on your site for job seekers (resume tips, links to resume sites, etc.).
Online Marketing Techniques
Marketing this business on the Web should prove to be somewhat easy because employment sites are sought after quite aggressively by job seekers. You are marketing to two separate groups, job seekers and prospective employers. The following steps should be taken to properly address your online marketing strategy:
- Ensure that your site is search engine friendly by including appropriate page titles, keyword meta-tags, description meta-tags, and so on, and then register with the major search engines and directories.
- Develop a comprehensive link strategy. The more links there are to your site, the more traffic you will see. You should generate links from related sites such as employment-related meta-indexes; resume writing services, business services, and secondary education sites.
- Submit articles to ezines that promote and give examples of the success rate of your services, and be sure to include testimonials from both employers and job seekers.
- Develop a targeted banner advertising campaign. Have your ads appear on sites that job seekers and employers frequent.
There are all kinds of opportunities for additional income with banner advertising, sponsorship, and the expansion of your services. If you decide to focus on one field of work, training and retraining could be added to your services. You could establish a weekly newsletter to all your job seekers with ad links to sites that want to market themselves to your target group. You could include resume writing and job description writing services to your offering. You could provide membership opportunities for employers, giving them an unlimited or a specific number of job postings.