The Interactive Advertising Bur-eau's latest figures show that more than 53m was spent on online recruitment advertising in the first half of 2004.
If a similar level of spending is achieved during the second half of the year, a total annual spend of 107m would mean that the internet will have accounted for roughly 10 per cent of all recruitment advertising.
Developments in technology and a maturing online recruitment market mean that this 10 per cent share will increase in the future, and the internet will have an even greater impact on traditional recruitment techniques.
Impact of broadband
First, the increased uptake of broadband among internet users means that online jobseekers will surf for longer and have more engaging interactions with employers online.
Communications regulator Ofcom currently estimates that a third of all UK internet users access the internet through broadband, and it reported that the average monthly price of a high-speed connection fell from 45 in 2002 to 22 last year.
If this price reduction continues – and there is no reason to suggest that it won't – then broadband will shortly become the most popular way of connecting to the internet.
The faster connection speeds offered by broadband will allow employers to communicate more effectively with candidates.
Corporate recruitment website features that are now regarded as advanced – such as employee video profiles, virtual office tours, online presentations and interactive tests – will become standard.
Employers will be faced with the challenge of how to best use these interactive features to communicate employer brands and engage and educate candidates before their competitors do.
Speakers at the 'Online Recruitment – the Next 10 Years' event in London last month, organised by Enhance Media, also focused on the changing nature of suppliers within the recruitment industry.
For example, when online recruitment began in 1995, the Guardian newspaper offered advertisers the chance to place recruitment advertisements within the newspaper's different recruitment sections.
Ten years later, the paper has rebranded its offering as 'Guardian Recruitment Solutions'.
It provides recruiters with an expanded range of options from print recruitment advertising to online advertising, and even offers to design, build and host careers sites.