Tony Lee: careers.wsj.com

Michael Boyle: Recruiter Toolbox

Mark Mehler: CareerXroads.com

Corrections or additions?

This article by Barbara Fox was published in U.S. 1 Newspaper on

October 13, 1999. All rights reserved.

National Business Employment Weekly Closes

Cyber experts have been saying it would happen, and

now it has. A major national print newspaper has been replaced by

a website. The final edition for National Business Employment Weekly

(NBEW), a 20-year-old Dow Jones publication, will be dated October

28. But another Dow Jones employment website, http://www.careers.wsj.com,

has stayed alive and well, thank you.

Along with the New York Times and Star Ledger classified sections,

the NBEW is so popular at the Princeton Public Library that, to keep

it safe from theft, it is sequestered at the reference desk. Each

48 or 52-page edition of the NBEW includes a half-dozen articles on

job hunting, but what the jobseekers are looking for are the pages

and pages of ads. Yet the circulation of this $3.95 tabloid had dropped

from a high of 30,000 to 19,000. It made money until this year, and

this year it is only breaking even.

With all the costs associated with print publishing, combined with

the efficiency of online databases, print classifieds may be an endangered

species. "We think the better opportunity in this business, going

forward, is on the Web," says Richard Tofel, Dow Jones spokesperson.

"It became clear that the Weekly wouldn’t make money next year.

So we are putting our efforts into careers.wsj.com. That seems to

us where a lot of the advertising is going."

Still, all print newspapers aren’t sinking ships — not yet. It’s

just that the niche for NBEW, employment advertising, is particularly

suited to the Web, and jobseekers are going on the Web in droves.

Top Of Page
Tony Lee: careers.wsj.com

"Remember that the Weekly was launched as a place to find the

classified ads from all the regional editions of the Journal and with

the Internet you don’t need to do that in print any longer," says

Tony Lee, the paper’s former editor. A graduate of Regency University

in Denver, Class of 1981, Lee has a master’s in journalism from Northwestern.

He was on the team that launched the careers.wsj.com site two years

ago, and he is now in charge. Last month the site had 350,000 unique

visitors and posted more than 30,000 jobs.

The NBEW depended on freelance contributions for its articles and

also had a nine-person staff; at least half of them are expected to

find jobs within Dow Jones. The careers.wsj.com site, with five editorial

staffers plus sales staff, has been using articles from the NBEW but

will now commission its own articles, including some from freelancers,

says Lee.

The site’s most extensive job listings are in finance, insurance,

real estate, banking and securities, followed by consulting and manufacturing.

Lee mentions the areas of healthcare, nonprofits, and publishing as

also having healthy listings. "JP Morgan started with us six weeks

ago and has filled 15 positions, and Hewlett Packard averages 1,000

responses a month," says Lee.

Top Of Page
Michael Boyle: Recruiter Toolbox

"Cyber-posting is much more efficient for employers. It offers

better quality candidates, faster times to hire, and much lower overall

recruitment costs," says Michael Boyle of Recruiter Toolbox (http://www.recruitertoolbox.com).

His firm, based in LaGrange, Illinois, helps corporations post jobs

to appropriate web sites. But, as he points out, online recruiting

has created so much access for jobseekers that employers are getting

too many resumes from far flung places. "It is probably not going

to be worth the investment to relocate someone from overseas,"

says Boyle. "We find better quality hires at niche sites."

The number of websites for jobseekers has grown dramatically, agrees

Mark Mehler, co-author of a book and a website (http://www.careerXroads.com)

that rank orders job sites. "For the 1996 edition we had trouble

finding 300 sites. Now we look at 3,000 sites to pick the 500 best.

But each jobseeker has to find a niche, because the Web is just too

large."

Top Of Page
Mark Mehler: CareerXroads.com

Compared to such rivals as the http://www.Monster.com, http:/wwww.CareerPath.com, http://www.CareerMosaic.com

and http://www.LeadersOnline.com, the Dow Jones site is indeed a niche site because

it represents a higher demographic; its average searcher is a 40-year-old

middle to senior level executive earning $80,000. Surveys show these

searchers prefer specific articles tied to an industry or function

rather than general jobhunting tips, such as how to write a resume.

"Tony Lee wants to be king of the niche, and he is succeeding,"

says Mehler.

Mehler points to two Dow Jones web-based partnerships that make both

recruiting and job hunting exponentially easier. Executives who are

passive job seekers (they aren’t looking for another job but might

take one if it were interesting) can sign on to FutureStep, a partnership

with Korn/Ferry International that automates executive search. If

an executive spends 45 minutes to fill out online forms, and if Korn/Ferry

gets assignments matching those interests, it E-mails the candidate

— all in utmost secrecy.

Dow Jones has also bought 40 percent of http://www.CareerCast.com. Mehler reports

that CareerCast can, for about $1,500 per month, seamlessly transfer

job postings on a corporate homepage to a job seekers’ sites, so that

human resources clerks don’t have to constantly be updating new submissions.

Major employers using this service range from AlliedSignal and Amazon.com

to Visa and PA Consultants.

But any entrepreneur can go to the careers.wsj.com site and, using

a credit card, post a job for 30 days for $250, or 60 days for $350.

Job seekers can search the listings by job title, by state, or by

company. A more popular option for big companies is to post an unlimited

number of jobs on the website for $1,800 a month. A third alternative

is to run an ad in the print Wall Street Journal — which could

be as low as several hundred dollars for six lines in a small local

market — and for a little extra that ad goes online.

Have any similar publications bitten the dust? Only one that Mehler

knows about, and that was a lead generation publication for human

resource departments. It no longer exists in print but is alive and

well at http://www.HRReport.com.

And, at a consortium of major dailies (http://www.careerpath.com),

the business model radically changed from where it was 18 months ago.

Now jobs can be posted only on the Web, without running in any print

newspaper. Says Boyle of Reporter Toolbox: "They were watching

their share of the business decline."

— Barbara Fox

National Business Employment Weekly, Route 1 and

Ridge Road, Dow Jones & Co., Princeton 08540. 609-520-4000; fax, 609-520-7315.

Home page: http://www.careers.wsj.com.


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