Professional job portals - the next "in thing" in recruitment & cost modeling - the gaining popularity of monsters and linkedin aside, several companies have factored in non-traditional (traditional = recruiter based search) sources to attract talent / hire into their business plans. US Fortune 500 and top 100 tech sector companies in Asia show a clear "shift" to using professional networks to source new hires - even for senior positions.
What's been your experience so far as HR Leaders? - In my organization, we were able to cut the recruitment budget by 50% during fiscal 2007-8 and yet be able to meet the hiring needs - just through effective deployment of job portals (most of them costing a few hundred $ for full membership). We were able to redeploy those funds for development planning and some cool employee work life betterment services.
For those in the (traditional) recruitment business, how is the business model changing?