iResearch found in the discussion of the quarterly financial report data of 51job that, after many years of brand building and accumulation of advantageous resources, 51job has achieved remarkable results. Its total operating income increased year by year and reached RMB 330 million in Q2 2011. The number of registered users continued to grow and broke through 50 million in Q2 2011, reflecting to a certain extent the development trend of China's online recruitment industry.
(1) Interpretation of 51job's Financial Report in Q2 2011:
Total revenue scale: Reached RMB 330 million in Q2 2011
The financial report data of 51job in Q2 2011 showed that its total operating income was RMB 330 million, an increase of 26.7% year-on-year and 2.4% quarter-on-quarter. iResearch analysis believes that the main reasons for the steady growth of 51job's revenue scale are two-fold: First, with the gradual recovery of the economy, the demand from employers and job seekers for the recruitment market has increased, objectively driving the growth of 51job's revenue; Second, 51job adjusted its internal structure according to market demand, promoting further development of the company.
Data disclosed by 51job revealed that the number of registered users reached 31.5 million in Q1 2009, and within just two years, it had broken through 50 million by Q2 2011. iResearch analysis believes that the role of the Internet in people's lives is becoming increasingly prominent, objectively driving the continuous expansion of the online job-seeking population. Meanwhile, 51job leveraged its accumulated advantageous resources to build a good user reputation, attracting a large number of job seekers to post their job-related information on 51job.
Market size of the online recruitment industry: Significant monopoly position of the three major recruitment websites
iResearch statistical data showed that the market size of China's online recruitment industry reached RMB 490 million in Q1 2011, increasing by 25.6% year-on-year and 8.9% quarter-on-quarter. Among them, the three major recruitment websites - 51job, Zhaopin, and ChinaHR - occupied 76.1% of the online recruitment market share, maintaining a significant leading position in the online recruitment market in the short term. iResearch analysis believes that the main reasons for the growth of China's online recruitment industry revenue scale are threefold: First, the overall recruitment demand began to warm up from 2010, driving the rapid development of online recruitment; Second, compared to traditional offline recruitment, online recruitment demonstrated incomparable advantages in all aspects, expanding the market of recruitment websites; Third, employers, in order to save time, labor costs, etc., gradually shifted their primary recruitment method to online recruitment, driving the development of online recruitment.
iResearch statistical data showed that the number of employers using online recruitment reached 1.05 million in 2010, an increase of 29.6% compared to 2009, accounting for 10.7% of China's recruitment enterprises. iResearch analysis suggests that the rapid growth of the number of online recruitment employers is mainly due to two reasons: First, the improvement in the普及 level of the Internet objectively promotes the recognition and acceptance of online recruitment services among employers; Second, online recruitment has the advantage of reducing enterprise costs and saving time, leading more and more employers, especially SMEs in second- and third-tier cities, to preferentially choose online recruitment services. iResearch predicts that by 2014, the number of online recruitment employers in China will exceed 2 million.
In recent years, recruitment based on SNS and microblogging has started to rise. Since the end of 2010, many well-known IT companies in the Internet industry have successively joined the "microblog recruitment" trend. After April 2011, Sina Weibo and Dajie.com also launched micro-recruitment. The emergence of new social recruitment websites such as micro-recruitment and Jingwei Network will objectively promote the development of the online recruitment industry, presenting a coexistence of traditional online recruitment and new online recruitment forms.
iResearch comprehensive analysis believes that SNS recruitment websites are unlikely to become mainstream in China's online recruitment market, mainly for the following reasons: First, Chinese Internet users' demand for SNS services still focuses mainly on entertainment and communication, with fewer business needs such as recruitment; Second, although SNS recruitment has low cost, the recruitment positions are limited, mostly involving IT companies and positions, and the effect of this type of online recruitment for job seekers still needs to be tested; Third, SNS recruitment can easily leak personal information, creating potential network security risks.