Employment 2.0:The Rise of the Social Network Revolution

Just a few short years ago, online job site Monster.com was on top of the headhunting world. It was simple, direct, and it had by far the best commercials. It had a simple message: your future is waiting, and we can help. But with the landscape of the internet changing rapidly, is the future waiting for Monster?

According to BusinessWeek, the future of Monster, a strong, publicly traded site "with $1 billion in sales and 80 million r??sum??s on file," is not as secure as it once was. Even as site traffic increases due to the recent unemployment spike, Monster's share of job listings among major recruiting sites has reportedly "declined from nearly 40% in December 2007 to 34% in May of this year... and the site saw a 31% drop in revenue last quarter," all thanks to some formidable competition. The contender: Web 2.0.

Being careless with social media can have its pitfalls; as a responsibly-used networking tool, however, it's becoming as appealing and invaluable to recruiters as it is to potential employees. In an article for CNBC, reporter Caroline Levine interviewed several employers about their feelings in regards to social networking. Perhaps it is their slick non-static interface; perhaps it is the newfound ability to view r??sum??s within a web of context, with live recommendations and social links and personality cues in real time. Whatever the case, the general consensus was that networking powerhouse sites like Facebook, ultra-professional LinkedIn, and even Twitter are becoming integral to the recruitment process and are vital tools for job seekers and career changers looking for an edge over the competition.

Does this signal the end for Monster? Analysts remain skeptical that the company can fight the oncoming Web 2.0 hordes. Also in the BusinessWeek report, investment bank analyst William Morrison noted: "I'm not convinced [Monster's] new projects are going to revolutionize its portfolio to the point where users and recruiters think about Monster in a new light... If the job boards don't innovate more often and more quickly, they are going to have a very difficult time growing their businesses over the next several years."

From the company itself, however, statements remain optimistic -- "I've spent a significant part of my career fixing things," says Monster CEO Sal Ianuzzi in the BusinessWeek report. "We are not done." Still, the battle that lies ahead is decidedly uphill, and no matter the outcome, job recruiting will never be the same.