Simply put, no.
There’s a lot of debate around this at the moment and a number of TA professionals, I’m sure, will suggest that this is the case.
Why do I disagree? Because job boards provide a great supply of relevant, active job seekers to employers at a low cost-per-application.
They have access to a pool of interested job seekers that you simply would not find elsewhere. People come to job boards with a purpose – they are CV-ready and want to find a job.
Candidates may click on a job they are interested in if they see it on social media, but they aren’t coming to their Facebook or Twitter newsfeed with that express purpose (whether that will shift is uncertain – in 2017, Talent Works found that 48% of candidates used social media to search for their most recent job).
What do they need to do to survive?
Focus on building niche networked communities with relevant content (not just jobs – think about Stack and Github).
Job boards will also need to adapt slightly to the changing media landscape if they are going to survive. I think many will need to start offering other performance models, specifically pay-per-click (PPC) and Pay per application models.
Once you have committed to offering performance advertising, plug into programmatic advertisers who will be able to offer immediate revenue opportunities.
Finally, in the short term, job boards need to make the most of the opportunities Google for Jobs currently affords them. Whilst direct employers and their ATS’ struggle to get Google For Jobs compliant, this creates an opportunity for job boards to generate responses. They should definitely make the most of it whilst they can.