Of course, this is a favourite topic of mine. Techcrunch has an article which provides a couple of directions for online jobs. Notably

I want to see a company come out and eHarmony-ize the job market. Make it so candidates go through a 15- to 30-minute application process that might include various tests related to their claimed skillsets. Allow recruiters to specify what skillsets are required and make them somehow rank the importance of the required skillsets.

I’d also like to see some social networking aspects along the lines of LinkedIn — allow people to refer their friends to jobs.

Both very valid for the Indian market as well. I think the social networking aspect has to be taken a whole level beyond linkedin — kinda non-incremental in my view.