monster: technology and todays recruitment denis gaynor product development director monster.co.uk

Monster:Technology and

Today’s Recruitment

Denis GaynorProduct Development Director

Monster.co.uk

Contents

• The Beginning• Monster Today• Extending the Brand• How the Internet Changed

Recruitment• What Our Clients Are Buying• Future of Online Recruitment

The BeginningThe Beginning

The Idea

1994• Jeff Taylor of Adion Advertising founds “The Monster

Board”• Originally a bulletin board (BBS) for jobs (mostly

tech)• 454th Web site registered• $25 a posting

1995• Jeff sells MonsterBoard to TMP Worldwide

Growth

1998• TMP merges MonsterBoard (#1 job site) with Online

Career Center, Student Center and About Work to create Monster.com

January 1999• Monster.com becomes first Internet site to advertise

during the SuperBowl at beginning of online growth

“When I grow up…”

SuperBowl Ad

The Brand

• Like Amazon or eBay, “Monster” is a pure, differentiated online brand

• Empowering the job seeker – “Never Settle”

• Initially a job seeker marketing strategy (“employers will go where the workers are”)

• Intern to CEO

Extending the BrandExtending the Brand

“It’s a Byers Market”

Following the departure of Adam Crozier from the FA

The Times, 02 Nov 02 The Independent, 02 Nov 02

Alliances – where your jobs also appear

Industry Specific Alliances

CIMA, Jane’s Defence, Institute of Petroleum

Search Engine Optimisation

Monster TodayMonster Today

MonsterMonsterAn International BrandAn International Brand

Belgium

France

Germany

United Sates United Sates of Americaof America

CanadaCanada

Hong Kong Singapore Australia India NewZealand

United

Kingdom

Ireland

Spain

Sweden

Denmark

Norway

Finland

Today

• 22 countries, 14 languages with Jobline acquisition

• Over 20 million CVs worldwide• Over 1 million jobs live worldwide• Over 130,000 employers

• 26th Most visited website in the World

Profile of a Typical Monster UK Job Seeker*

• Salary: £29,160• Age: 33• Years experience: 10.7• 40% Manager level and above• IT, Admin, Marketing, Sales, Finance• Found site through recommendation or

search engine

*Red Sheriff Survey, October 2002

Our UK Clients

How the Internet Changed How the Internet Changed RecruitmentRecruitment

Recruitment on the webStatistics

• Two thirds of internet users (aged 25-34) use the web for job seeking*

• Over 1,000,000 CV’s are on top 5 UK sites

• 600,000 people a month look online for a job**

• More than 100,000 jobs posted on careers hubs in the UK

* NOP study (UK), June 02.

** NNR Pivot Report Oct 02

Average Cycle Time: Internet vs. Traditional

0

30

60

90

120

Traditional Cycle Time Internet Recruiting Cycle Time

Assessment / Closing

1 week : closing1 week : interviewing

Source: Kennedy Information

Days

Interviewing

Candidate ID

1 week : candidate ID

Top 20 IT Job Searches

1. Project Manager2. Java3. Support4. C5. SAP6. Web7. IT8. Security9. Oracle10.CAD

11.Network12.Cisco13.Unix14.Vb15.MCSE16.IT Manager17.Visual Basic18.Technician19.SQL20.ASP

Job Searches by Category (monthly)

Category Searches

Information Technology 347,075

Administrative 323,769

Sales 245,336

Advertising/Marketing/PR

226,138

Computers, Software 214,081

Engineering 201,269

Internet/E-Commerce 161,894

Customer Service/Call Centre

159,244

Manufacturing 155,445

Telecoms 143,726

Jobs Posted per Month

• Information Technology• Sales• Administrative and Support Services• Accounting/Auditing• Legal• Customer Service and Call Center• Engineering• Employment Placement Agencies• Human Resources• Manufacturing and Production

Why online recruitment worksEasier for the job seeker…

Works infinitely more quickly and more targeted online than offline, with potential for a much broader scope of jobs geographically

…and much more cost efficient for the employer! Guardian – 400,000

per issue

Monster – 150,000 specific job searches per day

Guardian – £17,000 full page, run of press, one off

Monster – £250 (60 day life)

What Our Clients are BuyingWhat Our Clients are Buying

How Monster Makes Money

• Profitable globally and in the UK• Charge employers to post jobs on

site or search CV db (500,000+) • Banners, profiles, Webcasts• Power companies’ career sites, ATS

Job Posting

Company Profiles

Webcast Streaming Video

Corporate Career Sites

Applicant Tracking Systems

Opportunities for the FutureOpportunities for the Future

• Job ads moving from newspaper to Internet• Companies need to be cost efficient in

hiring, particularly during a down economy• 25% of FTSE 250 companies have no jobs

area on their corporate web site; another 25% only rudimentary job postings with no apply online/db

• NHS and local government need to address hiring needs locally and globally

Online Recruitment – The Future

HR and Technology

• Applicant Tracking Systems, either as ERP add-ons, stand alone software or integrated job boards

• HR Managers move from paper and Excel to sophisticated recruitment management systems

• HR uses technology to track and onboard candidates, with reporting to display effectiveness

•Use of XML for job postings and CVs opens up more fluid connection of HR systems

Better Matching - Understanding Monster Users

• The Future is in the Data – better matching to get more targeted, quicker short lists

• Capture job seekers’ hard data (CVs) and soft data (ideal company, corporate structure, type of job, comp structure, etc.

• Automate the matching process intelligently