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'Monster' job site heavyweight help to ChinaHR

By Yang Cheng (China Daily)
Updated: 2010-03-04 13:10

Beijing: In 2008 the US-based online job company Monster Worldwide Inc made headline news when it acquired all of ChinaHR.com, paying $174 million for a remaining 55 percent stake in the Chinese recruitment site.

The acquisition enhanced the strength of the local website and cemented its hold on the No 2 position in China's online recruitment market.

'Monster' job site heavyweight help to ChinaHR

Sal Iannuzzi, CEO and chairman of Monster Worldwide Inc. [CHINA DAILY]

A ccording to leading domestic consultant company IResearch, ChinaHR.com's online recruitment income accounted for 17.9 percent of the industry's total last year. And it is expected to have stronger growth in the next few years, market observers say.

Further success and growth is expected in the years ahead because "Monster is committed to being at the pioneer in service technology and innovation in the sector", said Sal Iannuzzi, company chairman and CEO.

As well, Monster's global network gives ChinaHR.com a big boost because it is the only online recruitment company in the nation with a well-developed international talent database.

Cutting edge

Service, innovation-centered strategy and the global reach of Monster have all spurred ChinaHR's development, Iannuzzi said, noting its patent semantic "6Sense TM" search technology delivers precise matches to both job seekers and employers.

Standard key word search technology might cause a company that needs a veteran accountant to wade through resumes from people who worked as an accountant decades ago - but are now singers, salespeople or teachers.

With technology powered by Monster's 6Sense, recruiters can quickly and precisely find and target candidates who best meet their hiring needs, the CEO said. 'Monster' job site heavyweight help to ChinaHR

The technology also enables job hunters to better fulfill their ambitions.

Iannuzzi said the technology can also significantly help people who have ambitions for a job transition between two disparate industries, a difficult search task for other online sites.

The combination of media, offline recruitment and campus recruitment all give ChinaHR an edge, he said.

Campus recruitment by ChinaHR.com, a key component of its business, has won applause from not only customers in China but also internationally.

Iannuzzi said Monster is promoting ChinaHR's approaches of campus recruitment to its branches throughout the world.

"We are keen on listening to our customers and offering tailored services to fulfill their needs efficiently," the CEO noted.

As well, resources from Monster in some 60 countries globally offer ChinaHR an advantage in aiding China's State-owned enterprises (SOEs) scout talent overseas.

As China has begun to encourage more SOEs and banks to branch out overseas, they face a challenge finding senior professionals.

An example was a bank last year. It took only three weeks for ChinaHR to find 14 qualified overseas professionals it needed.

Before such a search may have cost the bank millions of yuan by hiring senior consultant companies to travel overseas for months at a time.

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