Contractors, Consultants And Freelancers Say That Marketing And Self-Promotion Are The Biggest Drawbacks To Career Independence, According To A New Monster.Com Survey

MAYNARD, Mass. June 9, 1999--Nearly half of the free agents polled - a category including independent contractors, consultants, freelancers and owners of micro-businesses - believe marketing and promoting themselves is the biggest drawback to being independently employed, according to a new Monster.com survey of 5,570 existing and "wannabe" free agents, and employers. In contrast, the bulk of self-employment "wannabes" responding said they feared money issues - such as a lack of steady pay or paying for their own benefits.

The Monster.com survey, "Do You Dream of Becoming An Independent Consultant or Free Agent?" reveals the level of demand for an Internet-based recruiting service designed especially for the free agent talent market. The survey results come just weeks before Monster.com is scheduled to release its new service The Monster Talent Market(SM) - an on-line, auction-style exchange where independent contractors, consultants and freelancers can market their skills and expertise to potential clients. The service will go live July 4, 1999.

Employers indicated that the biggest drawback to the use of contractors, freelancers and consultants is the difficulty of the "matchmaking" process. In fact, 38% said that it takes them too long to find qualified independent contractors and consultants.

The vast majority of free agents, "wannabes" and employers said they would use an on-line auction style marketplace - 83% of contractors and consultants, 84% of "wannabes," and 72% of employers said they would use a service such as an auction-style marketplace.

• Self-marketing -- not money or security -- is the biggest concern of active free agents. While most aspiring consultants said that lack of steady income and having to pay for benefits were the biggest drawbacks of an independent career path, actual free agents were far more focused on the process of self-marketing and promotion. Forty-seven percent of the 2,771 existing contractors responding claim having to "constantly market oneself" is a drawback to being independent compared to 37% of 2,519 aspiring contractors responding. Conversely, only 25% of existing contractors view "lack of steady pay" an issue compared to 34% of those who dream of consulting.
• Potential clients have trouble finding qualified professionals quickly. Thirty-eight percent of the 280 employers polled say that finding a qualified contractor "takes too long" and 26% claim that there is simply "not enough high quality talent' in the consultant market. Only 16% said the expense of free agents was an issue.
• Employers frequently use the Web to find and hire contractors, freelancers and consultants. Twenty-six percent of the employers do consider Web sites the best resource from which to recruit professionals for positions, while only 5% of contractors use Web sites to market themselves. Only referrals and networking were rated better by employers as good ways to identify and recruit quality professionals.
• "The Monster Talent Market(SM) will revolutionize the way consultants connect with clients worldwide," said Monster.com CEO Jeff Taylor. "Monster Talent Market(SM) gives individuals control of their work and their lives, allowing people with valuable skills and experience to make more of their own career choices."
• The Monster Talent Market(SM) will be a welcome addition to the resources used by consultants and aspiring consultants. Free agents who visit the site can join the community and develop a profile defining their ideal assignment, desired rate and project scope. They can list their education, experience and other qualifications. When their profile is complete, it can be activated for one, three or five day auctions - during which time employers from around the globe can view it and bid. The free agent can then review different offers and select the one he or she prefers. High bid being only one of the considerations.
• "Employers need rapid access to the skills and services of talented free agents," said Taylor. "Independent contractors and consultants not only want to drive their own careers, but take control of the process. The Monster Talent Market(SM) brings the right people together and takes the hassle out of connecting."

About Monster.com

Headquartered in Maynard, Mass, Monster.com is the leading, global careers Web site with 7.6 million unique visits per month. About 350,000 of the 1.3 million visitors who manage their resumes on Monster.com describe themselves as contract employees. Monster.com connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster.com Career Network consists of local content and language sites in Australia, Belgium, Canada, France, the Netherlands, the United Kingdom and the United States and will soon launch sites in Germany and Singapore.

Monster.com is the flagship brand of the Interactive Division of TMP Worldwide (NASDAQ: TMPW; ASX: TMP). Founded in 1967, TMP Worldwide, now with more than 5,200 employees in 21 countries, is the on-line recruitment leader and one of the world's largest recruitment advertising agency networks, and now owns of the world's largest search and selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest yellow page advertising agency and a provider of direct marketing services. The company's clients include more than 70 of the Fortune 100 and more than 400 of the Fortune 500 companies. More information about Monster.com is available at www.monster.com or by calling 1-800-MONSTER.