Monster Facilitates OFCCP Compliance for Leading Federal Contractors
MAYNARD, Mass., Feb 06, 2006 (BUSINESS WIRE) -- As the Department of Labor's Office of Federal Contract Compliance Programs ("OFCCP") rule on the definition of an Internet Applicant goes into effect, Monster(R), the leading global online careers and recruitment resource and flagship brand of Monster Worldwide, Inc. (NASDAQ: MNST), announced today that more than 1,000 customers have already opted-in to the company's new OFCCP-related features. These product enhancements help federal contractors track data and meet recordkeeping requirements, including storage of information for at least two years as specified in the OFCCP rule.
The OFCCP rule defines an "Internet Applicant" and outlines recordkeeping requirements concerning the Internet and related technologies, including resume database searching. The rule impacts U.S. federal government contractors and sub-contractors covered under executive order 11246. Conservative estimates show that some 20,000 businesses representing 27 million employees are affected by this rule.
As further testament to the value of Monster's new services, the company also announced its OFCCP microsite (http://info.monster.com/ofccp) has received over 3,000 visitors, and more than 150 customers have participated in the free OFCCP online training seminars. Additionally, the new OFCCP-related product features, which are integrated into Monster's Job Posting and Resume Search tools, have received praise and positive feedback from affected customers.
"We are pleased to see the extent to which Monster has developed in-depth knowledge of, and prepared for, all facets of the upcoming OFCCP rule change," said Andrew Forcier, HR Generalist, PerkinElmer. "We commend Monster for recognizing the importance of these new requirements, seamlessly integrating vital functionality into the current interface, and making it available to us at no additional charge."
"We appreciate the proactive role Monster took to not only make certain we were educated about the new OFCCP rule, but to help ensure our preparedness in meeting the requirements," said Dianne Ruffolo, Recruiting Manger, CIT. "Their knowledge and understanding is quite evident, and we expect the integrated OFCCP features to assist tremendously in our compliance."
Employers can learn more or opt-in to Monster's OFCCP product functionality by visiting http://info.monster.com/ofccp or call 1-800-MONSTER. The OFCCP final rule is available at: http://www.dol.gov/esa/regs/fedreg/final/2005020176.htm.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers and recruitment resource. The company also owns TMP Worldwide, one of the world's largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,800 employees in 26 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and the NASDAQ-100 Index. More information about Monster Worldwide is available at www.monsterworldwide.com.
Monster(R) is the leading global online careers and recruitment resource. A division of Monster Worldwide, Monster was founded in 1994 and is headquartered in Maynard, Massachusetts, USA. Monster has 26 local language and content sites in 24 countries worldwide. Monster is known for connecting quality job seekers at all levels with leading employers across all industries and offers employers innovative technology and superior services that give them more control over the recruiting process. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster's industry-leading employer products and services, please visit http://recruiter.monster.com.
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding Monster Worldwide, Inc.'s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide's control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide's Form 10-K and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
SOURCE: Monster Worldwide, Inc.Monster Worldwide, Inc. Danielle Perry, 978-461-8366 Danielle.Perry@Monster.com or Andy Rohr, 617-520-7030 ARohr@WeberShandwick.com