Monster Takes a Leading Role in Helping Employers Meet New OFCCP Rule
MAYNARD, Mass.--(BUSINESS WIRE)--Jan. 11, 2006--Monster(R), the leading global online careers and recruitment resource and flagship brand of Monster Worldwide, Inc. (NASDAQ: MNST), today announced it is prepared to help employers comply with the new rule published by the Department of Labor's Office of Federal Contract Compliance Programs ("OFCCP") that is scheduled to take effect Monday, February 6, 2006. To help employers prepare for these changes, this week Monster began offering its customers free training and educational materials about the rule and the product enhancements the company has made to help those affected comply.
The OFCCP rule defines an "Internet Applicant" and provides for 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 the industry leader, Monster has been closely monitoring these regulations since the proposed rule was published in March 2004. We have consulted with industry experts, legal advisors and the OFCCP to design a system that will make it easier for federal contractors to comply with the final rule," said Doug Klinger, President of Monster, North America. "We are confident our product enhancements will not only assist affected employers, but augment the overall recruitment and hiring process."
Monster has integrated OFCCP-related features into its Job Posting and Resume Search tools available to federal contractors. These features will allow employers to specify OFCCP-related information (such as data management techniques and basic qualifications), to collect and maintain Equal Employment Opportunity (EEO) data, and to track a history of job posting and resume search information that is required under the new rule.
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.CONTACT: Monster Danielle Perry, 978-461-8366 Danielle.Perry@Monster.com or Weber Shandwick Worldwide Andy Rohr, 617-520-7030 ARohr@WeberShandwick.com SOURCE: Monster