Monster is Changing the Recruiting Landscape with Power Resume Search(TM) -- the Most Sophisticated Search Technology Focused on Talent Acquisition

Studies of customer beta usage show Power Resume Search delivered 150 percent more qualified candidates to participating customers in 65 percent less time than standard keyword searching

MAYNARD, Mass.--(BUSINESS WIRE)--Dec. 2, 2009-- Early customer feedback on Monster.com’s Power Resume Search is clear and dramatic. Employers are finding highly qualified candidates, or those that they would have missed altogether, in a fraction of the time. Power Resume Search™ is the first intuitive, intelligent semantic search engine developed specifically for human resource and recruiting professionals.

Based on strong customer demand, Monster.com®, the leading global online career and recruitment resource and flagship brand of Monster Worldwide, Inc. (NYSE:MWW), accelerated the product rollout of Power Resume Search to October 30th this year. Monster developed Power Resume Search through its acquisition in 2008 of Trovix Inc., and its patented, semantic search technology with human-like understanding for the recruitment space. This technology powers the search engine for three new Monster products: Power Resume Search and Candidate Spotlight for employers, and a semantic search engine for seekers, which is now in beta on the Monster.com site.

“The response to Power Resume Search has been overwhelmingly positive by both customers and analysts alike, who are impressed by the level of accuracy and precision of the search engine,” said Darko Dejanovic, executive vice president, Global CIO and head of product for Monster. “Customers are telling us after even a brief interaction with Power Resume Search that the difference between Power Resume Search and the competition’s search experiences are ‘obvious and dramatic,’ and that Power Resume Search will vastly improve their ability to quickly fill open jobs – both high volume and difficult to fill positions.”

Power Resume Search’s innovative matching technology understands job titles, skills, experience level, industries, education and the hierarchy of concepts. Using this knowledge, Power Resume Search evaluates a candidate’s work experience just like a recruiter would, and allows the recruiter to express their requirements in a more intuitive way. Unlike traditional keyword search engines, the intelligence of the technology contextually interprets the meaning behind words and concepts rather than relying on narrow, literal meaning of keywords. Keyword based searches for human talent are limited in that they cannot distinguish concepts and meanings of words nor can they address things like recent vs. dated experience, making truly qualified candidates very hard to find.

“Finding and hiring the most qualified talent creates a competitive advantage for any company. The problem has been the time, complexity, and difficulty associated with identifying and evaluating the right pool of candidates. Power Resume Search saves time and money by simplifying the process of identifying, and evaluating qualified candidates and allows our customers to make more informed hiring decisions,” said Dejanovic.

What customers are saying

Monster conducted detailed return on investment (ROI) studies with 48 recruiters from 15 large enterprise accounts to measure the value of Power Resume Search. In side by side comparisons with competitive products or standard keyword searching, customers found that Power Resume Search produced the following results:

  • 65% average time saved using Power Resume Search compared to keyword-based search engines
  • 150% average increase in the number of qualified candidates found
  • 90% of recruiters prefer using Power Resume Search over other keyword-based search technology
  • 97% of recruiters found qualified candidates faster using Power Resume Search

“Power Resume Search is truly game changing for recruiting,” said Kerry Wright, director of staffing, Siemens Healthcare. “The engine can search millions of resumes in seconds with a human-like understanding of skills. This will save recruiters and hiring managers a lot of time and money and, more important, provide a significant focus on quality.”

For more on Power Resume Search, these digital assets are available:

Customer testimonials

Online brochure

Product overview

About Monster Worldwide

Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster, the premier global online employment solution for more than a decade, strives to inspire people to improve their lives. With a local presence in key markets in North America, Europe, and Asia, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 index. To learn more about Monster's industry-leading products and services, visit www.monster.com. More information about Monster Worldwide is available at http://about-monster.com.

Source: Monster Worldwide, Inc.

Monster.com
Kathy O’Reilly, 978-823-2002 or 978-394-9334
kathy.oreilly@monster.com