MAYNARD, Mass., Feb 01, 2010 (BUSINESS WIRE) -- To meet the growing challenges faced by recruiters, hiring managers and job seekers alike, Monster.com(R), the leading job matching engine and flagship brand of Monster Worldwide, Inc. (NYSE: MWW) today formally introduced its patented semantic 6Sense(TM) search technology, delivering precision matches for seekers and employers. 6Sense powers a suite of search products including Power Resume Search, Candidate Spotlight and Seeker Job Search (Beta).
Finding the "best" resume in a pool of candidates has long been a major challenge in the human capital industry. With Power Resume Search(TM), powered by 6Sense, recruiters can now quickly and precisely find and target candidates who best meet their hiring needs. With the size of resume databases growing from thousands to tens of millions, 6Sense is perfectly-suited for the challenges facing businesses today - especially since the need to expeditiously fill openings is a top priority for employers. For job seekers [2], 6Sense powered search provides relevant job search results, precisely matching people with opportunities better than ever before.
"Hiring is fundamental to the economic recovery. Technology can play a significant role in helping businesses mitigate the burdensome costs and resources associated with bringing on the people they need," said Sal Iannuzzi [3], chairman, president, and chief executive officer, Monster. "I hear from our customers that their businesses have jobs that they desperately need to fill and yet don't have the resources to make that a reality. 6Sense technology changes all of this, facilitating the hiring process so that better matches are made more efficiently thereby getting people back to work more quickly."
Developed through Monster's 2008 acquisition of search leader Trovix Inc., Monster's 6Sense patented semantic search technology utilizes intuitive, concept based searching, with a human-like understanding of the recruiting process and hiring needs. The 6Sense precision matching technology [4] understands job titles, skills, experience level, industries, education and the hierarchy of concepts, evaluating a candidate's work experience like a recruiter would in a fraction of the time. While traditional keyword search engines are limited in their ability to distinguish concepts and meanings of words and cannot address things like recent vs. dated experience, the intelligence of the 6Sense technology contextually interprets the meaning behind words and concepts rather than relying on the narrow, literal meaning of keywords.
"Monster's innovation in search technology marks a big jump beyond simple keyword search," said Susan Feldman [5], Research Vice President for Search and Discovery Technologies, IDC. "With 6Sense, HR managers will be able to find and compare resumes easily, and both hiring managers and job seekers will find precise conceptual search results that non-semantic search engines would not be able to uncover. The semantic tools that support these improvements create matches based on ideas, not just keywords, and serve-up additional job candidates who would not previously have been found. The value 6Sense technology brings to customers is significant: it saves time, and invites users to explore new avenues they may not have considered. This is an early example of what the online experience will look like in the coming decade, as we move from search as a separate tool to integrated online environments that guide us through an information task. Monster is a very early example in this search revolution."
"The 6Sense semantic search technology is an extension of our investment in many technology innovations we've delivered over the past two years," said Darko Dejanovic [6], executive vice president, Global CIO and head of product for Monster. "We've continued to invest significantly in technology, product and infrastructure to completely revamp the talent and job search experience. This investment has consistently delivered significant improvements and value to our customers, saving them time and money by simplifying the process of identifying and evaluating qualified candidates, thus allowing more informed hiring decisions."
Monster seeing positive feedback from small-to-medium businesses; finding the best among the most
"This new technology provides a more precise search which produces better quality candidates. Monster Power Resume Search is a real time-saver," said Judy Graham, Director of Human Resources, TEOCO Corporation. Ranked in Inc. Magazine's List of 500 of the fastest growing privately held companies on three occasions, TEOCO Corporation is the market leader in providing highly scalable cost, routing, and revenue management solutions for communications service providers worldwide. "We are looking for candidates that show longevity on their resumes. The technology of Power Resume Search enables me to select the attributes and criteria for candidates and provides quality results fast. Monster has really taken a leap forward over the competition with this search capability. More power to Monster with this intuitive product."
"Monster Power Resume Search cuts down on the time my recruiters typically use to dig through resumes, shaving 75 percent of the work off the normal sourcing process. What took maybe three days - now can be done in one," added Sioux Logan, President of RedStream Technology, an IT Staffing company dedicated to helping clients meet their business goals more effectively by hiring a diverse, creative, business-savvy team. "We made our first placement using Power Resume Search and I firmly believe we would not have found the candidate using standard Boolean search. It's that powerful."
6Sense Impacts the Job Search Process for Seekers
The same 6Sense technology transforming the hiring process for employers - live on Monster.com - is now in Beta for job seekers [7]. The 6Sense search engine searches conceptually (so seekers don't have to type the exact terms in the job title to match), presenting more relevant results in rank order, so seekers see opportunities most relevant to them. The end result is that job seekers will be able to use more "human-like" search terms and be less reliant on complex Boolean operators.
In addition to the advances in search and match, Monster has applied and continues to invest in advanced technologies such as semantic clustering algorithms and machine learning in domain appropriate ways, enabling intriguing new applications like Career Mapping [8].
For more on 6Sense, the following digital assets are available:
Print Advertisement [10]
Online brochure [11]
Product overview [12]
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 http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.monster.com%2F&esheet=6162548&lan=en_US&anchor=www.monster.com&index=17&md5=0d3895f77157c438e2a0101a03603b4d [13]. More information about Monster Worldwide is available at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fabout-monster.com&esheet=6162548&lan=en_US&anchor=http%3A%2F%2Fabout-monster.com&index=18&md5=d379dfbff1c32b23f4c8fe46af17ffa1 [14].
SOURCE: Monster Worldwide, Inc.
Press
Monster.com
Kathy O'Reilly
978-823-2002 or 978-394-9334
kathy.oreilly@monster.com [15]