New Monster Applicant Matching, semantic job search, and geographic expansion take innovation to the next level for recruiters
NEW YORK, Jun 28, 2010 (BUSINESS WIRE) --
When Monster.com(R), [2] the leading job matching engine and flagship brand of Monster Worldwide, Inc. [3] (NYSE: MWW), first introduced 6Sense Semantic Search technology to the market in early January, the company made a promise that the technology would be a cornerstone in its strategy to bring increased efficiency to the recruiting process. Building on the successful launch [4] of the product, Monster is now rolling out the technology into new geographies and building new uses and applications.
"The changing dynamics in the job market reinforced a real need to help our customers deal with a new set of challenges. Companies see too many irrelevant resumes while seekers see too many irrelevant jobs," said Sal Iannuzzi [5], chairman, president and CEO of Monster Worldwide. "When we launched the technology earlier this year, we stated that this was a key component of our strategy to transform the hiring process. We're extremely pleased with the positive momentum the technology has with our customers."
6Sense is Monster's patented semantic search technology, delivering precision matches for seekers and employers. The breakthrough technology powers a suite of products including Monster Power Resume Search [6]TM, Candidate SpotlightTM and Seeker Job Search (Beta).
Introducing Monster Applicant Matching(R)
Building on the success of Power Resume Search, Monster announced a new Applicant Matching product today at the annual SHRM conference that will allow customers to use Monster's 6Sense search technology to identify the best matched applicants who have applied to a job posting. Applicant Matching is designed to save recruiters even more time by automatically reviewing candidates applying to a job, finding top matches, highlighting key relevant skills based on the job matching criteria; while also providing side-by-side summary comparisons of the top matches.
"With employment rates still recovering, employers have been overwhelmed with job seekers applying for their positions. Our customers asked us for the ability to use our semantic search technology to help them instantly identify the best qualified applicants," said Darko Dejanovic [7], EVP, global CIO and head of product at Monster. "6Sense is a great example of a disruptive technology that is altering the competitive landscape because it is fundamentally changing the way recruiters match and evaluate talent."
6Sense hits home for seekers
Job seekers have also embraced our new 6Sense Job Search BETA and as a result job postings are easier to find and have a more direct relevance to their search. In fact, Monster has found that seekers using 6Sense have applied to 20% more jobs per visit and have viewed 18% more jobs than seekers using keyword based search. The primary reason is that 6Sense eliminates the frustration and clutter that is caused by keyword-based job search that is used by other job sites. 6Sense allows seekers to easily retain focus on the positions that are most relevant to their needs.
Extending 6Sense to other markets
In addition to applying the technology in new ways and enhancing core search products, Monster has also expanded the geographic reach of this technology. 6Sense was recently launched in the United Kingdom and Canada and so far the early results and level of interest from customers is very promising. The technology is also in beta in France and will launch in Australia later this year.
Customers are raving
"Monsters 6Sense Semantic Search Engine is light years ahead of its competition. In my current position I have evaluated several search products. None of them had the speed and accuracy of Monsters 6Sense, it's in a class of its own," says Michael Hakeem, Recruitment Professional at Novo Nordisk. "We're impressed with where Monster is taking this technology and can see it becoming a talent engine for our organization."
"Monster's 6Sense Semantic Search powered products have drill down capabilities that are better than anything I have had the opportunity to work with in the past," said Ned Bement, Vice President, Business Development, Versatile Concepts, Inc. "The value is getting to the candidates as fast as possible, and 6Sense allows us to do just that."
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://www.monster.com [8]. More information about Monster Worldwide is available at http://www.about-monster.com [9].
SOURCE: Monster Worldwide, Inc.
Monster Worldwide, Inc.
Matthew Henson, 978-823-2627
Matthew.henson@monster.com [10]