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There’s only one word on Monster’s lips today and that’s, ‘Aggregation’.
Yesterday, Monster finally announced it’s long-awaited “big news” and revealed what we’d all been waiting for – that Monster are the latest company to join the job and talent aggregation race, in a strategy shake-up the company’s CEO Sal Iannuzzi has described as “disruptive to everyone of [their] competitors“.
Indeed, the announcement of Monster’s new strategy puts them in direct competition with the number one job site in the world, Indeed.com, as well as the likes of SimplyHired, CareerJet, Jobsafari, JobRobot, and Dice’s Open Web. But what makes Monster’s announcement so monumentus and ultimately “disruptive“? The fact it will now change the game for jobs boards with traditional pay-to-post pricing models, take on low-priced entry-level orientated Craigslist, and even challenge LinkedIn, that’s what!
The new aggregation strategy is set to play out in 3 pillars:
- Pillar one is called Monster Reach, which refers to the increase in the number of jobs Monster will now be offering to it’s job seekers, as well as the increased social media distribution and targeting of those jobs.
- Pillar two will be known as Monster Connections which describes Monster’s broadening of their candidate pool by way of candidate data aggregation. It also refers to new methods for directly communicating with those candidates Monster will provide.
- Pillar three is Monster Solutions and will be the name given to Monster’s new analytical tools, CRM and the various cloud-based services the company will employ.
Suffice to say, for the recruiting industry, the new strategy marks a significant overhaul in the way Monster will do business going forward. The following are 4 of the biggest developments that will directly affect recruiters in the months to come:
- The number of available jobs on the site will increase from 250,000 currently to 4 million by the end of the year, as Monster starts to aggregate jobs from online sources all over the world. Ads will appear in Monster’s search at no charge to the employer.
- While Monster will be keeping it’s traditional duration pricing, they will also be adding a pay-for-performance option to the mix that it expects will appeal to even the smallest, budget-conscious employer. The new pricing model will open up the site to more diverse job openings and employers.
- Monster customers will now have more choices as to where their paid job ads will appear those choices will now include the option to post to social sites like Twitter and Facebook. Not only that, but job ads will be to narrowly targeted so that not only individuals with a connection to the company can see them, but others who fit the job spec.
- As Monster begin to aggregate candidate data from the around the web and from social sites, the number of candidates will grow “massively“. Recruiters will now have access to 200 million candidate profiles, and although LinkedIn are now boasting 300 million users, Monster’s talent pool will undoubtedly be far more diverse.
The new features are set to roll out in the U.S. on July 1st after the team have done a number of roadshows demo-ing the features. Europeans can expect a roll out shortly after July 1st.
What do you think of the announcement? Is it what you expected? How do you envisage Monster’s new strategy will impact the recruiting landscape in the near and distant future? Let us know your thoughts in the comments below.