Monster Worldwide Inc. continues to improve its semantic search technology, thereby enabling recruiters to staff projects and quickly fill vacancies with quality candidates in a much swifter process.
Monster is continually improving its search related products to help recruiters do more with fewer resources in a recessionary environment.
Monster Worldwide is an online recruitment firm of the parent company Monster.com, the leading career website in the world.
Monster’s patented 6Sense semantic search and matching technology act as a backbone for most of the products, which in turn, facilitates both the job seekers and employers.
Monster acquired Trovix Inc. in 2008 and this new technology is based on the technology from Trovix. Trovix provides career-related products and services that use advanced search technology, which focuses on key attributes such as skills, work history and education.
Monster’s proprietary semantic resume search product, Monster Power Resume Search (PRS) is available to customers in North America since late 2009. The company recently launched this product in the United Kingdom, France and Germany and plans to roll out the same in Netherlands and China in the future.
The 6Sense technology basically transforms traditional keyword-based processes and aids customers by matching candidates to their required job specifications.
Moreover, Monster introduced its cloud based search product SeeMore in the third quarter of 2011, which enables the customers to utilize the company’s 6Sense technology on their own talent databases.
A lot of recruiting agencies are adopting this cloud based technology to work in a more efficient manner. SeeMore enables companies to search for their required talent pools in one place while quickly identifying and ranking the best potential candidates by reading the resumes with a recruiter- like understanding of skills and qualifications.
Business had been in doldrums for Monster for quite some time now and the company is focussing on rolling out new products and technologies to combat the significant decline in its top line.
We continue to maintain a Neutral recommendation on Monster. Our recommendation is supported by Zacks Rank #3, which translates into a short-term rating of Hold.