Monster’s Innovative 6Sense® Semantic Search Technology Helping Employers Find Better Quality Candidates Quicker, to Fill Open Jobs Now
Power Resume Search® and SeeMore" delivering precise talent matches for companies large and small
MAYNARD, Mass. & ATLANTA--(BUSINESS WIRE)-- At a time when the competition for jobs is fierce, and the unemployment rate remains high, the number of jobs waiting to be filled is actually rising, with an a average of 3.26 million positions waiting to be filled in the U.S. alone. At the same time, employers are under increasing pressure to find the right person for the right job quickly and cost effectively. To help overcome this challenge, companies are successfully finding candidates using 6Sense® semantic search technology from Monster, the worldwide leader in successfully connecting people to job opportunities and the flagship brand of Monster Worldwide, Inc. (NYSE: MWW). With 6Sense semantic search, recruiters can source quality job candidates and fill jobs faster than ever before.
This week, nearly 13,000 human resource professionals from across the U.S. and 65 countries will come face to face with technology leaders and solutions providers at the Society for Human Resource Managements (SHRM) 64th Annual Conference and Exposition in Atlanta, GA. Monster will showcase its innovative advanced patented and patent pending search technology at SHRM, including Power Resume Search® and SeeMore", the world's first cloud-based semantic search and analytics recruiting platform.
In side-by-side comparisons with competitive sites using standard keyword search technology, 97 percent of recruiters reported they found qualified candidates faster when using Monsters 6Sense search technology. Additionally, according to data collected from 100 recruiters, managers & executives from 21 SeeMore enterprise beta customers nationwide expect to see a 41 percent gain in productivity and a 70 percent reduction in time spent to search for resumes. And nearly 70 percent (68%) reported finding candidates they could not find before using SeeMore.
A recruiters most important job is finding the best talent, and a big part of the challenge is searching an enormous volume of resumes balancing this time consuming task with the precision necessary to not miss highly qualified candidates, said Earl Rennison, VP of Architecture for Monster Worldwide (MWW). Considering that Monsters database contains tens of millions of resumes, if a recruiter took 90 seconds to review one resume, and that recruiter were to spend 24 hours a day, 365 days a year, screening resumes, it would take 85 years to rank order candidates for one particular job. With Power Resume Search, it takes two seconds to complete this task reviewing, scoring and ranking those same resumes, with the same accuracy and understanding that a human being would bring to the task. Thats one billion times faster.
SeeMore improving recruitment productivity for Fortune 500 global companies and staffing firms
Built on Monsters highly successful 6Sense semantic search technology, SeeMore allows companies to search all of their talent pools in one place and to quickly identify and rank the best potential candidates by reading the resumes with a recruiter- like understanding of skills and qualifications. SeeMore enables employers to efficiently and cost effectively find and match talent identified from a wide range of sources from existing and incoming talent pools. With SeeMore, companies move beyond talent sourcing to talent management, using analytics for more strategic workforce planning.
SeeMore has reduced the time it takes to source relevant candidates, cutting the time it would normally take to search through our internal database, said Michael Hakeem, Manager of Talent Acquisition and staffing for Novo Nordisk, the global healthcare company and world leader in diabetes care. Novo, a Fortune top 50 company, employs approximately 32,000 employees in 75 countries, and markets its products in 179 countries. Novo has to hire 700 people over the next five weeks and SeeMore has been incredible helpful in identifying relevant candidates from a pool of more than 300,000 resumes. To determine the effectiveness of the technology, I asked my screeners do traditional Boolean searches alongside SeeMore searches, and the difference was huge. The Boolean searches were returning relevant candidates buried 3 5 pages in search results, while SeeMore was delivering relevant candidates immediately out of the gate.
Staffing firms, whose success depends on speed and quality to fill hundreds of jobs at any given time, are sourcing talent from multiple locations including referrals, social networks, saved resumes, job posting applicants, employee profiles and website visitors. To help meet their needs, staffing companies are embracing SeeMore.
Our company specializes in providing clients with office support, creative, technical, healthcare, human resources and financial staff, ranging from professional to administrative roles with very specific skill sets, so being able to pinpoint qualified talent with speed and efficiency is a huge priority for us, said Aaron Green, Chairman of the American Staffing Association and founder of Professional Staffing Group, one of Massachusetts largest staffing firms. Staffing managers have access to multiple candidates from multiple sources and keyword search is very limiting when we need to separate and quickly identify the right candidate. We need to be more efficient in searching databases and then have candidate profile information presented and ranked in a simple dashboard and SeeMore allows our staffing managers to do just that. Monsters technology is truly a game-changer for the staffing industry.
Power Resume Search cutting recruiting by as much as half the time for companies
Monsters Power Resume Search, fueled by 6Sense" semantic search technology, enables employers to find the best candidates quicker by analyzing resumes as a hiring manager would, by reading resumes and evaluating skills, while understanding the depths of an individuals experience in seconds instead of hours. Semantic search technology goes far beyond traditional keyword search, saving time and increasing productivity, allowing recruiters to see resumes in less time with unprecedented hiring efficiency by providing faster access to better qualified candidates.
A world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions. Philips dedication to enriching lives is reflected in our company, our solutions, and most importantly a commitment to our people. We simply need great talent to keep our legacy alive, said Peter Dube, Head of Sourcing for Philips North America. Eight of our sourcing specialists are using Power Resume Search and, as a team, we have anywhere between 500-1,000 jobs open per month. Monsters Power Resume Search tool helps us fill our talent pipelines with highly qualified people who share our passion for meaningful innovation. The Netherland-headquartered company employs approximately 122,000 employees in more than 100 countries worldwide.
The challenges of hiring in this current economy, with so many people out of work, are overwhelming. Power Resume Search has helped us make precise matches that limitations of traditional search engines could not uncover, said Steven W. Choi, President & CEO, Innovative Pharma Solutions, the Leader in Innovative Workforce and Business Solutions, pioneering new and inventive business processes to streamline and modernize the Pharma, Biotech, Consumer and Device industries. We did not expect the ROI on Power Resume Search to be so immediate, but it literally paid for itself in 3 days. We first began using PRS in the fall of 2009 and have had many successful hires over the past 3 years that I believe we could not have found with other search engines.
For more information on Monsters 6Sense semantic search technology and full suite of Monster technology solutions, visit http://findbetter.monster.com/.
About Monster Worldwide
Monster Worldwide, Inc., parent company of Monster®, is the worldwide leader in successfully connecting people to job opportunities. From the web, to mobile, to social, Monster helps companies find people with customized solutions using the world's most advanced technology to match the right person to the right job. With a local presence in 55 countries, Monster connects employers with quality job seekers at all levels, provides personalized career advice to consumers globally and delivers vast, highly targeted audiences to advertisers. To learn more about Monster's industry-leading products and services, visit http://www.monster.com. More company information is available at http://about-monster.com.
Kathy OReilly, 978-823-2002
Source: Monster Worldwide, Inc.Copyright Business Wire 2012