Beijing: In 2008 the US-based online job company Monster Worldwide Inc made headline news when it acquired all of ChinaHR.com, paying $174 million for a remaining 55 percent stake in the Chinese recruitment site.
The acquisition enhanced the strength of the local website and cemented its hold on the No 2 position in China's online recruitment market.
Sal Iannuzzi, CEO and chairman of Monster Worldwide Inc. [CHINA DAILY]
A ccording to leading domestic consultant company IResearch, ChinaHR.com's online recruitment income accounted for 17.9 percent of the industry's total last year. And it is expected to have stronger growth in the next few years, market observers say.Further success and growth is expected in the years ahead because "Monster is committed to being at the pioneer in service technology and innovation in the sector", said Sal Iannuzzi, company chairman and CEO.
As well, Monster's global network gives ChinaHR.com a big boost because it is the only online recruitment company in the nation with a well-developed international talent database.
Cutting edge
Service, innovation-centered strategy and the global reach of Monster have all spurred ChinaHR's development, Iannuzzi said, noting its patent semantic "6Sense TM" search technology delivers precise matches to both job seekers and employers.
Standard key word search technology might cause a company that needs a veteran accountant to wade through resumes from people who worked as an accountant decades ago - but are now singers, salespeople or teachers.
With technology powered by Monster's 6Sense, recruiters can quickly and precisely find and target candidates who best meet their hiring needs, the CEO said. 
The technology also enables job hunters to better fulfill their ambitions.
Iannuzzi said the technology can also significantly help people who have ambitions for a job transition between two disparate industries, a difficult search task for other online sites.
The combination of media, offline recruitment and campus recruitment all give ChinaHR an edge, he said.
Campus recruitment by ChinaHR.com, a key component of its business, has won applause from not only customers in China but also internationally.
Iannuzzi said Monster is promoting ChinaHR's approaches of campus recruitment to its branches throughout the world.
"We are keen on listening to our customers and offering tailored services to fulfill their needs efficiently," the CEO noted.
As well, resources from Monster in some 60 countries globally offer ChinaHR an advantage in aiding China's State-owned enterprises (SOEs) scout talent overseas.
As China has begun to encourage more SOEs and banks to branch out overseas, they face a challenge finding senior professionals.
An example was a bank last year. It took only three weeks for ChinaHR to find 14 qualified overseas professionals it needed.
Before such a search may have cost the bank millions of yuan by hiring senior consultant companies to travel overseas for months at a time.
Rising needs
The CEO said the key challenge for ChinaHR itself is recruiting additional professionals due to rising market demand in China.
According to IResearch, China's online recruitment industry is expected to generate 2.85 billion yuan ($417.4 million) in 2013, and sustain a 20 percent growth annually.
"That shows how important the Chinese market is," Iannuzzi said. "Eyeing the tremendous potential and its fast economic growth, we view China as our biggest market in Asia and at the core of development of Monster."
He said Monster will strengthen its investment in China, but declined to reveal exact figures.
According to Edward B. Lo, executive vice-president of Monster's greater China operation, ChinaHR's PRO (recruitment process outsourcing) business has evolved into a new growth area with a promising future.
Iannuzzi said Monster is now busily completing acquisition of Hotjobs, the recruitment channel of Yahoo.
A highlight of the purchase is that Monster will enlarge its newspaper partners from 450 into 1,000. Also it will significantly increase the traffic and regional coverage of the website.
"Monster's whole-media combination solution will carve out bigger edge," he said.
Another niche that ChinaHR has set it sights on is high-profile managers for Chinese enterprises who can be found using its advantages in global resources.
Market statistics show that Chinese enterprises will need some 75,000 senior-level managers in the next five to 10 years, but currently only 3,000 to 5,000 professionals are qualified to fill the posts.
To meet the rising market demand, Monster has brought many top technology professionals to ChinaHR since 2009. Colleagues are working together better and better, the CEO said.
"We will be committed to increasing communication between ChinaHR and all of Monster's resources globally," Lo noted.
In addition, ChinaHR.com will expand its office size due to growing orders.
In abid to meet Monster's world-class standards, it will move to a new address in Central Business District of Beijing this year.
