Web 3.0 and Monster

We have already discussed the online job industry and have reviewed CareerBuilder. Here, we take a look at Monster’s offerings from Web 3.0 perspective.

Monster, founded by Jeff Taylor in 1994, was the first online job search site. It pioneered the idea of having public resume database and job search agents. Monster has 18 million unique monthly visitors and operates international sites in 36 countries across the world with more than 40,000 resumes being uploaded daily. It is the only pan European site that also has a steady market in developing nations like India and China.

Monster won the Webby award for Best Employment Site in 2006 and People’s Voice Award in 2007. The site is ranked 16th among the most popular sites on the Internet and according to 2005 TNS Brand Awareness Survey, Monster has a very high brand awareness of 92%.

The site is user friendly with drop down menus, allows easy inter-category navigation and has FAQ, tutorial and demo for each application.

Context
The best Contextual split that Monster does is by separating sites for Employers and Job Seekers. However, it misses the Recruiter Context, and lumps it under Employers. Employers and Recruiters are not the same thing. Candidates need to maintain relationships with recruiters even when they are not proactively looking for a job.

Beyond that, I don’t see the same level of categorization as Career Builder.

The Diversity search, however, allows gays/lesbians, minorities and those with disabilities to search for job in those companies that are actively seeking qualified diversity candidates. It also features articles on workplace, career advice and career issues for that segment.

Content
Monster has 41 million resumes in its database with over 1.1 million job listings and 275,000 companies posting. The site contains over 1,200 pages of information on job searches, job postings, resume uploading, networking, career and employment related advice, etc.

The Monster Employment Index feature is very interesting. It provides an in-depth analysis of U.S. online job demand, based on real-time review of openings in over 1,500 career sites.

On Monster, a job seeker has access to more than 120 professions with detailed information on skills, experience and education required for the job. Monster’s Salary Center tool powered by Salary Wizard helps users gauge their salary depending upon job skills, experience and qualification. It also furnishes tips on negotiating salary.

I liked the Money section as it provides information on retirement planning, money management, real estate, taxes, insurance and credit, all issues related to the paycheck, and highly relevant.

The site has tie-ups with 43 daily newspapers and eight television properties. Monster has also partnered with WetFeet and ANA to create niche sites for interns and registered nurses.

Apart from helping users create better resumes, cover letters, etc. the site also contains articles aiding users to choose their career path, selecting the right education, school or degree, information on scholarships, educational loan, etc.

Monster has sites in more than 20 local languages, which is good news for job seekers across the globe furnishing updated information on area and category-wise job opportunities and job fairs with interactive maps.

Community
Monster has 43 million registered users globally. The site has some interesting community features with blogs, message boards, forums that allow users to share their work experiences, exchange views or advice, post messages, rate or comment on posted messages, build networks and stay connected with other Monster users by chatting online or through e-mail. Here also, however, the glaring missing link is a LinkedIn like Professional Networking tool.

Commerce
Besides its subscription fees, Monster earns a substantial portion of its revenues as commission on the different career services rendered like resume writing. Monster also earns commission from its partnership with FinAid.org, FastWeb.com, EduPass.org, Fafsa.org and Admissions, which provide financial assistance for education. Monster sells its own brand of products like notebooks, mouse pads, t-shirts, umbrellas, etc. through Monster mall, its online store.

Personalization
Monster does not force users to register to search for jobs or read articles or enter the community or blog page. The site asks for membership only when users want to apply for a job or post jobs as a recruiter.

What I like best about Monster is its personal recommendation feature, which sets it apart from CareerBuilder or SimplyHired. The site shows the number of times your resume has been viewed by potential employers. The personalized poll is another feature worth mentioning.

Registered members get job alerts and various tips on interviews and other career-related topics through newsletters and e-mails. You can also choose to personalize the content of your newsletter by entering information on your preferred industry or job category.

Vertical Search
Monster allows users to search jobs by job category, company location, keyword and posting date. I like the Diversity search function, which caters to the multi-cultural or physically disabled job seeker, a feature absent in SimplyHired or Yahoo! Hot Jobs. However, Monster has missed out on the salary and experience options in job search, unlike Yahoo! Hot Jobs.

Monster allows contextual searching through separate pages for employers and job seekers. Monster should also allow search by Employer, as this would enable the job seekers to apply directly by company name.

Business Model
Monster earns majority of its revenues from career-related services and subscription fees. To post a job for 60-days Monster charges $375 and to browse resumes within a 100 miles radius its fees are $1,000 per month. With an Alexa ranking of 391, the site is also a favorite among advertisers. The company, however, has a lot of management problems right now.

Web 3.0 Rating: Context: B, Content: A-, Community: B, Commerce: B, Vertical Search: A-, Personalization: B+; Overall Rating: B+