Monster Inks UK Agreement, Largest Deal In It’s History
Job board giant Monster just extended its global reach, signing contract with the United Kingdom’s Department for Work and Pensions (DWP) to provide an automated job matching service.
The DWP agreement is the largest single contract in Monster’s 22-year history and marks the start of the global expansion strategy of Monster’s already successful government solutions business in the U.S. Monster controls the job listing systems of many federal and state government agencies.
A value of between £14.45m (about $22.66 million USD) and £20.44m (about $32 million USD) has been placed on the Monster contract, reflecting its possible extension to other UK public sector organizations, according to a report by Guardian Government Computing, a publication of The Guardian newspaper in the UK. The projected price tag for the project is below the department’s original estimate of £50m ($78.4 million USD), according to the report.
“Building on the success of our U.S. government business, we believe we can provide a tremendous service across the globe and we look forward to expanding our role in helping government agencies worldwide match the right job seekers with the right opportunities,” said Steve Cooker, executive vice president of global government solutions for Monster Worldwide, in a press release.
“Across the world in this challenging job environment, government agencies are seeking to help their citizens find jobs,” Cooker said in the statement.
By contracting with Monster, DWP says it is providing easy online access to appropriate government services and will ultimately enable jobseekers to find more suitable job vacancies more quickly.
The four-year agreement, announced 13 February 2012, will transform the DWP job vacancy posting and job matching service, replacing the current service with Monster’s 6Sense technology.
The new system is due to launch in autumn 2012, will also provide employers with free access to an easily searchable database of job seekers, expanding the talent pool they can actively recruit from via the Business Link website.
Monster’s semantic search technology will be available for jobseekers and employers throughout the UK via the Internet.
According to Monster, its “6Sense technology differs from traditional keyword search because it understands the meaning and context of search criteria. It also ranks results based on how closely they match the search requirements, reducing the need to wade through irrelevant vacancies or CVs.”
According to Julian Acquari, managing director of Monster UK & Ireland, the launch of the service should mark a turning point for the UK’s unemployed allowing them to search more efficiently a vast database of vacancies and to identify jobs that match their skills.
“Monster’s semantic search technology has proven to be a leading online recruitment tool, and we’re delighted that it will now be used by the DWP to help get the unemployed back to work sooner,” Acquari said in the statement.
Monster is promising a lot, with the launch of the news service.
“The agreement between Monster and the DWP will help transform the job searching process by reducing the length of time it takes to find suitable vacancies”, Acquari said.