NEW YORK, Aug. 6, 2003 (PRIMEZONE) -- Andrew McKelvey, Chairman and CEO of Monster Worldwide Inc. (Nasdaq:MNST) told www.wallst.net that the company is taking steps to expand their Asia-Pacific market, specifically in India where "there's a lot of people and a lot of promise."
Domestically, the company has turned some of its attention to small and medium businesses since many of the Fortune 100 companies are not "doing a lot of hiring, they're really replacing," McKelvey said. He added, another important component of a web-based recruitment service is its cost-effectiveness, and detailed its increasingly crucial role for small and medium sized businesses.
McKelvey also discussed Monster Worldwide Inc.'s recent initiative partnering with the NAACP to widen the pool of diverse applicants. "There are so few places to go where you can be sure of finding a diverse candidate," McKelvey said. "I think it's a great partnership and I think it's a great source of diverse candidates."
Although Monster faces online recruiting competition from websites like hotjobs.com, and careerbuilder.com, McKelvey said the real competition for the company are newspapers, which still generate nearly $4 billion from help wanted classified ads.
He attributed some of the company's recent productivity to a more concentrated focus on the core business, and their ability to do so by outsourcing their executive search and staffing to the publicly owned Hudson Highland Group Inc. (Nasdaq:HHGP).
Looking ahead, McKelvey predicted "tremendous growth" in Monster's B2B and job postings, and resume access.
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