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Our Bureau

Hyderabad , July 15

THE global recruitment industry is in transition with new recruitment approaches and technology tools changing in the entire talent search process.

Significantly, as the technology industry is now witness to an upswing, corporations would be hard pressed to retain talent as they are faced with high attrition levels, according to the founder and CEO of Monster, Mr Jeff Taylor - who calls himself Chief Monster - who was in Hyderabad on Wednesday.

(After the company's recent acquisition of Jobsahead, it is the largest online recruitment solutions provider in the country.)

Speaking about some of the recent global recruitment trends on `Jeff Taylor Live', Mr Taylor said that while the demand supply mismatch was loaded in favour of supply now, this could soon change in favour of demand.

This means that companies will find the retention of talent a challenging task faced with issues relating to attrition.

"For instance, a project leader with a few years global experience could quit a job when he wants to and command a salary package he would like and manage to get it, as there is dearth of such talent."

Speaking about Monster, he said: "The company started with 40 clients and 200 jobs and with a $65,000 radio ad and had five employees. Today it serves 24 countries, 500,000 companies and employs 2,600 people."

He added: "It hosts 40 million resumes on its database and adds about 50,000 resumes a day. While for the first five years, we felt that there were not enough resumes, the last five years people have been saying there are too many resumes."

Mr Taylor said: "By being a first mover in this space and leveraging Internet, we have changed the direction of the way people search for jobs.

"While there are many more who offer similar services, none is as focused as us doing just the recruitment-related work. This has distinguished us from the rest and helped us consolidate across markets."

More Stories on : Human Resources | Software

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