JV
'Monster' job site heavyweight help to ChinaHR
By Yang Cheng (China Daily)
Updated: 2010-03-04 13:10
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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.
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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.
