NEW YORK: The New York Times Co. and Monster Worldwide Inc., the Internet job search firm, today announced an alliance aimed at expanding their shares of the help-wanted classified market.
"The combination of technology, reach and expertise created by this strategic alliance is extraordinary," said Janet L. Robinson, chief executive officer, The New York Times Company, in a statement. "Together with Monster, The New York Times Company will significantly increase our presence in the online recruitment space as we continue to provide quality solutions and considerable value for employers and job seekers."
The alliance will combine Monster's brand, reach and technology with the content and market penetration of 19 of the Times Co.'s newspaper websites, company officials said. Monster is the leading online employment site, with 25 million unique visitors per month.
The Boston Globe reports: "Under the deal, Times Co. and Monster will create co-branded helped wanted and recruitment sites within the websites of the newspapers. For example, readers of Boston.com, the Globe's online affiliate, will be able to click through to a co-branded site. The new sites will begin to appear in March."
An excerpt from the press release follows.
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The enhanced and expanded New York Times Company-Monster co-branded career sites will provide job seekers and employers with the features and functionality of the Times Company's existing online job sites, combined with Monster's collection of innovative, market-leading career tools and content. In addition, recruiting professionals will now enjoy both local and national job posting capabilities through Times Company and Monster sites, along with access to the world's largest resume database, which grows by more than 40,000 resumes each day. The co-branded sites will begin to appear in March.
"This new relationship between Monster and The New York Times Company combines two world-class brands to jointly deliver greater value for both career-seeking consumers and for employers seeking talent," said William Pastore, president and chief executive officer, Monster Worldwide. "The alliance significantly advances Monster's strategy to provide highly localized online recruitment and career services, allowing Monster to leverage its expertise and full range of solutions in conjunction with the Times Company's award-winning local news outlets and powerful distribution presence."
The alliance will create the overall online recruitment leader in Boston, where Monster will join with BostonWorks.com, the recruitment Web site for Boston.com, New England's leading news site and one of the nation's biggest regional Web sites, with four million unique visitors each month. The new BostonWorks.com-Monster site will combine BostonWorks.com's leading 16% share of the Boston market's online job postings with Monster's 9% share (Source: Wanted Tech). In New York, The New York Times-Monster site will capitalize on NYTimes.com, the Number 1 most-visited newspaper Web site in the U.S. (Source: Nielsen// NetRatings, December 2006). Monster's significant Web traffic will complement the Times Company, which is the ninth most-visited parent company on the Web in the U.S., with 44.2 million unique visitors per month (Source: Nielsen//NetRatings, December 2006).
The co-branded sites will be designed to help employers and staffing organizations better target and more efficiently place recruitment advertising to reach both local and national talent. Recruiters new to Monster will benefit from its suite of tools designed to streamline and expedite the hiring process. Monster's existing recruiting customers will also have the opportunity to cross-advertise in the Times Company's print properties. To enable this, Monster will introduce a new "click-to-print" feature that will provide current online recruiting clients with a simple method to reverse-publish their job listings as print ads in Times Company newspapers.
On the consumer side, more job candidates will be able to take advantage of Monster's advanced search and match technology, enabling them to identify both local and national opportunities. Monster's new capabilities allow seekers to easily expand their searches using the new "More Jobs Like This" feature, or fine-tune searches based on criteria such as salary range, years of experience or the distance of jobs from a targeted ZIP code. The new co-branded sites will also feature local employment news and information, career advice and guidance, and more.
