Monster is launching its National Account Suite, which seeks to streamline the recruitment process and quell the push and pull that often exists between corporate headquarters and franchisees, says Mike Madden, the company’s senior vice president of product.
The suite makes use of existing technology to the meet the recruitment needs of specific employers, says Peter Weddle, CEO of Weddle’s, a research firm and consultancy in Stamford, Connecticut. Such customization is the wave of the future, he says.
"This product spells the next evolution of online recruitment services," he says. "Companies will be tailoring technology to better meet the needs of their recruiting clients."
Essentially, Monster is mimicking something newspapers created over time. As papers evolved, they developed classified advertisement products that cater to specific industries, such as real estate and automobiles, Weddle explains.
Monster, which launched its suite in November, believes there will be significant interest from clients because it is the only product of its kind in the industry, Madden says.
"There are about 2 million franchise businesses in the U.S.," he says. "It would be great if we could get 30 to 50 percent of that market."
Monster’s product aims to reduce recruitment gridlock. Though each company differs in its policies, the job-posting process generally is slowed because hiring managers at franchise sites must get approval from corporate headquarters each time they want to post an opening.
Often, headquarters will contend that it’s a necessary step to control recruitment expenses. Local hiring managers have complained that the process is cumbersome, time-consuming and ineffective, particularly in industries where turnover is high, like chain restaurants.
Monster’s new product offers a compromise. Franchisee hiring managers will no longer have to seek approval from corporate headquarters before posting a job. That will enable them to more easily hire the help they need. Corporate headquarters, meanwhile, don’t have to worry about overspending at the franchise level because the price of the subscription has been pre-negotiated.
The subscription, typically lasting a year, gives local hiring managers access to self-service tools that let them control the content and the frequency of job postings. Customizing the ads at the local level is important because hiring managers can use language that resonates with the community in which they are trying to hire, Madden explains. The entry base price is $800 to $1,000 for a year’s subscription, he says.
Local managers will be able to quickly post a job opening, even proactively managing future needs in the workforce pipeline. Posting a job can take 24 to 48 hours, compared with a week or more with the traditional checks and balances.