India Seen As A Strategic Market For Monster.com

Mumbai | Updated: Sep 20 2004, 05:30am hrs
The retirement of baby boomers by 2008-2010 spells tremendous opportunity for job openings in the developed world.

And the job site Monster Worldwides view in the said timeframe is driven largely by India being able to supply labour force around the world.

Monster Worldwide Inc, the parent company of Monster.com, had earlier this year acquired the Indian Web site JobsAhead.com as part of a global acquisition drive to boost revenue and expand its footprint in the domestic market.

India is a strategic market for Monster.com says vice chairman of JobsAhead.com, Alok Mittal.

He says the projected labour shortage by 2015 is expected to touch 30 million, which can be fulfilled by emerging countries. This is where India will play a major role, he added.

Monster.com is present in the US, Europe, Singapore Hong Kong and India. The company has four lakh customers in the US and majority of them, he adds face labour shortage.

Through this acquisition, they have access to the database in the Indian market. Besides access to three million resumes in India, this acquisition also allow both companies to pursue a cross border model.

Furthermore, Mr Mittal explained that the company is following a dual brand strategy. This essentially means that there are no immediate plans of phasing out the Jobsahead brand and investments continue in building both this as well as the Monster brand.

By the end of this month, the company expects to take its employee strength to 250 professionals.

A majority of these employees, he said would be focusing on sales. He says, we have so far tapped only higher end of the market. This includes IT companies, placement agencies, blue-chip companies etc. We now want to extend our focus to the next segment, which are the small and medium sized companies with more than 25 employees. This small and medium enterprises (SME) segment boasts of roughly 50,000 companies in India.