Bengaluru-based listed staffing solution firm Quess Corp acquired job postings portal Monster.com for around $6.5 million dollars in early 2018, marking the company's entry into online recruitment space. The company also recently launched a new platform 'Qjobs' to address blue and grey collared workforce demand. The app designed for both mobile and web-based experience provides not just listing, but also services such as verifying jobseekers skills, instant document verification and reducing recruitment time cycle.
Under its technology solutions vertical, the company categorises its online recruitment business as an emerging businesses segment still under investment mode. With Monster in its new avatar and now Qjobs, the company is looking to cover entire offering in segments of online recruitment.
According to the company's FY19-20 annual report, Monster has a database of more than 65 million registered users, around 2.7 million job views per month and about 11.1 million site visits per month. Post acquisition, Quess rebuilt the portal's architecture from monolithic to a modern module-based and micro services enabled. Monster in its new avatar aimed at providing better experience and improved offering to customers to ultimately drive organic traffic.
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"Monster and Qjobs are complementary products, each targeted at distinct segment of job seekers. Monster is a leading platform for white collar jobs, while QJobs aims to become the first port of call for both candidates and recruiters in the blue collar space," says Suraj Moraje, Executive Director and Group CEO, Quess Corp.
Monster in the second quarter of FY21 recorded positive EBDITA for second consecutive quarter. Both organic traffic and page views grew 56 and 51 percent respectively on a sequential basis. "Monster has always been and will remain a primarily white-collar job portal, with its new avatar witnessing job postings shoot up 69% QoQ, traffic grow 60% QoQ, and recruiter search volumes increase 30% QoQ," added Suraj.
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The recently launched Qjobs beta version had already seen nearly 1 lakh job postings, 3 million candidates and 2 lakh downloads with over 1,000 companies on the platform. While the company eventually aims to monetise the property, the immediate goal is to grow the product to a scale. "We have put in place a dedicated team to drive the product and we are encouraged by the early results," said Suraj.
Qjobs is also aimed at improving the recruitment efficiencies by nearly 20 percent given that Quess Corp spends nearly Rs 30-40 crore every year on the recruiting staff of nearly thousand of people in the company.
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