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Monster’s online recruitment platform China HR was up for sale but the company has struggled to find a company willing to buy its Chinese operator, Morning Whistle writes. Monster, which has suffered from competition coming from social recruitment websites, has seen a recent drop in profits.
Other online recruiters in China face challenges with industry giants such as 51job.com, zhaopin.com and ChinaHR.com all seeing a decline in the number of visits they attract per month. As with Monster, social recruitment appears to be blamed for this development.
“The mostly homogenous services provided by online recruitment companies are losing power to attract clients with the growth of social networking websites,” the paper writes.
Social recruitment has been on the rise in China, as elsewhere in the world, with a survey by Kelly revealing that 80% of jobseekers make use social recruitment websites.
Traditional online recruitment is not regarded as being able to close the information between staffing firms and job candidates while professional networking sites help to tackle the issue.