Monster was one of the first job boards during the early days of the internet. A few years later, as the market leader, the job and résumé site ran a television ad during the Super Bowl in 1999. As a young recruiter, it was my go-to site to post job listings and conduct searches for candidates. Over the years, the recruiting platform has faced an onslaught of competition. Three major players, LinkedIn, Indeed and ZipRecruiter, a host of other niche and aggregation sites, along with new entrants, like TikTok, stole market share from the once-dominant Monster.
With an M.B.A. from MIT and 30 years in the tech industry under his belt, Scott Gutz was brought aboard three years ago to take Monster to the next level—after some turnover with CEOs. In a press release about his hiring, Gutz said, “Monster’s history as a disruptor in the recruitment industry is undisputed, and I’ve been an admirer of the brand for many years.” He added, “As I’ve started to learn more about the team and current state of the business, it’s clear that Monster has a unique opportunity to return to its position as industry leader. I’m honored to join a team that is poised to shake up the industry once again by delivering quantifiable value for job seekers and employers.”
I had the pleasure of interviewing Gutz to get his take on the job market. I also wanted to gain a sense of whether or not he had a plan to unleash the monster inside of him to take back the lead in the recruiting industry.
Within under a minute, it’s clear that Gutz eschews the hubris typical of many big-shot CEOs. He comes across as down-to-earth, friendly and authentic. He was excited to share what’s going on in the job-search space and his plans to bring back the former glory of the brand.
The Focus On Gen-Z
One of his initiatives is catering to the up-and-coming Gen-Z cohorts who are entering the job market, as well as younger Millennials. He’s betting that this generation will be vastly different from Baby Boomers. They have seen or heard about their parents losing their jobs during the financial crisis in 2008 and the Covid-19 pandemic. They’ve learned at a tender age that there’s no such thing as corporate loyalty. Our parents’ and grandparents’ age of sticking with one or two companies throughout the entire duration of their working lives is over.
Gutz understands that this younger generations desires meaningful jobs and careers that serve a greater purpose. They also want to work at companies that share their social and political ideals. It’s important for them to have job flexibility, including hybrid and remote-work options. If they’re not happy or feel unappreciated, they’ll switch jobs. Gutz predicts that someone who is now in their early 20s may end up having 10 to 20 jobs over their lifetime. This could include gig-economy and side-hustle opportunities.
With this in mind, one of Gutz’s growth models is to focus on Gen-Z and make them feel at home on the site. The last time I used the site, several years ago, the average tenure at a company for candidates we searched for was around 20 to 35 years. This pivot could add a little zest and excitement to the brand, while also building up a new customer base for the future.
When speaking of the current job market, Gutz, alluding to the recent U.S. Department of Labor employment data, said, “The latest jobs report shows a turnaround, which is an indication of a growing jobs market overall.” The Monster CEO pointed out, “Continued hiring in leisure and hospitality and healthcare, coupled with upticks in manufacturing, transportation and warehousing, are good indicators that the anticipated return to work may be underway.”
On the job platform, Gutz has seen a steady influx of new jobs. However, it’s hard for companies to find candidates, he admits. Similar to other CEOs, Gutz points to a labor shortage. He feels that this may be transitory. Once the enhanced unemployment benefits end, public schools reopen and more Americans get their vaccination shots, he contends that people will get off the sidelines and start interviewing for jobs. He also says that he’s noticed companies starting to increase wages, offer bonuses, remote-work options and other incentives to entice people to apply for jobs.
Healthcare And Nurses
There’s another fast-growing area that Gutz wants to capitalize on—nursing and healthcare. He tells me that over the last year and change, after bravely battling the virus, healthcare workers, particularly nurses, are beat. Some switched careers or retired early because the pandemic was just too much to bear. While staffing has always been a bit of an issue within healthcare, Covid-19 burnout has made it even harder to find nurses at any skill level.
Monster’s data shows that hospitals and doctors’ offices are woefully understaffed. The number of new jobs posted increased by 33% last month, with the bulk of openings for registered nurses, nursing assistants, licensed practical nurses and critical-care nurses.
Within the healthcare sector, some of the top jobs being searched by candidates on Monster include registered nurse, medical assistant, nurse practitioner, and pharmacy technician. The May jobs report also showed that a healthy dose of jobs—46,000, to be exact—were injected into the economy last month.
Remote Work, Flexibility And Upskilling
The circumstances of this past year gave recruiters a unique opportunity to seek out candidates from struggling industries who have key transferable skills. Gutz sees the future of a fluid and flexible workforce. Candidates will constantly adapt their skill sets to grow or even change their careers.
Companies are offering applicants the ability to work from home or anywhere they’d like. To help win the war for talent, businesses are offering on-the-job training and eliminating the requirement of a four-year college degree.
Searching for candidates nationwide is another way forward-thinking managers are finding top talent in a tight job market. Recruiting for people who will work remotely widens the talent pool and improves diversity. Gutz’s stats show that among job seekers, “remote” remains in the top 10 keywords searched on Monster. The company’s data shows that employers are touting remote-work policies as a way to attract more candidates. Jobs listings with “remote” in the title have more than doubled month after month on Monster.
It will be interesting to see Gutz reinvigorate Monster, attract a new young generation of job seekers and launch another Super Bowl commercial.
Source: Forbes
