Word: marketing
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Dates: during 1990-1999
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...service that would let job seekers put themselves on the block. And although the eBay geeks didn't sell themselves, the fact that they had given it a go was enough, in Taylor's mind, to "validate the process." So last month Monster rolled out its "talent market," where independent contractors and freelancers can trumpet their skills and put themselves up for auction to prospective employers...
...Taylor, the logic for a human auction is even more compelling than the one for things, and his is one of a number of e-companies that are changing the way employers buy labor. As with eBay, the talent market eliminates the middleman and levels the playing field between buyer and seller. But an antique cigar cutter never has to sell itself. People do. "Marketing themselves is the most difficult thing for free agents," says Taylor, who heads the interactive division of recruiting ad giant TMP Worldwide, which bought Monster in 1995. "This puts them in the driver's seat...
...such a bold experiment in the burgeoning field of e-cruiting. Not only is unemployment near record lows, but Silicon Valley is also facing a severe shortage of qualified techies. There are 500,000 vacancies, a number expected to grow to a few million. In such a tight labor market, the Net may be just the tool for the growing ranks of job-hopping free agents to flex their bargaining muscle...
Since the talent market launched a month ago, some 35,000 customers, from programmers to Elvis impersonators, have filled out their profiles, eagerly awaiting an offer they can't refuse. Unlike traditional auctions, though, bids aren't binding--there is more to picking a new boss than simply finding the right salary. So once the auction period ends--anywhere from one to five days--an accepted bid sets the stage to close the deal. "It gives you a starting point," says David Braverman, of Woodmere, New York, who runs a marketing agency and, after a week on the site...
...glean advice, headhunters and corporate recruiters haven't been far behind, shelling out hundreds of millions of dollars to pitch their positions. Since it's faster and significantly cheaper to hire online, in a few years e-cruiting could capture up to half the U.S. search-and-recruitment market, worth some $30 billion, according to Perry Boyle, an analyst at Thomas Weisel Partners. Monster alone, which will eventually take a cut of $250 to $1,000 from firms that make a talent-market hire (the site is currently free), draws close to 3 million visitors a month, according to Media...