Read the passage and decide whether the following statement is true or false. Monster.com, the pioneer of online recruitment, shows how electronic marketplaces reach more people and can offer more efficiency than physical markets. It also shows that money can be made in such markets: Monster has a long record of profitability. Jeff Taylor, who launched the site in 1994, says that the Monster.com name is the firm’s “single most important success factor”. it introduces an image of youthful fun in what is basically a boring business. Supporting the brand is a big advertising budget which accounts for a quarter of the firm’s costs. He runs expensive ads during key sporting events such as the Super Bowl. Job-seekers supply resumes and employers pay to scan them or to post job ads. Most of the services that job-seekers get are free, but they have to pay for a service that allows them to contact each other for advice and career management. They can use this service to ask each other questions about, say, what it is like to work for a firm that they are thinking of joining. The main contribution of Monster has been to speed up hiring and vastly increase the accuracy of the job-searching process. “you can post a job at 2 pm and get your first response at 2.01,” Mr Taylor says proudly. And an employer who knows exactly what he wants can use Monster’s filter to search vast number of resumes with precise accuracy. Monster is a serious threat to newspapers,which historically made 40% of the revenues from carrying ads, up to half of which were for staff. Headhunting firms have also lost business, because demand for their help in filling lower-level jobs has fallen. The online job market works well for workers and employers who know what they want. It works badly for people who are unsure. Check that your resume says clearly what kind of job you want. The filters will then make sure that it reaches the right human resources department. Decide whether the following statement is true or false: To fund key sporting events is an important way to promote the brand for Monster.com.
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