With news today that Dutch based global HR experts Randstad are to acquire US rival (ish) Monster we are excited to see how this merger impacts the global HR arena in the next few years. The general consensus at ThinkinCircles is that this could be a positive step for these two giants.
The key to the partnership is technology. Tech has always been at the heart of Monster and by combining their experience and innovative approach to recruitment alongside Randstad’s significant reach into the marketplace can only mean exciting times ahead.
Not just bigger but smarter seems to be the thinking behind the acquisition. Bigger is obvious given the size of these two companies, but smarter and more technologically advance is the vital ingredient.
Jacques van den Broek, CEO of Randstad expanded on this further, “With its industry leading technology platform and easy to use digital, social and mobile solutions, Monster is a natural complement to Randstad. The transaction is aligned with our Tech and Touch growth strategy and reflects our commitment to bringing labour supply and demand closer together to better connect the right people to the right jobs. We look forward to welcoming the Monster team and working together to shape the evolving global job industry.”
Both companies share this vision towards transformation. Tim Yates, CEO of Monster said “Joining Randstad provides a unique opportunity to accelerate our ability to connect more people to more jobs“.
Monster will retain its’ own identity – for now anyway. Global mergers on this scale can often damage the heart of the companies purchased as they become more and more absorbed into new company cultures. Hopefully Randstad will seek to embrace all that is good with Monster and not stifle it’s technologically pioneering spirit.
It is worth considering as well the implications of a company the size of Randstad now having access to the data held by Monster. For other recruitment agencies in the market the decision to use Monster may well be compromised as concerns grow about potentially sharing their data with the competition.
Many in the industry saw Monster as a troubled brand and somewhat under pressure. This move by Randstad may be an innovative way to reboot the fortunes of both companies but with jobs boards under increasing competition and pressure have they simply bought a really expensive candidate database?
This is certainly going to be an interesting purchase. One which could be a positive move for job seekers around the world. It’s definitely true that Randstad’s positive and proactive stance towards investing in technology on this scale is a hugely positive step forward in the transforming the HR arena globally. We think It could be an exciting merger not just for now but for the next generation of job hunters!