North Vancouver, BC - Oct 22, 2002:
Hcareers, the dominant online job board for the hospitality industry, has increased its revenues by 110%, to $3.5 million¹. As the only cash profitable and growing job board with over 90 employees, Hcareers is posting better revenue and growth than even Monster.com.
According to IDC, the worldwide Internet recruitment market grew 53% in 2001. However, leading job boards are currently posting negative results. Monster.com's owner TMP Worldwide announced a 24% decrease in revenue for its second quarter ending June 30, 2002 from the same time last year.
"This clearly shows that specialist job boards, such as Hcareers, can beat the job board giants at their own game," said David Curry, president & CEO of Hcareers. "Monster cannot be all things to every industry. More and more employers are advertising for staff where the most relevant job seekers are looking, and for the hospitality industry, that's Hcareers."
"With over 2.5 million visits per month, Hcareers has over five times as much hospitality specific traffic than any site on the Net, including Monster. With a current North American customer base of 2,700 employers out of a potential one million, Hcareers' dominance will only continue to expand," added Curry.
"Cattlemens Restaurants found that Hcareers delivered far more qualified candidates than Monster,"" said Steve Hade, chief administrative officer at Cattlemens Inc. "Monster could not deliver close to the amount of resumes received using Hcareers. We made the switch to a vertical job board because it really does deliver the best pool of job seekers our market has to offer."
In addition to a significant jump in revenue, Hcareers has more than doubled its staff in the past 12 months to 90 employees. Based on Hcareers' analysis of Monster.com's percentage cut in payroll, the site would have cut its staff by 20% based on TMP's published results for the second quarter.
Hcareers allows job seekers to search thousands of hospitality openings across the country, by state, metro area or position category. More than 7,500 openings are live on Hcareers that have been posted in the last 45 days alone.
About Hcareers Launched in 1998, Hcareers is the leading job board for the hospitality, restaurant, and retail industries in terms of revenues, staff, and traffic. Hcareers has the most jobs and job seekers in all three industries with over 75,000 current job postings and over 900,000 unique visitors each month. Hcareers operates three websites, Hcareers.com (US), Hcareers.ca (Canada), and Hcareers.co.uk (United Kingdom & Ireland). The company employs over 100 full-time staff and has over 16,000 active clients. For more information on Hcareers visit their web site at www.hcareers.com.
1 Based on increase from April - June 2001 compared to the same time period in 2002