Hire.com Leads Transformation of Strategic Sourcing With Introduction of Managed Services Suite

Market Wire, March, 2005

Hire.com, the worldwide leader in Talent Relationship Management solutions, today announced the availability of the first elements in its suite of managed sourcing services to help customers meet the challenges of the rapidly changing talent landscape.

The influx of web-based technologies in the past few years at first offered relief to recruiters inundated with resumes and buried in manual processes. But the sourcing automation ushered in by the web has proven nearly as difficult to manage, according to a number of recent reports. For example, a 2004 study by Global Learning Resources revealed that while more than 25 percent of recruiters surveyed identified job board postings as their most effective candidate source, within two years that percentage dropped to only 7.7.

Even more dramatic -- Morgan Stanley reported that spending on the top three job board in 2004 exceeded $1B. Yet this tremendous investment yielded less than 7 percent of hires at Fortune 2000 companies, according to CareerXRoads.

Finally, these statistics -- both candidate numbers and investments -- target only active candidates. Yet most employers agree that it's the elusive high-quality passive candidate that offers the most value to the company. Strategic talent; the revenue generators, inventors, and engineers, represent the driving force capable of increasing the performance of the company.

Working with key customers, Hire.com has created a suite of managed services to harness the sourcing potential of pairing superior tools with effective processes. An extension of a complete workforce plan, these services provide the opportunity for companies to stay ahead of the escalating talent demand as economies continue to improve, while many skilled employees approach retirement.

TRM Services

TRM Mapping

TRM Mapping begins with a detailed analysis of the strategic skills, abilities and concepts that map to the short and long term business needs of an organization. An innovative methodology identifies "neighbor" job skills or categories and, ultimately, develops a "cluster" report that is parsed on location, educational institution and present employer. The identification of these "neighbor" talents enable customers to expand the scope of their sourcing and talent management activities to accelerate hiring for these critical positions.

TRM Strategic Sourcing

Using inputs from the TRM mapping exercise, Strategic Sourcing analyzes the employer's existing talent community and leverages a combination of key candidate mining and search technologies to develop a target list of candidates that fit the desired profile. Through our relationship with Spoke, a leading provider of relationship networking, customers capitalize on the connections of the employee base to initiate contact with traditionally hard-to-reach talent pools.

TRM Marketing

With the target list in hand, Hire.com builds multi-dimensional marketing programs that promote the client's employment brand, tailored to the interests of each candidate segment. The personalized email campaigns direct candidates to dynamic talent portals that engage individuals through relevant content and interactive features. Talent scorecards track candidate response and action rates -- enabling Hire.com to make timely and strategic adjustments to ensure the employer's talent community is grown with the types of candidates that translate into long-term return for their business.

"Our customers appreciate the difficult challenges involved in developing effective strategic sourcing initiatives at the heart of Talent Relationship Management," said Larry Orecklin, Hire.com chief executive officer. "They've turned to us for help in coordinating the strategy, resources, processes and technologies that can facilitate unparalleled access to the best people possible to accelerate business growth."

About Hire.com

Hire.com, the worldwide leader in Talent Relationship Management solutions, helps build better businesses by enabling customers to hire the best people. Global 2000 companies, including BP, Prudential, Reuters, Kaiser and Raytheon, have invested in Hire.com's unique modular system to achieve competitive advantage today, and to plan for their future talent management needs. HireEnterprise is a three-time award-winning product as named by HR Executive Magazine's Top 10 HR products of the year, most recently in 2004. Customers named Hire.com, "Best in Customer Service" in Electronic Recruiting Exchange (ERE)'s 2002 and 2003 Annual Industry Surveys. More information on Hire.com and its proven solutions can be found on the Hire.com website at www.hire.com or by calling (800) 953--HIRE (953-4473).

Contact: Patricia Colpitts Hire.com 512-583-4717 pcolpitts@hire.com