INTRODUCTION
Background Information
CareerBuilder is the biggest online employment site and it serves over 24 million visitors on every month. It is thus the biggest online employment company in the United States. In the recent economic downturns there has been a great demand for jobs by the ever expanding population which is not matched by enough supply of jobs. It has also been noted that most job seekers tend to utilize the internet in job searching since it’s an easier way which embraces technology (Beatty, 2006). Therefore, CareerBuilder saw it worthwhile to venture into this business of matching possible employees with wanting employers (CareerBuilder, Inc, 1998). Currently, CareerBuilder undertakes its operations within the US and in other fewer countries outside the US. CareerBuilder was founded in 1995 as company selling software to firms which were listing job vacancies on CareerBuilder.com. Initially, it started up in the name of NetStart Inc, however it went ahead to change its name to CareerBuilder after an influx of investing capital.
However, the company has been faced by several challenges in its operations especially in relation to economic downturns. This even forced the company to make some major layoffs in its workforce so as to maintain its profit margins. Consequently, the company has been gaining ground as the economic turns continue to stabilize. This has even led to the company being involved in an acquisition of a Russian economic modeling software company (CareerBuilder, Inc, 1998). In the future, the company is focusing on venturing into large scale operations by expanding its reach all over the world. Thus, the company is interested in widening its target market by utilizing other markets outside the US. This is the long term objective of the firm which it is working tirelessly to implement and hence improve its corporate status in the industry.
The product of this company is the job seekers and any job openings from the listed companies in its website. Thus, it deals with individuals and the listed firms which are interested in absorbing potential candidates. My main reason of selecting this company as the basis for my study is because I felt that there is unattended market which CareerBuilder has tapped in the job market. This is the narrow and slowly expanding niche of the unemployed persons in the world. The reserve army of the unemployed in the society has increased as jobs continue to become scarce for the increasing population. This is a business aspect that has for long time not been utilized by willing investors. Hence, I seek to gain more insight on this line of business and learn more about how these firms make profits by engaging in job searches for people.
Purpose and Scope
The purpose of this study would be to find out how CareerBuilder undertakes its operations in this new line of business. It would also be significant to learn the client base of this company and how it effectively serves them in their developed platform online. However, the study would also be interested in knowing the company’s revenues and how it manages to keep its profit margins at constant levels like other companies in other industries. Consequently, the study would be keen to learn the business environment in this industry and the potential players involved in the market. It is also projected that this study would help me to know if the company offers room for career development for its employees (Ohlsson & Borg, 2010). This study will be limited to CareerBuilder Company and the information sought will be gotten from this firm. However, the information will be taken from a specified sample of employees in this firm. The sample size will be decided upon by the researcher depending on the suitability to the firm. Hence, the scope of the study will be limited to CareerBuilder Company’s information.
Research Questions
- What is the amount of revenue that CareerBuilder Company makes in a given financial period?
- Does the company of career opportunities in my line of specialty?
- What does the company do to give room for career growth for its employees?
- Does the company face stiff competition from other companies in this industry?
- What is the main objective of the firm in getting into this business?
- Do the clients of this company get satisfied with the services offered to them?
- Does the company feel that it has helped people to achieve their career goals through their service?
History of the Company
The company was established in 1995 then named NetStart Inc. Its main operation during the start up period was to sell software’s for firms which were interested in being listed to the job openings website. However, as the firm continued to engage in business, it experienced a huge influx of investment capital (CareerBuilder, Inc, 1998). As a result, the company decided to put this software in their own site and email where they incorporated companies that were users of the CareerBuilder software. Conversely, the company linked with partners to expand their investment capital. In April 1999 the company made a major decision to go public. Its initial public offer (IPO) rose over $8 million which was more than the estimated amount.
FINDINGS
The company makes a considerable good amount of revenue given the line of business which it operates under. It’s a new and emerging market which is yet to be utilized to its full potential. Thus, from the given revenue projections of the company, this is a sign of good benefits to be accrued in this business. However it would be vital for this company to ensure stability of its revenues. The chart below shows the revenues of this firm in different financial periods.
Revenues of CareerBuilder
As a business student I was interested in finding out if the company offers careers in my line of study. After the study I found out that this firm actually offers jobs of different specialty depending on what industry that the listing firms play in. Thus, the company offers career opportunities in my line of studies which is very inspiring (Beatty, 2006). The chart below shows a sample of four different careers and the number of jobs available in every career specialty. This shows how diversified the firm is in terms of different field of specialties for their clients.
The Number of jobs in different Career Specialties
In ensuring career development for their esteemed employees, the company engages in carrying out trainings through their research and development teams. This is to help employees develop their careers expansively and also helping them to achieve their career goals.
On the issue of competition in the industry, the study details that the company does not face threatening competition from its worthy competitors. This would be attributed to the maturity of this market since it is still a new erupting industry that has not been filled by many investors. For instance, the major competitor to this company was the North American firm called Monster International.
The main objective of this firm entering into business in this industry was mainly to make it easier for job seekers and firms seeking for employees to find each other easily and more quickly. This would also save time a lot for the job seekers whom would be forced to go from company to company in search of work. However, by embracing technology, the company was able to bring these services closer to the people.
A survey from a small section of the company’s clients revealed that over 80% of these clients were overly satisfied with the kind of services provided by CareerBuilder. Thus, the company has achieved a good level of customer satisfaction for its clients which can define the fast growth of this company.
The company maintains a record of persons it has helped in getting jobs from their listed companies. According to them, since their inception to this industry it has helped over 2.5 million people in assessing employment opportunities. This shows the level to which they have helped people in achieving their career objectives.
CONCLUSION
In a nutshell, CareerBuilder is an online employment firm which creates a website whereby job seekers and potential employees can meet and be matched. This company operates majorly in the US and other few parts of the world. However, the company is keen to expand and reach almost every part of the world. The company has currently being performing well with regards to good revenue records. The company has also been helpful in developing careers of people and therefore helping people achieve their career goal. Although, the company has faced some challenges in its operational course, it is still hopeful of controlling this new market. This company offers careers in a diverse field of specialties thus; it is keen on providing its services to a wide range of clients.
References
Beatty, R. (2006). The ultimate job search: Intelligent strategies to get the right job fast. Indianapolis, IN: JIST Works.
CareerBuilder, Inc. (1998). CareerBuilder.com. Chicago, IL: CareerBuilder Inc.
Ohlsson, H., & Borg, H. (2010). Career development. New York: Nova Science Publishers.
