In November 2022, job search platform Monster.com – which was founded in 1999 - rebranded and transformed into foundit, an end-to-end talent platform in Asia Pacific and the Middle East with a new vision. Prior to the rebranding, Monster.com’s businesses in India, and Southeast Asia was acquired by Quess Corp in 2018 for Rs 145 crore. The acquisition offered Monster the opportunity to build an innovative technology platform to gain an edge over the competition. Last year, foundit launched its next-generation recruitment solution. Says Sekhar Garisa, CEO, foundit, “In November 2023, foundit launched its next-generation recruitment solution to revamp the hiring process, with a vision to connect the right talent with the right opportunities through tech innovations, including artificial intelligence (AI).”

The Rebranding Challenge

With Monster.com being an established brand in the APAC and Middle-east region, the transition to a new brand name meant that foundit needed to rebuild that same level of brand recognition, trust, and credibility. Saurabh Srivastava, CMO, foundit says, “A primary challenge was ensuring that the new brand could effectively communicate its value proposition to both job seekers and employers. foundit recognised that simply rebranding was not enough; we needed a product that could offer unique solutions to the challenges faced by recruiters.” This resulted in the company focusing on product innovation and launching a 2.0 version, integrating cutting-edge Gen-AI technology. By leveraging Gen-AI technology, foundit aims to empower recruiters with advanced search capabilities personalised to the organization and incorporating over 35 filters. Also present, is an outreach module with AI-generated emails, mass personalisation features, and a collaboration tool that comes in handy for recruitment teams. However, effectively communicating these new features and capabilities to the target audience was a significant marketing challenge. Another challenge was rebuilding brand equity.

Srivastava adds, “Monster.com had built up significant brand equity over the years, including brand awareness, perceived quality, and brand associations. foundit understood that replicating this level of brand equity with the new brand name would require substantial marketing efforts and time.” To address this challenge, foundit
strategically partnered with BWF, aligning with their vision and tapping into a larger audience in key markets such as India, Malaysia, Singapore, Philippines, Indonesia, Thailand and Hong Kong. This partnership aims to leverage BWF's existing brand equity and reach to help establish foundit as a credible player in the online job search and recruitment industry.

Transformation In The Employment Landscape

With the employment landscape undergoing a significant transformation, technological innovations have revolutionised work processes such as automation of repetitive tasks and the emergence of new job roles demanding digital skills. Says Garisa, “Rapid technological progression has widened the gap between the skills employers want and those that job seekers have, making upskilling a necessity to remain competitive in the job market. Also, there was a need for an efficient product that could not only tap into the active talent pool of those who are open to work, but the passive talent pool as well.” He adds, “The recruitment process has evolved significantly in response to changes, with the widespread adoption of remote hiring and virtual recruitment tools. Video interviews, online assessments, and virtual job fairs have become commonplace, enabling employers to tap into a broader pool of talent regardless of geographical constraints.” There has also been a shift in hiring practices, workplace policies, and organisational cultures to foster an inclusive atmosphere. Another change is how AI how has transformed how companies approach recruitment, simplifying processes and aiding decisionmaking by sorting through resumes, pint-pointing key qualifications and hunting for job-specific keywords and delivering smart insights that make life easier for HR managers.

Garisa explains, “At foundit, the four pillars driving the evolution include access to both active and passive candidate pools, recognising that 70% of candidates are typically passive. Precision-based AI-powered search offers personalised results tailored to specific organisations, integrating smart filters like current company promotions, startup experience, and many more. AI-generated email drafts and automated outreach streamlines engagement through optimised scheduling. There’s also the seamless collaboration within teams that conserves time and resources for a more refined candidate selection. Moreover, AI-driven tools evaluate candidate skills and cultural alignment, delivering valuable insights to recruiters.”

Foundit’s use of technology delivers a seamless, efficient, and elevated experience for both recruiters and candidates on the platform, empowering them to connect, engage, and succeed in the recruitment process.

Consumer Outreach

To reach out to its customers, foundit follows a Digital-first approach. Says Srivastava, “foundit leverages digital marketing channels such as social media advertising, email marketing, search engine optimisation (SEO), and content marketing to reach and engage with customers, allowing foundit to target specific demographics, personalise messaging, and drive traffic to its website or platform.”

On social media platforms, foundit shares industry insights from its in-house industry report – the foundit Insights Tracker, highlighting product features, interact with customers, and build brand awareness and credibility. Looking at Content Marketing, foundit creates and distributes valuable content such as blog posts, whitepapers, case studies, and webinars to educate and engage with its audience. The company also hosts and participates in industry events, conferences, and webinars to connect with customers. foundit has established partnerships with Microsoft, NASSCOM, NCS, and a few other organisations in the recruitment and L&D ecosystem. foundit has recently partnered with Badminton World Federation (BWF), to expand its reach and access new customer segments. Says Srivastava, “The marketing ethos at foundit is centered around innovation, customer-centricity, and industry leadership.”

On what sets foundit from competition, Garisa says, “In the competitive Indian job market, foundIt sets itself apart by harnessing cutting-edge technology and innovation to provide top-notch recruitment solutions. Our platform boasts advanced AI-driven features for precise candidate matching, predictive analytics to streamline talent acquisition, and automation tools that optimise hiring workflows, enhancing overall efficiency.”