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Job-Seeking Executives Dissatisfied with Their Own Resumes
<BackNEW YORK (August 23, 2004) - Job seekers at the top of the pay scale are wrestling with the quality of their resumes, according to a survey conducted by executive job search engine TheLadders.com. When asked: "How would you rate your confidence in the quality of your resume;" 61% of the survey's 590 respondents answered: "I like it, but I know it could be better."
While the clear majority of executives strode the line between complacence and doubt about the quality of their resumes, 23% of those surveyed are brimming with confidence, stating that their resumes are "perfect." Eleven percent of executives responding to the survey say they know their resumes "need help," and 5% say they "don't really know what separates a good resume from a bad one."
"The growth of online recruiting has placed a much more significant emphasis on the first line of communication, making an air-tight resume absolutely essential," explained TheLadders.com founder and president, Marc Cenedella. "Our readers, who represent a cross section of the nation's top $100k+ talent, have recognized that we live in a world where recruiters receive 200 or more applications for every high-level opening. Accordingly, savvy executives are starting to treat their resumes as sales brochures - direct marketing tools that need to be regularly tweaked and polished to generate the best response rate possible."
The survey of registered $100k+ executives was conducted by TheLadders.com from July 1 through July 31, 2004. The margin of error is +/- 4.02%.
In a related survey of 437 executives, 10% of respondents admitted to having lied on their resumes. This survey was also conducted online at TheLadders.com, with a margin of error of +/- 4.68%.
Now reaching over 120,000 readers, TheLadders.com has succeeded in this exclusive slice of the market by turning the traditional recruitment business model upside down: it does not accept money from hiring firms, recruiters, or recruitment advertising agencies. Each month, the TheLadders.com team of experts reviews over 160,000 jobs to select more than 10,000 jobs for inclusion in their weekly newsletters. The company searches the Internet for job postings, or, alternatively, employers can list them free of charge - a critical difference from traditional job boards because it enables TheLadders.com to list every appropriate $100k+ job opening on the market, not just paid listings.
This distinction allows TheLadders.com to filter out any questionable job listings that do not meet the company's standards. TheLadders.com does not charge a fee for its basic job leads newsletter for job seekers. Instead, it generates revenues by offering a premium service to job seekers, which includes a greater number of job listings, more detail, early delivery, and more features for $30 per month. TheLadders.com's premium service fee keeps unqualified candidates out of the applicant pool and, thus, encourages employers to look at TheLadders.com applicants first.
Marc Cenedella founded TheLadders.com in July 2003 after a tenure as Senior Vice President, Finance & Operations, at HotJobs.com, ultimately shepherding that company's sale to Yahoo, Inc. (NASD: YHOO) in 2002. In May 2004 he was named Entrepreneur of the Year by award-winning marketing newsletter, MarketingSherpa, which cited TheLadders.com's unique business model as a key to its sustained growth.
About TheLadders.comHeadquartered in New York, TheLadders.com, Inc. is a privately held company offering online job search services to recruiters and job seekers in the $100k+ employment market. Ex-HotJobs.com executive Marc Cenedella founded TheLadders.com in 2003 to address the unique job seeking and recruiting requirements in this market sector. Investors include leading venture capital firm Matrix Partners and prominent private investors such as Kevin Ryan, CEO, DoubleClick, Tom Matlack, Megunticook Management, and Robert Chefitz, NJTC Venture Fund.
In addition to its primary member-based site, the Company operates vertical job search Web sites for sales, marketing, finance, human resources, law, technology, and operations. All sites feature daily job updates as well as industry-specific weekly e-newsletters. For corporate and executive recruiters, TheLadders.com delivers the same highly personalized experience. TheLadders for Recruiters (www.recruitladder.com) enables them to easily post $100k+ job openings at no charge. The Company further differentiates itself from other online job boards that fall prey to fraudulent job postings by implementing human mediated search, ensuring all job postings are fully qualified before being published to members.
More information about TheLadders.com can be accessed at www.theladders.com.
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Media Contacts
Maria Schiller
TheLadders.com
646-453-1913
maria.schiller@theladders.com