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Leading employment marketplaces SEEK, Jobstreet, and Jobsdb have successfully completed a merger, unifying their platforms while retaining their individual brands. The merger utilises SEEK's world-class Artificial Intelligence (AI) technology to enhance the experience of both employers and job seekers in the Asia Pacific region. The consolidated platform allows employers in eight APAC markets to access a talent pool of over 40 million individuals. The completion of the merger marks a significant milestone for SEEK, coming ten years after it purchased Jobstreet and Jobsdb and following three years of development, underpinned by a substantial AUD$180m investment.
"At SEEK, everything we do revolves around our customers. One unified platform means we can now offer our product to millions of people across Asia in a wholly new way, enabling our customers to find jobs and talent more easily. More than ever, this places us in a stronger position to realise our ambition of helping 500 million people develop their careers with five million companies in the region," affirmed Peter Bithos, Chief Executive Officer, Asia, SEEK.
Amidsts global talent shortages reaching a 16-year high, the merger has potential to ease some recruitment strains in regions such as Singapore, where 83% of employers have reported difficulties in finding the skilled talent they need. The Hiring, Compensation, and Benefits 2024 Report by Jobstreet by SEEK revealed some helpful insights into the employment landscape, highlighting that 45% of employers surveyed expressed confidence in the job market for the first half of 2024 while only 32% maintained this confidence for the second half of the year. The same report indicated that 49% of employers were keen on expanding their permanent headcount and about a third intending to increase their contract staff within the first half of 2024. The need for greater efficiency in bridging the gap between employers and potential employees cannot be understated.
Chew Siew Mee, Managing Director, Singapore, Jobstreet by SEEK elaborated, "There's a growing demand for specialised skill sets, like care economy skills or digital economy skills. In line with our goal of supporting both talent and hirers, we're excited to energise more tailored and accurate job matches, addressing the crux of the problem. The cutting-edge AI technology from SEEK enables seamless matching of hirers and talent on the basis of specific skills, job roles, and career aspirations, which is crucial in Singapore's rapidly evolving employment landscape."
The newly unified platform also introduces novel features aimed at improving the hiring process. For employers, AI-enhanced models assess talent suitability and offer personalised recommendations, expediting the hiring process. Job seekers, on the other hand, can be matched to the roles they are best qualified for, improving the efficiency and outcomes of their job hunts. Additionally, SEEK's AI predicts when an individual is likely to be a strong candidate for a role and indicates this with a top applicant badge to aid job seekers in making informed decisions on whether to apply for a particular role. This larger data set across APAC markets will further enhance SEEK's AI algorithms, promising even more precise and relevant matches between employers and talent.
