New web site caters to high-end job market 03/03/2005

In a sign of Bay Street's recovering job market, a Toronto company is launching a Web site tomorrow that matches Street employers with highly skilled job seekers.

The employment Web site, www.Baystreetjobs.com, allows companies to find employees who meet certain requirements in sectors such as financial services, insurance, law, real estate, mining, energy and media..

By entering niche markets, the company hopes Bay Street firms will turn to its site instead of using general job sites or headhunting agencies. The site allows employers to screen candidates based on education, courses taken and work experience..

"The criteria for these areas have become so specific, on other general sites they can't find all these things," says the president of Baystreetjobs.com..

"Companies can search by, for example, the Canadian Securities Course ... and if you specifically needed an individual to have that, you could just search by that.".

The site allows job seekers to "separate themselves from the masses" on general jobs sites such as workopolis.ca or monster.ca..

The site hopes to cash in on Bay Street's current hiring boom. Companies in the finance, insurance and real estate sectors expect to do more hiring in the second quarter of 2005 than at any time since the third quarter of 2002, according to a recent study by Manpower Inc..

Karen Theriault, director of the Corporate Connections Centre at the University of Toronto's Rotman School of Management, says the survey backs up what she is witnessing on Bay Street..

"The market picked up a year and a half ago and it made firms more confident that they are going to require staffing for the long term. The downturn in the U.S. and Canadian markets a couple of years ago, after the tech bust, really affected the confidence level of the major hirers and their hiring went really down," she says..

Ms. Theriault says about 60% of Rotman's masters of business administration graduates are hired by Bay Street companies.

The site is free for job seekers. The cost varies for companies seeking employees, depending on the number of posts..

Mitch Moxley
Financial Post


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