51job (前程无忧 Qiánchéng wú yōu) is a prominent Human Resources company based in China that has established itself as a leading platform for job recruitment and career-related services. While most commonly referred to as 51job, the company’s branded name in China is actually 前程无忧 (Qiánchéng wú yōu), which translates to ‘A worry-free future’.
Since its founding in 1998, the firm has played a significant role in connecting job seekers and employers, facilitating efficient and effective talent acquisition in the Chinese job market. The company has developed a comprehensive suite of services, leveraging technological advancements to address the evolving needs of both job seekers and employers.
In this article we dive in to the history, offerings, growth, and uses of the mega hiring platform, 51job (前程无忧)!
51job's Historic Highlights
Here is a history of the organization broken down in to some key milestones:
1998: 51job’s Founding
Rick Yan and Kathleen Chien found the company, with its headquarters in Shanghai. The original goal was to provide a platform for job seekers and employers to connect online.
2004: Initial Public Offering (IPO)
In December 2004, the company went public on the NASDAQ stock exchange under the ticker symbol “JOBS.” This move helped the company raise capital to support its growth and expansion.
2005: Expansion of Regional Offices
To extend its reach across China, the organization expanded its operations by establishing regional offices in key cities like Beijing, Guangzhou, and Shenzhen. This expansion allowed the company to better serve job seekers and employers nationwide.
2006: Launch of 51job University
Launched “51job University,” an initiative to provide professional training and development programs for job seekers. This service aimed to enhance job seekers’ skills and increase their competitiveness in the job market.
2011: Acquisition of HR Solutions Provider
In October 2011 they acquired HR Solutions, a company specializing in recruitment outsourcing and human resources services. This acquisition expanded 51job’s portfolio of services, allowing it to offer a broader range of solutions to its clients.
2014: Introduction of Mobile Apps
Introduced mobile apps for iOS and Android platforms. These apps enabled job seekers to search and apply for jobs conveniently using their smartphones.
2015: Acquisition of Yingjie Sheng
In April 2015 the firm bought Yingjie Sheng, a fast-growing job and internship site focused on recent college grads.
2017: Strategic Investment in Lagou
In September 2017 the company announced that it would invest USD $120 million in Lagou (拉勾) to obtain a 60% stake in the company. Lagou is a leading job platform in China focused on the IT sector.
2018: Strategic Partnership with WeChat
In June 2018, the company entered into a strategic partnership with WeChat, a popular messaging and social media platform in China. This collaboration aimed to enhance the recruitment experience by integrating 51job’s services with WeChat’s extensive user base.
2022: 51job is Taken Private
‘JOBS’ is delisted from the NASDAQ through a merger with Garnet Faith Limited, in a deal valued at around USD $4.3 billion.
What 51job Offers
51job (前程无忧) provides a range of services and features to both job seekers and employers in China. Here is a breakdown of the services and functions offered:
Job Search and Application
Job Search: Job seekers can browse and search for job opportunities posted by employers on the company website or mobile app. They can filter jobs by various criteria such as industry, location, salary, and experience level.
Application Submission: Those seeking employment can submit their resumes and application materials directly through the platform for specific job listings.
Creation: Job seekers can create and upload their resumes to the 51job platform, allowing employers to find their profiles easily.
Resume Search: Employers can search the extensive resume database to find suitable candidates for their job openings. They can use filters to refine their search based on qualifications, experience, and other relevant criteria.
Employers can create and manage company profiles to showcase their organization’s information, culture, and job openings. These profiles help in attracting potential candidates and enhancing employer branding.
Career Resources and Training
51job University: 51job (前程无忧) provides training and professional development programs through 51job University. Job seekers can access various courses, workshops, and resources to enhance their skills, career prospects, and job market competitiveness.
Career Advice: 51job (前程无忧) offers career guidance, articles, and resources to assist job seekers in navigating the job market, improving their resumes, preparing for interviews, and advancing their careers.
Recruitment Advertising: Employers can purchase advertising space on 51job to promote their job openings to a wider audience.
Recruitment Outsourcing: 51job offers recruitment outsourcing services, assisting employers in managing the entire recruitment process, including candidate sourcing, screening, and selection.
Background Checks: 51job provides background screening services to employers to verify candidate qualifications, employment history, and other relevant information.
51job offers mobile apps for iOS and Android platforms, allowing job seekers and employers to access its services conveniently on their smartphones and tablets.
Users Who benefit from 51job's Services
Job Seekers: Individuals looking for employment in various industries and roles can utilize 51job to search for job opportunities, apply directly to listings, create and upload their resumes, access career resources and training, and receive career advice.
Employers: Organizations of all sizes can benefit from 51job’s services. Employers can post job openings, search resumes, manage applications, create company profiles, utilize value-added services like recruitment advertising and outsourcing, and streamline their hiring processes.
51job’s growth, starting from its launch in 1998 has been solid and steady. Since going public in 2004, the company has publicly filed key figures on its growth. Here are a few of those highlights:
Annual Revenues went from RMB479.9 million (US$58.0 million) in 2004 to RMB4,420.4 million (US$693.7 million) in 2021, growing to nearly 11 times over!
Total User Base grew to 155 million by 2021.
Monthly Active Users (MAU) grew to nearly 20 million as of December 2022. In comparison, global HR giant ZipRecruiter has roughly 25 million MAUs.
Active CV Database grew to over 142 million by 2020.
How to Use 51job (前程无忧)
Job seekers can sign up on 51job for free via their mobile app or website. Once signed up, users can:
- Upload their CV and/or use the CV support tools.
- Search for and apply to jobs.
- Sign up and attend online recruitment events.
- Use the career development resource center.
- Exchange direct messages with employers & recruiters.
For Companies & Recruiters
To sign up as a company or recruiter, organizations will need a Chinese entity registered as well as an active legitimate office location in China. After entering company information, 51job staff will be in contact to act as an account manager.
Once a business account is created, 51job provides a comprehensive solution for talent acquisition and management. Its services encompass job posting, resume search, recruitment advertising, and recruitment outsourcing. With access to a vast pool of job seekers and advanced search functionalities, employers can efficiently identify and connect with qualified candidates that align with their specific hiring requirements. Additionally, 51job offers other value-added services such as background checks, enabling employers to make informed hiring decisions.
A limited amount of features are available with a free account. More features and usage amounts unlock with paid employer accounts (which make up a majority of company revenues).
In summary, 51job (前程无忧) is a prominent Chinese HR company that has revolutionized the job recruitment landscape in China. Through its comprehensive suite of services, user-friendly platform, and dedication to meeting the needs of both job seekers and employers, 51job continues to play a vital role in shaping the future of talent acquisition and career development in the Chinese job market.
In order to use the platform, companies & recruiters must have a valid company and office location registered in China. TeamedUp China has just that!
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References & Further Reading:
- 51job Website: https://www.51job.com/
- Market Screener: https://www.marketscreener.com/quote/stock/51JOB-INC-9784/news/51job-Inc-acquired-Yingjiesheng-com-for-CNY-250-million-38283555/
- Seeking Alpha: https://seekingalpha.com/article/4350254-51job-despite-short-term-pain-long-run-perspectives-look-bright
- Crunchbase: https://www.crunchbase.com/organization/51job
- China News: https://www.chinanews.com.cn/cj/2017/12-20/8405156.shtml
- Paul Weiss: https://www.paulweiss.com/practices/transactional/private-equity/news/dcp-capital-acquires-china-s-51job-in-take-private-deal-valued-at-43-billion?id=43047
- PRNewswire: https://www.prnewswire.com/news-releases/51job-inc-announces-the-establishment-of-51job-university-56453782.html
- Xueqiu: https://xueqiu.com/2287778230/179182343
- AIM Group: https://aimgroup.com/2019/11/15/51job-backs-huali-university-cdp-holdings-in-mixed-q3/
- Statista: https://www.statista.com/statistics/1211995/china-leading-hiring-apps-based-on-monthly-active-users/
- Wikipedia: https://zh.wikipedia.org/wiki/%E5%89%8D%E7%A8%8B%E6%97%A0%E5%BF%A7#cite_note-7