New York, NY, (June 23, 2009) Vault.com today introduced an entirely new approach to its Web presence, deepening its leadership in the career information and job search arena. The new Vault, in public beta, features improved navigation, vastly expanded content and optimized functionality. The site also provides a uniquely contextual and personalized user experience, underscored by the introduction of “My Vault,” a customizable career management portal. Today’s announcement was made by Erik Sorenson, Vault president and CEO.
“In 1996, Vault invented the concept of ‘insider’ career information. Today, Vault is taking a major leap forward to provide our ambitious, educated audience with a faster, more comprehensive and personalized experience,” said Mr. Sorenson. “Owning your career destiny today – whether you’re a new grad or an experienced boomer – requires constant investment and reinvention. Today’s Vault provides career-focused professionals of all ages with the in-depth, actionable intelligence required to make critical job and career decisions.”
Expanded Content: New Industries, Professions
The new Vault features vastly expanded content, increasing the number of industries it covers from 40 to nearly 200 and the number of professions from 60 to more than 400. The foundation of Vault’s content is the nearly 50 thousand employee and industry influencer surveys the company conducts each year. This research provides insight into the interview and hiring practices, salaries, advancement opportunities and corporate cultures of thousands of companies and industries. Vault’s employer profiles and industry rankings combine these insider reviews with expert commentary from Vault’s editors.
The new site includes new “hot” content categories, such as government, energy, healthcare and pharmaceuticals. Beginning today, the site will also include up-to-the-minute news and video from Dow Jones, thestreet.com and the Associated Press. To provide perspective on this industry news, the company is expanding its roster of blogs to more than a dozen. Written by Vault’s expert and guest editors, Vault will debut new blogs, including “In Good Company,” addressing corporate social responsibility, and “Admit One,” about higher education admissions and life.
“Vault is based on the premise that professionals need more and better information to navigate today’s complex career landscape. Success is dependent on understanding the playing field and knowing the players. We call it career intelligence,” added Mr. Sorenson. “These days, the game is changing faster than ever. Vault doesn’t just help you keep up; we give you the competitive edge.”
My Vault: Personalized Experience
The new Vault delivers a more relevant, contextual experience, which is designed to be responsive to the job seeker. At the core of this new approach is “My Vault,” a customizable career management portal. “My Vault” is a content organizational tool, through which users can access the latest information about their personalized list of target companies, industries and professions. Plus, Vault will deliver relevant information directly to their “My Vault” page – with news and content about organizations and jobs that are relevant to their interests and needs.
“Our goal is to provide a 360 degree experience for users – so that with every click, Vault surrounds our audience with the most relevant information for their career objectives,” said Sorenson.
The new Vault represents the first major redesign of the site since 2001. Late in 2007, private equity firm Veronis Suhler Stevenson (VSS) purchased a majority stake in the successful career information company. At the same time, Mr. Sorenson, a media industry veteran of NBC, CBS and Fox, took the Vault helm. Mr. Sorenson is charged with unlocking the considerable potential of the brand and business – and taking it to the next level of growth.
VSS, a New York-based media-focused investment firm, has further capitalized the company since the purchase to underwrite the additional investment in technology. “We know the Internet and we know the recruitment space,” said Trent Hickman, VSS Managing Director. “Vault.com is ideally positioned for growth with three distinct, meaningful revenue streams – advertising from employers and content purchased separately by both consumers and institutions. That’s an enviable advantage for any media company these days.”
Collaborative Employer Partner
The new Vault provides a vastly improved branding environment and expanded analytics for the company’s recruitment advertising partners. Vault works with premiere organizations across a number of industries, including 70 of the Fortune 100. Since January 2009, Vault has added more than 75 new recruitment advertising clients to its extensive advertiser list. As a collaborative employer partner, Vault provides a vital connection to its audience of highly-educated passive and active job-seekers. Two-thirds of Vault’s audience is experienced professionals and 25 percent have graduate degrees.
Technology & Design
The company engaged IBM to provide the state-of-the art technology platform that underpins the new Vault. IBM’s WebSphere is designed to set up, operate and integrate electronic business applications across multiple computing platforms, using Java-based Web technologies. Interactive firm Funny Garbage worked with Vault on the site design, navigation and functionality. Funny Garbage has been at the forefront of web design, interactive entertainment and broadcast production for more than 10 years.
Long before the term “consumer-generated media” was coined, the idea for Vault was born. The goal was to create a company dedicated to revealing what life is really like at the nation's top corporations and firms, in highly-competitive industries and jobs. In 1996, Vault set out to go beyond company brochures and institutional information — tapping directly into employees for their authentic perspective.
Today, Vault.com is the Web’s most comprehensive resource for career management and job search information, including insider intelligence on salaries, hiring practices and company cultures. Vault features thousands of profiles on occupations, industries, companies and universities, as well as career-related articles, videos, blogs and research tools. The company publishes more than 120 print and online titles, from the best-selling Vault Guide to the Top 100 Law Firms to the Vault Guide to Schmoozing. Vault’s clients include Fortune 1000 advertisers and recruiters, the country’s top universities and graduate schools.
**Note to the Media: Please contact Laura Gordon to obtain access to the site’s subscription content.