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	<title>AIM Group &#187; Spain</title>
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		<title>Spanish company Vocento reports loss of several million Euros</title>
		<link>http://aimgroup.com/2012/08/17/spanish-company-vocento-reports-loss-of-several-million-euros/</link>
		<comments>http://aimgroup.com/2012/08/17/spanish-company-vocento-reports-loss-of-several-million-euros/#comments</comments>
		<pubDate>Fri, 17 Aug 2012 14:50:05 +0000</pubDate>
		<dc:creator>Cristina Costa</dc:creator>
				<category><![CDATA[Financial results]]></category>
		<category><![CDATA[Spain]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[classifieds]]></category>
		<category><![CDATA[financial results]]></category>
		<category><![CDATA[Infoempleo]]></category>
		<category><![CDATA[spain]]></category>
		<category><![CDATA[vocento]]></category>

		<guid isPermaLink="false">http://aimgroup.com/?p=27945</guid>
		<description><![CDATA[
    The message of the new board of directors is clear: Business figures could have dropped even more in the current economic crisis in Spain. So the company communicated in its press note (here in English) that the company “outperformed the market” in the first half of 2012 due to its efforts to improve quality and [...]]]></description>
	
    			<content:encoded><![CDATA[<p>The message of the new board of directors is clear: Business figures could have dropped even more in the current economic crisis in Spain. So the company communicated in its press note (<a href="http://www.vocento.com/en/notas-vocento-obtiene-ebitda-208-millones-20120727.php">here</a> in English) that the company “outperformed the market” in the first half of 2012 due to its efforts to improve quality and profitability in the print media area, new sales strategies and sources of revenues.</p>
<p>Vocento is one of the leading media companies in Spain, with several newspapers (ABC, El Correo, El Diario Vasco, El Norte de Castilla, Las Provincias and 7 regional newspapers), presence in television and radio broadcasting, and classifieds with vertical portals for vehicles (autocasion.com), jobs (Infoempleo), real estate (pisos.com) and the marketplace tusanuncios.com. Currently the company is also suffering from a dispute among shareholders about the leadership of the stock-listed company (<a href="http://aimgroup.com/2012/03/26/vocento-shareholders-battle-over-executive-board-because-of-bad-financial-results/">see here</a> for our report).</p>
<p>Though Vocento´s revenues dropped over 12 per cent by EUR 45.5 million compared to the first half of 2011, the leading Spanish media company with strong assets in the newspaper, audiovisual and internet market, could safeguard and EBITDA of EUR 20.8 million. Nevertheless if one looks at Vocento´s net income, the company has posted a loss of EUR 18.5 million compared with a EUR 4 million loss a year before.</p>
<p>Mainly cause of this negative trend was the closure of the print edition of newspaper “Qué” that left Vocento with an impact in write-down of EUR 19.1 million alone.</p>
<p>Vocento point out in its press note, that the group is restructuring businesses with a new sales strategy and the launch of the Única 3.0 advertising rate, the “Kiosko y Más” pay-platform with audivisula content and the new service Oferplan.com, which gives advertisers the possibility to promote discounts to readers of Vocento´s digital editions.</p>
<p>In the different operating areas, Vocento posted in print media revenues of EUR 203.9 million (minus 12.3 per cent) and an EBITDA of only EUR 13.8 million. The audiovisual area contributed EUR 54.8 million to revenues (minus 19.8 per cent) and a positive EBITDA of EUR 5.4 million.</p>
<p>Though the internet business area is the only segment with a positive trend, a fact proved by a growing percentage of internet advertising revenues, which now represent 15.2 per cent of all advertising revenues (1H 2011: 13 %), the figures are also only at first sight in the black. With total revenues of EUR 27.9 million, less 1.4 per cent compared to a year before, Vocento obtained only an EBITDA of 410,000 Euros from its digital business. The loss from the digital business even increased the last 12 months with a negative EBIT of EUR 1.8 million.</p>
<p>Also the figures coming from online classifieds are not positive: Though Vocenbto is the only classical media group with a nationwide classifieds advertising network in Spain, with leading portals in all verticals, the company is still not gaining money with this business area. In fact revenues from classifieds are currently decreasing. In the first half of 2012 Vocento gained less 6 per cent from classifieds with EUR 7.301 million than the year before and the negative EBIT increased to EUR 2.4 million already this year. The only positive sign for the classifieds business remains the fact that classifieds have somehow also outperformed the market with a growth of advertising of 9 per cent, while the market had an average growth of only 5 per cent according to the panel InfoAdex. So investments made are not paying out at the moment due to high operational costs and the weak demand in the country.</p>
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		<title>Infoempleo.com lanza su nuevo portal, conectando empleo y redes sociales</title>
		<link>http://aimgroup.com/2011/06/17/infoempleo-com-lanza-su-nuevo-portal-conectando-empleo-y-redes-sociales/</link>
		<comments>http://aimgroup.com/2011/06/17/infoempleo-com-lanza-su-nuevo-portal-conectando-empleo-y-redes-sociales/#comments</comments>
		<pubDate>Fri, 17 Jun 2011 06:13:39 +0000</pubDate>
		<dc:creator>AIMGroup</dc:creator>
				<category><![CDATA[Spain]]></category>
		<category><![CDATA[World news releases]]></category>

		<guid isPermaLink="false">http://figgynewton.com/aim/?p=24072</guid>
		<description><![CDATA[
    Published June 17, 2011 14 June, 2011 – http://www.infoempleo.com Infoempleo.com estrena su nuevo portal con importantes cambios que mejoran la experiencia del candidato y de la empresa. Entre las múltiples novedades que trae el nuevo Infoempleo.com, destaca la posibilidad que ahora tienen los usuarios de registrarse y conectarse a través de http://www.facebook.com Facebook, http://www.twitter.comTwitter o http://www.linkedin.com Linkedin. De esta forma, Infoempleo.com permite a [...]]]></description>
	
    			<content:encoded><![CDATA[<h2></h2>
<div>Published June 17, 2011</div>
<div>
<p>14 June, 2011 – <a href="http://www.infoempleo.com/">http://www.infoempleo.com</a> Infoempleo.com estrena su nuevo portal con importantes cambios que mejoran la experiencia del candidato y de la empresa.</p>
<p>Entre las múltiples novedades que trae el nuevo Infoempleo.com, destaca la posibilidad que ahora tienen los usuarios de registrarse y conectarse a través de <a href="http://www.facebook.com/">http://www.facebook.com</a> Facebook, <a href="http://www.twitter.com/">http://www.twitter.com</a>Twitter o <a href="http://www.linkedin.com/">http://www.linkedin.com</a> Linkedin. De esta forma, Infoempleo.com permite a los candidatos completar su CV y acceder a su área personal de una forma más rápida y cómoda.</p>
<p>Lo primero que llamará la atención al usuario de Infoempleo.com es el nuevo diseño, dónde se ha disminuido la carga visual, consiguiendo un equilibrio entre limpieza y usabilidad, y facilitando al usuario la navegación en el portal.</p>
<p>Otra de las novedades más destacadas es la mejora del buscador de empleo, con nuevas áreas y subáreas de empleo, que permite a los candidatos afinar mejor sus búsquedas de empleo y encontrar las ofertas que más se ajustan a su perfil.</p>
<p>Secciones tan importantes como Formación, Empleo Internacional o Primer Empleo han sufrido también una profunda renovación, con el objetivo de ayudar al candidato en la búsqueda de empleo o de la formación que necesita.</p>
<p>Las empresas también podrán encontrar importantes novedades en Infoempleo.com a partir de hoy. Lo más destacado es la <a href="http://blog.infoempleo.com/saladeprensa/2011/06/06/%e2%80%9ctrabaja-con-nos">http://blog.infoempleo.com/saladeprensa/2011/06/06/%e2%80%9ctrabaja-con-nos</a>otros%e2%80%9d-una-nueva-aplicacion-de-facebook-para-empresas-desarrollada-p or-infoempleo-com/&gt; posibilidad de hacer multiposting en Facebook y publicar sus ofertas de empleo en la fanpage de la empresa directamente desde el portal.</p>
<p>Además las empresas apreciarán una importante mejora de la usabilidad, facilitándoles tanto la publicación de sus ofertas de empleo como la gestión de sus procesos de reclutamiento y selección.</p>
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		<title>PRISA achieves revenues of 690.9 million euros and EBITDA of 100.4 million euros</title>
		<link>http://aimgroup.com/2011/06/17/prisa-achieves-revenues-of-690-9-million-euros-and-ebitda-of-100-4-million-euros/</link>
		<comments>http://aimgroup.com/2011/06/17/prisa-achieves-revenues-of-690-9-million-euros-and-ebitda-of-100-4-million-euros/#comments</comments>
		<pubDate>Fri, 17 Jun 2011 06:12:57 +0000</pubDate>
		<dc:creator>AIMGroup</dc:creator>
				<category><![CDATA[Spain]]></category>
		<category><![CDATA[World news releases]]></category>

		<guid isPermaLink="false">http://figgynewton.com/aim/?p=24070</guid>
		<description><![CDATA[
    Published June 17, 2011 5th May 2011- These figures, adjusted for nonrecurring items, reflect 3.2% growth in revenue and 2.4% growth in EBITDA · The Pay tv increases its number of subscribers, totaling 1,813,287 at 31 March. Subscriptions to value-added iplus services (368,583 customers) increased by 21% in this quarter and account for 21% of the [...]]]></description>
	
    			<content:encoded><![CDATA[<h2></h2>
<div>Published June 17, 2011</div>
<div>
<p>5th May 2011- These figures, adjusted for nonrecurring items, reflect 3.2% growth in revenue and 2.4% growth in EBITDA</p>
<p>· The Pay tv increases its number of subscribers, totaling 1,813,287 at 31 March. Subscriptions to value-added iplus services (368,583 customers) increased by 21% in this quarter and account for 21% of the total.</p>
<p>· Santillana’s total revenue increased by 13%, led by Brazil with 28% growth.</p>
<p>· Revenue from Press grew by 9.3% driven by good performance in circulation and promotions, which partly offset the downturn in advertising.</p>
<p>· In Latin America revenue grew by 20.3% and it currently accounts for 29% of the Group-wide total.</p>
<p>· Number of average unique browsers of ElPais.com increased by more than 50% YOY.*</p>
<p>· Cadena SER Radio, with a total audience of 4,695,000 listeners continues to attract the highest number of new listeners, underpinning its market leadership</p>
<p>PRISA today announced its financial and operational results for the fiscal quarter ended March 31, 2010. In the first quarter the Group achieved revenue of 690.9 million euros and EBITDA of 100.4 million euros, These figures, adjusted for nonrecurring items, reflect 3.2% growth in revenue and 2.4% growth in EBITDA .</p>
<p>The Chairman of the Executive committee of the Board and CEO, Juan Luis Cebrián, declared: “The first quarter earnings reflect the excellent performance we have been attaining in Latin America in our Radio and Education segments, as well as solid growth in the circulation of El País and the number of Digital+ subscribers, all of this hampered, however, by the weak economic situation in Spain, and particularly its impact on advertising spending,”. “It is also important to note that the reported earnings include certain extraordinary items. Therefore, for clarity, excluding those items, the growth in revenue was 3.2% and our EBITDA improved by 2.4%”.</p>
<p>“PRISA’s extensive portfolio of assets includes leading brands in several markets and segments, and we at the company are focused on realizing all its potential, both in Spain and in the international markets where we do business,” observed Cebrián. “In line with our strategy of achieving these objectives, we remain committed to implementing the restructuring plan, while consolidating our business operations and financial position. Though there is still a lot of work to do, I am convinced that our current strategy is correct and will let us achieve sustainable profitability and growth in the future.”</p>
<p>* Omniture site Catalyst</p>
<p>Main figures by business area:</p>
<p>* In the Audiovisual area, revenue totaled 313.7 million euros, and adjusted EBITDA totaled 36.6 million euros. Both items decreased slightly compared to the same quarter last year. Adjusted EBITDA margins totaled 11.7%, remaining stable compared to the same quarter last year. At the end of the first quarter, the pay tv had 1.81 million subscribers, which means achieving positive net adds in the first quarter of 13,049 to DTH compared to -46,960 in the same period previous year and 15,664 positive net adds to wholesale distribution and DTT. Subscribers to iPlus and Multi+ value-added services rose by more than 20% in the quarter. * Revenue in Santillana was 185.8 million euros, up 12.8% compared to the same quarter last year, driven by impetus from the revenue in Brazil, which rose 28.3%. Adjusted EBITDA reached 63.6 million euros, a 17.1% improvement over the same quarter last year. The adjusted EBITDA margins improved 130 basis points compared to last year, to 34.3%. * Revenue in the Radio area totaled 83.4 million euros, remaining stable compared to the same quarter last year. Earnings in Spain were negatively impacted by deterioration of Spain’s advertising market, though this was offset by ongoing strong growth in Latin America, where revenue grew 14.6% compared to the same quarter last year. Adjusted EBITDA totaled 16.9 million euros and the adjusted EBITDA margin 20.2%, both slightly better than the same quarter last year. * Revenue in Press was 105.5 million euros, 9.3% higher than the same quarter last year. Adjusted EBITDA totaled 12.9 million euros, a 73.2% improvement over the same quarter last year, mainly due to especially strong growth in the circulation of El País and Cinco Días and good performance from promotions that offset weakness in the Spanish advertising market. Adjusted EBITDA margins improved 450 basis points compared to the same quarter a year earlier, to 12.2%. * The Digital business achieved a monthly average of 69.5 million unique browsers in the first quarter, a 51.1% increase compared to the same quarter last year, thanks to strong, two-digit growth recorded by As.com, ElPais.com and CincoDías.com. * Advertising revenue totaled 144 million euros, down 3% from the same period the previous year due to the negative impact of deterioration in Spain’s advertising market. * Market conditions remain stable in all of the business areas except advertising, which is still being affected by macroeconomic factors, especially in Spain and Portugal.</p>
<p>The comparison of first-quarter earnings is affected by the fact that Cuatro ceased to be part of the consolidation in 2011. The comparison is also impacted by extraordinary items recorded under revenue and expenses in the same period both in FY 2011 and FY 2010. Therefore, to conduct a homogeneous comparison, we are presenting a pro forma profit and loss account showing the 2010 earnings of Cuatro as a discontinuing operation and we adjust the extraordinary items:</p>
<p>*Extraordinary items for revenue are recorded in the audiovisual area **Extraordinary items for expenditures are recorded in all business units ***Reported 2010 figures include Cuatro by Global consolidation</p>
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		<title>Vocento obtains positive net income of 0.3 million euros in the first quarter of the year, with improving EBITDA in Print Media</title>
		<link>http://aimgroup.com/2011/06/17/vocento-obtains-positive-net-income-of-0-3-million-euros-in-the-first-quarter-of-the-year-with-improving-ebitda-in-print-media/</link>
		<comments>http://aimgroup.com/2011/06/17/vocento-obtains-positive-net-income-of-0-3-million-euros-in-the-first-quarter-of-the-year-with-improving-ebitda-in-print-media/#comments</comments>
		<pubDate>Fri, 17 Jun 2011 06:12:12 +0000</pubDate>
		<dc:creator>AIMGroup</dc:creator>
				<category><![CDATA[Spain]]></category>
		<category><![CDATA[World news releases]]></category>

		<guid isPermaLink="false">http://figgynewton.com/aim/?p=24068</guid>
		<description><![CDATA[
    Published June 17, 2011 Madrid, 13 May 2011.- Vocento reported net income of 0.3 million euros in the first quarter of the year, compared to a negative result of -5.2 million euros in the same period in the previous year. The brand-based strategy of the group has enabled it to consolidate its leadership of the press [...]]]></description>
	
    			<content:encoded><![CDATA[<h2><span class="Apple-style-span" style="font-size: 13px; font-weight: normal;">Published June 17, 2011</span></h2>
<div>
<p>Madrid, 13 May 2011.- Vocento reported net income of 0.3 million euros in the first quarter of the year, compared to a negative result of -5.2 million euros in the same period in the previous year. The brand-based strategy of the group has enabled it to consolidate its leadership of the press market, with more than 4.5 million readers, according to EGM, to increase the market share of ABC, and to progress in the positioning of Internet and Audiovisual.</p>
<p>In the first three months of the year, revenues were 174 million euros, only 0.9% below the level of the same period in 2010. Advertising spend in the first quarter of 2011 declined by 3.4% due to the unfavourable macroeconomic conditions, but it should be noted that the print media area has outperformed the market, with a decline of -5.6% compared to the -10.2% contraction of the press market, according to InfoAdex. In addition, Internet advertising revenues are continuing to grow, increasing by 10.4% in the quarter.</p>
<p>The adjusted EBITDA of the quarter was 8.1 million euros, compared with 9.6 million euros in the same quarter of 2010, with the comparison affected by the investments made in 2011 to create value in TDT business and by the impact of seasonality in the Content area, when compared to the same period in 2010.</p>
<p>And thanks to the capacity of Vocento to absorb the decline in revenues, as a result of the operational gearing that has been established at the Company, there has been a significant improvement in the adjusted EBITDA of the Print Media area (+2.8 million euros) and in the Internet area, which reached break even with an EBITDA margin of 3%.</p>
<p>The group’s strategy of leading brands, focused on the creation of multichannel content, has attracted new audiences and advertisers, and has strengthened the position of Vocento in Internet and Audiovisual, which now represent 25.8% of the revenues of the Group.</p>
<p>The net result of the quarter was 0.3 million euros, compared to the negative result of 5.2 million euros in the first quarter of 2010.</p>
<p>The improvement of the net financial position should also be mentioned, with net debt of 99.5 million euros, 21,1 million euros less than at the end of 2010, clearly differentiating the Group from the competition.</p>
<p>Results by business area</p>
<p>In Print Media, Vocento consolidated its leadership of the press, with 4.5 million readers, according to the latest EGM survey. In a context of general declines in circulation, ABC won market share from its immediate competitors, with circulation down only 4.1%, compared to 11.8% for El Mundo and 16.9% for La Razon. The Vocento newspaper is continuing to close the gap with El Mundo: in March the gap fell to less than 14,000 copies. In addition, on Sundays, ABC is the only national daily to attract new readers, winning 250 thousand readers since 2007, while El Mundo has lost more than 290,000 readers in the same period.</p>
<p>The advertising revenues of the print media of Vocento have generally outperformed the market. Compared to the 10.2% decline of the market, ABC reported only a 2.5% drop, the regional press reported a fall of 8.4%, while Supplements and Magazines (XL Semanal, Mujer Hoy, Hoy CorazÃ³n, Pantalla Semanal and InversiÃ³n &amp; Finanzas) maintained the level of advertising revenues, and QuÃ©! reported an increase of 1.2%.</p>
<p>The EBITDA of the area, when adjusted for the investment made in restructuring, was 9.8 million euros, 39.3% more than in the first quarter of the previous year, implying an improvement in profitability of 2.7 percentage points, despite the fall in advertising spend. This improvement in profitability was achieved at both Regional Press and ABC, where EBITDA improved by more than 2.9 million euros.</p>
<p>In the Audiovisual area, revenues increased by 12.2% to 31.2 million euros, due to the increased revenues from DTT following the launch of La 10 and MTV, with revenues up by more than 48%. In radio, despite the difficult competitive environment, Punto Radio consolidated its audience above 500,000 listeners (Mondays to Fridays), according to the latest EGM survey of April 2011.</p>
<p>The adjusted EBITDA of the area was -0.3 million euros, due to the investment made in DTT, following the launch of “La 10″ at the end of 2010, and to seasonality in Content, which impacted the comparison for the first quarter by 3.0 million euros. This was a result of delays in the schedules of the production companies and the impact of film distribution windows.</p>
<p>Internet again reported positive results which demonstrate the future potential of this business area. Advertising revenues increased by 10.4%, with Internet now representing 12.5% of the total advertising revenues of the Group. The combined brand strategy is reflected again in this quarter in the advertising revenues of ABC.es with an increased of 23% vs. 18.5% according to InfoAdex.</p>
<p>The growth in advertising spend and the control of costs enabled an improvement in adjusted EBITDA, reaching a positive level of 0.4 million euros.</p>
<p>Vocento</p>
<p>Vocento is a leading multimedia company in Spain, thanks to the strength of its brands, which have a significant presence in all areas of information and entertainment, including the press, supplements, magazines, television, radio, audiovisual production, movie distribution, and the Internet. The strength of Vocento’s nationwide, regional and local brands, and its permanent commitment to innovation, enable the company to extend its reach beyond its competitors, covering over 32.8 million people, according to the EGM. More information at <a href="http://www.vocento.com./">www.vocento.com.</a></p>
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		<title>InfoJobs crea el CV Visual y una nueva plataforma para capturar empleo</title>
		<link>http://aimgroup.com/2011/06/17/infojobs-crea-el-cv-visual-y-una-nueva-plataforma-para-capturar-empleo/</link>
		<comments>http://aimgroup.com/2011/06/17/infojobs-crea-el-cv-visual-y-una-nueva-plataforma-para-capturar-empleo/#comments</comments>
		<pubDate>Fri, 17 Jun 2011 06:10:53 +0000</pubDate>
		<dc:creator>AIMGroup</dc:creator>
				<category><![CDATA[Spain]]></category>
		<category><![CDATA[World news releases]]></category>

		<guid isPermaLink="false">http://figgynewton.com/aim/?p=24066</guid>
		<description><![CDATA[
    Published June 17, 2011 InfoJobs crea el CV Visual y una nueva plataforma para capturar empleo  InfoJobs Labs, el departamento de innovación de la web de empleo, presenta sus últimas propuestas  La nueva web gratuita InfoJobs Local, fomenta la colaboración de las personas para detectar empleo  El CV Visual permite una reducción del [...]]]></description>
	
    			<content:encoded><![CDATA[<h2></h2>
<div>Published June 17, 2011</div>
<div>
<p>InfoJobs crea el CV Visual y una nueva plataforma para capturar empleo</p>
<p> InfoJobs Labs, el departamento de innovación de la web de empleo, presenta sus últimas propuestas  La nueva web gratuita InfoJobs Local, fomenta la colaboración de las personas para detectar empleo  El CV Visual permite una reducción del tiempo invertido en la selección de candidatos de un 80% y ofrece una gestión de los RR.HH más ágil y eficiente</p>
<p>InfoJobs Labs, el departamento de innovación de la web líder de empleo en España presenta InfoJobs Local, un nuevo portal gratuito orientado al empleo de proximidad y el CV Visual, un rompedor formato que ofrece una gestión más ágil y eficaz de los recursos humanos. InfoJobs Local es un nuevo site destinado al empleo de proximidad cuyo objetivo es fomentar la labor colaborativa de las personas para capturar las vacantes de trabajo. Este nuevo portal hace foco en el mercado de trabajo que se genera alrededor de los comercios a pie de calle, en el que la oferta de empleo tiene muy poca visibilidad. Cualquier persona que observe un anuncio de empleo en un local puede, de una manera muy simple, informar sobre esta oferta, haciéndola visible en Internet y consiguiendo de esta manera, darle mayor visibilidad. Además, InfoJobs Labs ha creado el CV Visual. En los últimos 50 años, la selección de personal se ha visto articulada alrededor de un formato que no ha sufrido ninguna variación a lo largo de este tiempo, el CV tradicional, cuya estructura ha ido menguando en eficacia. InfoJobs, valiéndose de su experiencia de más de 10 años en la gestión de los RR.HH y de su voluntad por aportar al mercado productos que se adapten a las nuevas necesidades, ha creado el CV Visual. El CV Visual ofrece un mapa de la vida laboral del candidato presentando el contenido tradicional de un currículum de forma más precisa y clara. Este nuevo formato permite: – Una visión global de la carrera profesional del candidato – Conocer de forma precisa y rápida su proyección y evolución tanto sectorial como por categoría profesional – Perspectiva en la lectura de la información – Profundizar en detalles y detectar incoherencias u oportunidades de forma clara El CV Visual es además más sostenible y eficiente económicamente, ya que agiliza la búsqueda y reclutamiento de talento reduciendo el tiempo habitual que supone la selección de candidatos en un 80% y permite un elevado ahorro de espacio y de costes ya que la extensión de un CV tradicional, 4 páginas, queda reducida a una sola página. Este nuevo formato supone también una herramienta útil para los candidatos, ya que presenta su trayectoria de una forma más clara por lo que facilita su lectura e interpretación. Con el lanzamiento del CV Visual, InfoJobs busca la estandarización del formato de currículum en base a las necesidades del mercado y abre el camino a la lectura de CVs sobre dispositivos móviles y digitales, deslocalizando la gestión de los RR.HH del entorno de la oficina. Estas dos novedades se presentan en fase Beta siguiendo así la estrategia de InfoJobs Labs de lanzar al mercado innovaciones en versión de pruebas. El objetivo es optimizar el desarrollo de los nuevos lanzamientos en base a las opiniones recibidas de los usuarios.</p>
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