Until recently, most online recruiting strategies could be described as “post and pray.” This is when recruiters duration-based job ads on various job boards and hope that you get enough applications to make a hire before time runs out.
This is a gambling game where recruiters hope to get enough applications to fill their pipeline to make a hire. But do you have to gamble?
Pay-per-application came along in 2014 to help recruiters ensure they were paying for results. Pay-per-application sites, like Job2Careers, lets you post jobs for free, and pay only when an applicant submits a resume, making it an effective tool for recruitment marketing.
“We’re essentially treating job ads like real ads and allowing clients to buy more efficiently than ever before,” says Thad Price, VP of Product and Engineering for Jobs2Careers. “We’ve learned a lot from the digital ad world, and we want to see those successes for our clients in the recruitment industry.”
Here’s what you need to know about the latest technology and online recruiting strategies in the talent acquisition space:
1. How Pay-Per-Application Works
You set the price you’re willing to pay for an application using predictive analytics. Then, programmatic buying rules send your job ad into the talent marketplace, getting your jobs on thousands of sites and reaching candidates actively searching for your type of job. And you only pay for completed applications.
2. Pay-Per-Application Is Not Pay-Per-Click
This job posting method is designed to guarantee applications. Imagine you need to hire a nurse and you have an $800 budget:
- With traditional duration-based job ads, $800 could get your job posted on two traditional job boards, with an unknown outcome of how many clicks or applications the job will receive.
- With pay-per-click job ads, you pay for job seekers interested in viewing your job. You can use that same $800 to buy 200 clicks at $4 each. Now you have bought 200 clicks, but the number of applications is not guaranteed.
- With pay-per-application job ads, $800 guarantees 20 applications at $40 each, so you are guaranteed a specific number of candidates for the role.
3. The Cost of Applications for Your Jobs in Your Market
What’s an application worth to you? Predictive analytics can tell you how much you should pay and how many applications you should expect to receive per job in a 30-day period. A nurse in Minneapolis, for example, won’t be the same as a server in Austin.
For the first time, recruiters and hiring managers can understand the true value of an applicant and then make informed budget decisions and set realistic goals.
If you’re interested in trying pay-per-application job ads, HealthcareSource Position Manager® has an integration with Jobs2Careers. In addition to paying only for the applications you receive, the data Jobs2Careers receives allows the company to optimize your online recruiting strategies and campaigns to increase your job ads’ performance. Jobs2Careers’ client services team applies optimizations to your job ads to help them perform better over time through machine learning and client feedback.
Jobs2Careers is the leading programmatic marketplace to find talent. Using predictive analytics, the company enables recruiters to estimate the cost and applicant volume they can expect and only pay for completed applications. Jobs2Careers’ mission is to innovate the way talent effectively finds work, and work finds talent. The company was founded in 2010 by CEO Bruce Ge and is headquartered in Austin, TX. For more information, visit jobs2careers.com/employers.
Are you ready to start thinking more like a marketer using online recruiting strategies?
Download this whitepaper to learn how to use modern marketing tactics to improve your talent acquisition program and your own performance as a healthcare recruiter!
- What is Recruitment Marketing?
- Recruitment Marketing Software vs. Applicant Tracking Systems – It’s Not Either/Or
- Are You Having a Talent Emergency? Recruitment Marketing Edition (Infographic)