Insights from Q4 2022 Title Analysis:
During Quarter 4 of 2022, our Recruitment Marketing team took on a big task of researching what job titles perform the best on job boards. We looked at what candidates were searching for on job boards like Indeed for a variety of jobs, in different areas of the country.
Why did we do this?
Job boards like ZipRecruiter and Indeed are search engines, just like Google or Bing, but specifically tailored to job seekers. Your overall performance doesn’t just rely on your budget, it starts right at the beginning, at the job title.
The title of your posting can have a huge impact on your posts’ SEO and overall performance. If you are trying to place an HR Manager, but you title the job post as “Director of Fun & Safety”, chances are you might not receive a lot of applications. The reason why: no one is activity searching “Director of Fun & Safety” when they go to a job board, so the algorithm isn’t going to display that post very high.
We took this concept a step further with our research. Candidates looking for a home health aide position in Florida are probably searching for different titles or keywords compared to what the same candidate in California is searching for.
It’s important to research and then test titles to see what works and what doesn’t work.
For example, if you are placing an Administrative Assistant, you might have more success posting the position as “Office Assistant, if you are in North Dakota, but might see more success posting the job as “Front Desk Receptionist” if you are in Nebraska.
The takeaway; you need to be intentional with every aspect of your recruitment marketing efforts, even with things as simple as job titles. By conducting research on Indeed Hiring Insights or Google for Jobs, you can work on getting more out of your efforts for the same or even less!
Big Data: – What is Haley Marketing Seeing?
What is the Data Telling us?
There is still a lot of uncertainty with the overall economy, but one thing is for sure, the labor market is still very hot.
In January’s jobs report, it was reported that over 500,000 net new jobs were added, with unemployment continuing to be at a record breaking low of 3.4%, the lowest we have seen since 1969.
This is an unusual time to be in staffing and recruiting. To help there, our team wanted to share what we’ve seen throughout the initial stages of 2023 and what to start thinking about to improve your overall efforts.
- Overall Cost is Down
- At Haley Marketing, we are seeing both cost-per-click and cost-per-application decrease so far in 2023 compared to 2022. With cost-per-application decreasing by almost 30%, it indicates that recruiter’s jobs may become a little easier, but you need to think about how to react to this to best fulfill your company’s goals and needs. Is it decreasing your budget? Reallocating funds to strengthen other aspects of the business? Doubling down to take advantage of the market and to help build up your talent pipeline? Make sure whatever you are doing makes sense for where you want your company to go.
- Candidates are applying more often
- Our data from 2023 is showing that application conversion rates have increased 14% compared to 2022. While this doesn’t seem like a huge increase, in a tight labor market this is a great sign! Now is the time to ensure you are being intentional with your job advertising strategy. If candidates are applying more often than in the past, what are you doing to capitalize for your business? Do you have application or spend limits in place? Are your recruitment marketing funds going to what is driving the most revenue? Applications increasing is good, but adjusting your strategy to account for this shift is even better.
Tip/Trick of the Month:
Tracking Cost all the Way to a Placement – Why is it Important?:
Here at Haley Marketing, our Recruitment Marketing team looks at a variety of different cost metrics; cost-per-click, cost-per-application, etc. But one way to measure cost that doesn’t get enough attention is your cost-per-placement.
Why is tracking cost all the way to a placement important?
First of all, tracking placements can be a great way to evaluate your overall recruiting efforts and can be helpful to measure if your strategies are working or not. In addition though, it’s just as important to track the cost of making a placement, and combine that with your business’s overall strategy.
For example: let’s say your company primarily staffs in two different states, New York and California.
Your cost-per-application in California is 5 times higher than it is in New York, so it may seem like New York should be where you prioritize your efforts.
Although New York is providing more candidates, it may be tougher to fill a placement, whether this is from unqualified candidates, a delay in the dispatch process, etc. On the other hand, candidates you receive in California, are very qualified, and can start right away.
If your team is tracking the costs of your job ads all the way to the placement, you may see that California has a lower cost-per-placement than New York, because the rest of the placement process is more efficient and stronger than in NY.
By tracking your cost-per-placement, you can see what’s truly bringing in the most ROI for your company, and you can use that information to become more intentional with your recruiting strategies!
Are you ready to learn more about how Haley Marketing and the recruitment marketing team can help drive improved results from your job advertising budget? Contact our team today to learn more and set up a free recruitment marketing consulting call!