If the metrics described above seem painfully familiar – in regards to Indeed or other job boards – it’s because you’ve realized you’re getting fewer applicants for the same budget when advertising your open positions. It also means it’s time to reevaluate your efforts and shake things up in 2024.
The Significance of CPA
To hire the best talent, you need to cast a wide net, but at the same time ensure that your expenses are justified. The ROI of hiring operations has never been more important than in today’s market climate.
- Cost per application (CPA) is a key metric for assessing your sourcing channels. It measures the sum of the resources required to convert a single candidate into an applicant and is a direct measure of the volume of applications you can expect to receive based on your budget. To calculate this number, start with the dollar cost of preparing and posting a job listing. Then divide it by the number of applicants. The result – good or bad – can often be a real eye-opener.
Create a Structured Campaign for Each Role
An easy mistake to make is lumping all your job postings into a single plan of action. Instead, build a structured campaign for each posting, with corresponding budget numbers for every line item.
- Start with job boards. There is a plethora of them, for various purposes. These include local and national boards, as well as those that are generic and others that are specific to industries, roles, services, and sectors. A keyword in any advertising campaign is “tailored.” In all you do, tailor your tactics to your purpose; in this case, the particular job you need to fill.
- As you structure and customize, be creative and keep other effective approaches in mind. They should include your career site, social media, employee referral program, and networking events. Also consider newer innovations like geo-fencing, which leverages GPS to send messages to targeted audiences on their smartphones. And, don’t disregard more traditional methods like billboards and university and freelancing websites.
The Significance of Titles
The right job title can make or break not just whether an individual applies for your job, but even finds it in the first place. Candidates search for specific titles based the specific role they are looking to apply to, or based on the industry. It’s the first thing they look at – and if your efforts backfire, they could never see it at all.
- Every title must be searchable and clear. While unique, quirky titles may seem tempting, you’re generally better off with generic ones that will quickly show up in candidate searches. Be sure your titles include relevant industry terminology and aren’t too complex.
- Avoid title creep. If a position seems above a candidate’s pay grade, they could be intimidated and avoid it. The reverse can also be true, so be intentional with your wording. Remember, titles mean different things to job seekers than they do to your HR department.
For additional guidance on crafting your job posting campaigns, as well as your overall recruitment advertising and marketing strategy, contact Haily Marketing today.