Whether you are experiencing a price increase, or its taking more paid postings to get the volume of candidates you need, now is a great time to re-evaluate your strategy when it comes to your job advertising. Are you optimizing your advertising dollars?
1. Know how many applications you need. The average number of applications that generates one hire for each open position in your organization is a foundational metric that is absolutely necessary to have to begin optimizing your recruitment advertising spend. The metric is based on historical hiring data and typically varies by job type, location and requirements.
2. Measure your Return on Investment. If you are tracking acquisition source in your ATS, you should be able to determine the gain (or loss) against the amount of money invested. What is yielding you your highest return? Your lowest? Use the answers to these questions to create a scorecard and build your strategy going forward.
3. Adjust for low-yielding ads. Do not just mindlessly copy and paste a job description. Put some thought into how you can improve the activity of the postings you do utilize. Ask your job board vendor how you compare to your competitors and what you can do to improve your results.
4. Consider investing in your website SEO. Many job seekers are “Googling” keyword terms to find companies that are hiring. Speak with a marketing expert about your options to drive more traffic to your own website’s job postings.
The bottom line? Job boards can be extremely beneficial if you use them properly, and this begins with finding the boards that are going to provide the best results for your business. If you follow these 4 steps, you greatly increase your odds of maximizing your spend while finding the candidates you need.