Recruitment advertising technology, also known as “recruitment ad tech,” is a relatively broad term that defines a number of analytics, automation and other digital tools used to promote open jobs on a variety of employment websites through a few key methods.
Essentially, if you advertise your jobs online on sites like Indeed, Monster, Dice or any number of other job aggregators or job boards, recruitment ad tech can help you increase your applicant volume while lowering the associated cost.
For early adopters of the technology, the benefits are clear, but with two-thirds of organizations stating they are having difficulty hiring today, it’s safe to assume that a knowledge gap still exists.
To help explain why you and your organization should consider adopting a recruitment ad tech solution, we tapped our team of in-house experts.
When you advertise an open job online there are a couple of ways to measure your return based on the talent acquisition goals of your organization. It might be by the number of applicants you receive, by how much you’re paying per click or per applicant, or it might be a more in-depth metric such as cost-per-quality-applicant or cost-per-hire. Regardless of which metrics you decide to measure success by, you’ll need some sort of analytics or reporting platform to get the insight you need into all of your online job advertising efforts. Unless you have the recruitment advertising technology to unearth these analytics or insights, you’ll be forced to dig this information up manually or try to run your strategy without it.
Manually digging for data, unfortunately, is an incredibly time-consuming process as it normally requires you (or whomever manages job advertising) to pull data from multiple dashboards (from each source you advertise jobs on) and organize them in a pivot table before you can make sense of the data. Those who chose to go without these insights are essentially shooting in the dark, as they’re unable to make any sort of data-driven decisions--and are therefore most likely creating waste in their budgets. However, with a recruitment advertising technology that has deep analytics capabilities, you’d be able to consolidate all of these dashboards into a single, easy-to-use platform where you can pull information quickly, just as you would from a product like Google Analytics.
As we discussed in a recent blog, one of the best ways to increase applicant volume while lowering the associated cost is by finding the right media mix--or by advertising your open jobs on a diversified list of job boards and aggregators. Doing so, however, can be time-consuming since each website you distribute to will have its own dashboard to monitor performance and to manage your live job advertisements.
Not only is the constant switching back and forth between dashboards time-consuming, but manual job distribution to many sources can also quickly become confusing and lead to errors in the execution of your strategy. Recruitment advertising technology that offers job distribution and consolidated vendor management not only saves you time by eliminating the need to switch between dashboards--consolidating them into one, easy-to-use platform--but it also makes it simpler to distribute your jobs to all of your sources with the click of a button and to execute against a more holistic strategy, rather than siloing your efforts onto each website you use.
While there are a number of ways to advertise jobs online, the most popular and often most effective is through the use of performance-based media, such as pay-per-click (PPC) job advertisements. Performance-based media, however, requires HR and talent acquisition professionals to place bids in order to drive eyeballs and clicks to their jobs. The more difficult the position is to staff, or the more popular the search term, the higher the bid. However, these bids fluctuate, and in order to get the best price, you’ll need to monitor your job advertisements and bid at exactly the right time.
This process is made easier, and dramatically cuts down on time consumption, if it can be automated by a programmatic recruitment advertising technology. Programmatic recruitment advertising technology allows users to set logic-based rules to govern when to start and stop spending, or when to increase or decrease bids, on jobs based on performance metrics. This technology can even reallocate funds from easy-to-fill jobs that are using up all of your budget, to struggling or hard-to-fill jobs that are getting little or none of your budget. The results? You’re money is spent where it’s needed most, eliminating waste from your budget and significantly decreasing the man hours needed to accomplish this efficiency.
While recruitment ad tech can help solve a number of deficiencies in your current talent acquisition strategy as described above, the most important takeaway is simply: it helps you save time and money. And, if you can find a single recruitment advertising technology platform that can address all aspects of reporting and analytics, dashboard consolidation, and automation and optimization, then you’ll have the greatest chance of increasing your ROI.
If you want to learn more about how recruitment advertising technology can make your talent acquisition efforts easier and more cost effective, then we’re here to help.
Sign up for a demo today to learn how Recruitics can help you get a better return on your recruitment marketing investment today.
