Finding the right talent in 2016 may be more difficult than at any other time in recent memory.
In fact, research by the Society for Human Resource Management (SHRM) shows that more than two-thirds of today’s hiring companies cannot find the right candidates they’re looking for. That number is up from half of all hiring companies surveyed in 2015.
Experts at SHRM say there are a number of factors contributing to this difficult hiring climate, including “a low number of applicants, lack of needed work experience among those that do apply, competition from other employers and a lack of technical skills among job applicants.”
As we discussed in a recent post, this hiring climate has created a war for talent amongst leading organizations. In order to combat it and find the talent you need to drive business, you’ll have to implement, and execute against, a diversified recruitment marketing strategy.
With that said, let’s take a look at how two different methods of advertising jobs online--sponsored jobs and job slots--can work hand-in-hand to provide you with a greater ROI for your recruitment marketing efforts:
- Create a balanced approach: Understanding the difference between job slots and sponsored jobs is critical to understanding how they can provide a balanced approach to recruitment marketing. Job slots allow recruiters to post jobs at a low cost for an extended period of time. Sponsored jobs allow recruiters to target a very specific candidate audience for any period of time. Together, sponsored jobs allow recruiters to fill time-sensitive positions and pipeline positions without breaking their budget.
- Cast a wider net: When it comes to advertising your jobs online, the recruiter is limited by what the vendor offers. Each vendor will offer different methods by which to advertise your open positions and different price structures for those methods. Because of this, some sites provide a greater ROI to job slots while others provide a greater return for sponsored jobs. By using sponsored jobs in conjunction with job slots, you can cast a wider net without breaking the bank. For instance, LinkedIn is one site where a recruiter will most likely see the greatest ROI through the utilization of job slots and less so with PPC, so the recruiter should buy their job slots with LinkedIn, and post their sponsored jobs to an aggregator like Indeed, where the ROI is greatest for that method of advertising jobs. Doing so will allow you to keep your cost of recruitment low, while maximizing visibility to your open positions.
- Use your budget more wisely: Once you’ve begun advertising jobs online, one truth becomes abundantly clear: Some jobs are simply harder to fill than others--and those jobs are usually budget busters. With sponsored jobs, a recruiter is working with performance-based media--these are job advertisements where the cost of the ad depends on the number of conversions that source attracted. Therefore, since a recruiter is clicks and/or applications with their sponsored jobs’ budget, a hard-to-fill position such as a director of marketing role could end up costing more than you expected in the long run. With these positions, you might want to consider moving these hard-to-fill rolls over to job slots where they can sit for longer, at a much lower cost, and save your budget to sponsor jobs you can fill more quickly. Doing so will help you identify which positions need to be advertised through each method to create a more cost-efficient strategy.
Clearly, using sponsored jobs and job slots hand-in-hand should be the go-to method for any recruitment marketing professional. However, your ability to effectively manage these two methods of advertising jobs online is dependent on your ability to analyze campaign- and job-level data for all of your online job postings.
Sign up for a demo today and learn how Recruitics can help you better understand your recruitment marketing strategy, cut wasted spend from your budget and produce a greater ROI.
Posted by Sal Trifilio