Attracting the right job applicants can be costly and time consuming, especially if you don’t use a job applicant tracking system to manage all hiring activity.
The hiring process can be so overwhelming that you might lose track of your total spend on job boards and other recruitment efforts. If this is the case, chances are you don’t have a process in place to measure ROI, determine which channels are sending you the most quality candidates and adjust job board spending accordingly.
Below, we’ve outlined several ways the right job applicant tracking system can help you be more strategic about job board spend while saving your business time and money.
Focus on Quality Over Quantity
Many businesses make the mistake of focusing on the total number of applicants to measure the success of recruitment efforts. And because of this, large sums of money are often spent on a single, high-traffic job board to sponsor a job posting at the top of the feed and receive as many applicants as possible.
But focusing on quality is much more important than quantity.
We define a quality applicant as someone who is qualified to advance to the candidate stage. Examining how many quality applicants are running through your hiring process may change your perspective on the best channels you use to staff up and how much you want to spend on each job board.
Proactively Recruit Candidates
One of the reasons HR managers and other business leaders might buy costly, one-off job board postings is because they have a reactive recruitment process in place – meaning they only recruit or hire new employees when there is an immediate opening. This leads to spending recruitment dollars inefficiently and rushing to get a new hire in the door by relying on a high volume of applicants, rather than taking the time to find the right fit.
By switching gears to be more strategic about your job board spend, you can set a monthly budget for total spend across channels, which also enables you to be more proactive about your recruitment efforts. Proactive recruiting saves time and money because it means you won’t be scrambling to buy a job board posting when an employee leaves, and you can build a pipeline of talent so you know where to turn when you have an opening. This is particularly helpful for high turnover and other roles you know you’ll be hiring for several times throughout the year – such as dealership auto technicians or sales staff.
Diversify Your Recruitment Channels
Once you buy a costly job board posting, if you realize it isn’t resulting in many quality candidates a few weeks down the road, there’s no way to adjust the spending or get your money back. Rather than putting all your eggs in one basket, partnering with a job applicant tracking system enables you to diversify your job board spend and automatically reach hundreds of the best local and national recruitment channels. These channels include local classified ads, social networks, specialty and mass media job boards. You can also select different sources depending on the position you’re recruiting for rather than using the same strategy each time you have an open role.
Optimize Your Job Board Spend
Chances are you have limited – if any – visibility into how effective job boards are for sourcing quality candidates, and you might continue spending money on a source that has limited ROI. By diversifying your recruitment channels instead of only focusing on 1-2 job boards, you can more effectively measure which ones are bringing in the most quality candidates and the total cost per hire – and eliminate the job boards that don’t result in quality candidates. Over time, this enables you to reach candidates through more sources while saving money that otherwise would have been spent on one costly job board posting.
Later this month, we’ll be launching our latest Insight, “What is my best source of applicants?” and a powerful new way to approach applicant sourcing and optimize job board spend. In the meantime, for additional information on following a proactive recruitment strategy, download our eBook, “Why Your Should Always Be Hiring.”