Level set on traditional job advertising
Who can remember job advertising before the internet? Thankfully, posting a newspaper ad and paying per word, hoping and praying that the right candidate would stumble upon it is no longer our reality. Over the last 30 years, job advertising has continuously evolved, beginning with pay-per-post, then pay-per-click, and now pay-per-applicant. With the emergence of new technologies and thousands of job sites, employers have never had such a robust set of sources from which to attract candidates with job advertising.
Traditional advertising is giving way to more modern, data-driven, and scalable practices. But why are employers moving away from traditional job advertising practices?
- Too much guesswork to figure out where to post jobs
- Managing multiple job board relationships
- Not enough candidates
- Too many candidates for some jobs
- Managing finite budgets and infinite hiring demands
- Too much time spent on actual posting
- Too many unqualified candidates
- Lacking the agility to keep up with a shifting labor market
Why it needs to change
1. You don't get results
of jobs ads do not get a single apply
of job ads get 84.9% of applies
of applicants are qualified
2. Waste of traditional job advertising
Companies spend $13.5B on job ads every year and 95% of that is wasted.
In other words, those job ads don't result in applies.
3. Changing market conditions
There are 5 million more job vacancies than members of the labor force.
Bottom Line: It's still hard to hire.