The recruitment funnel—and its associated funnel metrics—is a way to measure the journey of a…
Ever wondered whether programmatic recruitment advertising would really work for your organization? Would it be worth the money, time and effort spent in implementing it? If you do end up adopting it, what should you expect?
Here are six answers to common questions about programmatic recruitment.
Q. In simple terms, what is programmatic recruitment advertising?
A. Programmatic = Automated
It is the automated buying and placement of job ads through software, and not people. This includes making split-second decisions about increasing or decreasing bids for specific jobs and placing the most relevant job ads in front of target candidates.
Q. What are its main benefits?
A. The main advantages of programmatic recruitment advertising boil down to three recruitment metrics - money, time, and quality.
First, programmatic advertising tools reduce your cost-per-hire (by almost 30%, in many cases) through proactive job ad bidding based on predictive analytics. This means that the jobs that have enough applicants are unsponsored, and resources are diverted to those that still need applicants.
Second, programmatic tools provide time efficiencies. This is best explained by what is called the 'weekend effect.' Typically, there is a surge of applications over weekends, as compared to weekdays. Imagine if you could optimize your job ad display specifically for the weekends, to make up for lost traffic on weekdays. Programmatic can do that for you.
Third, these tools improve the quality of your candidates using matching taxonomy. Unlike keyword-based filtering used by applicant tracking systems that might eliminate good candidates, programmatic tools rank applicants in real-time based on how well they meet specified criteria. The result is better-matched applicants for all of your job postings.
Q. Practically speaking, what other capabilities should a programmatic advertising tool offer?
A. Ideally, any programmatic advertising tool should be able to deliver the following -
- Job distribution to all job boards: Cross-posting and campaigning across sites, including social media channels.
- Dynamic control of job visibility and performance: Being able to decide which ads to advertise more or less, depending on the number of applications.
- Ability to target specific candidates: For instance, based on qualifications or levels of engagement.
- Accurately predict results as compared to the market: This could be information related to supply and demand across different geographical regions and the underlying costs to get the desired results.
- Cost-reduction or efficient spending: Applying campaign budgets across a large number of jobs and ensuring adequate spend on all, based on supply and demand for those jobs.
- Transparency on job ad spending and performance: This allows you to figure out your cost-per-click or cost-per-applicant and to see how your job ads are performing.
Q. What is the biggest myth associated with programmatic recruitment advertising?
A. One of the most common misconceptions about programmatic is that it is complicated and difficult to implement. In reality, it is anything but that. This technology is relatively new and requires some effort to understand. However, once its basic principles are clear, it is relatively easy to use.
Q. Is programmatic a good option for any job posting, or are there specific jobs that might be a better fit?
A. Programmatic works for any job listing, as the underlying principles are the same.
Q. Does programmatic work for any company size? Or is it only for large organizations?
A. Implementing programmatic has its overhead costs and requires a vendor who understands your company and your specific needs as an employer. This might involve customizing available tools to suit your needs.