The COVID-19 has caused severe financial disruptions. However, as the economy rebounded on the back of nationwide vaccination program and other safety initiatives, the world started witnessing an impressive uptick in job openings. According to the U.S. Bureau of Labor Statistics, this figure touched the 11 million mark in June 2021 compared to 6.7 million in December 2020, a more than 50% jump.
With organisations adopting flexible concepts like WFH and hybrid working, more and more professionals are now looking for jobs that offer these alternatives. Around 55% of working professionals in the US are likely to look for a new job in the next 12 months. Nearly 40% of people have cited remote work, career advancement, and flexibility as their primary reasons to change jobs. Companies now have no choice but to acclimatise to modern recruitment strategies and practices
Delving deeper into programmatic job advertising: It is a process of buying, placing, and optimising job ads using data, analytics, AI, and ML. It helps employers place the right jobs before the target audience, set goals, and have technology work towards them.
Today's job landscape is brimming with potential candidates. As a result, connecting and engaging with each of them manually would be very difficult and time-consuming for HR teams. This is why they need Programmatic Job Advertising platforms to do this job on their behalf.
With this, they can automate the entire hiring process. It will help HRs prevent slip-ups and give them more time to spend on other critical activities while also cutting down their overall hiring costs without affecting the key hiring goals. This way, they can make the entire hiring process simple, quick, quality-oriented, and cost-effective.
The game changer: As an employer, when you adapt to a digital hiring strategy, you expand your talent pool by inviting candidates from anywhere and everywhere. This increases your advertising costs. However, by leveraging Programmatic Job Advertising, you can automatically manage spending using predictive data and intelligent algorithms. This technology optimizes how jobs are delivered in sync with job ad metrics like cost per apply, cost per source and hire per source across the ecosystem. Eventually, this process helps you secure the best ROI. Moreover, you can see and evaluate your performance in real-time and thus make better and more informed decisions when recruiting the right talents.
Remote hiring calls for scouting candidates across several states and cities in a country. As a result, managing job postings and following up with candidates can be highly taxing for a small team of recruiters if they are doing it manually. This is where programmatic job advertising works wonders. It automates the entire hiring process. It enables recruiters to utilise this time on other critical tasks like engaging with talent on social media, responding to employee reviews, creating virtual job previews. When jobseekers see relevant content, they naturally engage with the advertisement to explore the opportunity. Due to these features, programmatic job advertising has recorded an 8% spike in candidates reaching the final hiring stages compared to conventional job boards.
The writer is Amitt Sharma, founder-CEO, Receptix