You’ve learned the reality of recruiting and the value of job titles and posts, now it’s time to optimize your jobs-to-budget ratio!
Missed the last posts in the series? Check them out here:
Optimize Your Jobs-to-Budget Ratio
In a tough recruiting market, you must do everything possible to help candidates find your jobs.
Looking to get the highest ROI from your recruiting spend? Darn right. And the correct jobs-to-budget ratio can help you get the most bang for your job advertising bucks.
So, what is a jobs-to-budget ratio? Simply put, it’s the number of jobs you’re posting compared to the amount of money in your budget.
- I have a $2,000 budget and 100 jobs.
- I have a $2,000 budget and 2000 jobs.
- I have a $1,000 budget and 100 jobs.
Changing your ratio changes your results.
Many job boards suggest, “Post fewer jobs, and keep your same budget.” Or “Keep the same number of jobs, and increase your budget.”
At Haley Marketing, we often take the opposite approach. Our first strategy is, “Keep your budget the same; sponsor more jobs. Or if you’re keeping your job count the same, reduce your budget.”
Why? Because most staffing firms benefit from having more lines in the water to entice candidates, and spending MORE isn’t necessarily spending SMARTER.
Case Study: More Jobs; Same Budget; 5X Applies!
This staffing firm (administrative and light industrial) operates in a challenging geographic area and came to us with a cost per application of $21.51 for their advertised jobs.
How did we help them spend smarter?
- Job expansions
- We expanded job titles to include variants that candidates were searching.
- We expanded into neighboring cities to reach more candidates.
- Changing their jobs-to-budget ratio. We raised their job count from 43 to 224, a 5x increase that improved their jobs-to-budget ratio.
- Adding ZipRecruiter to supplement Indeed. Sometimes the traffic isn’t what it needs to be on one job board, so we added another to reach more candidates.
Cost per application dropped from $21.51 to $6.60!
Does adding more jobs always work?
Not always (although it is typically an effective strategy!). Some clients need fewer jobs (not more budget). Others need the same jobs (and LESS budget). For more examples and data, check out our on-demand webinar.
What other tactics net more applications?
- Stop overpaying for easy-to-fill jobs. Allocate your budget for harder-to-fill positions.
- Getting empty clicks? You might have too many jobs. Decrease job count.
- High cost per application and high cost per click? Conversion too low? You might be overpaying for candidates. Try decreasing your budget.
Social Recruiting Can Increase Job Applications
The elimination of Facebook Jobs on February 22, 2022, caused many staffing companies to see a decrease in job applications. Is your firm still trying to recoup those losses?
Here are a few ways to attract candidates through social recruiting:
- Pay to play. Post about your jobs on social and put some advertising dollars behind them. (Be sure to include WIIFM, pay rate, shift info, and type of job.)
- Build a stronger page following. Growing organic traffic on Facebook is a big challenge, but posting engaging content can help you build a stronger page following—and reach more candidates.
- Create more engagement. Creating a larger page following could lead to more engagement—and the more engagement your posts get, the more people will see them. That’s how the Facebook algorithm works! Bonus tips:
- Rally your team to like, comment on, and share your posts to boost engagement.
- Follow up with engaged Facebook users.
- Get your team involved. At a minimum, have your team like and comment on the jobs you post. More engagement with your jobs = more distribution. Better yet, get them to share the jobs on their own. Content shared by people gets more (free) reach than content shared by companies.*
- Use other channels. Facebook isn’t the only game in town—really! Explore other channels to find potential candidates.
Want to automate your team social sharing? Check out our low-cost platform: NetSocial!
Don’t Just Focus on Jobs—Think About the Bigger Picture!
At Haley Marketing, we love to geek out on job data, but we also help our clients create more than a job-to-job relationship with their candidates.
To connect with candidates, you need to build your brand, which starts with showcasing what candidates get out of working for your company. Candidates have tons of options these days. Share information that will make them want to work with YOU.
Use these tactics to help your employment brand stand out from your competition:
- Identify your Employee Value Proposition. Talk to people, conduct surveys, hold focus groups…find out what your employees value about working for your company.
- Share company news, awards, and partnerships to give candidates an inside look at your culture.
- Create employee-generated content. Use your team to show candidates what you have to offer beyond a paycheck. Stories, leadership profiles, and content that highlights company culture can build your brand—and bring in more job applications.
Get Control of Your Job Board Spend
On average, Haley Marketing is helping our clients reduce their cost per apply by 33% within six months. We use programmatic software to automate, test, and track job titles, city expansions, and other variables that can help you reach more candidates and get more applications—without blowing your budget.
Want to learn more about what we do?
Get In Touch
Want an expert in your corner who understands jobs, technology, and the staffing industry? We can help you manage the day-to-day of your job boards and drive ROI from your spend. Don’t just spend more—spend smarter!