General Manager, India and South East Asia
26 February 2021
Even today, recruitment marketing and talent acquisition teams often allow instinct rather than data to dictate their media buying and campaign optimization decisions. In other words, it’s not uncommon for them to still rely on their “gut feeling” followed by a giant leap of faith.
When you’re dealing with hundreds or thousands of job openings, and thousands or millions of dollars of recruitment advertising spend, how smart a leap is it, really? The mistakes you make this month, you’ll continue to make in the next month too – and even the following year.
One of the reasons for such a “strategy” to still endure is the common absence of a single source of truth in recruitment marketing. Without a centralized repository of all recruitment marketing data, performance, and costs, it’s virtually impossible to know which talent sources do or do not deliver relevant candidates swiftly and cost-efficiently.
Consider Salesforce, which has established itself firmly as the go-to single source of truth for sales teams worldwide. The platform enables businesses to track the journey of “leads” or “accounts” from one end to the other of the sales funnel, across all lead sources. It’s not an exaggeration to say that the success of a lot of sales teams is dependent on how well they compile, manage, and leverage their data on Salesforce.
Recruitment marketers are in dire need of an equally capable platform that addresses the unique demands of talent acquisition. Application Tracking Systems (ATS) and Candidate Relationship Management (CRM) platforms (or a combination of both) come close.
What’s holding them back?
One size does NOT fit all
As a recruitment marketer, your talent sources are likely to include dozens of conventional job sites, job aggregators, social media platforms, search engines, and your own career site, to name just a few. Each of these channels connects with your Application Tracking System (ATS) in a unique way.
Facebook Jobs, for example, has an in-built Facebook Apply feature aimed at improving the application experience. Most job ads redirect the job seeker away from the publisher website to an application form hosted by the ATS, which leads to a majority of candidates dropping off the application process. This results in cripplingly low conversion rates and an irreversibly poor candidate experience. Facebook Jobs solves this problem with its Facebook Apply feature – which is a good thing. However, it also means that applications received through this channel are sent directly (and only) to the inboxes of recruiters, or are accessible through the Facebook account itself.
This lack of easy, uniform integration capabilities with the ATS – across channels – negates the opportunity of hosting all of your recruitment marketing data in one place.
In such a scenario, how do you identify gaps and inefficiencies in your recruitment process, and fix them?
Programmatic job advertising technology can get you there
A programmatic job advertising platform, like Joveo’s, is designed to not just distribute your jobs to the most relevant and cost-effective digital candidate sources (including job sites, social media platforms, search engines), but also derive performance and cost data in real-time from these disparate sources, making your data easily accessible on a single dashboard. The technology is capable of integrating with all forms of online candidate sources, with the help of native application experience optimization capabilities, thereby bridging the gap between online publishers and your ATS.
The combination of your ATS and programmatic job advertising platform functions as your single source of truth, enabling you to truly achieve data-driven recruitment – which ensures you seamlessly host and access all of your recruitment marketing data centrally.
Here are the benefits:
- Transparent view of publishers’ performance across jobs and locations – worldwide
A centralized platform offers not just ready access to relevant applications, it also helps you identify which channels work for you, and which ones don’t. This can be done – at scale – across jobs, job groups, and global locations. Once you have access to all your data in one place, you can effortlessly track and benchmark every metric that matters to you – whether it’s cost per click, cost per applicant, cost per hire, or time to fill – and analyze the effectiveness of every single talent acquisition or hiring activity – by source. If your recruitment teams are distributed across several countries or continents, you can consolidate, analyze, and report your data across all locations, at any time, in real time. You can also seamlessly switch between currencies and languages for more convenience.
Joveo is the most transparent programmatic job advertising platform in the world.
- Tracking all the way from click to hire
With data gathered from the first click right through to the application and finally, the hiring of an applicant, you are privy to a wealth of information that, when analyzed in real time, reveals actionable insights aimed at maximizing your hiring outcomes – whether it’s in terms of minimizing time and cost per hire, increasing quality of hire, or optimizing the entire process end-to-end. The more the data gathered over time, the more precise your recruitment marketing intelligence gets. Therefore, you have all the data you need – across the breadth and depth of your job advertising campaigns – to eliminate the guesswork in your media buying decisions, and let the data do the work for you.
- Retargeting and re-engagement
Let’s say you are looking for a candidate to fill an open job position. You receive about 1,000 profiles from LinkedIn, Indeed, Monster, Facebook, and a few other sources. You shortlist a few and end up hiring a suitable candidate. But a few weeks later, a similar position opens up again. You scurry back to your ATS, hoping to find someone relevant from your earlier hunt. But you see only 95 applications. Where did the rest go? Then it hits you. It’s only the shortlisted profiles that you typically find in your ATS. A few hundred are still buried somewhere in your inbox, or your hiring manager’s inbox, or on your publisher portals.
Joveo’s technology, with built-in job application experience optimization, is the only programmatic job advertising platform that delivers your applications directly to your ATS instead of your inbox, enabling you to have a permanent and easily accessible record of all candidates, applications, and hires – meaning you no longer need to start from scratch for every new vacancy. You have a ready talent pool to come back to whenever you have the need, and the ability to pursue these candidates with job ads wherever they are on the internet – whether it’s on social media platforms like Facebook, or on any of the over 2 million Google Display partner sites (that boast of an audience of 90% of the world’s internet users).
- Predictive analytics and higher ROI
Where are your perfect candidates most likely to be found? Using data, it is easier than ever to identify where the best talent is most likely to be found in the least time and at the lowest cost. As a result, you benefit from significantly higher ROI, while introducing predictability in a traditionally unpredictable process. What’s more, the programmatic job advertising platform makes these decisions for you – continually analyzing your data to automatically place your job ads in front of job seekers that are most likely to convert to hires.
It’s time to stop flying blind!
The amount of data recruiters amass over the span of just a few months is tremendous. It’s an unconscionable waste to have so much of it lost, discarded, inaccessible, or unactionable just for want of a centralized system to organize, analyze, and assimilate it all.
With the right programmatic job advertising platform and ATS, you gain a holistic view of your data 24x7x365, enabling you to fully optimize and automate your job ad campaigns across your sourcing channels – and achieve much needed control over advertising performance.
Businesses like HCL, Wells Fargo, Adecco, Randstad Sourceright, Alexander Mann Solutions, WilsonHCG, and Penna, are already doing this with Joveo today!
Here’s what Michael Swift, Director of Recruitment Marketing at HealthTrust Workforce Solutions, has to say:
“It’s really great to be able to see all of our sources in one central location – really helps us to understand where we’re getting the most bang for our buck, where our ROI is coming in from. The other thing that I love is the track to hire feature.”
To know more about how HealthTrust Workforce Solutions tracks all of its recruitment media in one place with Joveo, watch the video:
To learn more about how Joveo can help you set up and leverage a single source of truth for your recruitment advertising, reach out to us today!