Interactive Insights

Recruiting Software Developers

A Deep Dive into Talent Sourcing and Recruitment Advertising Benchmarks

Software Developers

A Bit About These Talented Professionals

For software developers (aka digital dreamweavers), imagination meets innovation and lines of code bring ideas to life. These brilliant minds are the architects of our digital landscape, crafting solutions that revolutionize how we live, work, and play. Whether they’re collaborating in teams or diving deep into coding challenges, they’re the driving force behind the digital revolution.

It’s no wonder that employment for these folks is projected to grow at 26% over a ten-year period!

Why the surge? Well, thanks to the rise of artificial intelligence, the Internet of Things, robotics, and automation, the demand for software developers, quality assurance analysts, and testers is reaching new heights.

So, ready to develop your approach to get more great-fit candidates for your funnel, at the most optimal cost?

It’s time to let Joveo’s data do the talking!

Year-on-year decrease in CPC
Year-on-year increase in median advertised salary
Year-on-year decrease in unique postings

CPA App-lause or App-loss

As we know, CPAs Cost per application (CPA) measures the cost incurred by an organization to receive one job application from a potential candidate. depend on CPCs. But there are a bunch of other factors, too! You can’t control everything (ex. market conditions), but you can work on shaping that ideal apply experience.

When it comes to perfecting your process, keep a few factors in mind: recruiter time and effort, CPA, employer brand, application quality, and candidate experience. While easy apply results in low CPAs, recruiters probably won’t get all the necessary information. Plus, they’ll be inundated with a lot of apps from unqualified or less motivated candidates. Conversely, a detailed (read: looooong) process can lead to a substantial applicant drop-off, subpar CX, and high CPAs.

Recommendation: Scrutinize your process. What info does your team need? Whether it’s easy apply, an enhanced ATS-based solution, or a more sophisticated system, make sure your recruitment strategy is data-driven.

Source: Joveo and Lightcast Research

CPC, Ya You Know Me!

Nationally, we are seeing an average CPCCost per click (CPC) is the cost incurred by an organization for each click on a job advertisement or recruitment campaign. of $0.78… but that’s not going to help you plan, is it? Drilling down to CPCs by state, we find Mississippi is the least expensive state ($0.37). On the other end of the spectrum, where clicks will cost the most, we find Oregon ($1.14).

Recommendation: Make sure you’re making the most of your resources! Leverage this data, comprehend seasonality and macro trends, and stay nimble. Keep an eye on performance across states and engage in A/B testingA/B testing refers to a randomized experimentation process. Two or more versions of a variable (job title, job description, etc.) are shown to different segments of users at the same time. The goal is to determine which version leaves the maximum impact and drives conversions. to enhance CPCs and conversion rates.

Source: Joveo and Lightcast Research

Demand-Supply: The Golden Ratio

The number of unique postings has been on quite a wild ride over the last 12 months, with a decrease of 51%. Our demand-supply ratio of 1.07 tells us that only one hire is made for every posting. This underscores what we already know – it’s still a tight market for developers, with a lot of demand.

Recommendation: If your ratio is less than 1.07, we strongly recommend an old fashioned recruitment marketing audit. That means reviewing job titles, descriptions, compensation, and benefits compared with your competition. Oh, and how could we neglect reach, ad dollars, and return on ad spend per source!

Source: Joveo and Lightcast Research

Mind Your Demand-Supply Gap… by State

Wondering how pushy you need to be when sourcing in a given state? Well, this chart will come in mighty handy, giving insight into the demand-supply gap The demand-supply gap is calculated by dividing the number of unique job postings by total employment in the occupation. The higher the number, the greater the demand-supply gap, compared with the national average. and indicating just how aggressive to be when it comes to talent sourcing or job advertising.

For example, if you’re looking to hire in Washington, Minnesota, or California, you shouldn’t have a problem. In fact, these three top our list of easiest to fill states when we take a look at demand and supply of developers. On the other end of the spectrum, filling your hiring funnel in Washington DC, Alaska, and Vermont is going to be a challenge, given the relatively low supply and high demand!

Recommendation: If the color of your state is in the deep gold, it may indicate that you need to jazz up your job content, A/B test titles A/B testing refers to a randomized experimentation process. Two or more versions of a variable (web page, job description, etc.) are shown to different segments of users at the same time. The goal is to determine which version leaves the maximum impact and drives conversions., expand across locationsGeographic optimizations expand the targeted location to include surrounding communities. This is an easy way to extend your reach and reduce CPAs by sourcing from less competitive markets., and spend considerably more on recruitment marketing and job advertising to attract more great-fit candidates.

Source: Joveo and Lightcast Research

Who Posts the Most?

Here, posting competition is lagging, with an average posting intensity Posting intensity is the ratio of total job postings to unique job postings. A higher posting intensity means employers are sending copies of their reqs to several job sites or other locations on the web, to reach a bigger talent pool. of 2:1 across the occupation, nationally. Top employers like Siemens, Amazon, and Google distribute their jobs with the same intensity, while some other giants like Lockheed Martin (4:1), Northrop Grumman (4:1), and Fidelity Investments (5:1) go a step further, beating the national occupational average. But Capital One tops them all with a posting intensity of 7:1!

Recommendation: Be sure to get your posts out to all the right job boards and on social media. We may be a little biased, but one great way to automatically post jobs across the best-performing sites is to use programmatic job advertising – plus you can take advantage of job title Job title expansion means leveraging alternative job titles, using commonly searched terms. These are published as new listings in addition to the original post. and geographic Geographic optimizations expand the targeted location to include surrounding communities. This is an easy way to extend your reach and reduce CPAs by sourcing from less competitive markets. expansions.

Source: Joveo and Lightcast Research

Show Candidates the Money!

National median ($127,000) and advertised median salaries ($130,000) over a 12-month are darn close, as of December of 2023. We typically see advertised and actual salaries so close when the demand-supply gap is lower within an occupation. Employers advertising salaries higher than this will definitely have a competitive advantage when it comes to sourcing.

Recommendation: If you offer a great salary, don’t forget to call it out in your job description, even if your state doesn’t enforce it legally. Currently, 39% of unique job postings for software developers include wage info. This will help you attract more candidates, lower CPCs, and fill your funnel faster.

Source: Joveo and Lightcast Research

An Eye on DE&I: How Do You Measure Up?

Did you know that 67% of today’s candidates take a serious look at potential employers’ DE&I programs? And what they find influences their decision making. Plus, as we well know, the more diverse your workforce, the better your business outcomes!

Recommendation: How do you stack up against the most and least diverse states, when it comes to this particular occupation? If you find you’re falling a bit short, have no fear! There are a wide range of relevant job boards to give your DE&I program the fillip it needs.

Source: Joveo and Lightcast Research

Occupational Gain to Attract and Retain

By understanding what occupations developers come from, you can tailor your job ad content and channels to reach those audiences – that’s over and above the standard talent supply in your location. For example, many come from previous professions like web development, network systems administration, or user support.

Recommendation: Identify the right channels with a combination of keyword research, using a programmatic job advertising partner with publisher-level historical data and expertise. Now go get those great-fit candidates!

Source: Joveo and Lightcast Research

Curious about how your own talent sourcing and recruitment advertising efforts compare? Find out what it takes to be best-in-class and leave your competition in the dust.

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