Programmatic Job Advertsing has become an essential tool to target and engage the right candidates, maximise ROI, enhance diversity and ultimately onboard top talents that perfectly fit the role in an organisation, says AMITT SHARMA
COVID-19 has caused severe financial disruptions in terms of layoffs and downsizings, resulting in record unemployment rates in India and across the globe. However, as the economy rebounded on the back of nationwide vaccination programmes 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 per cent 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 per cent of working professionals in the US are likely to look for a new job in the next 12 months. Nearly 40 per cent of people have cited remote work, career advancement, and flexibility as their primary reasons to change jobs. In this era dubbed as The Great Resignation, employers are facing a shortage of talented professionals across industries, pushing them to offer higher salaries, generous perks, and more flexibility.
Companies now have no choice but to acclimatise to modern recruitment strategies and practices like Programmatic Job Advertising to target, attract, and onboard the right set of candidates and overcome challenges like submission of wrong applications and rising recruiting costs.
Programmatic Job Advertising 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, including tasks like scheduling interviews, addressing their job-related queries, and making candidates feel more valued at every point possible. 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.
Makes hiring accurate and affordable
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 optimises how jobs are delivered in sync with job ad metrics like cost per apply, cost per source, hire per source, etc, 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 and 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 — all of which help improve your reputation as an employer. When job seekers see relevant content, they naturally engage with the advertisement to explore the opportunity. Due to these features, it has recorded an 8 per cent spike in candidates reaching the final hiring stag compared to conventional job boards.
The writer is Founder and CEO, Receptix