LEBANON, N.H., June 13, 2019 (GLOBE NEWSWIRE) -- Appcast, the leading developer of programmatic job advertising technology, published the findings of its third annual Recruitment Media Benchmark Report today.
For the report, Appcast analyzed 93 million job ad clicks and 5 million job ad applications from 2018 across 900 United States employers in every major industry. The study was comprised of pay-for-performance (PFP) recruitment media, as only applications purchased on a cost-per-click (CPC) or cost-per-applicant (CPA) basis were analyzed.
Similar to trends seen in the 2018 report, this year’s research found a significant correlation between job seeker behavior and unemployment rates by state and function. Distinctly intertwined, increases in unemployment often lead more candidates to search for jobs online. The converse was found to be true in 2018 – apply rates on job ads significantly declined as U.S. unemployment reached its lowest point of 3.7 percent and fewer candidates actively applied for jobs.
The tight labor market, paired with intense growth in the number of available positions – over 100,000 jobs were created every month in 2018 – made it clear that job advertising will remain a topline necessity at any hiring organization. Research from IBISWorld states that the revenue of the online recruitment industry is projected to grow at an annualized rate of 7.3 percent to $11 billion by 2023.
As hiring organizations continue to allocate more budget toward job advertising, understanding the performance of online recruitment spend is becoming crucial to drive a better ROI. Notable findings from the report include:
- Job Title Lengths – Job ad titles with between one to three words had the highest average apply rate of 5.5 percent, whereas job titles with between 12 – 15 words had a mere 3.6 percent apply rate. Similarly, job titles with one to three words had the highest percentage of clicks per job compared to jobs with longer titles.
- Employer Brand Attraction – Employers with between a three and five-point Glassdoor rating attracted more candidates on job ads than those with lower ratings.
- Influence of “Pane View” – Many prominent publishers introduced a new workflow on their job sites in 2018 known as “Pane View.” With this workflow, job seekers were able to navigate different jobs on two side-by-side panes, all within one individual screen. Appcast’s report reveals Pane View publishers contributed to lower average apply rates in 2018 (-29.79 percent on desktop and -7.65 percent on mobile), and as a result, drove average CPA prices up.
Tom Chevalier, Vice President of Product at Appcast, commented, “Hiring in 2019 looks very different than it did a few years ago, and companies need to adjust their strategies accordingly – job advertising included. This year’s research indicates that many factors influence how and why candidates interact with recruitment media. Taking a holistic approach - one that accounts for appropriate budget allocation, optimized job ad content, and a strong employment brand - will all drive better outcomes.”
The Appcast 2019 Recruitment Media Benchmark Report is available for a limited time. To download a copy, please visit:
https://info.appcast.io/2019-recruitment-media-benchmark-report-appcast.
About Appcast
Appcast is using data and programmatic targeting to revolutionize the global recruitment advertising industry. From its pay-per-applicant job ad exchange to its market-leading recruitment media optimization platform, Appcast is changing how leading employers, recruitment firms, ad agencies, and job boards attract high quality job seekers. To learn more, visit: https://www.appcast.io.