Are You Getting the Most Value for Your CPA?

July 30, 2020 at 01:47 PM — Post

There are six levers that influence cost per applicant (CPA) and, in turn, impact recruiting effectiveness.

No matter the economic environment or employment marketplace, you have more control over these levers than you may realize.

Here are the six levers, why they matter, and where you should focus.

1. Apply Process. The first lever is apply process. Your goal is to get as many qualified candidates through the process and reduce the number of unqualified candidates. To know how successful you are at meeting this goal, you have to measure, and for this, you guessed it, you need data.

Where should you focus? On ATS/CRM capabilities and your company’s capabilities.

There are numerous questions to ask, and answer, about these capabilities, from the basics, such as, is your application process optimized for mobile, to how long it takes to complete your job application in comparison to industry benchmarks.

Questions to ask, and answer, about your apply process can be found in the Appcast whitepaper, How to Improve Recruiting Effectiveness.

2. Job Postings. “Consider your audience” sounds like obvious advice, but job postings aren’t always crafted with job seekers in mind—which means you may not be attracting the candidates you seek.

Where should you focus? On both your job titles and your job descriptions.

There are numerous questions to ask, and answer, about your job titles and your job descriptions, from the basics, such as, is the job title clear to a job seeker, to if the job title length is short in comparison to benchmarks.

Questions to ask, and answer, about job postings can be found in the Appcast whitepaper, How to Improve Recruiting Effectiveness.

3. Employer Brand. Your employer brand affects your apply rate, and, arguably, the number of qualified candidates. Reviewing your brand messaging is therefore critical.

Where should you focus? On your consumer brand, employer brand, and reputation.

There are numerous questions to ask, and answer, about each of these, from whether your consumer brand and your employer brand align, to questions about your Glassdoor rating and reviews.

Questions to ask, and answer, about your employer brand can be found in the Appcast whitepaper, How to Improve Recruiting Effectiveness.

4. Culture. Because corporate cultures vary, it’s important to accurately define and articulate your culture so that you attract candidates who are a fit for your organization.

Where should you focus? On your core values and growth and development opportunities.

There are numerous questions to ask, and answer, about your core values and growth and development opportunities, from whether your core values are reflected in job postings, to if you have a corporate framework for career progression.

Questions to ask, and answer, about your culture can be found in the Appcast whitepaper, How to Improve Recruiting Effectiveness.

5. Benefits. Job seekers evaluate a potential employer’s benefits package. Health insurance often tops the list of benefits candidates seek, but other benefits matter as well.

Where should you focus? On insurance, paid time off, work flexibility, and other benefits.

There are numerous questions to ask, and answer, about your benefits, from the basics, such as, does your company offer health insurance, to specifics about work flexibility, such as work hours and remote work arrangements.

Questions to ask, and answer, about your benefits offerings can be found in the Appcast whitepaper, How to Improve Recruiting Effectiveness.

6. Market Competition. Since market competition is highly dependent on external forces, you may think this lever is beyond your control. However, because market competition has four different vectors, there are multiple ways to make an impact.

Where should you focus? Initially, on each of these four vectors: job type, location, job site, and timing. Then, take a look at other market forces.

There are numerous questions to ask, and answer, about market competition, including whether you’ve considered candidates from other jobs/industries whose skills are transferable, to if you know the current CPC pricing for each job site you’re using.

Questions to ask, and answer, about market competition can be found in the Appcast whitepaper, How to Improve Recruiting Effectiveness.

Assessing your current situation, and making changes where necessary, will have a positive impact on your CPA and lead to better recruitment outcomes.

Why not get started today?

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