Businesses in the UK are having a tough old time. Inflation met reduced consumer confidence, reduced demand, and increased energy and fuel bills. Business owners feel like they’re being battered time and time (and time) again with no end in sight. Essentially, the cost of recruitment is rising significantly.
The Impact of Inflation on Recruitment
Inflationary pressures have led to more movement within the job market, and if an employee leaves, it’s time to search for your next star hire.
It was nice in the face of such challenges to have a large company like Indeed on hand to help you recruit in a cost-effective way. Employers could sponsor a job listing for as little as £3.00 per day.
It seems, however, that indeed have faced their own challenges. In March 2023, Indeed announced 2,200 layoffs of its global workforce claiming that sponsored job volumes were down 33% year over year, and total job openings were down 3.5%.
In addition to redundancies, the company has moved smaller businesses from a PPC (pay-per-click) model to a PPSA (pay per started application) model. Previously, a job could cost a few hundred pounds to receive a large number of candidates. Now it costs thousands to sift, interview and build a new team.
In our tests, the average cost per application was offered at around £20.00 each.
How Be My Social Can Help You
What to do then – and more importantly, why is a Marketing firm writing about this?
Well, we’re impacted as employers. We’re aware that aside from drastically increased pricing, indeed and similar job sites often struggle to fill roles for our clients. We create captivating and tailored creative adverts to help businesses recruit.
As Meta/Facebook/Instagram/Google/TikTok etc. partners, we’re able to choose the best platform to promote your listings and work with you to attract the right talent. Not just thought a job listing, but with bespoke video or imagery that better conveys the kind of business you are.
Following a discovery call with our Advertising specialists, you’ll be able to state your specific pain points so that we can research the best approach.
While we’re at it, we can also improve your product or service sales with better advertising.
It’s really beneficial having a large creative team at your disposal. As someone who found this article by searching about recruitment, you know that having that resource in-house is very expensive.
Let us be your support system and help you achieve your business objectives in a more cost-effective way.