Retailers are hiring for the holidays, but how many actually take paid-search practitioners into consideration when determining the cost? Not many, likely. What does it cost a company to hire talent?
Perhaps the human resources department and hiring managers should consider the skills of search practitioners to teach them about paid advertising models as they apply to the job market.
A Recruitics performance-based recruiting infographic explains different pricing models such as cost per click and cost per hire, and a list of key players in the market like Glassdoor or Diversity Jobs and other job search engines. It also defines need-to-know metrics to run a successful campaign.
The key metrics to understand how to monitor success of pay-per-click advertising campaign includes the amount the employer agrees to pay for each click on a job post, the amount paid based on the number of clicks or applies the job post receives, and the cost of getting one person to click on one job listing.
The pricing model also considers the cost of getting one person to click on a job listing, the percentage of people who click on job listings that complete an application, and the cost of getting one person to apply for the job. Add these all up for a complete cost to hire one person for a job opening using a sponsored job board.
Retailers hiring seasonal staff for the holidays typically make it clear the job is temporary, but those performing well can sometimes stay, which reduces hiring costs.
Macy's will hire 85,000 employees nationwide for the holiday season. ToysRUs will try to fill about 40,000 cashier positions, sales associates and merchandise stockers to work at its 570 stores in the United States and its distribution centers.
Some businesses looking for "purple squirrels," defined by DHI Group as workers with impossible-to-find combinations of skills and experience, have figured out a way to ditch the job search engine and hire personal in less than a week rather than 30 days.
The one-day drill, per one report, which put candidates through three hours of interviews, group discussions, writing exercises and role-playing followed by offers within 24 hours, has reduced the hiring time for some companies.
It's not for all. Experts caution this practice. It's not for everyone. Quick hires could lead to quick exists, and mistakes due to the delay in background checks.