RallyFwd May 2022 - Andrew Flowers.pdf
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RallyFwd May 2022 - Andrew Flowers.pdf
- 1. © 2022 #RALLYFWD Recruitment Data: Your Advantage in a Competitive Labor Market Andrew Flowers Labor Economist Appcast
- 2. #RALLYFWD © 2022 © 2022 1. Why recruiting costs - such as CPC and CPA - have skyrocketed recently, and what you can do to optimize your budget 2. Appcast’s new data around cost-per-hire, which has shown that no single source will perform the best in every industry 3. How to improve your employer brand with pay and salary transparency WHAT YOU’LL LEARN
- 3. © 2022 #RALLYFWD About Appcast • Appcast is the global leader in programmatic recruitment advertising technology and services. • We were founded in 2014. 330 employees spread across offices in the US, Canada, UK, & Belarus. • In 2019, Appcast became a subsidiary of Germany-based StepStone, one of the largest global job board businesses today. 1.3B Job Postings 10.2B Clicks $1B+ Media Managed Annually 1.7B Applications
- 4. © 2022 #RALLYFWD Recruitment Marketing Update, Q1 2022 Costs Eased Despite Tight Labor Market, But Remain Elevated
- 5. © 2022 #RALLYFWD CPC declined by 5.4% in Q1 2022, from $1.12 to $1.06;
- 6. © 2022 #RALLYFWD Apply rate increased from 3.8% to 3.95% in Q1
- 7. © 2022 #RALLYFWD CPA declined to $28.31, down 11.6% from December 2021
- 8. #RALLYFWD © 2022 WAIT! Why have recruiting costs risen so much? #RALLYFWD © 2022
- 9. © 2022 #RALLYFWD Labor Market Overview
- 10. © 2022 #RALLYFWD The recovery from the COVID recession is very unique
- 11. © 2022 #RALLYFWD A tsunami of demand for workers across every industry
- 12. © 2022 #RALLYFWD Labor supply is returning, but more slowly than demand
- 13. © 2022 #RALLYFWD Fundamental mismatch: labor demand exceeds supply
- 14. © 2022 #RALLYFWD Inflation is elevated, including for the online advertising sector
- 16. © 2022 #RALLYFWD Percentage of clicks and applies by device
- 17. © 2022 #RALLYFWD Percentage of clicks and applies by device: Three-year review Clicks by Device, Year-Over-Year Applies by Device, Year-Over-Year
- 18. © 2022 #RALLYFWD Percentage of mobile applies by job function
- 20. © 2022 #RALLYFWD Occupations with the largest CPA increases over last 2 years
- 21. © 2022 #RALLYFWD Other occupations have had moderate/flat CPA changes since 2020
- 23. © 2022 #RALLYFWD Apply rate by state
- 24. © 2022 #RALLYFWD CPA by state
- 25. © 2022 #RALLYFWD Cost Per Hire Insights NEW Appcast data
- 27. © 2022 #RALLYFWD No single source performs best at everything
- 28. © 2022 #RALLYFWD The implication of CPH optimization is game-changing Test Protocol Applies Qualified Hires CPA CPH Test 1 22,829 2,256 1,125 $33.34 676.51 Test 2 86,127 6,435 2,995 $32.46 933.53 Test 3 97,091 3,667 1,694 $28.25 1,619.33
- 29. © 2022 #RALLYFWD Pay Transparency and Employer Brand
- 30. © 2022 #RALLYFWD Wages are rising – fast
- 31. © 2022 #RALLYFWD What is “The Great Resignation” about?
- 32. © 2022 #RALLYFWD Perhaps it’s about better pay
- 33. #RALLYFWD © 2022 Action Items •Benchmark pay more frequently •Salary transparency can improve employer brand AND lower CPH •Follow recruitonomics.com for insights:
- 34. © 2022 #RALLYFWD Thank You! ANDREW FLOWERS Labor Economist Appcast /in/andrew-flowers-ma/ andrew.flowers@appcast.io