Employers are panicking.
For many companies in the hourly worker space…retail, restaurant, hospitality….job applies have fallen off a cliff. Ziprecruiter says their job seeker activity is still down 20% from pre-covid levels.
According to one of my sources CPC rates on Indeed have gone from about 50 cents per click a few months ago to around $2.50 per click today. A 5X increase!
Employers are throwing the kitchen sink at the problem, paying people to interview, signing bonuses up to $2k and even offering to pay full college tuition.
If you are a new job board who just launched and is starting from scratch, this period of recruiting is going to slow your progress to profitability. There’s a scarcity of job seekers out there for employers and job boards too.
You are going to have to up your marketing game to attract registrations. For those of you already established you’ll have to do more to encourage your user base to apply to jobs. I suggest increasing the amount of emails to them highlighting your recent jobs.
It’s likely this scarcity will continue into summer, so hang in there.
Adapt and survive.
