The human arsenal knows no boundaries, but at the same time, it is still yet to possess an element more impactful than that desire of improving on a consistent basis. We say this because the stated desire has already brought the world some huge milestones, with technology appearing as a rather unique member of the group. The reason why technology’s credentials are so anomalous is largely built around its skill-set, which was unprecedented enough to realize all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, a closer look should be able to reveal how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence and made it the ultimate centerpiece of every horizon. Now, having such a powerful tool run the show did scale up our experience through some outright unique avenues, but even after reaching so far ahead, this prodigious concept called technology will somehow continue delivering the goods. The same has grown to become a lot more evident over the recent past, and assuming one new HRM-themed development shakes out just like we envision, it will only propel that trend towards bigger heights in the near future and beyond.
Indeed, one of the biggest recruitment platforms on the planet, has officially launched a new Pay for Results pricing facility, which is designed to accelerate the process of hiring. According to certain reports, the new functionality comes packaged with pay per application (PPA) and pay per started application (PPSA), but what’s the value proposition of each option? Well, PPA will bring forth quality applicants that meet the employer’s preferences, while simultaneously charging them only when they receive an application. This approach takes a step away from the usual method of charging right when the job ad is clicked so to make the whole hiring experience cost-efficient. Anyway, under the new arrangement, employers can review the price per application, set an application limit based on their budget, and automatically reject applications that don’t meet their needs by setting predetermined requirements. Notably, if an under qualified application somehow sneaks through and lands in the employer’s inbox, they will still have a 72-hour window to reject it and not get charged for the same. Moving on to PPSA, it basically enables the employer to pay only when applications are started from higher-intent job candidates.
“Our vision is to make the hiring experience as easy as pushing a button which is why we’re on a journey of evolving into a comprehensive matching and hiring marketplace,” said Chris Hyams, CEO of Indeed. “As a company whose mission is to help people get jobs we want to get paid when we deliver qualified candidates, which means opening up new payment options that fit the needs and preferences of employers.”
Indeed’s reworked approach comes amidst a labor slowdown which has plagued employers across the entire globe. Talk about the biggest challenges to hiring, nearly 43% companies struggle with how long it takes to complete one hire, 41% are suffering from poor quality of candidates, 38% are unable to compete with other players for top talent, 31% aren’t even receiving enough applications, whereas 26% don’t have the resources to facilitate a productive hiring initiative. With so much uncertainty, it didn’t surprise anyone after a research revealed that over 52% of employers picked Pay for Results as the top pricing model, compared to a modest 22% who chose Pay for Clicks.
Indeed, on its part, can solve this crisis, given it makes more than 20 hires every minute, a figure literally more than double the rate from three years ago. In terms of size, the company is operational, at present, across 60 countries and in 28 different languages. Going by the available data, more than 3 million employers use Indeed to find and hire new employees, and their pursuit is wholly aided by the fact that the company’s platform reports around 300 million unique visitors each month.
“It’s easy to forget that many years ago Indeed fundamentally changed the job board business by using aggregation to better help both candidates and employers. Now, fast forward to today and they’re bringing the industry forward once again with pay per application and pay per started application options. I love and support what Indeed is doing and think it’s a stroke of genius,” said William Tincup, HR Advisor, Consultant and President, Editor-at-Large at RecruitingDaily.