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Rec Tech: the Recruiting Technology Podcast

Bringing you technology inspired conversations with practitioners and vendors in the recruiting technology arena.

Feb 26, 2023

Andrew Flowers is the lead labor economist at Appcast, today he’ll discuss the results from the report, the current labor market and how hiring professionals can use this report to overcome another rough year for recruiting.

  • What are the key takeaways from this year's report?

  • One of the key metrics Appcast analyzes, is apply rates. Apply rate is the number of people who actually complete a job application after having clicked on a job, represented as a percentage. Its inverse is the candidate drop-off rate. Overall, the median apply rate increased to 4.34%, from 4.05% the previous year, which – while welcome news – means that almost 96 % (95.66%) still do not finish their online job applications. 

  • We finally see at least a slight uptick in the number…Im guess due to more candidates in the market?

insightful strategies, to stay ahead in the labor market, such as:

  • Catch the eye of more potential candidates with short job titles and concise job descriptions. 

  • It pays to be transparent: job ads without pay information in the job title cost employers on average $2.30 cost-per-click (CPC), while job ads that included pay information in the job title resulted in a lower CPC, just $1.49.---so companies should put salary in job title, give me an example…?

  • Pay attention to the device habits of your job seeking audience and – especially for job functions with the heaviest volumes of mobile applications – develop a mobile application process that is just as efficient and friction-free as it would be on a desktop computer.

  • Timing is everything: Tuesday and Wednesday are the new frontrunners for the highest volume of job applications. In the past, this was Monday.

  • Which jobs are still the most expensive to recruit for?

  • Looks like the state of Georgia had the highest apply rate at 4.47%

  • New hampshire has the highest CPA rate at $33.58