Recruitonomics: How understanding and applying labor market data is critical to compete effectively
This session recording is from Greenhouse Open Conference 2022
2021 was one of the most challenging years for recruiters in recent history. A perfect storm of fierce competition for talent and a pandemic-induced lull in labor supply made recruiting a lot more expensive, and recruiting costs skyrocketed. The median cost per application (CPA) rose a dramatic 43%, and cost per click (CPC) was up even more, posting a stark 54% increase.
What explains these numbers? Job openings surged to all-time highs in 2021 with demand for workers rising across every major industry. At Appcast, we've realized recruitment marketing performance is most effectively optimized in the context of labor market data. We refer to the incorporation of labor market data into the science of recruitment optimization as Recruitonomics.
Join Appcast's Labor Economist, Andrew Flowers, for a primer on Recruitonomics and how – when combined with programmatic technology – it will revolutionize your approach to recruitment marketing.
Andrew Flowers, Chief Labor Economist at Appcast