Job Advertising & Key Performance Metrics (KPI’s)
Some key performance metrics to track in job advertising include the average number of clicks, velocity of clicks, click to apply rate, cost per applicant, and cost per qualified applicant.
Further explanations below:
Cost per Impression. How much is costs for your ad to be served to 1,000 people?
Average Number of Clicks. This is the number of clicks that your job is receiving. Usually the more the better.
Velocity of Clicks. How quickly are these clicks being received such as in a day, a week, or a month? The less velocity in your click volume either the more competitive a job is or the more narrow the talent pool is.
Click to Apply Rate. This is the number of clicks that it takes to receive an applicant. You can divide applicants by clicks to get your percentage ratio.
Cost per Applicant. This is the cost per applicant which is a summation of your clicks that it took to receive an application.
Cost per Qualified Applicant. This is the most important metric… How many applications did it take to receive a qualified application?
Application Time. This metric helps you understand how long it takes a candidate to apply for a job.