Programmatic Recruitment Advertising
Introduction to Programmatic Recruitment Advertising
Programmatic recruiting is optimization of the advertising process via the use of technology. Traditionally, one would have a 1-1 relationship with a destination advertiser, whereas with programmatic advertising you have a 1-1 relationship with a programmatic vendor, and that vendor has a network of thousands of sites that can display the ad, from traditional job boards to websites to in app advertising. Thus, with a single relationship, one has access to thousands of sites with a single click. This process is automated and backed by machine learning, so what ad is being shown at what time and on what site is under continuous improvement for the best application to dollar ratio. The programmatic recruitment decisions are made at computer speed which gives a dramatic improvement to efficiency and ROI.
Programmatic has demonstrated improvement in candidate attraction and cost per candidate, thus the net result is hires at a lower advertising cost.
The programmatic platforms use real-time data analysis combined with machine learning (some argue it is artificial intelligence, but that is a debate for another day) algorithms to guide ad placement for the highest possible success. The data comes from thousands of sites with a wide variety of traffic and date collection methods. For example, ad display decisions can be based off of your existing ATS or CRM (past results) combined with the information collected from websites via cookies or logins; this data will show resumes, statistics, and demographics of a potential candidates which allows the programmatic platform to make a very informed decision on where it will best place that job advertisement. This leads to finding the ideal candidates for this role in a much quicker fashion.
This is not all that programmatic tools are able to do, though. It can also retarget candidates that have expressed some form of interest in the job, such as an abandoned application. The algorithms have built in bid optimization, which while is very efficient at displaying the right ad at the right cost, may not be a fit for your budget. One can manually adjust bid rates as well, which while not result in the best candidate flow at the right budget, can enable one to maintain their budget goals. These bid rates will have an automatic effect on the traffic that you will receive to a job posting. One can also overbid the market rates, meaning higher traffic, but at a higher cost. Manually setting bids is a way to fully involve yourself in the recruitment process and dictate what requisitions have priority over others.
The result of programmatic recruiting advertising is that your job ads are always placed where they will be most effective and relevant. These results may change for each role and may vary from hour to hour. Data is continuously reviewed in order to make changes to the process now and in the future. It’s essential to continue to improve efficiency in the process. Whereas automation of the process has to include continual user feedback to make sure that it’s improved over time.
Although programmatic recruiting does automate a large amount of the process, Human interaction isn’t completely removed from the equation. It’s always recommended that you lean on human interaction to keep a close eye on the inputted job ad information, accuracy of the job description, as well as the daily results. It’s instead aimed at taking away the most arduous aspects like data assessments, calculations, as well as providing answers and updates to those processes. The people involved still have to be responsible for working within the system to create an effective job ad and to input the right (accurate) information to allow the system to work well.