Navigating the talent shortage: how programmatic job advertising can help
The past couple of years has been rather volatile for the job market worldwide. The pandemic has resulted in significant loss of jobs due to an overall reduction in demand across different sectors. On the other hand, it has resulted in a few new sectors, such as edtech, wherein the demand for professionals has increased (around 300 percent increase) in demand for professionals in India). Even though the pandemic shows some signs of waning off in India and abroad, recruiters and job seekers still have their task cut out.
Some of the biggest challenges facing the recruitment industry include the need for a better skillset among workers, and the ‘great resignation phenomenon’, which has resulted in increased attrition rates (of up to 21 percent) in the country. Hence, while on the one hand recruiters are looking for candidates with the latest employable skills; on the other hand, professionals are looking for better opportunities and perquisites in a highly volatile job market.
Effects of the challenge
The twofold challenge can cause a serious gap in demand and supply of skilled labour across different industries. High attrition rates in core industries can increase human resource management costs. It can also directly impact the long-term plans of organisations. Furthermore, many skilled and eligible employees are kept away from openings due to an overall lack of coordination between employers and applicants.
Programmatic job advertising
The current job market scenario is rather complex, and leveraging technology is the only way forward. Maintaining quality applications through programmatic job advertising (PJA) is highly recommended. Programmatic job advertising (or programmatic recruitment advertising) is the use of technology for buying, placing (distributing), and optimising job ads – and their associated budget -automatically across the Internet. This process of PJA helps the hirers, starting with a flow of high volume, quality traffic, arming workers with useful insights about their career paths and market value.
In addition to this, employers can also benefit from introducing programmatic job advertising methods:
- Expansion of an otherwise limited reach would allow them to pick from the best talent available for the given opening
- Getting actionable insights on a potential candidate
- Employers can save a significant amount of money that is otherwise spent on advertising and recruitment processes
- Helps targeting the right employees for a given job
- Employer brand is improved significantly
- With a well-managed database, it would help in retargeting potential applicants at a later stage
For job seekers, programmatic job advertising will help save a lot of time otherwise spent in applying for suitable job positions. In addition to that, potential employees can be a part of a transparent programme that would help gain as much information about the job, benefits, and overall culture of the hiring organisation.
Role of Service Providers
Organisations that are in the process of a recruitment drive could either carry out programmatic job advertising based on HR capabilities it has, or it could be outsourced to a wide range of service providers with sophisticated hiring programmes and experience in this field.
Service providers effectively reduce the overall burden of the hiring process off a business as they use AI and ML that continuously optimise job advertisements that are placed before the right candidates at the right time using technology.
Hence, organisations save time and could be well-connected with the overall hiring process by receiving real-time insights about an applicant. This not only saves a lot of time and money for a hirer, it also ensures that a suitable candidate is placed in the right position.
To sum it up
The recruitment and staffing process is challenging under any circumstances, but the pandemic has posed some serious problems before the hirers. Businesses now need to reassure the candidates about many things, including the job conditions and perks associated with it. There is a need for a clearer career progression path to be offered to the candidates, which could be done through real-time analytics as offered by programmatic job procedures.
There is also the need to save time and money in the entire recruitment process, another feature of the programmatic job process. If an organisation cannot make the best use of the latest technology, it can simply outsource the process to a third-party service provider.
Edited by Anju Narayanan
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)