Diversification is important in general, no matter the subject. From ideas to investments, from job search to hiring, diversifying your efforts can lead to better results.
So, why should it be different for recruiting? The answer is, it isn’t. Diversity in the way you advertise your open positions is just as important as diversity in your workplace. Here’s are six reasons to diversify your recruitment advertising spend.
Your dollars will go farther. Studies show that job advertising typically makes up one-third of a recruitment budget, so why would you put all of your eggs in one basket? Spreading those dollars around, based on available data and historical performance, will make better use of your budget.
Cost fluctuations. When you diversify across providers, you’ll avoid cost fluctuations across recruitment advertising channels. That’s because if you have a diverse set of advertising options, price increases will not affect you as much. You can easily make adjustments in your campaigns.
Competition. Bigger sites like Indeed have more businesses running campaigns, thus there are more job ads to compete against. Thus, you’re going to spend more to get your job exposure. Advertising on a mix of different sites of different sizes and focuses can help save you money and get you more applicants for a lower cost.
One size does not fit all. Over the course of any given year, you’re not simply hiring for one type of position. You’re likely hiring across the gamut, from entry level to execs. Those groups aren’t looking for jobs in the same way. The sites on which people search for jobs may depend on their job level. Upper management and execs, people with work experience and peers across many companies will network on LinkedIn; entry-level workers will hop on Indeed to check out openings. But if you’re advertising your openings on just one site, you’re treating those job seekers the same.
You’ll reach a deeper pool of candidates. Building on the above point: Top execs may not check for job openings — but some do. Entry-level salespeople aren’t usually networking on LinkedIn — but those who are top achievers just might. So you’ll want to advertise across multiple channels, Pay-Per-Click + Programmatic + Advanced Email Marketing + Social Media, to make sure you’re reaching the deepest pool of candidates.
Diversity breeds diversity. It only stands to reason that if you diversify your ad spend by spreading it across different sites, channels and outlets, you’re going to attract a more diverse set of candidates.
Study after study links diversity in the workplace to a healthier bottom line. And that’s the goal in the end, right? Choosing great hires to make your workplace even better. It starts with diversifying your recruitment ad spend.