What does Big Data have to do with online job applications?
A lot really! At CareerJunction we love following online recruitment trends, but harbour another sneaky passion - online recruitment analytics.
Over the past 12 years, with over 2,4 million registered users and over 1,4 million CVs, CareerJunction has collected a wealth of data concerning the labour market in South Africa. Analysing that data into usable chunks of cool info is pretty darn complex and time-consuming, a problem many companies struggle with around the world.
The question is what to do with all that 1's and 0's? At CareerJunction we take data analysis very seriously - we have a German statistician on our payroll so you know we mean business. We regularly monitor online recruitment trends and share our findings with the world (we recently released SA's latest salary trends for example).
Which brings us to our latest trend alert. We conducted an analysis* comparing the response rate of 1,000 online Job Ads that included Salary details versus 1,000 online Job Ads that didn't. The result?
Not surprising, there was a significant difference when looking at the average number of Job Ad responses per online Job Ad (when comparing Job Ads containing a nice juicy salary to those that didn't).
On average, online Job Adverts that included salary information received a whopping 41% more applications compared to Job Ads without any salary indications. Job Adverts that included salary information also received 39% more contact requests (and applications) compared to Job Ads where a salary was no where to be found.
This highly suggests that active and passive CareerSeekers are more likely to click on that big apply button if they know upfront what their earning potential will be. This of course has a direct impact on the amount of responses a Job Ad will receive.
So, if you're an Online Recruiter looking for a competitive advantage, we suggest including a Salary in your online Job Ads next time.
If you're an Online Recruiter looking for a competitive advantage, we suggest including salaries in your online Job Ads next time. It will help you attract greater interest; give your jobs more visibility in job search results and job alerts; as well as increase your responses and selection of quality talent to choose from. Thank you Big Data.
Visit us at www.careerjunction.co.za/itools to check out our services.
*The sample was drawn from online Job Adverts published by CareerJunction Recruitment subscribers. All online Job Ads were active between 23 February 2014 and 02 April 2014 and were live for 30 days. The performed analysis was based on a two sample Student's t-test.