Indeed, whose mission is to help people get jobs, is taking its pay for performance value to a new level with Pay for Results pricing, which includes pay per application (PPA) and pay per started application (PPSA). This pricing offering aims to help employers hire faster and easier. PPA delivers quality applicants that meet an employer’s preferences and charges them only when they receive an application, rather than when they receive job ad clicks. Employers can review the price per application, set an application limit based on their budget, and automatically reject applications that don’t meet their needs by setting predetermined requirements. Additionally, employers have 72 hours to manually reject any application before being charged. With PPA, employers who post jobs directly to Indeed pay when they get completed applications. With PPSA, employers only pay when applications are started from higher-intent job candidates. PPSA primarily supports large employers whose jobs are available on Indeed1.
“Our vision is to make the hiring experience as easy as pushing a button which is why we’re on a journey of evolving into a comprehensive matching and hiring marketplace,” said Chris Hyams, CEO of Indeed. “As a company whose mission is to help people get jobs we want to get paid when we deliver qualified candidates, which means opening up new payment options that fit the needs and preferences of employers.”
Indeed helps employers make more than 20 hires every minute, which is more than double the rate from three years ago (2019)2. Employers continue to find value in Indeed’s approach to helping them hire, as 89% of employers report they hire their best people on Indeed3.
Research shows that a majority of employers (52%) selected Pay for Results as the top pricing model4 when compared to Pay for Clicks (22%) and Pay a Flat Fee per Job Post (22%). In addition, 84% of employers also report they believe they should only pay when they receive a quality candidate from an online job site5.
HR Advisor, Consultant and President, Editor-at-Large at RecruitingDaily William Tincup shares, “It’s easy to forget that many years ago Indeed fundamentally changed the job board business by using aggregation to better help both candidates and employers. Now, fast forward to today and they’re bringing the industry forward once again with pay per application and pay per started application options. I love and support what Indeed is doing and think it’s a stroke of genius.”
Several employers are already hiring with Indeed’s Pay for Results options, and they will soon be available to even more employers in the U.S. and UK. Indeed will bring these Pay for Results options to employers around the world later this year and beyond.
HR Director of Ultra Physical Therapy and Hand Center Aurore Lariven adds: “I was pleased to see something a little bit out of the box with regards to how you actually bill for candidates. Being able to adjust the candidates coming in and rejecting them, I feel like I have more control on how candidates come in over time when I advertise.”
Indeed’s advancements come at a pivotal time in the global labor market as employers face ongoing challenges to hire. In the U.S., the Indeed Hiring Lab recently shared that the labor market is currently slowing down, but not stalling. Longer term, hiring is expected to remain challenging for years to come due to an aging population, less migration and changing worker preferences.
As part of Indeed’s evolution, the company is helping tackle employers’ top barriers to hiring6, including:
- Time it takes to hire (43%)
- Poor quality of candidates (41%)
- Competition from other companies (38%)
- Not enough applicants (31%), and
- Lack of people resources to manage the hiring process (26%).
With 300 million unique monthly visitors7, employers can find quality candidates quickly through Indeed’s matching engine that learns an employers’ preferences for skills and work experience for their jobs. Indeed then matches job seekers who meet employers’ preferences quickly and easily. This allows employers to skip the busy work and connect directly with candidates within hours instead of days or weeks. Indeed also automates recruiting tasks like scheduling and messaging so that employers can go straight to interviewing qualified candidates.
See More:
- How Paying for Results Can Maximize Your Hiring Budget
- Learn more about Indeed’s Matching & Hiring Products
- Learn more about Pay for Results Pricing
- Learn more about Indeed’s Employer Product Solutions
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