In a significant shift for the recruitment industry, Yahoo! Inc. (NASDAQ:YHOO) today announced Yahoo! HotJobs Pay Per Candidate, the first performance-based online recruitment product that allows recruiters the option to pay for candidates instead of just paying per listing.
This will help recruiters tie their dollars directly to results, allocating their budgets to only the most relevant candidates while speeding up the recruitment cycle. The product will be formally introduced to the recruitment community at the Society for Human Resource Management Annual Conference (SHRM) being held in New Orleans, June 28-July 1.
"Recruiters are being asked to find top talent using fewer resources than ever, and Yahoo!'s Pay Per Candidate model gives them the tools to increase the accountability of their listings," said Chris Merritt, vice president and general manager, Yahoo! HotJobs. "With recruiters facing resume overload in today's job market, the Pay Per Candidate solution will allow them to spend their time and budget on only the best candidates."
Yahoo! HotJobs' Pay Per Candidate product offers recruiters greater control over their budgets and their listings, including the ability to cap the number of pre-screened candidates they receive per job posting when candidates apply on the HotJobs website. Recruiters purchase credits for each job posted, but their account is only charged when a candidate applies for the job listing or clicks through to the recruiter's hiring site. In the interest of providing maximum flexibility, recruiters can easily shift unused credits to other open positions should a job be filled or priorities change.
The new product also offers a filtering option, in which recruiters can use a customized questionnaire to automatically filter out candidates based on their responses. Alternatively, recruiters can choose to have jobseekers click through a link directly to the recruiter's Web site.
"Pay Per Candidate not only saves me time, but money as well," said Kyle Carey, director of Internet Marketing, Advanced Medical Personnel Services, Inc. "Because of how I set up the product, my team spends its time reviewing only relevant resumes. I don't pay for resumes that don't meet my criteria, only those that meet our standards determined by our questionnaire."
Yahoo! HotJobs reaches an average of 16 million unique visitors per month through the Yahoo! Network, the Newspaper Consortium and other channels. For the past 21 months, Yahoo! HotJobs has been the second most-visited job board, according to comScore.
For more information about Yahoo! HotJobs Pay Per Candidate, as well as the entire line of HotJobs products and services available to recruiters including Smart Ads, Twitter integration, job post options and more, please visit www.hotjobsresources.com.