From pressed for money, to impressed by money, it seems that money truly does talk when it comes to candidate response rates, with the number one factor that encouraged our student and graduate members to click-through on job vacancies being salary.
Check out the top five factors which increased click- through rates for graduate vacancies listed across the TARGETjobs website:
1. Salary– When it came to the criteria that resulted in the highest click-through rates (CTR), adding full salary information (as opposed to simply saying ‘competitive’) had the largest positive impact on CTR. The percentage change when the salary was present was a stupendous 15.6%, which was a full 4.3% above second place. The majority of applicants will be entirely self-sufficient for the first time after acquiring a job and so it is predictable that if a salary is posted then they can immediately determine if it is sufficient enough for relocation, staying at home, and their required living conditions (e.g. rent, food, travel etc). It can also show that employees are valued, as the higher the salary the greater value they are putting on that job role; it can prove that the candidate is not just another expense.
2. Location– The second largest impact was made by listing the job locations which resulted in an 11.3% increase in CTR. Whether a candidate wishes to relocate or to remain, they need to know the whereabouts of their job role. It can determine their travel options, experience and quality of life.
3. Number of vacancies– Interestingly, with a 10.4% increase, adding the number of vacancies came in as the third highest influencer of applicant CTR. Evidently, candidates are judging their chances based on how many positions are posted and are interested in understanding other opportunities which may be available at a company.
4. Degree subjects accepted– One extremely effective criterion was listing all the degree subjects that a specific job application accepts. It produced an increase in click-through rates of 7.9%. Candidates want to know whether their degree pertains to the job in order to judge their chances of application success.
5. Holiday– We all enjoy time away from work and graduates are no different. If you have a generous holiday allowance, shout about it as the addition of the amount of holiday days provided for a specific job role produced a 7.9% increase in CTR responses. Evidently, candidates are more likely to respond if they can compare it to other jobs before applying.
So, salary is the highest producer of candidate click-through rates, and it is no surprise that location, degree subject, number of vacancies and holiday days have topped the list of criteria that candidates are looking for when it comes to a job.
But what does this mean for your job vacancy postings? Well, it shows that the more information you give potential applicants, the more likely they are to engage with your job posting. With over 5,000 vacancies posted on TARGETjobs alone last year, ensuring your vacancy stands out from the crowd is essential if you want to attract the right candidates.
For more information on what other factors make our members apply, read the 2019 Graduate Insights Report here.
Alternatively, email our sales team on sales@groupgti.com or call 01491 826262 to find out more.
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