The declining effectiveness of classic advertising on job portals is a daily reality. Why is this happening, and what can we do to attract quality candidates?
Let's look at some key reasons and possible solutions.
Unemployment rate and labor market competition
According to data from the Statistical Office of the Slovak Republic, the unemployment rate in Slovakia stood at 6.1% in the first quarter of 2024. This represents a decline compared to previous years, when unemployment hovered around 7–8 %. A lower unemployment rate means fewer job seekers and greater competition among employers. In this environment, traditional job advertising becomes less effective because potential candidates have more options and are more selective and demanding regarding the information published in job postings.
Change in candidate behavior
Candidates today look for jobs differently than in the past. This isn't just true for Generations Z and Y. While a few years ago job portals were the primary source of job openings, today A large part of recruitment is moving to social networks like LinkedIn and Facebook., or specialized career portals. According to a LinkedIn survey, as many as 70% of candidates prefer to look for jobs through social media. These platforms offer a more interactive and personalized approach, making them more attractive to candidates.
Fluctuation rate and long-term sustainability
Another factor is the high employee turnover rate and the general trend of declining employee loyalty. According to a survey by Grafton Recruitment, the average annual turnover rate in Slovakia is around 20%, with some positions seeing a turnover rate as high as 50%. This means that employers must constantly seek out new talent, which increases the pressure to ensure the efficiency of recruitment processes. Traditional advertising is often insufficient to attract and retain high-quality candidates who are looking not only for a job but also for meaningful integration, career growth, and attractive benefits.
So what works?
Active sourcing and personalized approach
Candidates today expect a personalized approach. Instead of waiting for responses to job ads, it's more effective to actively search for potential employees on social networks, career forums, and other platforms. This approach requires more time and effort, but yields better results.
Employer Branding
Building a strong employer brand is key. Candidates want to work for companies that have a good reputation, offer opportunities for personal and professional development, and care about their employees. Investing in employer branding campaigns can significantly increase your company's attractiveness.
Innovative recruitment methods
Research and try new recruitment methods, such as virtual career days, hackathons, or internal referral programs. These methods allow for an interactive and dynamic approach to recruitment and can attract high-quality candidates who might otherwise overlook your offer.
Data analysis and process optimization
Using data to optimize recruitment processes is a necessity today. Analyze which channels bring the best candidates, track the success of individual campaigns, and adapt your strategies based on the data obtained. Automation and the use of HR software can also increase recruitment efficiency and accuracy.
Conclusion
Classic advertising on job portals no longer works as we were accustomed to in the past. Due to lower unemployment rates, changing candidate behavior, and high turnover, we must seek new and innovative ways to attract and retain qualified employees. A personalized approach, strong employer branding, innovative methods, and data utilization are key to successful recruitment in today's competitive environment.
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