Indeed introduces new payment options for employers.
The CEO of Indeed, Chris Hyams, stated that as a company that aims to assist people in finding jobs, they want to be paid when they provide qualified candidates. Thus, they are offering new payment options that cater to the needs and preferences of employers.
The pay-per-application model charges employers that directly post jobs on Indeed only when they receive a completed application, rather than when a job ad is clicked. Employers can set an application limit based on their budget and review the price per application. Moreover, employers can automatically reject applications that don’t meet their predetermined requirements. They will also have 72 hours to manually reject any application before being charged.
Employers who currently post jobs directly on Indeed can still use the pay-per-click model. However, the company will eventually transition to the pay-per-application model for all employers. New employers posting jobs directly on Indeed will only have the pay-for-results option available.
The other new pricing model, pay-per-started-application, is primarily for large employers and applies to jobs indexed by Indeed from various websites. Employers will only pay under this model when job seekers click the “apply” button and begin the application process.
According to Indeed’s research, a majority of employers (52%) preferred the pay-for-results pricing model compared to the pay-per-click (22%) and pay-a-flat-fee-per-job-post (22%) models. Additionally, 84% of employers believed they should only pay when they receive a quality candidate from an online job site.