Job search site HotJobs, which is owned by Yahoo!, has announced a new performance-based offering for recruiters. Human resources professionals will now be able to pay-per-candidate, similar to pay-per-click.
With the offering, recruiters buy credits, but are only charged when candidates click on a listing and apply for the job. If credits go unused, they can be shifted to another listing. Additionally, recruiters will be able to set criteria to filter out candidates that aren't right for the job.
The new offering is poised to not just save human resource departments money but also to streamline the recruiting process as well.
"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."
Advanced Medical Personnel Services has tested the program and like what they see.
"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."
HotJobs sees 16 million unique visitors a month via their site, the Yahoo! Network and the Yahoo! Newspaper Consortium. It's easy to see how this could make quite an impact on the human resources industry.
What do you think of the introduction of performance-based marketing to job search sites? Share your impressions in the comments.