Indeed, whose mission is to help people get jobs, is taking its pay for performance value to a new level with Pay for Results pricing, which includes pay per application (PPA) and pay per started application (PPSA).
This pricing offering aims to help employers hire faster and easier. PPA delivers quality applicants that meet an employer’s preferences and charges them only when they receive an application, rather than when they receive job ad clicks.
Employers can review the price per application, set an application limit based on their budget, and automatically reject applications that don’t meet their needs by setting predetermined requirements. Additionally, employers have 72 hours to manually reject any application before being charged.
With PPA, employers who post jobs directly to Indeed pay when they get completed applications. With PPSA, employers only pay when applications are started from higher-intent job candidates. PPSA primarily supports large employers whose jobs are available on Indeed.
“Our vision is to make the hiring experience as easy as pushing a button which is why we’re on a journey of evolving into a comprehensive matching and hiring marketplace,” said Chris Hyams, CEO of Indeed. "As a company whose mission is to help people get jobs we want to get paid when we deliver qualified candidates, which means opening up new payment options that fit the needs and preferences of employers.”
Indeed helps employers make more than 20 hires every minute, which is more than double the rate from three years ago (2019). Employers continue to find value in Indeed’s approach to helping them hire, as 69% of employers report they hire their best people on Indeed.
Research shows that a majority of employers (51%) selected Pay for Results as the top pricing model when compared to Pay for Clicks (12%) and Pay a Flat Fee per Job Post (33%). In addition, 79% of employers also report they believe they should only pay when they receive a quality candidate from an online job site.
Employers are already hiring with Indeed’s Pay for Results options, and they will soon be available to even more employers in the US and UK. Indeed will bring these Pay for Results options to employers around the world later this year and beyond.
Indeed’s advancements come at a pivotal time in the global labour market as employers face ongoing challenges to hire. In the UK, the Indeed Hiring Lab recently shared that the labour market is currently slowing down, but not stalling. Longer term, hiring is expected to remain challenging for years to come due to an ageing population and changing worker preferences.
As part of Indeed’s evolution, the company is helping tackle employers’ top barriers to hiring, including:
- Poor quality of candidates (52%)
- Time it takes to hire (43%)
- Competition from other companies (38%)
- Not enough applicants (34%), and
- Lack of people resources to manage the hiring process (22%).
Employers can find quality candidates quickly through Indeed's matching engine that learns an employer’s preferences for skills and work experience for their jobs. Indeed then matches job seekers who meet employers’ preferences quickly and easily. This allows employers to skip the busy work and connect directly with candidates within hours instead of days or weeks. Indeed also automates recruiting tasks like scheduling and messaging so that employers can go straight to interviewing qualified candidates.
See More:
- How Paying for Results Can Maximise Your Hiring Budget
- Learn more about Indeed’s Matching & Hiring Products
- Learn more about Pay for Results Pricing
- Learn more about Indeed’s Employer Product Solutions
About Indeed
More people find jobs on Indeed than anywhere else. Indeed is the #1 job site in the world (Comscore, Total Visits, September 2022) and allows job seekers to search millions of jobs in more than 60 countries and 28 languages. Over 3 million employers use Indeed to find and hire new employees. More than 300 million unique visitors use Indeed each month to search for jobs, post resumes, research companies and more. For more information, visit indeed.com.