Recruiters warned that job boards are set for bumper price hikes next year
The research showed that of the 40 job boards who answered the survey, 38 were planning rises above the rate of inflation, with the average rise being a whopping 7%. The highest price rise being implemented was 20% and the lowest 2%.
Principal consultant and Director of GKS Associates, Robert Woodford, commented “we’ve seen the shift in most sectors over the last 18 months from a client led to candidate led market, understandably job boards have picked up on that and feel confident that they can put up prices.” Woodford continues “but not only do they think they can put them up, some of the price increases are staggering and something I’ve not seen for a good number of years. This goes across both generalist and niche boards which is also an interesting development.”
This price increase is systematic of the reliance the industry has on job boards, and with the REC confirming recently that there are huge skills shortages in the economy, the job board is the first place for most agencies desperate to locate talent..
Woodford concludes that “two things are important. Firstly recruitment companies need to really look at their job board strategy and alternative sourcing methods. There are lots of methods out there to drive candidate attraction and the job board is only part of the solution not the sole answer. Secondly we are advising many of our clients to lock-in their rate before Christmas, however it is important that if you are going to do this you ensure your marketing team have the full ROI data to hand for this year to safeguard against over-committing.”