A new Appcast report looks at applicant tracking systems (ATS), candidate relationship management (CRM) systems, and other candidate attraction platforms from the standpoint of two metrics, highest apply rate and lowest cost per application (CPA), for 12 job functions.
Why do these metrics matter? Because much can be gleaned from these numbers.
About apply rate
A high apply rate suggests that:
Your job ad resonates with candidatesYou’re posting to job sites where your candidate audience is lookingYour application process is user friendlyYour application process is mobile friendly
It may also suggest that:
Your employer brand is viewed favorablyThe job or jobs you’re advertising are in demand
About cost per application
Although there are occasional exceptions, a low cost per application (CPA) suggests some or all of the same contributing factors are present.
Why does it work this way? CPA is largely a function of supply and demand. When there are more candidates, the cost to acquire applications typically goes down.
This, of course, presumes best recruiting practices—your job ad resonates with candidates, you’re posting to job sites where your candidate audience is looking, and so forth.
Twice as insightful
Looking at both metrics provides a good snapshot of effectiveness.