Millions of people are seeking work, yet companies are finding it tough to fill positions. Something’s out of sync. The Society of Human Resource Management’s (SHRM) found that a “skills mismatch exists between job seekers and open positions.” The finding came from “Benchmarking Workforce Analysis 2015” with figures compiled from an eight-year study of 1,700 organizations.
The employer and job seeker may both feel like competing in a “pay to play” carnival game at the county fair where a prize appears within reach, but the participants come up empty.
Recruiting costs can total up to $ 3,500 according to SHRM and the financial website Investopedia. Bringing on a new hire is more than dollars spent to fill a slot. Matching the right skill set with the demands of a position is no easy task.
The job seeking and job-hiring quandary is where Santa Monica-based ZipRecruiter has found its industry sweet spot. The company launched in 2010 and makes it possible for employers to click once and post a job announcement to 100-plus sites.
Up to 20 million job alerts a day are sent to candidates, making ZipRecruiter the largest sender of job postings and alerts. A digital platform has made it possible to experience massive growth during the past calendar year. A report in Pando.com on July 3, 2014 said that, for employers, the company was on pace to deliver 3.5 million job listings for all of 2014.
“We want to be the fastest and easiest way to fill a job online,” said ZipRecruiter’s CEO, Ian Siegel. Currently, his firm is filling one in three jobs and is aiming to achieve an industry leading two in three ratio.”
Success isn’t only defined in numbers. Timing is an issue. Ian told me it’s, “much more impressive to deliver a large number of candidates in the first seven days your job is live.”
Programmers are the core skill set among ZipRecruiter’s 260 employees. Machine learning, said Ian, has been a reason for impressive growth in the first five years. “Too many companies rely on a post and pray approach, but we’re scientists. We use the same algorithm that Google uses that learns the behaviors of the job seekers.”
Machine learning widens the search net. If someone searches for terms like product manager, then related terms like product marketing will surface, too.
An insightful touch for businesses comes alongside the high tech with ZipRecruiter finding ways to help employers refine their candidate search efforts.
“We study the problem of filling jobs and the biggest part of the problem is often the quality of the job posting.”
Ian said they don’t have control over how ZipRecruiter is used and small adjustments can create major differences.
“We improve what the employer does. A company in a small town, adjacent to a major metropolitan area, may only post a notice in their local area. Posting it in the metro region covers their town and opens up many more possibilities.”
Ian and his team are growing ZipRecruiter beyond a low cost job posting service. They’re launching features that he says is getting closer to the “Bulls Eye” of what the customer wants.
They are positioning products and services that serve the Small to Medium Business sector at each critical stage of need:
- Finding candidates
- Benefits enrollment
- Payroll services
“It’s been clear that once we solved one problem, requests have come in for us to solve another.”
Those requests continue building and adding to ZipRecruiter’s tens of thousands of customers. There are six million businesses in the U.S. with more than two employees and Ian sees building toward hundreds of thousands of customers.
Small businesses are referred to as the engine of the economy. ZipRecruiter is making its mark as a support platform for delivering people–the asset that makes the engine perform.
For more on Zip Recruiter’s offerings, log on to the company’s website.
Read more on employer relations on the Society for Human Resource Management’s website.