When we think of the recruitment industry, we tend to think about agencies, rather than classified advertising – even in the advertising world, we rarely hear that categorisation. But if we remember our history, recruitment advertising was largely a classified ad market, with lineage ads in the back of trade publications and local newspapers – before the internet came along.
It was largely grouped alongside cars, property, holidays and personal ads.
So, if we are to think about the future of recruitment advertising, what might we learn by looking at our sister classified markets?
A good starting point might be CarGurus.
In case you missed it: CarGurus is the largest automotive market place in the US, and recently launched in the UK with their eye on market leaders, Auto Trader and Motors.co.uk. They were started just over 10 years ago in 2007 by ex-TripAdvisor entrepreneur, Langley Steinert, and are now worth $4.4 billion after their IPO on Nasdaq in Oct 2017. Not bad going!
So, what is it that they do that sets them apart and where are the similarities with the world of recruitment advertising?
1. They were the first to have car dealer reviews. Recruitment equivalent:Employer reviews on Indeed or Glassdoor. Perhaps we can expect recruitment agency reviews next?
2. They have a very clever algorithm that tells you if the car is under or overpriced, and orders the results accordingly. Recruitment equivalent:Imagine the relevant jobs (title and location) ordered by salary package and employer rating?
3. They try and get all the car ads on their site in the belief that if they have all the cars, they will attract all the buys. Recruitment equivalent:Aggregator approach, but focused on direct employers. Like Indeed and LinkUp (growing like crazy in the US).
The reason that they have managed to be so successful so quickly in a well-established market, is due to the approach of their founder Steinert, focus on car buyer experience and the resulting consumer reviews, combined with some clever ranking tech and having lots/all the cars on the site.
There must be some ideas and lessons that job boards can learn from that!
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