The cost-per-application on job postings declined almost 30% in 2023, according to Appcast’s 2024 Recruitment Marketing Benchmark Report. Meanwhile, the average clicks and applies per job increased. Appcast notes that while the labor market is cooler, it “is still ‘tight’ by historical standards.”
Key findings from the report:
- The average number of clicks per job posting at the end of 2023 was 4.48, while the average number of applies was 0.7. These numbers represent increases, which Appcast says “[indicate] a larger supply of job seekers.”
- The median cost-per-click for a job add hit a new low of $0.85, down from $1.07 in 2022 and $1.10 in 2021.
- The median apply rate was up 22.5% from 2022.
- The median cost-per-application was $19.40.
“If you’re in talent acquisition, the past few years have likely felt like a rollercoaster ride. For the first time since the pandemic, recruiters are finally seeing signs of relief. We seem to be shifting away from one of the most turbulent labor markets we have seen in decades and experiencing lower costs and better outcomes when it comes to recruiting,” said Heather Salerno, chief marketing officer at Appcast said in a press release.
For more recruitment marketing data and insights, download the full report.
