In today’s hiring landscape, it pays to be proactive when sourcing talent. To help recruiters take control of their hiring efforts, we launched Indeed CV, a database searchable by industry, education, title and location in 2011.
Since then, Indeed CV—which is completely free for jobseekers to create or upload their CV—has grown enormously: up from one million searchable CVs at the end of 2011 to over 100 million today. With 2.6 million new CVs added each month, and a 44% total response rate it’s become a powerful tool for recruiters.
Starting today we will change how employers use Indeed CV, moving to a subscription model. We believe this will be more effective for both employers and jobseekers. The change will make it much easier to predict and set recruiting costs while rewarding recruiters with tangible benefits.
From ‘Pay Per Contact’ to ‘Subscription’
In this new subscription model, searching the database will remain free, but employers will need a subscription to contact candidates.
Featured Employers will continue to enjoy unlimited contacts* through the first quarter of 2018, after which point they will need a subscription to contact candidates.
Why are we making this change?
We know that the best recruiters send out fewer contacts and receive the highest response rates, while improving the jobseeker experience by limiting irrelevant contacts.
Ultimately, our goal is to make Indeed CV the best place to find and engage with all the people you want to hire by helping recruiters become more efficient and effective, which will save them time and money.
How the subscription model will work
Because different recruiters have different needs there will be two levels of subscription, which are more cost effective than alternatives on the market. A “Standard” subscription will cost £75 per month and grant you 30 new contacts a month, while a “Professional” subscription will cost £200 per month and grant you 100 new contacts a month.
We’re also introducing something new: Indeed will give contact credits to employers whenever they get a response from a candidate.
What does this mean and how is it measured? Every time a jobseeker responds to your outreach, we will grant you contact credits. Positive candidate responses will receive two contact credits, and negative candidate responses will receive one contact credit. Better engagement from candidates means more contacts for employers, and greater value from your subscription.
But there’s also a financial benefit. With a platform of active jobseekers where employers receive on average a 44% total response rate, we expect to be rewarding lots of contact credits to employers. In fact, due to the credit system, many employers will have a lower cost per contact than what they currently experience.
What if you don’t use all these contacts in a given month? Simple: any unused contacts will roll over for up to 6 months. You can also distribute unused contacts with colleagues, by transferring them to their subscriptions. Administrators will have an easy way to manage and maximise their Indeed CV subscriptions and contacts in our interface.
More improvements are planned for 2018
We believe this change will also ensure a better experience for jobseekers, as it includes incentives to reward recruiters who have a high positive response rate. But more engaged jobseekers will also mean better results for recruiters.
This is just the start of many improvements which are already underway that will make Indeed CV the best place to find and engage with talent. We will be announcing more improvements in the coming months.
In the meantime, other things will not change. Indeed CV will remain free for job seekers looking to create or upload their CVs. And as always, it’s free for employers to include qualifying jobs on Indeed, and most of the hires that come from Indeed will continue to be free of charge.