Complete guide to creating and monetizing a job portal software

Job portal software business models have grown significantly over the last few years. From classified job platforms to AI-powered job board applications, we have come a long way. In 2022, the demand for an intelligent and smart job board is on the rise due to the constant pressure of closing, hiring, and retaining talent.

The job search portal Indeed.com has 200 million visits per month. “Google for Jobs” has 300 million job searches monthly. The hiring slowdown of 2020 and 2021 is now paving way for rapid recruitment for companies of all sizes. And these employers are proactively hiring and approaching publishers to post on relevant job portal software where their target audience resides.

If you’re looking to start an online job board, now is the best time. Before going into why you should hire Knovator Technologies job portal web development, let’s look at how to create a custom job portal software and how to monetize your job board platform.

6 step process to create and launch job board software

Step 1. Determine your goal and business plan

First of all, you need to have a business, sales, and marketing plan in place. Even before approaching a job portal web development company, define your goal along with long-term and short-time plans. Alongside, all the costs and profit metrics to your objectives.

It’s important to also have a site with legal and other important policies as an integral part of your business plan.

Your job board software plan should have:

• Infrastructure and resource investment
• All the major policies from client to employee policies
• Plan to set up an online and offline presence
• Hiring a SAAS job board software that can implement your plan
• SEO/SMO/Mobile marketing and sales plan
• Inside and direct sales
• Quarter-wise budget spent on online and offline advertising and marketing
• In-house hiring and recruitment process
• Refund policy
• Competitor study and list of features required/must to have/innovation and automaton based features

Step 2. Choose a job niche

Your audience is important and it’s recommended to start with all the niches available today. However, you cannot just add the entire niche at once as it will increase a lot of technology and business efforts. To add more value to your website readers, ensure that your job board software publishes relevant jobs.

Some of the options include:

Internships – In 2022, skills matter most along with experience. Companies are looking for talent that can fill gaps at a competitive salary scale and act as a full-stack professional dealing with technology, business, and other segments. Freshers find it hard to get a job and you must have a section for internships to help them get an internship, gain real-time experience, and find competitive jobs.

For internship postings on your online job board software, you need to partner with companies and training institutes that offer paid or free internships. Perform a market analysis and build a form that can capture the exact requirement of an internship with details like type of internship, duration, responsibilities, KRAs, post-internship job chances, and a video tour of the type of job and feedback from previous candidates who have done internships.

One of the most important things is that institutes and companies must be accredited and their internship should be legal and acceptable in the market.

You can have a search filter within the job board software that helps interns to find an internship by date range, sector, sub-sector, skills, location, proximity, remote work, and paid/free internship. Interns can attach their audio/video/text CV or resume and apply in minimum clicks.

Post internship is completed, companies can upload payslips, achievements, experience, and certificates to ensure that interns can get the value of their internship. For business, they can provide a score to an intern and also receive feedback which they can showcase on their profile to attract interns. They can promote their brand to companies looking for skilled and intelligent freshers or experienced task forces.

Technology – One of the most high-in-demand sectors for recruitment, if you have a technology audience, don’t miss the opportunity of monetizing your readership with custom job board web development.

For a custom job hiring platform, hire Knovator Technologies to be your IT development partner. We manage your publisher job board integration features, along with adding candidate and recruiter features. Coupled with the latest HR trends in 2022, Knovator’s job board platform is designed to increase your revenue.

You can also include all the other innovative features like remote work filter, notice period, add skill tests, mandatory questionnaire, and experience requirements to ensure that candidate match is successful and the rehiring ratio keeps on increasing. Additional features include live openings and also show the number of jobs open. Choose an innovative UX where all the hot openings can be shown in a 4×4 grid along with logos of featured or top companies.

If a user clicks on it, they will view job details with an application link to proceed. You can configure further steps like attaching mock tests, resume upload, mandatory questions as per company and job requirements through Knovator Technology’s job board software.

To add on, there are also issues of last-minute offer decline and no-show that leaves recruiters with no option but to start over again in the IT sector

To quote the challenges and acceptance of the job board, here is a quick statistic from Zety. It states that a job posting attracts 250 candidates. Out of 250 candidates, only 6 will be called and 1 will be given the offer.

Imagine the candidate declines the offer and recruiters have to start again. With the inception of an intelligent job board software, this solution can be avoided as the software can help you with the 2nd and 3rd best options with recommendations to close the hiring without delay.

Manufacturing – The manufacturing industry was hit initially by Covid-19. However, now with the demand for essential services and vaccinations, manufacturing sector hiring is picking up.

You can have a dedicated URL for manufacturing jobs [same for technology and internships like www.yourjobboard.com/manufacturing-jobs].

You can have standard filters like company type, department, industry, experience, salary and location for the manufacturing industry.

Step 3. Focus on the features of job board software

• Branding – The job board app should allow hiring companies to upload logos, collateral documents, and also manage different templates for your clients. During posting a job or sending an email to a candidate, you can attach a template and save time in typing. You can also create job posting templates for repetitive openings.
• Customization – The job portal software should provide the capability to add custom filters, categories, recruitment process flow, manage job postings, set alerts, and automation for repetitive processes. You should only contact Knovator Technology for custom or white label job portal web development.
• Matching jobs and candidates – Powered with a smart search, your job hiring platform must provide industry-standard keyword recommendations during the job posting, submission, and application process. It will ensure that a candidate search and view/apply the right job fit to his/her profile and companies can ensure to reduce time-to-hire by receiving quality resumes/CV.
• Automatic job scraping – It’s difficult to contact companies and post jobs. Many companies will only prefer to post a job on their source. Your job board software must have a crawler that can post a job from its source into your job board.
• ATS – Recruiters can set statuses during a job posting and application process. They can filter jobs by status and track applicants. The ATS system will also fetch a candidate profile, contact information, and notes from previous job posts to ensure that recruiters are aware of the candidate before proceeding forward.
• Mobile and responsive web design – Your job hiring platform must open without any UI issues across mobile and web devices. It ensures that your customers can search, post, and apply for jobs at any time.
• Analytics – A dedicated employer/candidate dashboard can help gain valuable insights related to job postings, overdue job postings, hot resumes and application status.

Step 4. Reinvent your strategy based on market trends

You can visit other job board platforms like Linkedin, Glassdoor, Indeed, Naukri, and ZipRecruiter to gauge market trends and fine-tune the business processes of your job portal software accordingly.

Step 5. Before and after launch

You should have ample data on job postings on your site before launch. Knovator Technology has a dedicated QA team for job portal web development and will ensure to deliver a bug-free application. Along with this, you should have a team of business testers to ensure that all the processes are working fine as per the recruitment industry.

Post-launch, you must work with your database team to understand the load and fine-tune your infrastructure strategy and ensure that site is running 24×7 without downtime

Step 6. Sales and marketing strategy

Without a sales and marketing strategy, you are bound to lose focus and revenue options. You need to have a plan for budgeting, investor funding, online and offline marketing budget, content marketing budget, investments for search engine ads, video tours, and SEO as part of your marketing. From a sales perspective, you need to have an inside sales team to generate more leads and a direct sales team can nurture and close the conversions.

Now, with a solid understanding of the steps, we will proceed to the monetization strategies that can help you generate consistent revenue from your job board software.

How to monetize the job board software from employers?

As a publisher, you can charge a flat or recurring billing option for employers to post jobs on your job board platform. You can also provide add-on package features related to search, video job postings, time limitations for displaying a job, making a job featured, and automation of email campaigns, repetitive job postings and sharing analytics.

You can also provide a resume database based on experience and skills on a subscription or one-time payment basis. Many recruitment and other companies look for a quality resume database to attract talent especially if it is mass hiring in a new IT or BPO project.

As an experienced job portal web development company, we’d suggest you provide a featured company option for a company to feature on your home page with job postings.

How to monetize the job board software from candidates?

For candidates, a quality resume is a must. Apart from offering free samples, you can also provide a service to prepare their resume. You can sell courses related to job postings and provide an option to highlight their candidature with a course certificate.

In case you are a niche job hiring platform, you can also charge a fee for candidates to search and apply for jobs. It will ensure that only serious candidates are searching and using your site.

By offering featured profile services on your job portal software, you can highlight a candidate profile on top of a search result. With additional options like video and audio resumes, it is easy to generate more revenue.

Monetization model for other businesses

You can place ads and generate traffic on your site. It will also improve your ranking, revenue, and user base. What’s important to note is that your ads should appear naturally and should not disturb the user experience of customers.

Using a popular technique called job backfill, you can affiliate with many popular job portals and drive leads on their websites through ads on your job board software.

Banner advertising is another classic method of generating ads and establishing your brand reputation in the industry community.

In a nutshell, you must have a diversified revenue stream for your job portal software. However, you should not compromise on the quality of job postings and UX. Concentrate on gaining the repetitive trust of your customer base and it will ensure that the above monetization methods will add more value.

Let’s begin with a free consultation today with job board web development company Knovator Technology and get more details on your job board software development project. If you are a news publisher, university, association, community, you can also start a job board software.

You can earn a profit of $1,935 a month based on Knovator Technology’s analysis and if done right, it will take 2 months to earn profits. You can streamline your recruitment workflow, hire faster, and build a solid brand.