The recruitment business is growing by leaps and bounds. As per a recent report, the industry is expected to reach $43.38 billion by 2027. What’s even more interesting is that several thousands of employees have lost their jobs during the recent tech layoffs.
That’s good news, especially for companies looking to build their recruitment business with an online job portal for employers and job seekers. The market is finally picking up pace, after the last two years of slow growth.
That said, if you are looking to leverage the supply-demand gap in the recruitment industry, it is the best time to hire a job portal development company.
Why you may ask.
Let’s deep dive to find the answers.
What are the benefits of hiring a job portal development company?
#1. Saves time
For organizations, conducting a physical job fair is costly and requires a lot of time and effort. Managing a virtual job fair is easy because there are no wait times and video interviews can happen instantly. The technology is fail safe so if an employee wants to cheat during a video interview, the video interview can shut down.
With the integration of normal features like emails and texting, it’s easy to plan, organize, and execute a job fair. The ease of online recruitment is one of the most important benefits of job portal development service companies.
#2. Intelligent screening
When an employee profile is created, it’s important to upload all the credentials that verify the documents. It’s very easy to set up custom screening rules including governance, professional, aptitude, bind tests, and document verification processes that run like a wizard in these rules to ensure you get the desired candidate in minutes, and not days.
Intelligent screening, as a feature in job portal development, reduces the screening time from days to minutes.
#3. One-stop solution for candidates
From a candidate’s perspective, they can apply to jobs faster and increase their chances of getting screened by tailoring profiles as per the company’s job requirements. With automatic keywords suggestion, it’s easy to customize the profile with industry-standard keywords that help recruiters and candidates to connect with each other quickly.
Candidates can subscribe to job updates through emails/WhatsApp and also save custom job alerts. They can receive and multi-apply job postings without searching again and again.
#4. Deep searching and dashboard
Candidates and recruiters can search each other by location, industry, salary, special filters related to work from home, radius search, and combine other sort filters to get to their desired job posting.
For candidates, the biggest advantage of job portal development is that they can apply to multiple jobs online, without having to physically visit multiple offices.
Candidates can also customize their dashboard by receiving alerts as per their preferences and get notifications and reminders on a hot job posting or candidate availability.
Now that the benefits of job portal development for employers and job seekers are well-known, let’s answer another critical question.
Looking for a professional job portal development service?
Can a job portal development company help you monetize the fast-growing recruitment business?
The answer is, yes. There are numerous ways in which you can monetize your job portal. Here’s how a job portal development company can help you do so.
#1. Charge for job postings
For companies looking to recruit candidates through your job portal, you can charge for job postings. By combining a wide range of features, it will be easy to propose to a recruiter that they can pay for premium/classic postings and get visibility for a certain period.
#2. Charge for employee or candidate services
You can charge employees for automatic document verification that they can send to a company asking for background verification. You can also charge for resume building, training, cognitive improvement, and communication skills improvement services.
You can keep spaces where recruitment or non-recruitment companies can publish their ads and you can earn by clicks or conversion. When the companies know that their product/service reaches a highly targeted and engaged audience on your online job portal, they will be willing to pay for the exposure.
This means you get high ROI from hiring a job portal development services company, since you can monetize your job portal in several ways.
What are the key features you should expect from job portal development services?
1. Linking to social media accounts – Candidates and recruiters can link their LinkedIn and other accounts and also create their profiles with keywords, job titles, profiles, and upload a resume. Profiles should auto-build through resumes and candidates should not fill everything manually. Recruiters can also create departments, and templates for different types of job postings, and manage their recruitment processes.
2. Conduct video interviews on the portal along with text and audio messaging with recordings for the audit trail.
3. Job application tracking system with the ability for recruiters to design their tracking statuses and get timely updates on old jobs vs TAT.
4. Searching, sorting, and notifications on the app and also on emails, SMS, Whatsapp and more.
5. In-app calling and contact sharing features along with video and texting.
6. Build CVs as per industry standards through a step-by-step wizard.
7. Custom rules and alerts management like search and save job alerts, receive push notifications, search, and receive desired candidate profiles.
8. Payment integration to accept payments through the app.
9. Mobile app development to ensure that candidates and recruiters can stay connected on the mobile app also from across geographic locations.
Lastly, before you hire a job portal development company, you should have a clear idea of your budget, an overview of the features you would need and what kind of audience would your job portal cater to.
Once that is clear, the next step is to hire a job portal development services company that can ensure that your job portal is scalable, secure, and equipped with the latest technologies.
Knovator Technologies is one of the leading job portal development companies that can help you ride on the latest recruitment trends and drive high revenue with a highly-efficient job portal.
You can either implement their plug-and-play job portal or hire them for custom job portal services to build your job portal. Investing in a job portal is the best decision you can make for your recruitment business.
Schedule a free demo with Knovator’s expert development team to know more about the benefits of job portal development.