Websites serve various purposes like marketing, providing information, or rendering services. Certain websites aim to earn revenue from users in return for the service provided. Job board websites or job portals are those websites that provide service to two types of customers –the job seekers and the employers by providing some specific services and resources and charging money in return.
Job board development offers candidates opportunities to get job details and contact recruiters. Employers can also access candidates’ profiles and details to arrange recruitment for relevant posts. The job boards charge basic fees for the services and make profits. Various ways help job boards to monetize the website and diversify revenue streams. This article will discuss the top 8 ways to monetize a job board website.
Know How To Monetize A Job Board Website By Charging Employers And Job Seekers
As a job board website owner, you generally serve customers who are either your employers or job seekers. Most of your revenue opportunities revolve around these two groups of target customers. Let’s know how you can monetize your job board website by charging employers and job seekers.
It is the most common and direct ways to monetize job board and the best method of earning revenue The job portals charge employers and recruiter companies for providing them with relevant information about qualified candidates that can fill suitable positions in the organisations. It can also charge employers to place job postings on the website that job seekers can access. There can be different services for which the job board charges fees from employers, which are as follows:
Resume Access: The job boards charge the employers to access the candidates’ resumes and profiles to help them shortlist suitable candidates conveniently. This process helps them hire new employees much faster, so employers are ready to pay for it. Employers mostly use popular job boards to reach a wide range of job seekers and arrange for recruitment to fill up suitable positions. Another way a job portal can monetize its services is to sort out resumes as per employers’ requirements and provide access to relevant details by charging an additional fee.
Job posting: Job boards rely on job posting by employers as their source of revenue by charging them for listing their jobs on the website for a certain period. Employers are willing to pay for listing their jobs on the job board websites to get a quick response from job seekers. This would help employers find qualified candidates more easily. The number of fees charged to employers can vary according to the number of jobs and the organisations.
Featured listing: Job boards can earn extra revenue by promoting specific employer listings for an additional fee. It can charge employers for offering certain customized services that can help feature the company’s page in a prominent position on the website for better viewing and accessibility by prospective job seekers.
Charging Job Seekers
Many job seekers regularly visit job board websites, which allows them to connect with prospective employers. The demand for job boards with user-friendly features has increased as people actively search for a job. This has opened up more ways to earn revenues by charging fees from the job seekers for helping those find new jobs through the websites. The different services for which the candidates can be charged are as follows:
View jobs: It is a regular practice to charge job seekers a monthly or yearly fee for viewing jobs on the website. There may be options to display job postings for free, but job seekers need to pay a fee to get further details and contact information of recruiters. The candidates under the subscription scheme get regular updates about jobs and recruiter details who have searched through their profiles.
Featured resumes: Job portals charge job seekers for featuring their resumes on the website to get them noticed by prospective employers more easily. The resume will be highlighted to get the attention of employers, and the job seekers need to pay an amount for this customized service. As employers search for suitable candidates, these featured resumes will get more visibility and attention, increasing the chances of positive responses.
Resume writing: Another source of revenue is to offer candidates the service of writing a professional resume which helps them stand out in the crowd. The candidates need to pay some charges for this resume writing service. Many job portals collaborate with professional resume writers or agencies and earn a share of the revenue for every customer they refer. The job boards often promote some paid courses for interview skills or personal development of job seekers and receive fees in return.
Other Modes of Job Board Monetization
Job back fill: In the initial stage of launching a job board website, there may not be too many job listings on the website. In this situation, the best way to make the website popular and also earn revenue is to list jobs from other renowned job sites. It is an affiliate model which allows earning commission every time a job seeker clicks through the job listing on the website.
A job board that has become popular and has a large customer base can earn revenue by placing ads on the website. Many companies find it suitable to place ads on the website to increase their brand visibility and pay for the additional opportunity to get noticed.
Job boards owners can think of different ways to monetize their website by offering various services and charging fees. The job board services must be need-based to attract more users who visit the websites to get solutions. The market is going through continuous changes, so the job board development services should be unique and efficient to engage more users and make it profitable. You can consider implementing different ways of job board monetization discussed in this article to start generating more revenue from your job board development