Indeed announced that its two new pricing models — pay per application and pay per started application — will be available to the majority of employers in the US and UK starting next month. They will be available to employers in other parts of the world starting later this year.
The company had rolled out the pricing option to smaller employers last fall.
“As a company whose mission is to help people get jobs, we want to get paid when we deliver qualified candidates, which means opening up new payment options that fit the needs and preferences of employers,” CEO Chris Hyams said.
Indeed’s pay-per-application pricing model charges employers that post jobs directly on Indeed when they receive a completed application rather than when a job ad is clicked. Employers can review the price per application, set an application limit based on their budget and automatically reject applications that don’t meet their needs by setting predetermined requirements. Employers will also have 72 hours to manually reject any application before being charged.
Employers currently posting jobs directly on Indeed will still be able to use the pay-per-click model for now, but the company will be transitioning to the pay-per-application model for all employers. New employers posting jobs directly on Indeed will be offered only the pay-for-results option going forward.
The other new pricing model — pay per started application — primarily supports large employers. It also primarily applies to jobs indexed by Indeed from across the web. Employers only pay under this model when job seekers hit the “apply” button and begin the application process.
Indeed cited its research showing a majority of employers (52%) selected “pay for results” as the preferred pricing model when compared to “pay for clicks” (22%) and “pay a flat fee per job post” (22%). In addition, 84% of employers also report they believe they should only pay when they receive a quality candidate from an online job site.