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 Resume, a database searchable by industry, education, title and location in 2011.
Since then, Indeed Resume—which is completely free for job seekers to create or upload their resume—has grown enormously: up from one million searchable resumes at the end of 2011 to over 120 million today. With 90K new resumes added or updated on Indeed Australia each month and a 44% average response rate, it’s become a powerful tool for recruiters.
In the coming months we’ll be making a change to how we price Indeed Resume for employers, moving to a subscription model. We believe this will be more effective for both employers and job seekers. 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’
At present, searching Indeed Resume is free while most employers pay on a per contact basis for each candidate they reach out to. Searching the database will remain free, but employers will soon 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 job seeker experience by limiting irrelevant contacts.
Ultimately, our goal is to make Indeed Resume 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 recruiters have different needs there will be two levels of subscription*. A “Standard” subscription grants you access to contacts in Australia. It will cost $30 per month for 30 contacts, or $100 per month for 100 contacts. Option two is a “Professional” subscription which grants you access to contacts globally. It will cost $125 per month for 30 contacts, or $300 per month for access to 100 new contacts.
Every time a job seeker responds to your outreach, you will be granted with contact credits**. Indeed will also give contact credits to employers when they get a response from a candidate. When a job seeker is interested in learning more about a role you’ll receive two contact credits and all other 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 job seekers where Australian employers receive on average a 44% average 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 Resume subscriptions and contacts in our interface.
This is just the start of many improvements which are already underway that will make Indeed Resume the best place to find and engage with talent. We will be announcing more improvements in the coming months.
*Terms, conditions, quality standards and usage limits apply.
**Contact credits will be awarded solely at Indeed’s discretion and Indeed reserves the right to change the contact credits system at any time.