DENVER--(BUSINESS WIRE)--Veritone, Inc. (NASDAQ: VERI), a leader in building human-centered enterprise AI solutions, and Talent Tech Labs, a renowned talent technology research and advisory firm, have released new findings in a joint study titled, “Next Generation of Job Advertising: Strategies for Generating the Best Sourcing Results.” The research provides key insights into the evolving landscape of job advertising, focusing on how companies can optimize sourcing strategies to improve recruitment outcomes.
In an era when effective recruitment is becoming more challenging, the study highlights the importance of balancing candidate quantity with quality and emphasizes the role of advanced technologies such as programmatic advertising and job distribution in achieving that equilibrium. This comprehensive study surveyed 82 companies across eight major markets, including the U.S., U.K., Europe, Australia and Canada.
Key findings include:
- Social Media Dominance: The research shows that social media has overtaken traditional job boards as the top channel for job advertising. It is used by 76% of respondents, with LinkedIn being the most utilized platform. Social media allows for more targeted candidate outreach, enabling companies to attract high-quality candidates efficiently.
- Programmatic Advertising Adoption: While only one-third of companies surveyed currently use programmatic advertising, among those that do, 62% use both programmatic and job distribution strategies. Programmatic job advertising allows for targeted ad placement and real-time bidding, helping recruiters reach the best candidates while optimizing costs.
- Budgeting Trends: More than three-fourths of the surveyed organizations expect to increase or maintain their job advertising budgets in 2024, with a clear focus on digital strategies such as job distribution and social media advertising. However, organizations still face challenges in tracking ROI and ensuring cost-effective hiring practices.
- Global Recruitment Dynamics: The study also reveals geographic differences in job advertising strategies, with Europe favoring traditional job boards more than other regions, while Australia shows a significant reliance on Seek, a popular job board in the region. The U.S. shows growing adoption of LinkedIn and programmatic platforms like Veritone Hire.
“Job advertising is a constant challenge for organizations, and rapidly evolving technology can be difficult to navigate,” said Dustin Schrader, Senior Analyst, Talent Tech Labs. “This report was developed to assess the current state of the market, examine today's most significant job advertising obstacles and reveal insights on the tools that are most effective to overcome them.”
“This research underscores the evolving landscape of job advertising and the need for companies to adopt new technologies to remain competitive,” said Alex Fourlis, general manager, Veritone Hire, Veritone. “For most organizations, programmatic job advertising and job distribution technologies are no longer optional tools – they are becoming essential for organizations to attract top talent while managing costs. The research results also highlight the rise of LinkedIn and social media and our 2024 campaign analytics point to LinkedIn as the fastest-growing source for applicants. The future of job advertising is likely omnichannel.”
Veritone and Talent Tech Labs will co-host a webinar to discuss analysis and insights from the research at 11 a.m. ET on October 30. Click here to register.
To download the full report, visit: https://talenttechlabs.com/provider-insight-report-next-generation-of-job-advertising-strategies-for-generating-the-best-sourcing-results.
About Veritone
Veritone (NASDAQ: VERI) builds human-centered enterprise AI solutions. Serving customers in the media, entertainment, public sector and talent acquisition industries, Veritone’s software and services empower individuals at the world’s largest and most recognizable brands to run more efficiently, accelerate decision making and increase profitability. Veritone’s leading enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models, transforming data sources into actionable intelligence. By blending human expertise with AI technology, Veritone advances human potential to help organizations solve problems and achieve more than ever before, enhancing lives everywhere. To learn more, visit Veritone.com.
About Talent Tech Labs
Talent Tech Labs is an independent, objective, global talent technology research and advisory firm. Through expert research and advisory services focused on Talent Acquisition and HR technology, Talent Tech Labs empowers leading corporations, staffing firms, and solution providers to capitalize on rapid innovations in automation and AI that are shaping the future of work. Talent Tech Labs’ insights, evaluations, benchmarks, technology taxonomy, and research are highly valued by both technology buyers and builders, as well as the investors funding future developments in the field.
Safe Harbor Statement
This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
