Indeed Resume, which houses the world’s largest database of resumes (more than 100 million), will adopt a subscription-based model by the turn of the year and say goodbye to its current, pay-per-contact model.
Presently, employers and recruiters browse Indeed’s database of resumes for free and only pay on a per-contact basis for each candidate they contact.
From January 2018, searching the database will remain free, but employers will need a subscription to contact candidates. And there will be a ceiling on the number of contacts in a month, Indeed.com announced on its blog.
The agreement signed with featured employers gives them access to unlimited contacts until the end of Q1 of 2018. From Q2, they will also need to sign up for the subscription.
There are two levels of subscription: a standard sub and a professional sub. Employers and recruiters signing up for the standard subscription will have access to 30 new contacts in a month for $100 U.S.. With the professional subscription, they will get up to 100 contacts in a month for $250 U.S..
Unused contacts will roll over and accumulate for up to six months.
“We’re also introducing something new: Indeed will give contact credits to an employer whenever he gets a response from a candidate. Every time a job seeker responds to an outreach, we will grant the employer contact credits. Positive candidate responses will receive two contact credits, and negative candidate responses will receive one contact credit.
“Better engagement from candidates means more contacts for employers, and greater value from your subscription.
“But, there will also be a financial benefit. With a platform of active job seekers where employers attain a response rate of 44 percent on average, 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 they currently have.
“Indeed Resume will remain free for job seekers who want to create or upload their resumes,” it added. “And as always, employers will list jobs for free on Indeed; and most of the hires that come from Indeed will continue to be free of charge.” (So, the model will differentiate between active and passive recruiting – the one will remain free, while the other will be charged – editor.)
Indeed.com, owned by Japan’s staffing giant Recruit Holdings (TSE: 6098), recorded a 68 percent y-on-y jump in its revenue to ¥99.1 billion ($800 million U.S.) in H1 of FY2017/18 (Apr. 1 to Sept. 30).
Indeed is increasingly becoming a full-service recruitment site. Available in more than 60 countries, Indeed.com attracts the biggest audience of all the job sites, namely 414 million visits in November, compared to Monster’s 29 million, Seek’s 20 million and CareerBuilder’s 20 million. All numbers for visits as measured by SimilarWeb.com.