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The labor market has been unprecedentedly tight since 2021 – finding the right worker has been nearly impossible. However, as 2023 develops, it seems costs may be returning to a, dare I say, normal level.
Outsized recruitment competition caused an increase in key costs: cost-per-click (CPC) and cost-per application (CPA) sky-rocketed in 2021. Simultaneously, apply rates fell as candidates considered a bevy of options.
Then, in 2022, even as the labor market remained imbalanced, recruiting costs eased slightly. CPC and CPA both were on a downward trend throughout the year – though it wasn’t difficult to improve upon the