Factors that can contribute to your ROI
One of our top goals at PhysEmp is to provide recruiters and hospitals with qualified physicians who are seeking jobs. But how much responsibility can a job board bear for a client’s rate of placements?
Most of our clients make successful placements based on our leads, year after year, renewing with us consistently. But occasionally a client says, “We didn’t make enough placements based on your data. We are considering terminating.”
First, it’s worth noting that hospitals and recruitment firms may approach success differently. Hospitals are looking for the perfect fit for their opportunity. Recruitment firms may be interested not only in the right person for a job, but because they often host additional opportunities, they may be working to find other qualified candidates as well.
At times, ad performance stats may be looking up – ads are being seen – and yet placements aren’t happening. So where’s the disconnect?
For a good ROI, you need good ads
Ad quality absolutely can affect ROI. We work to put your ads in front of qualified physicians who may be interested in those jobs and locations. But as much as we are 110% invested in your success, we can’t be held accountable for closing deals.
To assess our performance in a fair way (rather than purely through the lens of ROI with its many, often complex contributing factors), consider how many qualified candidates you’ve been receiving. Are they actually looking for employment? Do they have the necessary training or licensing requirements for the posted position?
That is the info we provide, the true measures of our service.
Other factors that can affect ROI often come from without, due to the ebb and flow of the market.
External factors affecting ROI
A number of recruitment firms have recently indicated that placements have been slightly down in 2022. Are the ads not working? Not necessarily. There are several potential reasons that ROI may appear to be down (specifically for recruitment firms) this year:
- A shortage of healthcare workers due to burnout. Covid-19 has taken a heavy toll on many in the industry. Around 20% of healthcare workers quit their jobs during the pandemic, while another one-third say they are thinking about it, according to recent research published in JAMA.
- Aging Baby Boomers retiring. Older physicians are increasingly opting out to retire early or are scaling back on work due to the changes brought about by Covid-19 and other factors. Nearly 22% of all physicians thought about retiring last year.
- The Great Resignation. This mass exodus by even younger doctors is affecting the numbers of available professionals seeking work.
- Some hospitals are doing more of their own recruiting. Recent data indicates that the last two years have created a swing in the direction of more hospital involvement, which may be altering the market for recruiting firms.
How to elevate ROI and get the most out of advertising with PhysEmp
Above all, we urge you to optimize your ads. It’s not hard to do. This will lower your costs and elevate your ROI. Follow these relatively simple, but easy to overlook, steps:
- Be sure ads contain the essential info. The sweet spot for ad length is 200-450 words.
- Keep ads clear, fresh, and well-written
- Be certain ads are not old (60 days is old)
- Change the copy every so often, which keeps ads from dropping down in the rankings
- Check your Score Card and ad performance reports for important information to aid in course correcting
- For recruiting firms, please don’t post “blind” ads. Always include city and zip code.
Reach out to our team
PhysEmp has been in this business for 30 years, evolving our services right along with the marketplace to best serve our clients. Our goal, like yours, is to increase your success and reduce your costs. When you win, we win. Please don’t hesitate to contact our customer support team for answers to your questions.
Want to post jobs now? Click here.