How do job search portals make money?
Ever wondered how the job search portals make money? How do they earn huge profits even after spending lakhs of money over huge advertisement? Is it because of their pay per click advertisements or because of their exceptional email marketing?
But first, what is a job search portal?
A job search portal is an online career portal which connects employers and applicants who are looking for a job. It offers a variety of job fields and acts as an intermediary and helps the applicants find a job which is the most suitable for them. They make money by matching the right people to the right job. These are some of the ways these portals make money:
Whenever there is a new position vacant in a company, these companies contact the job portals. These job portals advertise the job opening on their homepage where they get a huge number of visitor views. They are divided under various categories – Ranging from the number of days to the number of jobs available on those locations to the city.
A global job can also be posted on these websites attracting people from all around the world. In this way, the job portals make a huge amount of money from the company depending upon each factor.
2. Selling of database
A job portal has information about the job seekers’ profile, resume, and contact, which they can easily sell to the companies to earn money. Also, it can give details about the vacant job positions in the company to the job seekers and charge them. It is the most common and simple way of earning money.
3. Email Newsletters
The job portals have an email database of all the candidates seeking a job. Thus, if a company wants to fill in the job vacancy it contacts these job portals and asks them for the email address in exchange of money. This process is however not always beneficial from the viewpoint of the company because it is very difficult to find the perfect candidate amidst the huge audience.
4. Premium Content
Job portals can make money by charging a basic amount of fees from both the candidate and recruiter who is registering on the website. Services on the portal are usually not free. Sometimes these portals charge the employer on the basis of every candidate they interview. Also, sometimes it happens that the job portals charge an extra fee for reputed and big companies from the candidates.
5. Affiliate Marketing strategies
Sometimes to earn money the job portals try to adopt the affiliate marketing strategies. After a candidate has posted his details on the website as to his field of interest, qualification, city preferred and past job experiences. Every time the job acts as an affiliate between the recruiter and the applicant, it charges commission.
There are various job portals which are available online such as Monster.com, Naukri.com, CareerBuilder. They attract two types of customers- recruiter and job seeker by huge advertisements and publicity. These portals make money mostly from the employers by just having a database about the applicants. There are many job portals most of them are Public Limited making huge money and success and investing back into many new projects.
Well, considering the kind of employment it is providing to job-seekers, none of us mind if they earn their share in the process!