New Research from PandoLogic Finds Pay Scale Transparency and Remote Work Options Lower Cost of Hiring by as Much as 5X

·4 min read
PandoLogic
PandoLogic

Quarterly Voice of the Candidate Study Explores Recruiting Experience from the Job Seeker’s Point of View in Q1 2022

DENVER and NEW YORK, Aug. 16, 2022 (GLOBE NEWSWIRE) -- PandoLogic, a wholly owned subsidiary of Veritone, Inc. (NASDAQ: VERI) and leading provider of artificial intelligence (AI) hiring solutions, today shared the findings of its latest Voice of the Candidate (VOC) Study. With the publication, PandoLogic revisits data from previously available VOC research and reveals the new conversations that emerged in Q1 2022.

Given the rapidly changing state of the job market over the last year, the Q1 2022 results are telling. As the Great Resignation persists even in the face of a possible economic recession, the VOC noted a rise in candidate passion and intensity, with candidates seeing themselves as empowered. Three of the five major trends captured in the VOC directly relate to how employers position openings to job seekers.

First, pay remains a significant driver and jobs with pay information in the title performed much better than those without. In addition, jobs without pay information cost 1.6 times as much per application as those with pay information. Likewise, the remote work conversation continues to increase. Similar to pay, jobs that include remote in the title convert 57 percent better, with a cost per application that is on average 5.5 times lower than those without remote listed. Finally, benefits have become increasingly important, specifically healthcare and health insurance, giving employers the opportunity to increase focus on information in job descriptions and advertising materials.

Taking a unique approach to this subject matter, PandoLogic creates the quarterly VOC in partnership with Parsons Strategic Consulting to obtain a deeper understanding of the candidate experience from the job seeker’s perspective. Using social listening technology, the VOC examines millions of public conversations about the recruiting process and then analyzes the top-mentioned emotions and sentiments.

Terry Baker, president and CEO of PandoLogic, shared, “Since we first launched the Voice of the Candidate research in 2021, PandoLogic has analyzed what candidates think about the recruiting process. The latest insights are especially telling as we’re in one of the most dynamic job markets in recent history. What employers don’t know about candidate expectations may be hurting their hiring outcomes. An effective way to improve recruiting results is to tune in to what the candidates are saying, and PandoLogic is in the unique position to provide this type of insight, given its technology and business model. It is also one reason PandoLogic has successfully driven optimized job advertising results for our clients.”

Download the Voice of the Candidate Study Q1 2022 here.

About PandoLogic

PandoLogic is the leading recruitment marketing and conversational AI platform in North America. Serving the world’s most recognizable brands, PandoLogic utilizes advanced AI technology to transform the future of recruiting. PandoLogic’s flagship product, pandoIQ, is an AI-enabled talent acquisition platform that empowers employers to reach the right candidates on the right sites for the right price. Making more than 7,000 micro-decisions per minute, pandoIQ automates and optimizes the complexities of job placements at scale and precision levels previously unattainable.

PandoLogic is a wholly owned subsidiary of Veritone, Inc. (NASDAQ: VERI), a leader in enterprise artificial intelligence. To learn more, visit PandoLogic.com.

About Veritone

Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) software and solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications accelerate and maximize digital migration, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s hyper-expansive Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. Through professional and managed services, as well as its robust partner ecosystem, Veritone develops and builds AI solutions that solve the problems of today and tomorrow.

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CONTACT: Note to editors: Trademarks and registered trademarks referenced herein remain the property of their respective owners. Media Contacts: Kate Achille The Devon Group for PandoLogic, a Veritone subsidiary kate@devonpr.com Veritone Contact: Lora Metzner Global Results Communications for Veritone veritone@globalresultspr.com   Investors Contact: Brian Alger, CFA SVP, Corporate Development & Investor Relations, Veritone investors@veritone.com