10 benefits of talent marketplaces over job board templatesoftware
Modern talent marketplace software is becoming increasingly popular amongst small to medium-sized businesses (SMBs) and larger organisations to efficiently connect talent to opportunities. These platforms enable businesses of all sizes to streamline the hiring process, from sourcing candidates to making hires. Traditional job board templates, on the other hand, are commonly used to aggregate third-party job listings for a particular industry sector.
Here’s a comparison of the benefits of talent marketplace software, using Spacewalk as an example, against traditional job board software providers.
1. Quick set up
Traditional job board software: Typically requires lead times to set up and customise, involving complexities that require technical expertise and sometimes coding to implement all features.
Talent marketplace software: Easy-to-use no-code platforms like Spacewalk enable users to create, customise, and launch their marketplace within minutes, significantly reducing setup time and effort.
2. Cost effective
Traditional job board software: Monthly subscription fees for job board software usually start at $100 per month, with a restricted number of team admins. This can be a disadvantage for small businesses with limited budgets.
Talent marketplace software: Offers simple self-service setup with zero setup fees and monthly fees starting as low as $25 per month for a powerful talent marketplace, with unlimited team admins. This makes it more affordable and accessible for SMBs and even larger businesses, without compromise.
3. Super niche talent marketplaces
Traditional job board software: Mainly used to aggregate job listings from third-party sites on a public job board, limiting the use case to industry-based job boards, such as healthcare jobs in the USA.
Talent marketplace software: Provides flexibility for private or public use, supports any type of role, and invites existing talent pools while attracting new ones. This versatility supports various industry-specific roles and private talent marketplaces for specialised needs, such as internal talent marketplaces and private talent marketplaces for tutoring providers, virtual assistant operators, and more. The cost-effectiveness of talent marketplaces enables businesses to start multiple niche talent marketplaces to capture relevant talent pools and employers within that niche, e.g., entry-level speech pathology jobs in Austin, Texas.
4. Variety of powerful use cases
Traditional job board software: Commonly is based on aggregating job listings for public job boards, with users viewing listings and clicking through without creating profiles.
Talent marketplace software: Offers flexibility for multiple use cases, including private access to admin-controlled talent pools, internal hiring, and industry-specific roles. It can cater to diverse needs such as freelance, contract, and full-time positions, enhancing its utility. Additionally, businesses looking for solutions to improve efficiency in connecting their talent pool with with opportunities should consider talent marketplaces and eliminate the need for spreadsheets and manual processes.
5. Flexibility and control
Traditional job board software: Primarily serves as a platform for listing jobs, with limited functionality to actively connect talent pools with relevant opportunities.
Talent marketplace software: Designed to bridge the gap between talent pools and job opportunities. Advanced matching algorithms, access controls, and comprehensive talent profiles ensure that candidates are not just listed but actively matched with roles that suit their skills and experience. Admins can choose to post roles themselves and/or invite third-party employers to post roles on their marketplace too.
6. Smart talent matching
Traditional job board software: More sophisticated job board templates will enable users to subscribe to job alerts, which come periodically and can be quite general.
Talent marketplace software: Talent marketplaces are designed to bridge the gap between talent pools and job opportunities. Its advanced matching algorithms, based on the job seeker's skills and preferences, and comprehensive profiles ensure that candidates are not just listed, but actively paired with roles that suit their skills and experience.
7. Applicant reviews
Traditional job board software: Often relies on email applications and manual review processes, which can be inefficient.
Talent marketplace software: Provides detailed talent profiles and applicant reviews within the platform, streamlining the evaluation process and enhancing decision-making.
8. Managing multiple marketplaces
Traditional job board software: Usually supports a single marketplace, limiting flexibility.
Talent marketplace software: Allows users to manage multiple marketplaces from a single dashboard, enabling simultaneous posting to multiple marketplaces and streamlining operations for businesses with diverse hiring needs.
9. Improved employer branding
Traditional job board software: Provides basic listing functionalities that do not significantly contribute to enhancing employer branding.
Talent marketplace software: Enhances employer branding through seamless candidate experiences, from skills-based talent matching, to applicant review, to viewing all opportunities posted by an employer.
10. Better experience for job seekers
Traditional job board software: Often presents a sea of listings without much personalisation, making it difficult for job seekers to find relevant roles.
Talent marketplace software: Niche talent marketplaces mean job seekers can view the marketplace knowing there will be roles relevant to them. With their completed talent profile, they can receive instant talent match alerts and apply with a single click. This targeted approach makes the job search more efficient and less overwhelming for candidates.
Conclusion
Modern talent marketplace software like Spacewalk offers numerous advantages over traditional job board software. From quick setup and cost-effectiveness to enhanced engagement with talent and operational efficiency, Spacewalk is designed to streamline and optimise the recruitment process for small to medium-sized businesses. By transitioning to a modern talent marketplace, businesses can connect with the right talent more effectively and efficiently, ultimately driving better hiring outcomes.
Ready to transform your recruitment strategy? Get started with Spacewalk today with a free 30-day trial and start your journey towards a smarter, more efficient hiring process.
FAQs
What is job board software used for? Job board software is used to aggregate job listings from various sources and present them on a single platform, allowing job seekers to browse and apply for positions.
What is talent marketplace software used for? Talent marketplace software connects employers with job seekers through advanced matching algorithms, facilitating an efficient and targeted recruitment process
