May 29, 2024 • Blog

Navigating the Future of Job Boards: Key Takeaways from the Job Boards Connect Event

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Last week, the Job Boards Connect event brought together industry leaders and experts to discuss the evolving landscape of the job market.

TravelTime is proud to have been the main sponsor and to have taken home the Best Use of Technology for Job Boards award at the DJAx Awards Ceremony. Read about the other winners and nominees here.

Here are some key themes and takeaways from the event, shedding light on the current trends and future directions of job boards — and how you can get ahead.

TravelTime team being presented the Best Use of Technology - Job Boards awards at DJAx Awards Ceremony
TravelTime team being presented the Best Use of Technology - Job Boards awards at DJAx Awards Ceremony

Big Shifts in the Job Market

The job market is undergoing significant transformations.

The rising prominence of AI, particularly generative AI, a hiring slump, recruiting stagnation, and the phenomenon of ghost jobs are reshaping the employment landscape, as highlighted by Andrea Facchinelli from Jobrapido.

Martin Lenz from Jobiqo further emphasised the impact of economic headwinds, demographic changes, and evolving working trend models. Today, 62% of millennials are open to a new job and by 2025 Gen Z will account for 27% of the workforce.

Andrew Hunter, Co-Founder of Adzuna, also echoed these changes, sharing that the UK hiring market may have had one of the most sluggish starts to the year since the pandemic. Adzuna data shows that vacancies have dropped -18.3% YOY in April.

The big question — how can job boards navigate these changes to stay relevant and continue monetising?

Vacancies data over time via Adzuna
Vacancies data over time via Adzuna

Delivering Quality Applications and Effective Matching

Delivering quality applications and effectively matching job seekers with employers is more crucial than ever. The demand for personalisation is soaring, with job seekers seeking positions that align closely with their skills and career goals. They expect hyper-personalisation in their digital experiences, and the increasing reliance on data-driven insights to enhance match accuracy is becoming a significant factor.

As industry leaders improve their matching capabilities and user experience (UX), it's essential for the rest of the industry to keep pace.

Courtney Ford from Appcast highlights the importance of factors such as search relevancy, commute time data, and pay transparency in this process. Ensuring that job seekers find the most suitable positions and employers receive applications from well-matched candidates hinges on these critical elements.

Hear more from Courtney at our upcoming webinar.

Similarly, Andrew Hunter, Co-Founder of Adzuna, emphasised that "everyone in this room is trying to solve the problem of matching candidates to jobs," highlighting that this pressing issue remains unsolved for many job portals.

However, a significant challenge persists in delivering quality matches, especially when job boards heavily rely on content provided by advertisers and when 'quick apply' options remain extremely popular with candidates.

Fortunately, there are shifts towards more in-depth content from job advertisers, with salary transparency becoming more stable in 2024. According to Adzuna, jobs posted without salaries now account for 50.35% compared to 49.65% with salaries shared.

But when advertisers don’t share critical details such as salary or exact job location, how can job boards ensure their matching processes deliver the best results?

This remains a crucial question for the industry as it strives to meet the evolving expectations of job seekers and employers alike.

The Demand for Innovation in the Job Board Space

Generally, the hunger for innovation in the job board sector is driving significant advancements.

There is no shortage of ideas for how to continue to push the industry forwards, to meet the needs of recruiters, job seekers, and the job boards themselves.

From guerilla marketing techniques demonstrated by Clair Bush to novel approaches to UX explained by Jennifer Johansson of Placed, and a lively conversation on how to harness AI beyond existing NLP and LLM strategies, there is innovation everywhere you look.

By embracing technologies and staying agile, job boards can meet the evolving needs of job seekers and employers, maintaining their relevance and competitive edge in the market.

Morgan Lobb from Vercida underpinned this need for innovation with a clear statement - “People want to get to the end game as soon as possible – and that’s getting a job. It’s our job to help get them there.”

TravelTime — An Innovative Partner

TravelTime is at the forefront of technological innovation in the jobs industry.

Offering unlimited commute time calculations to job boards via our API, TravelTime enhances the quality and relevance of job matches, based on real-world proximity not abstract straight-line distance. It’s a simple switch away from distance that improves discovery and recommendation, search and match, and data visualisation and UI.

At TravelTime, we pride ourselves on staying ahead of industry trends and pioneering technological advancements that actually make a difference to job boards and their users.

Our recent DJAx Award for Best Use of Technology for Job Boards is a testament to our commitment to excellence and innovation. We continuously strive to improve our solutions to meet the evolving needs of the job market.

Join Our Upcoming Webinar

To learn more about innovation in search and match to deliver quality results, and to gain deeper insights into these trends, register for our upcoming webinar with Job Boards Connect, and Appcast.

Job boards connect

Don't miss this opportunity to stay informed and ahead of the curve in the dynamic world of job boards.

Register now. Or chat with our team.

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