For professional membership bodies across the UK, the digital landscape presents exciting opportunities to engage members, provide valuable services, and even generate significant revenue. One often-overlooked tool capable of achieving all three is the humble job board.
While many membership bodies have already established job boards, a recent study by Think Recruitment Solutions reveals a sobering truth: most are underperforming. Despite recognising the potential of job boards as a member benefit and revenue stream, a vast majority (79%) believe they could be doing more. Our research dives into the potential of job boards for UK membership bodies, highlighting common pitfalls and offering practical solutions for unlocking their true value.
Why job boards matter
For members, a well-curated job board is a gateway to career advancement, offering access to relevant opportunities, valuable resources, and insightful content. Employers can benefit from a pre-qualified pool of talent aligned with their industry, making their recruitment efforts more efficient and targeted. Ultimately, a thriving job board strengthens the overall value proposition of membership, fostering engagement and member retention.
The untapped goldmine:
Our research paints a clear picture: while most membership bodies acknowledge the potential of job boards, only a select few are maximising their potential. The study revealed that:
• 31% saw their job board revenue increase in the past year and only 16% saw income reducing.
• 50% of boards price jobs at £300 or less, with some generating over £700 per listing.
• Less than 18% earn over £200,000 annually from their job boards.
These figures underline the vast potential waiting to be unleashed. The good news? It’s not about membership size or board age, but about strategic approaches and targeted efforts.
Common pitfalls and how to avoid them:
Our research also identified several factors hindering growth for many job boards. These include:
• Lack of dedicated resources: Many rely on internal teams juggling multiple responsibilities, neglecting the specific needs of a job board.
• Underdeveloped functionality: Essential features like CV uploads, email alerts, and self-service job postings are often missing, impacting both user experience and revenue potential.
• Over reliance on recruitment agencies: While offering volume, agencies typically generate lower revenue per job compared to direct employers.
• Limited reach and marketing: Many boards suffer from low visibility and fail to attract top employers or a critical mass of job seekers.
Unlocking success:
The path to a thriving job board is paved with clear strategies and dedicated efforts. Here are some key steps:
• Invest in expertise: Consider partnering with companies like Think, who possess the knowledge and experience to optimise your job board for both functionality and revenue generation.
• Target high-value employers: Develop packages and incentives specifically aimed at attracting large companies for high-volume job postings.
• Leverage your unique network: Offer membership partners job-related schemes and partnerships that leverage your valuable member base.
• Embrace technology: Utilise professional job board platforms like Madgex, Jobiqo, or JobBoard.io to offer advanced features and functionalities.
• Focus on member needs: Tailor content and resources to cater to both active and passive job seekers, recruiters, and those seeking career advice.
More than just job listings
Think beyond simply posting jobs. Remember, a successful board is a valuable resource hub. Offer insightful career advice, curate relevant industry news, and connect members with valuable resources like CPD opportunities.
A final word
By understanding the potential of job boards and strategically addressing common pitfalls, UK membership bodies can unlock a wealth of benefits for their members, employers, and ultimately, their own financial sustainability. Think can be your partner in this journey, helping you transform your job board from an underutilised tool to a vibrant hub that fuels your membership’s success.
Remember, with the right approach and dedicated effort, your job board can become a cornerstone of your membership organisation, empowering your members, attracting top talent, and generating valuable revenue, all while strengthening your community in the process.
Feeling inspired? Get in touch with our brilliant new business team today to find out how Think can help supercharge your jobs board offering.
