Yahoo issued a press release today announcing the launch of a new search ranking algorithm to be used with their HotJobs service. They’ve named the new algorithm REAL, which stands for Relevance, Engagement, Availability, and Location:
R – Relevance: Matching text in job titles and descriptions to the keywords candidates use
E – Engagement: Measuring how well candidates respond to the job listing
A – Availability: Determining that the positions displayed are still unfilled
L – Location: Showing jobs in a location of interest to the candidate
The new ranking system is designed to be a part of an overall strategic initiative to “make the recruiting process more efficient using Yahoo technology and to provide recruiters with unique insights into job seeker behavior.” Furthermore, REAL is able to leverage Yahoo’s behavioral targeting and search optimization strengths to rank listings based on user engagement.
According to Yahoo, since the launch of REAL, “applies” per job listing have increased by 25%, which is a key success metric for recruiters.
Yahoo also has a consortium of newspaper partners that use HotJobs, who will also benefit from the change. Yahoo’s newspaper consortium reaches 30% of all daily U.S. newspapers.