Yahoo! has just announced Yahoo! HotJobs Pay Per Candidate, a performance-based online recruitment product that allows recruiters the option to pay for candidates instead of just paying per listing.

The Pay Per Candidate product enables recruiters to cap the number of pre-screened candidates they receive per job posting when candidates apply on the HotJobs website. Recruiters purchase credits for each job posted, but their account is only charged when a candidate applies for the job listing or clicks through to the recruiter’s hiring site. They can also transfer unused credits to other open positions should a job be filled or priorities change.

Recruiters on Hotjobs can now choose from two application methods:

a) Candidate completes the entire job application on the HotJobs site, or

b) Candidate clicks-through to your company’s hiring site

With option (a), recruiters have the ability to pay only for pre-screened candidates. They can pre-screen candidates by creating a customized questionnaire, so they only pay for candidates that pass the questionnaire.

With opti