(Newswire.net — February 21, 2023) — 58% of companies, according to TechJury, are now dependent on HR technologies for their recruitment needs. Why is that? Mostly because 30% of all new hires leave a company within 3 months of being recruited. Each new hire, on average costs a company between 5 to 8 thousand dollars – between onboarding, training, and the recruitment process itself. What’s even more interesting is that in hindsight – on further examination – most companies uncovered most red flags – when it came to candidates – were there, to begin with — on their CVs or during interviews. They just missed them. In this article we’re going to dive deep into one of those HR techs that are meant – if properly leveraged – to give you that extra oomph your efforts demand. To help you out with your recruitment. We’re going to give you the skinny on applicant tracking software solutions.
What is an applicant tracking system?
An applicant tracking system – ATS – is a software application that is designed to help companies manage their recruitment process more efficiently. An ATS allows recruiters and hiring managers to track and manage job applications, resumes, and candidate information throughout the hiring process. It can automate many of the repetitive tasks associated with recruitment, such as posting job openings on job boards and social media, screening resumes, scheduling interviews, and sending automated emails to candidates.
Applicant tracking systems at their core are meant to streamline the recruitment process, making it easier for companies to find and hire the right candidates for open positions. They help to ensure that the recruitment process is more consistent and objective — mitigating biases inherent in human recruiters. Additionally, an ATS can help to improve the candidate experience by providing timely feedback and clear communication throughout the recruitment process
Key Feature of Applicant Tracking system
Let’s look at some of the tools your ATS – Applicant Tracking System – software should have.
Analytics and dashboards
Applicant tracking software should provide analytics and dashboards to give recruiters insight into their whole processes, such as the number of candidates at each stage, time-to-fill, and cost-per-hire. This data can help recruiters identify areas for improvement and optimize their recruitment process.
Video interviewing
Video interviewing capabilities can help recruiters save time and reduce travel costs by allowing them to conduct remote interviews with candidates. Video interviewing can also help to edit out unconscious bias and improve the candidate experience.
CRM – candidate relationship management
A candidate relationship management – CRM – the system can assist recruiters to build relationships with candidates and stay in touch with them over time. This can be particularly useful for recruiters who are building talent pools or looking to fill future positions.
Centralization
An applicant tracking solution should provide a centralized platform for managing all aspects of the recruitment process, from posting job openings to sending offer letters. This can help your HR team to stay organized and avoid the need to switch between different tools or platforms.
Interview tracking
An applicant tracking system should allow your scouting team to track candidate progress through the interview process, including scheduling interviews, providing feedback, and managing candidate follow-up.
Integration with other recruiting tools
An applicant tracking software should be able to integrate with other recruiting tools, such as job boards, social media platforms, and background checks providers. This can help headhunters to expand their reach and improve their recruitment process.
Flexible workflows
This type of dynamic software must provide flexible workflows that can be customized to fit the specific needs of the recruiting team — ensuring that the recruitment process is optimized for the needs of the organization.
Built-in customizable templates
An applicant tracking system has to have built-in customizable templates for job postings, offer letters, and other recruitment materials — this is a key future of an Applicant Tracking System since it ensures consistency across the organization.
DEI survey tools
Applicant tracking systems have to adhere to the best diversity, equity, and inclusion – DEI – practices when it comes to their survey — allowing recruiters to collect data on candidate demographics and monitor progress toward DEI goals.
Benefits of applicant tracking system
Recruiters need applicant tracking software for several reasons. Firstly, managing large volumes of resumes and job applications can be a time-consuming and overwhelming task. An ATS can automate many of the manual tasks involved in recruitment, such as resume screening and candidate communication, freeing up recruiters to focus on more strategic tasks like engaging with candidates and building relationships with hiring managers.
Secondly, an ATS can help streamline the recruitment process, making it more efficient and consistent. By providing a centralized platform for managing all aspects of the recruitment process, an ATS can assist recruiters to track and manage candidate information, scheduling interviews, and collaborating with hiring managers more effectively.
Thirdly, an ATS can provide recruiters the ability to identify the best candidates for open positions more quickly and objectively. By leveraging AI and machine learning algorithms, an applicant tracking system can supercharge recruitment efforts — screening resumes and applications more effectively, identifying top candidates based on relevant qualifications and experience, and eliminating any unconscious biases that may exist in the recruitment process.
Finally, an ATS can help recruiters to give a better candidate experience by providing clear communication and timely feedback throughout the recruitment process. By keeping candidates informed and engaged, an ATS can build positive relationships with potential hires and strengthen the company’s employer brand.