If your key performance indicators (KPI’s) took a slump in 2014, you should look at investing in the right recruiting software to help improve performance. A recent survey done by Software Advice, an HR & Recruiting Technology Reviewer, explains how software can significantly improve key performance indicators (KPI’s) like, like Cost-Per-Hire, Time-to-Fill, and Quality-of-Hire. In fact, according to the survey, 89% of recruiters said that recruiting technology was either “extremely” or “very” important for performing their jobs well.
With all the positive feedback on recruiting software, why do some recruiters still not use it? The reason is usually because of a limited budget. So if you’re avoiding using recruiting technology because of cost, or maybe considering getting rid of your current recruiting software to save money, you should look at the financial and KPI benefits it provides.
Below are three reasons why using recruiting software is a smart investment for you and your company:
You can hire faster.
While investing in recruiting software can cause reluctance in those who are used to a manual paper process, the benefits of modernizing your process will surely outweigh the costs in terms of speed. According to the same report published by Software Advice, one of the major benefits of recruiting technology is decreasing the amount of time it would take to fill positions – a key performance indicator used by all recruiters and HR professionals (see chart below). By filling positions faster, the company can benefit from the productivity of a larger team, quicker.
Degree to Which Recruiting Technology Improves Key Performance Indicators
(Source: Software Advice recent survey)
You can hire easier.
These days you don’t have to be a technology guru to use recruiting software. Aside from easy installation – especially by cloud-based providers like ApplicantStack – there are features of recruiting software that are designed to make your life much easier. Faster job promotion via job boards and career search sites, mass emailing, easier collaboration between hiring managers, and candidate information management are all things that will streamline your recruiting process and get you more organized. If you’re using a recruiting software and it’s causing you headaches, it’s time to choose another one. Most recruiting software companies like ApplicantStack offer a 30 day free trials so you can get a feel for the system before paying for it.
You can save money.
Let’s face it, most of us are on a budget – especially if you’re a small business. Sadly, companies on a smaller budget feel recruiting software isn’t affordable, or worth the cost – which causes them to stick with their manual process and miss out on the financial benefits technology provides. The hard truth is that a manual process not only costs time, but money and additional resources. The overload of work and inefficiencies of manual recruiting would eventually lead to hiring additional people that would end up costing money in the long run (like additional salaries). The work overload would likely cause key performance indicators to suffer, and could inadvertently affect the quality of staff hired. By using a good recruiting software system, it can enable individuals to manage the recruiting process easier and more efficiently, so you don’t have to hire additional resources. This makes investing in recruiting software an inexpensive alternative, proving you with a good return on investment.
There are many reason why investing in recruiting software is beneficial for you and your company. Consider signing up for free trial to see for yourself how recruiting software can improve your performance and KPI’s for a better 2015.