If your recruitment metrics have taken a dive recently, you may want to consider investing in recruiting software like an applicant tracking system. But don’t take our word for it! Independent research has found that technology can significantly improve key performance indicators (KPIs) like cost-per-hire, time-to-fill, and quality of hire. In one survey, 89% of recruiters said that recruiting technology was either “extremely” or “very” important for performing their jobs well.
Reasons Why Companies Don’t Adopt Recruitment Technology
(Source: Software Advice survey)
So what’s the holdup? Why haven’t some companies gotten on board? Don’t let cost be a deterrent. Recruiting software can save you far more money than it costs by lowering your cost-per-hire and time-to-fill, increasing quality of hire, and improving other recruitment metrics. Here are three ways an applicant tracking system can help you hit your recruitment metrics this year.
A good applicant tracking software is easy to learn and intuitive to use. Some companies worry that they will lose time and productivity as they switch from paper to software. But the long-term benefits of modernizing will surely outweigh the costs of any ramp-up time. The aforementioned report found that 95% of recruiters were able to learn the software with minimal difficulty. One of the major benefits of recruiting technology is a decrease in the amount of time it takes to fill positions. By filling positions faster, the company benefits from the productivity of a larger team right away.
Hire More Easily
You don’t have to be a technology guru to use recruiting software. Aside from quick implementation (especially by cloud-based providers), applicant tracking software is designed to make recruiting easy. You can directly post and promote advertisements to multiple job boards and career search sites with a single click. You can set up templates and automatic email triggers. Hiring managers have a place to collaborate, and candidate information is located in a single repository. An applicant tracking system will streamline and organize the recruiting process.
If you’re currently using a recruiting software and it’s causing you headaches, it’s time to choose another one. Most recruiting software companies offer a free trial so you can get a feel for the system before you buy.
Budgeting is critical in business, especially as you’re growing. Some SMBs feel recruiting software isn’t affordable or worth the cost. They stick with a homemade or manual process and miss out on the savings technology offers. The hard truth is that a manual process costs you time, money, and resources. In the long run, you’ll spend more to hire additional staff to take on the work overload and make up for an inefficient process. As your HR department works harder on tasks that could be automated, key recruitment metrics suffer, inadvertently affecting the quality of your new hires. A good recruiting software system enables individuals to streamline the recruiting process, so fewer people are needed to do the work. A recruitment management system is one tool you can use to boost your ROI and your key performance indicators.
Are you having trouble hitting your recruitment metrics? Consider signing up for a free trial of a recruitment management system like ApplicantStack. Not sure how your KPIs look? An applicant tracking software helps with that, too. It automatically tracks and reports your recruiting metrics, so you can see exactly how far you’ve come.