Large enterprises and recruitment firms require an applicant tracking system to manage the large volume of applicants and resumes. But what are the benefits of an applicant tracking system for small business owners, who have more modest recruitment needs?
The reality is, whether you’re a huge corporation or a small business owner, recruiting good applicants costs time and money – an average of $4,129 per new hire, according to the Society for Human Resource Management. An applicant tracking system offers small business benefits you might not have considered. Here are just a few of them.
1. Online Job Boards and Applications
Instead of individually posting to the dozens of job boards available online, an applicant tracking system consolidates your job listing and sends it out automatically. Simply type in the information – once – and the system sends it out to the relevant online job boards.
Potential new hires can then actually find these job openings and apply for them online, or even from their phones. (Mobile recruiting is essential these days – 43% of people use their phones to look up job information, and 18% apply via phone.) When 60% of applicants are giving up on the process because its too time-consuming, efficiency ensures your small business isn’t missing out on those qualified applicants.
2. Screening Questions
When you’re reviewing resumes, you’re going to choose quality over quantity every time. No one wants to waste time going through dozens of unqualified applicants. An applicant tracking system allows you to add screening questions to your application to ensure applicants meet basic qualifications like education level or years of experience. Some applicant tracking systems let you create scoring rules that weigh certain questions more heavily, so better applicants automatically rise in your review queue.
3. Central Resume and Data Repository
Maybe there’s a candidate who’s a great fit, but you don’t have an open position for that skills set. An applicant tracking system stores resumes for anybody who has applied to your company in a single database. Notes, assessments, emails, and other data are attached to each applicant record, so you can quickly evaluate a candidate if a new position opens up. The applicant tracking system turns a haphazard jumble of emails and spreadsheets into an organizational asset accessible to any authorized individual in your company.
4. First Impressions
During the recruitment process, your goal is to attract top people to your company. You aren’t just recruiting; you’re marketing. Shockingly, 69% of unemployed people wouldn’t take a job if the company had a bad reputation – they would rather stay unemployed! Applicant tracking systems help you put your best foot forward. Automate communication with candidates, so no one falls through the cracks. Get your job listed on prestigious job boards across the internet. Brand your application portal so it’s unique to your company. This is how you communicate a professional image of your company to job seekers.
Companies using optimized talent acquisition strategies like an applicant tracking system reap the rewards. New-hire turnover is 40% less on average, and they can fill vacancies 20% more quickly. Can your business afford an applicant tracking system? When 94% of companies who have utilized a recruiting software report that it’s improved the hiring process, you can’t afford not to. This investment in your HR recruiting strategy will have big-time benefits for your small business. Get started with a free trial of ApplicantStack, the top applicant tracking system for small business applications.