In today’s fast paced HR technology market, any candidate management tool you select should add hours back to your day and smoothly integrates with other technology partners. Unfortunately, still, several organizations are uninformed about the real potential of a good applicant tracking system (or ATS). And, businesses that have already recognized its power are confused on how to invest in right ATS.
Well, the answer is not simple as there are some variables associated with HR software purchase. Apparently, there is no one-size-fits-all solution when it comes to HR software investments.
In this beginner’s mini-guide, we will answer some of the questions concerning why and how to invest in right ATS for greater benefits.
Starting with a quick overview on ATS
Applicant Tracking System or ATS is used to make communications with the potential candidates and streamlining the hiring process for a recruiter. Nevertheless, not all the recruitment software are similar and differ in many features.
Why should you invest in Applicant Tracking System?
If you are a looking for a platform that empowers your HR team to manage recruitment most efficiently right from sourcing candidates to welcoming them on board – then look no further than an applicant tracking system online.
It can help you to:
1. Publish open job positions on your career page or career site
2. Quickly collect and manage job applications
3. Search for resumes based on keywords or using semantic search technology
Note – The up to date ATS comes with more intelligent features and functionalities. For instance, new ATSs are now semantic search technology enabled instead Boolean search that improves search accuracy by understanding the contextual meaning and searcher’s intent.
4. Enable hiring managers and recruiters to categorize candidates and identify qualified applicants.
Now, let’s take a look at some greater benefits that organization can realize after making an investment in a right ATS.
A. Get access to larger talent pool
B. Streamline candidate sourcing, filtering, and tracking
Now, recruiters can easily tag every shortlisted candidate and optimize each stage of the hiring process. ATS enables HR teams to automate their recruitment process – to accept, review, and manage a high volume of job postings and resumes in time efficient manner.
C. Job Postings
No need to log into different job boards and fill the entire job description when you have ATS in place. All you need is to integrate the job boards and social channels like LinkedIn on your ATS. It enables you to post the jobs in selected job boards and social channels in one go – thereby increasing an efficiency of your HR team.
D. Recruitment Analysis
Analysis of recruitment channels is one peculiar feature of an ATS that let recruiter collect and analyze which source is bringing maximum returns on recruitment efforts.
Moreover, the system allows you to evaluate factors like time-to-fill the open job position, cost per hire, performance, retention, and turnover. Based on these metrics HR teams can efficiently and accurately develop future recruitment campaigns.
How to select the Applicant Tracking System?
Selecting the right ATS for your budget and recruiting needs is the hardest part since there are myriad of options available in applicant tracking system market. However, to expedite your search, we have a few pointers.
1. Identify your requirements and users
Before shortlisting HR software vendors, it is important to identify what problems ATS will hopefully solve and who on your workforce will use the software. It is important to compare the current and expected ROI (Return on Investments) before welcoming the system on board. It will give you a better idea whether you are in “actual” need of an ATS or just another add-on HR tool will work for your organization better.
2. Integrations and Customizations
There is no one-size-fits-all in HR software since every organization is different. All HR software vendors provide a standard tool with a scope of customization according to client’s requirements.
So you need to specify what functionalities you anticipate the selected applicant tracking system must have. For instance,
Would like your ATS to create custom forms so you can screen candidates for the open job position or all you want is to post directly to job boards?
Some businesses want ATS just to keep their data organized, while others want it beyond storage and simple tracking.
3. Specify your recruiting methods
There are applicant tracking systems designed based on particular industry or hiring practices. For instance, there are systems developed for healthcare industry or designed to support social media and referral recruiting.
If specifications do not matter to your business goals then consider the standard system. However, if there is an ATS specific to your industry or you would like to improvise on any particular recruitment methods – in that case, such software might be better for you. Visiting Capterra like sites you can easily compare and read applicant tracking system reviews.
Overall, investing in Applicant Tracking System is a smarter but difficult choice with these many options available. It is expensive, and greater ROI is visible in the long run only.
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