Computers and TechnologyProductsRelationshipsSelf ImprovementSoftwareTech

Improve your recruitment process ROI by utilizing ATS and CRM

When reviewing your recruiting software and tools, you can use the same argument to measure the return on investment. Which demonstrates the financial and timely benefits of implementing a new product or service.

The decision-making process depends on demonstrating and measuring your recruitment software ROI, whether you are looking to reduce dependency on agencies and reduce costs or use technology to centralise processes and harness the power of automation.

It takes a lot of effort to choose the right applicant tracking system (ATS) for your company. This is especially true for large enterprises. The stakeholder team consists of recruiters, hiring managers, talent acquisition leaders, HRIS administrators, procurement, and finance. To determine which talent acquisition system would work for you, you and your team documented your recruiting and hiring process.

As part of your research, you explored all the latest functions and features of an ATS and determined which provider would help your team work more efficiently while attracting the most skilled and savvy job seekers. 

Recruiters’ productivity should increase

Calculating the impact of a more productive recruiting team on the bottom line can demonstrate the value of an ATS. In scaling companies, where talent teams are often asked to accomplish more with fewer resources, sometimes with smaller budgets and teams, this is especially important.

Time savings are often used as a measure of ROI – but for a finance team focused more on revenue, time doesn’t always compute. When you emphasize the real value of time in terms of salary to your C-suite and other decision-makers, you can still make a strong impression.

Advertising and Marketing Costs

Job seekers face steep and fierce competition in this market. Social media has increased the pressure on recruiters to stay in front of candidates.

Companies can save a lot of money on recruitment and advertising by building talent pools with Applicant Tracking Systems. A strong talent pool will also result in the faster filling of positions.

The ATS facilitates recruiters’ ability to share their open positions with social media platforms quickly. Thus, the number of paid job ads decreases and high-quality applications increase.

The ROI of an ATS is excellent over the long term, so it is valuable to invest in one. A year after implementation, the ATS will quickly pay for itself.

Fastens the hiring process and streamlines communication

Your recruiters can streamline candidate pipelines using the right ATS. An ATS needs to be flexible and allow you to move forward without having to enter fake data.

In the same way, you should be able to skip a step if you make a mistake. In addition to automating communication steps, the right applicant tracking system can make the difference between an engaged candidate and one who quickly loses interest and drops off. A slow hiring process frustrates candidates more than anything else, so if you and your client don’t move quickly, you may lose out on top talent. Maintaining constant contact with candidates is possible using an applicant tracking system. If your hiring process is faster, you will be able to match companies seeking candidates with highly qualified, highly interested candidates.

Increasing the quality of hires

If you evaluate recruiting software solely on the basis of its features, you could increase your placements while sacrificing quality. ATSs can help you hire more qualified candidates.

Performance recruiting is known as this concept. Performance recruiting does not hire candidates based on their current skills and then moulds them to fit a particular role.

Identify the qualities of the people on your team who currently make great widgets if you wish to hire someone who can develop them. Then, map them to candidates in your pipeline to develop a ranked list of those qualities.

In order for recruiting software to support performance recruiting, hiring stakeholders should be able to collaborate and provide feedback easily. It can also automate personality assessments and skills assessments to better determine a candidate’s suitability for a particular role.

An effective candidate experience yields what kind of ROI?

Your retention rate will increase, you will save money, and your profits will rise if you provide a good candidate experience.

An excellent candidate experience, in the long run, can improve return on investment (ROI) with each hire.

What is the relationship between quality of hire and ROI improvement? The bottom line is that organizations with happy employees are more profitable.

Are You Ready to Improve Hiring with Technology?

All companies would benefit from spending more time developing a successful plan and strategy for recruiting and hiring in the upcoming period. It has become increasingly important to reduce the amount of time spent on organizing, sorting, and other administrative tasks and to let technology assist you with those tasks while allowing you the freedom to strategize. 

Try our demo ats and experience all of the perks of modern hiring! If you believe that implementing an ATS can help your company save money and grow faster by making your HR department more productive, request our free trial!

Increase the return on your talent management investment

The success of your organization depends on having a solid talent management strategy. Your corporate culture, current processes, and goals for improvement must be considered when implementing your strategy. An ideal place to begin is with the hiring process. Since it is the very beginning of the employee lifecycle journey and has a significant impact on the employee experience. Developing an efficient hiring process to help you attract and hire high-quality candidates is possible with the right partners and resources. 

The background screening company you choose not only helps you keep the hiring process moving quickly, but also helps you manage to hire risks and remain compliant with changing laws. Take advantage of our interactive assessment tool to discover your opportunities to improve your background screening and hiring process.

What should I consider when choosing an ATS?

As many ATS differ in their features and strengths, there is no such thing as a standard ATS. To find the right system for your organization, you need to make a list of your biggest challenges and identify the best system to address each of them. The challenges could include scheduling interviews, managing offers, managing job posts, sourcing candidates, etc.

Understanding your organization’s exact requirements is essential to selecting the right system.

Decisions based on data

In recruiting, intuition has long been considered essential. This is still the case today. There is some luck involved in the equation, but have strong feelings about a candidate certainly pays off. AI, on the other hand, makes decisions purely based on data rather than intuition, giving humans a lot more information to consider.

Analytics can be used to track, measure, and evaluate candidate data and hiring decisions. Artificial intelligence can also identify potential barriers to hiring.

You and your competitors have different recruitment ROI formulas. Your AI recruitment tool can increase candidate quality, expand your application pool, and make superior talent decisions.

 

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button