Recruiting fresh talent is a tough job. However, with processes going digital in every aspect of work and hiring, an applicant tracking system (ATS) is no longer an HR luxury.
What used to be a CV screening system, ATS is now a unified tool with advanced search and screening features, appointment management, onboarding assistance, and a lot more.
Data tells us, in today’s digital age, not using an applicant tracking system will keep you behind the competition, while the ATS market is poised to become a $1.81 billion industry by 2023. No wonder 98% of Fortune 500 companies use ATS.
Reasons to Use an Applicant Tracking System What Recruiters Have been Missing
Applicant tracking systems can help improve recruitment and alleviate some of the most common hiring and talent acquisition issues. Let’s have a brief look at some of the top reasons all successful companies use ATS.
1. Automate Processes
Automation not only makes processes faster but also accurate. It helps remove human errors that can sometimes cost a lot in terms of both effort and resources. For example, a single misjudgment can mean the difference between hiring the best candidate and an average candidate.
Also read: Actionable Ways To Enhance And Polish Your Interview Skills
With automation, the HR department can focus more on tasks that cannot be accomplished with artificial intelligence and analytics. For example, instead of manually screening each resume (some of which would not be worth the time), you let the applicant tracking system take care of it.
2. Lower Expenses, Faster Hires
Hiring a new employee does not come cheap. It might not appear to be any additional cost over regular HR expenses, but slow processes add up to a significant amount. Hiring a single employee costs a company $4,129 on average. When filling more than one position, the cost goes up even more. An ATS helps you cut costs per hire in hiring by speeding up and automating tasks, and time is money! According to a study, 86% of recruiters say that adopting an applicant tracking system (ATS) has helped them employ faster.
3. Long-term Employees
An ATS makes it easier to screen candidates based on their aims and objectives. Manually charting track records to figure out tendencies and interests can be a gruelling job. For an applicant tracking system, it is a matter of seconds.
More importantly, it does the work in bulk. When you hire the right candidate, the chances of employee retention also go up. It is one of the many indirect benefits of using an applicant tracking system.
4. Talent Pool
A talent pool is often undervalued. However, a good talent pool ensures you know whom to reach out to when the need arises. An applicant tracking system helps you build an extensive talent pool without manual effort.
At its core, a talent pool is a massive dataset of potential employees. There are many segregations within it, and you need to filter candidates depending on the demand. With an ATS, this process becomes smooth and fast.
If you do not have a talent pool or don’t put effort into having one, you miss out on many benefits. For any recruiter, managing a talent pool is a top priority. An ATS ensures you stay on track and do not neglect a solid talent pool.
5. Enhanced Brand Image
If your company still uses archaic recruitment methods, your brand image also suffers. It is especially true in the tech industry. If you want to hire people who have expertise in technology, they would not prefer working in a company that does not make the best use of cutting-edge technology.
An ATS makes the hiring process not only efficient but also subtly hints at the fact that you know how to use technology to optimise work. As a result, it will play an indirect yet essential role in attracting skilled candidates who wish to work in a modern, fast-paced setting.
What are Recruiters Losing by Not Using an Applicant Tracking System?
If you are still not convinced about the importance of an ATS, let us tell you what you are losing by staying away from it. You’re losing:
Candidates Who Match your Needs
Not every candidate is a perfect fit for your work. If you are not automating the hiring process, your candidates will always be subject to human biases and prejudices. You take away this element from the hiring process with an ATS. As a result, you get to work with only those candidates who are a genuine fit for your opening.
Reaching More People
The more people you can reach, the higher the chances of finding a good match. With an ATS, you can automate job postings in your choice of portals. It directly translates to reaching more people every time you post an opening.
Efficiency
To put it in a nutshell, you are sacrificing efficiency by not using an applicant tracking system. In a world where every second is valuable, inefficient practices and methods will put you far behind the competition.
Every company tries to optimise its resources and efforts. An applicant tracking system helps you do that with no added hassle.
To learn more tech hiring tips, tricks, and insights, head over to the CodeQuotient blog now. If you want to know how CodeQuotient can help your firm hire the best tech talent, drop us an email at info@codequotient.com today.
