Recruitment software has slowly become an indispensable tool for talent acquisition professionals. It assists in achieving recruitment goals and turns daily problems into opportunities. Want to learn more about it? Please keep reading to find out why recruitment software is a good investment.
It is typical to see recruiters wander through countless resumes to hunt the top talent for their firm. It is common to see them struggling when retaining all the CVs and profiles. Apparently, the hectic process consumes hours, decreases productivity, and leads to bad hires. Unsurprisingly, about 65% of hiring managers believe their job has become more stressful due to these repeated processes.
Imagine how it would be if you could post hundreds of jobs and offer letters with a single click and stay in the loop with every candidate that applies. Lucky for you, that is precisely what recruitment software does! Over 98% of Fortune 500 companies utilize recruitment software. Given the numbers, there has to be something that makes it a better alternative than the traditional strategies, yes?
So what are the primary reasons to invest in recruitment software? Now that is a broad question. Let’s slice the pie into smaller pieces by learning its significant features. This article will list some itinerary characteristics of online recruitment management and how it can help you flourish.
Top 9 Reasons to Invest in Recruitment Software
Crafting an impeccable recruitment plan is perplexing. You need to incorporate the culture of the company and employer branding into the hiring process while making the process simple and quick. Moreover, ambiguous or incorrect information about the company or a job position can confuse applicants and cost you much more than you think.
That is where recruitment software comes in as a perfect solution. It is an online platform that handles and manages any or all stages involved in hiring. More than 94% of recruiters claim recruitment software has positively impacted their recruiting strategy. Nearly everyone can relish its perks, whether a start-up, a small business, or a large organization
Here are a few reasons that will help you understand why investing in recruitment software is an ideal choice:
#Reason 1: Transparent Hiring
Transparency initiates the candidate-employer relationships with a good start. It improves the hiring experience down the line for you and candidates alike. Recruitment software helps in executing a clear and precise hiring process. For example, candidates can see their application status on the portal.
#Reason 2: Centralizes the data
Centralization is the key to successful hiring. It breeds efficiency. You can stop filtering through chunks of folders and papers searching for a particular profile. Recruitment software allows you to keep and retain all the details, from resumes to applications, at a single location. You need not skim and jump between multiple tabs to get the desired information.
It can also optimize the efficiency of job advertisements and recommend channels based on job requirements. All you have to do is drag and drop to add the information on the portal.
#Reason 3: Cost and Time Effective
Hiring a new candidate accompanies multiple tedious tasks, such as screening resumes, filling out paperwork and forms, and emailing employees. All these tasks take up a lot of time. Moreover, did you know that the average length of a hiring process is 42 days? Yes, You heard it right!
Recruitment software effectively cuts down the time and cost of hiring employees. You only incur the cost of installing it in your business.
Almost 86% of recruiting professionals agree that recruitment software has aided faster hiring. It eliminates the irrelevant and time-taking steps to speed up the process. Further, you can enable applicants to upload their CVs themselves without hassle. Thus you can move across your hiring landscape without wasting time and energy.
#Reason 4: Accelerates Productivity
The traditional hiring process confines you to work from an office where you rely on paperwork. Recruitment software is incredibly intuitive and user-friendly. You can quickly access the data and expedite the burden of document storage and manual entry.
Further, you can spend and prioritize core activities and handle challenging projects by automating mundane hiring tasks using the software.
About 68% of recruiters say investing in new technology is the ideal way to improve hiring performance. The recruitment software also includes cloud technology. It allows you to access the candidate portal on your mobile phone and use it anytime and anywhere.
#Reason 5: Simplifies Recruitment Process
The recruitment process can be complicated and tiresome with job openings, posts, applicants evaluation, phone interviews, etc. Besides assessing forms and scheduling interviews, remembering the candidates’ names, skills, experience, etc., can be hard to memorize for a recruiter. Thus you can store all this information on your computer, but it can get messy, and when things get messy, you unknowingly hand the top talent to your competitors.
Moreover, keeping up with the long process is arduous. Fortunately, recruitment software addresses the issues and accelerates the process for efficient hiring.
It puts everything at your fingertips, from candidate profiles to shortlisting, and lays them in front of you on the same page. For instance, you can post a job vacancy on different channels with a simple click. It also furnishes a shared calendar which you can use to schedule interviews.
#Reason 6: Enhances Candidate Experience
Job seekers are the ones with the steering control in the present day. Your company is not the only one they have applied for, and yours might not be the only proposal they are considering. Candidate experience matters, regardless of what you think. Around 63% of candidates are likely to reject an offer because of a bad candidate recruitment experience.
Hence, you must set your company apart by furnishing a simple and easy process with a pleasant experience. Recruitment software can help you distinguish yourself from others and provide a seamless candidate experience with multiple features like communication channels and regular updates on the application status.
#Reason 7: Quality of Hire
Biasness and diversity are a couple of hot topics in the hiring process. About 48% of HR managers admit that biases affect their candidate choice. Further, 85% to 97% of managers rely on intuition when selecting candidates. Unfortunately, this “psychological approach” can prevent you from hiring diverse talent in your ranks.
Recruitment software directly influences the suitability of applicants for vacancies. Digitally moving through the applicants allows fairer and equal treatment. It enables quick identification and assessment of potential candidates. The software allows a better understanding of a candidate and furnishes meaningful information that goes beyond their resume or profile. It eliminates unconscious bias and selects candidates on their merit alone.
#Reason 8: Improves Employee Retention
Unfortunately, a wrong hire can cost you around $15,000. In addition, unqualified hires can drop employee morale and productivity by 32% and 37%, respectively.
The cutthroat market presents a “the grass is greener” mentality for candidates. If you don’t have unique and exceptional opportunities for career growth, they will simply turn to the other option. High-quality hiring is thus important when it comes to retention.
Recruitment software improves retention by ensuring you find the right fit for the position. Further, by automating the time-consuming to-dos, you get more time to build programs and resources for employees. It also allows you to streamline the onboarding process and track employees’ performance. It, in turn, improves efficiency and office morale by highlighting the areas of improvement which lead to higher retention rates.
Also Read: 6 Tips How To Avoid Cost Of Bad Hires
#Reason 9: Increases Communication
Nearly 52% of candidates get no response or feedback two-three months after applying. From the applicant’s perspective, this lack of communication or feedback on their resume can be the most frustrating part. It is crucial to have lesser response times with potential candidates when hiring.
Recruiting software automates the response and effectively polishes the communication channels. It keeps you and your prospects informed about the recruitment stage in real time.
Recruitment software allows communication and collaboration to go hand-in-hand. Moreover, the software provides a central dashboard for all stakeholders. You can easily collaborate with your team and stay on track with each task using a single system. Further, the software lets you and the applicants stay updated about every process stage.
Final Thoughts
It should no longer be a question of whether you leverage recruitment software. Time has changed, and so has the technology and way of working. Techniques have been through a sea change, and everyone wants an efficient and automated process to save time and effort while increasing productivity.
Recruitment software can easily streamline and unwind many facets of the hiring process. It is easy to understand if you may be hesitant to change when the traditional recruitment process has always been sufficient. However, there is a huge gap between plain good and good enough.
If your company is not already taking advantage of this technology, it is certainly worth considering to ensure you catch the top talents. With so many positives and potential to boost and grow your business, incorporating the new technology will undoubtedly be a favourable choice. It will indeed be a wise investment with easy returns!
