Companies use Applicant Tracking Systems (ATS), also known as Talent Acquisition Suite to process job applicants and to manage the end to end hiring process. The Applicant Tracking System provide an automated way for companies to manage the end to end recruiting process.
The information gathered in the ATS DB is used for screening the candidates, applicant assessment, scheduling interviews, scoring and evaluation, background check, and onboarding new-hire employees.
Applicant Tracking System modus operandi
When candidates apply for a job through various channels, their contact information, professional experience, educational details and CV are uploaded into the ATS. The hiring workflow process then kicks in and the candidate passes through various steps in the overall assessment / evaluation.
Among various other features, a Recruitment Management System does (helps in accomplishing) these tasks
- Create Job Description
- Marketing the Job
- Structured Interviews and Define KPIs
- Define Recruitment Process SLAa and KPIs
- Auto Create Candidate from multiple Channels
- Do CV to JD matching and give a score / auto candidate rating
- Semi-Automated Screening / Shortlisting Candidates
- Interview Scheduling
- Feedback Review and Rating
- Data driven decision for offer
- Alerts for tasks like communication with Candidates
- Onboarding the Employees and HRIS Integration
Benefits of using Applicant Tracking System
An Applicant Tracking System has become an essential requirement for a fast growing organizations as it reduces the time and cost of hiring, automates manual tasks and hence reduces errors, ensures all applicants get evaluated, eliminate bias and ensures Diversity and Inclusion, streamlining the process and track against SLAs and KPIs, improved candidate experience. Following are the advantages of using an Applicant Tracking System or a Talent Acquisition Suite.
- Better job description creation with collaboration and improved marketing leveraging the power of social media
- Automated application logging in single database from multiple channel with all sourcing channel information ensure less human error and identify sourcing channel effectiveness
- Applicant ranking through CV and JD matching helps in significantly reducing the task of initial screening
- Standard evaluation process and Data driven decision making to help in getting the right hire
- Advanced analytics & monitoring recruitment KPIs against industry average ensures continuous improvement of the recruitment process
- Standardization of recruitment process ensures better candidate experience, effective utilization of recruitment resources and builds a permanent process related IP within the organization
Key Facts related to Applicant Tracking System / Talent Acquisition Suite
When a company starts using an Applicant Tracking System or any Talent Acquisition Suite, they realize significant improvement in hiring process efficiency
- Due to high number of Applicants, almost 80% of large organizations use systems for automated CV screening, matching and scoring
- A major chunk of Applicants prefer to apply through Career Page
- ATS filters the qualified applicant to 25% of the original applicants
- A company can reach out to 50 candidates through 1 employee using referral
- Companies receive an average of 250 applications for a single job opening
- Irregular updates is a major cause of poor candidate experience
- Almost all candidates prefer easy application, preferably through their mobile phone using a few clicks
- Almost 3 out of every 5 mid-sized companies use an ATS
- Average hiring process cost is USD 3,500 which can be reduced significantly
- Companies like Google receive up to 75,000 applications per week which cannot be scanned manually
All large organizations use a Talent Acquisition Suite or a Recruitment Management System because they understand that recruitment cannot be managed with efficiency without that. The reason why SMBs have not been using an Applicant Tracking System is because of the significant upfront cost of hardware and software. With new cloud based Applicant Tracking System even Small and Mid-sized Businesses can leverage the benefits and power of enterprise class Talent Acquisition Suite offered as SaaS.