Many people delay purchasing recruiting software because they believe it’s too expensive. They picture corporations when they think of recruiting software and think their own needs and budgets don’t mesh. But this is a very wrong conclusion that could be costing you a lot of time, money, and productivity. Don’t keep missing out.
Recruiting Software Pricing Is Not Too Expensive
Recruiting Software Is Not Just for Corporations
Recruiting software is not just for corporations and large companies. Vendors make recruiting software specifically to meet the needs of small businesses, including their budgets.
What Is Recruiting Software?
Before you can buy it, you first have to grasp what recruiting software is. There are actually several kinds to choose from with very different advantages.
Recruiting software is any software intended to address a business’ hiring needs. It usually either automates mindless functions, optimizes tasks, or provides a combination of the two.
Different Types of Recruiting Software
Social media aggregators search social media platforms for potential candidates based on criteria you set. It’ll look for candidates in certain locations, working in appropriate fields, and with particular levels of education, for instance. This saves you tremendous sourcing time and costs. You just open the aggregator and have a list to go through.
Resume spiders are like social media aggregators except they search many places online for candidate resumes. Both help you find active and passive candidates to choose from who have not thought to apply to your job, or if they’re passive are not actively looking.
Applicant Tracking Systems, or ATMs, optimize the collection of resumes by automatically posting job openings, offering a career portal, automatically uploading and parsing resumes, and matching resumes to the right jobs and managers.
Candidate Relationship Management Systems, or CRMS, store and optimize the management of resumes. They provide advanced searching and matching parameters and can remind you of past candidates for new jobs so you can utilize qualified candidates you already have rather than having to source more. They’ll usually offer advanced workflow options too.
Resume formatting tools automatically format resumes to match designated templates. Many recruiters format resumes to streamline them for easier reading, to foster blind hiring, and to limit hiring managers’ ability to usurp their role. This software saves time by doing this automatically.
Interviewing software helps business owners schedule and organize the interview process, and even hold video interviews. This is important because interviewing is a common area where hiring managers make their hiring process inefficient.
ATSs and CRMs are the most popular kinds of recruiting software and what people usually mean when using the term. Give them particular attention when researching recruiting software, unless your main hiring goals fall only the category of one of the more specific types of software, like a social media aggregator or interviewing software. For instance, if everything else is going pretty well, but you want to optimize your interviews, just get interview software, for the time being. You could well need another type in the future, particularly for a growing small business.
Pricing Options for Recruiting Software
Vendors offer recruiting software for small businesses at prices that are tailored to their unique budgeting needs. Small businesses need more reasonable prices and flexible payment options, and vendors deliver.
The average cost of small business recruiting software, considering all types, is $45 per month. That’s not scary.
You can also find $10 a month pricing deals and even free deals, depending on your needs.
As an example, we’ll tell you what we, Recruiteze, offer.
We have a free applicant tracking system package for those:
- who will only have one person using the software
- will not be handling more than 500 resumes a month
- do not need a careers page, candidate workflow, online job applications, or bulk resume uploading
This is great for a very small business who just wants to store their candidates in an easily readable format, search their candidates, make notes on candidates for future reference where they’ll be easily found for review or interviews, and have reporting and analytics for your hiring process.
We also have a $9.95 per month plan for those:
- need all the features we can offer
- will only have one user
- need unlimited applicant support
- do not need more than 1 GB of storage
This is perfect for small businesses who have only one person hiring and want to utilize our full suite of features, including the game-changing careers page, candidate workflow, and online job applications functions.
Our $39.95 per month plan is for those:
- need all the features the other plans offer
- want up to five people to use the software
- need up to 5 GB of storage per user
When you have multiple people with hiring duties and/or need 5 GB of storage, this plan is for you.
Online Resume Formatting Sytem
Our resume formatting tool also has a free option for those:
- who want to format only three resumes a month
- will only have one person using the tool
- do not need to create their own custom template
- do not need more than two standard templates
This is great for those wanting to dip their toes in the resume formatting world or who only want to occasionally format a resume.
The $29.95 plan is for those:
- who handle less than 50 resumes a month
- need three people to use the software
- need custom templates
- need an unlimited amount of templates
- you can add on more resumes and more users for a fee
There is also:
- a $112.95 per month plan for those handling around 250 resumes in a month who need around ten users
- a $211.95 per month plan handling around 500 resumes in a month and need around 20 users
- a customized enterprise option
These options let you pick the right price for your business’ needs.
When selecting recruiting software, it is important to consider the features to ensure they have the ones you must have and that you aren’t having to pay for more features than you need.
Pricing Considerations for Recruiting Software
Avoid recruiting software that requires a contract. You don’t want to get locked into a certain plan, certain price, or a particular vendor if you don’t have to. And be aware that you definitely don’t have to.
Vendors like Recruiteze offer monthly plans with the option to upgrade, downgrade, and cancel at any time.
This is particularly important for small businesses as their needs may increase or wane frequently and they have a particular need to keep a flexible budget.
Return on Investment
It’s tempting to think about only the cost, to see the dollar signs and think of what is being spent. But recruiting software is an investment, one that will pay back far more than it costs.
Consider what you are currently spending on hiring. This is a bit complicated because there are so many hiring costs that are not obvious.
You or your hiring manager have to spend time sourcing, attracting, selecting, interviewing, and onboarding candidates. This is valuable time that needs to be spent efficiently so you can strategically hire and have time and energy to spend bettering the business as a whole.
You also have to spend money paying a hiring manager, paying for job ads, and training the candidate, at least. There could well be many more costs like recruitment fees or paying for interviewee transportation.
And what about retention? How long will the candidate work for you? If you haven’t made a good match, which is much more likely when you’re rushed and tired from inefficient hiring processes, the candidate may stay a few days or weeks or may not last the year. You could easily not make profit from the investment you made hiring the employee and have to spend more money to hire another one. That hurts!
If your hiring process takes a long time, and most of them do these days, your open position is costing you in productivity. Your crew is working harder to make up for a missing employee or your business simply can’t perform as well because a necessary team member is missing.
With recruiting software you can save money and make more money by:
- speeding up your hiring process
- saving time to spend on business planning
- saving time and headache so you can focus on better hiring
- attracting more and better candidates
- making a better candidate selection
- retaining more candidates
- having more productive candidates
- enjoying a better business because you could focus more attention on the right things
Recruiting software is not a cost, is it an investment that will save so much time, energy, and money. Your business will be more productive and you’ll have achieved it with a more efficient hiring process. And it really doesn’t cost that much anyway. You can get free, $10, or $30 and $40 recruiting software plans, so there are options for almost any business. Just make sure you get one that doesn’t tie you into a contract so you can upgrade, downgrade, and change recruiting software as your needs demand.