The advent of hundreds of start-ups, new technology, and a new generation of workers has completely changed recruiting. Dynamics of talent acquisition are changing with ATS becoming the need of the hour for improving the recruitment metrics.
John Pierce, Head of Business Development at Cetera and a prominent Forbes Councils Member, explains in his post that the modern-day Applicant tracking System strikes a balance between human touch and technology. The present-day talent acquisition software offers comprehensive HR solutions to the hiring endeavors by helping recruiters to track the recruiting game.
The dynamics of recruiting have changed drastically. Gone are the days when candidates explore print media or job boards when searching for a job. The market has turned from employer centric to candidate-centric. All the underlying recruitment processes, such as job description, contacting candidates, and interviewing them, has gone digital.
Cost of Bad Hire
A recent survey shows that the average cost-to-hire in the US is more than $4000. If a person leaves or does not join the company, the turnover cost to replace him is estimated to be around one-third of the new employee’s annual salary. Financial loss is one aspect of poor hiring; the list goes beyond that.
A high turnover rate also impacts the emotional quotient of the employees. It not only demotivates the recruiters but eventually slows down the production, increases the workload and disruption in the department due to a vacant position. The turnover rate ultimately impacts the company’s bottom line, leading to a loss of sales, customer, and revenue.
Various factors lead to high turnover rates such as dissatisfaction, the limited scope of opportunities, low salary, monotonous job profile, etc. Poor hiring is a prime reason for the high turnover rate, as stated by Harvard Business Review.
How to Ensure a High Performing Recruiting Strategy?
- Begin with a Talent Pool
The recruiters should keep looking for talented candidates, active or passive, even before they have a position to fill. Engaging candidates from social media is a great way to attract candidates and build the talent pool. Social recruiting is the need of the hour. Ensure an impressive presence across all social media channels and allow candidates to come forward and introduce themselves.
Active recruiting efforts help the companies maintain a candidates’ database and have a good candidate pool even before the vacancy arrives.
Next comes candidate engagement. An online applicant tracking system such as Recruiteze makes the work of social recruiting a child’s play. It offers an inbuilt talent pool where all the profiles of alluring candidates can be stored. This best selling online ats in the US enables the recruiters to stay connected with the candidates.
2. Goodbye to Traditional Job Descriptions
Traditional job descriptions fail to attract candidates in today’s scenario. The millennials are looking for opportunities that reward them in terms of salary and give them flexibility and independence. Building a long bulleted list of job advert requirements would frustrate the candidates and discourage quality talent from sending applications.
On the contrary, too generalized applications would encourage most candidates (including ineligible ones) to apply, making recruiting more tiring, hectic, and frustrating.
The job descriptions should strike a balance between the company and candidate expectations. Candidate’s roles, responsibilities, and career graph should be evident in the job description.
3. Interviewing Properly
It’s important to give ample time interviewing the candidates as a lack of judgment in their skills, behavior, or cultural aspects could be another reason for the high turnover rate. The recruiters have complained about the lack of time they receive to interview the candidates as most of the time is consumed in resume filtering.
Recruiteze does that for you. All the resume filtering and scrutiny would be done instantly by this fantastic software. Moreover, a 24/7 email support ensures uninterrupted recruiting services across the continents and in all time zones. In today’s global scenario, when work-from-home is the new normal, the company can build a diverse culture as Recruiteze is cloud-based and can be accessed from any place and at any time.
4. Collaborative Hiring
Recruiting decisions should strive for a balance between skills as well as the cultural aspect of the candidate. It is always beneficial to make the final decision by collaborating with higher management or the recruiting team. Recruiteze offers an innovative feature of collaborative hiring where all the recruiting stakeholders can see, give feedback, or comment on the ongoing processes.
If you are looking for an applicant tracking system. Recruiteze is a simple, ultra-modern online ats. With Recruiteze you can post and publish jobs to numerous job boards with one click. You can also manage your career page and portal, jobs, applications, candidates, communication and notes in an easy to use interface. With Recruiteze you can reduce your cost of hiring, and increasing your hiring efficiency. Try Recruiteze online ats free today!