Applicant Tracking System-Transforming Hiring Norms

Is Applicant Tracking System The Future Of Hiring Process?

 “Hiring the right employee has always been the key element for a successful organization. When you choose the best, you automatically get the best results!” _ Deepu Prakash, Senior Vice President, Process and Technology, Fingent

While candidates come aplenty, finding the right talent from the pool has always been an enormous challenge for recruiters and staffing agencies. Thankfully, technologies like AI-powered Applicant Tracking Systems are changing that in a big way.

An Applicant Tracking System (ATS) is a software that automates the recruitment process. It electronically filters, organizes and streamlines job applications according to job postings. ATS simplifies the complex process of recruitment by providing a centralized platform to view applicants. AI-powered Applicant Tracking Systems enable filtering applications based on set criteria and helps recruiters a big way, in tracking the advancement of applicants through the hiring process. In this article, we will consider how ATS can prove beneficial to recruiters and staffing agencies in particular.

How Does ATS Transform Hiring Norms?

ATS collects and maintains a database of candidate resumes and applications within itself. ATS tools help in hiring managers and corporate recruiters track and filter resumes in the hiring funnel. The major difference between traditional hiring and hiring with the help of ATS can be compared to the difference between fishing with a hook and fishing with a net. The benefit of the latter is a much bigger catch! ATS allows recruiters to track hundreds of applicants more efficiently rather than handle each applicant manually.

 Companies that outsource talent can benefit greatly from ATS. Since they are not limited by geography, they can cast their net globally. It is not uncommon for a company to receive thousands of applications for a remote job they have posted. With ATS, they can filter out the right candidates for the job and save time and cost. 

How HR and IT Combine to Deliver Real Value to the Enterprise

 How Does ATS Empower Corporate HR?

ATS empowers the recruitment process in the following ways: 

• ATS enables recruiters to post jobs online, receive and sort applications, screen out unsuitable candidates, process applications, communicate with candidates quickly, organize interviews and even handle the hiring process online.
• The AI integration enables ATS to identify patterns and segregate resumes/candidate profiles according to various departments and customized fields.
• One of the most important benefits is that it saves time. It is estimated that resume screening and candidate shortlisting can take 23 hours and making a hire could take four months. ATS can make this task easier, faster and automated, thus reducing the cost-per-hire and the time-to-hire.
• ATS allows corporate recruiters to be proactive and create jobs on platforms, which can be published on social media networks as well as targeted job boards. 
• ATS assists corporate recruiters to screen candidates, to ensure they progress through the workflow process and store all the documentation in one place. It helps them to monitor applications at each stage and identify any issues early on thus reducing the time-to-hire period.
• Another important recruiting goal and challenge are accessing the right candidate skills. ATS includes features for customizable interview scorecards and questions. It allows recruiters to customize them based on the most important characteristics. This makes candidate evaluation easier and efficient.
• With AI-enabled ATS, recruiters can also set match levels for various job roles under different departments.
• An ATS with good reporting functionality will be able to help corporate recruiters measure the effectiveness of marketing. A good reporting engine will help recruiters, quickly pull out reports which show things like diversity statistics and the source of the application.
• Online job boards make it quick and convenient for candidates to apply for open positions resulting in a load of unrelated applications. An ATS is capable of quickly weeding out those unqualified candidates even before humans open a resume.

Related Reading: Check out how Odoo can help meet HR requirements.

How Does ATS Empower Staffing Agencies?

 More than 98% of Fortune 500 companies are using ATS. This is a clear indication that ATS is an indispensable software for staffing agencies. Here are a few reasons why:

• An ATS helps staffing agencies grow their business. The bigger the staffing agency, the more complex their database. Communication, tracking candidates, and other recruiter activities can become difficult to manage. AI-enabled ATS identify patterns and sorts resumes according to job profiles helping recruiters choose the best candidates among the large pool.
• ATS empowers staffing agencies to source candidates more efficiently. The existing candidate pool within an ATS is often a very good resource for finding quality candidates. 
• A good ATS has an open ecosystem where you can match solutions to needs effectively. This allows users to customize ATS to meet a client’s specific needs by adding partner extensions, integrating third-party vendors, and building new applications on the platform. 
• ATS improves the candidate experience. According to key findings in a Global Recruitment Insights and Data study, respondents said that “candidates will matter most in 2019, with sourcing (61 percent) and candidate engagement (36 percent) leading the pack.”  ATS along with its integrations can help in this regard by simplifying and enhancing every step of the candidate experience.  
• It helps agencies keep their clients happy by improving client management. ATS can log all of your conversations with a client automatically. 
• ATS helps staffing professionals to be more productive because it allows team members to work from anywhere and still collaborate effectively. 
• The conventional recruiting process causes a lot of friction between hiring managers, the HR department, and others involved in the process. An effective AI-powered ATS will help smooth things out and reduce disagreements, thus making it easier for all involved to work together. 
• A shorter time to hire always works better for the organization. Not only does it save resources, but it also ensures that suitable, qualified candidates are selected and hired quickly before the competition has a chance to snatch them away.

Power Charge Your Hiring Process with ATS

As discussed, a good ATS will illuminate and guide all aspects of the recruitment process. It will help corporate recruiters and staffing agencies better understand their candidate pool and make quicker and more effective hiring decisions. It is reported that 86% of staffing professionals were able to hire faster with the help of ATS. Understanding and using the candidate database to improve hiring performance helps the business act more quickly. Quicker onboarding process results in increased productivity, which translates to more profitability.

At Fingent, we understand the need to keep pace with the requirements of today’s market. Bringing together smart AI and recruitment practices, we create purpose-built software to help you reach your ideal candidates faster. So let’s get you started with an Application Tracking System that will transform your business and beat the competition.

Watch more about Applicant Tracking System.