How ATS in the Recruitment Process Can Save Money

Whether you own a small staffing company or employ thousands of recruiters, automating and streamlining your recruitment process is the key to increase your bottom line. According to Glassdoor, to hire a new talent for organizations in the US spend, at least $4,000 is spent every time and the stakes can get even higher when the position is really tough to fill. Hiring a new talent requires time, efforts, and money. Therefore, it's important to automate the most mundane tasks in the hiring process and improve recruiters' productivity. How it can be made possible? By using Applicant Tracking System (ATS).

Applicant tracking system for staffing agencies is a software that features powerful tools to speed up your recruitment cycle – from sourcing, screening, interviewing to onboarding – without compromising candidate experience. Here is how an ATS software can up your recruitment game and help you save money and increase your revenue:

1. Decrease Time to Hire

According to a study by the Society for Human Resources Management, it takes 42 days to fill a position. As a staffing company, if you take more time to source good candidates for a particular vacancy, you may lose your client. It's that simple. You must reduce your time to hire. An ATS software features sourcing tool with automated parsing of resumes from your Outlook and zip folders. You get a central database of rich candidate profiles. Enter keywords to search for the best resumes according to a given position. Identify the talents whose CVs look good and reach out to them via automated email responses through your ATS. Apart from these rich tools, most ATS solutions offer basic features like job posting to multiple boards, candidate screening, and collaboration tools save a lot of time of your recruiters, thus decreasing time to hire and increasing their productivity. What your staffing agency gets at the end – more candidates placed in the US companies in a short span of time, increasing your revenue.

2. Decrease Cost Per Hire

How cost per hire is calculated?

Cost per hire = (internal recruiting costs + external recruiting costs) / (total number of hires in a given time frame)

The best ways to reduce your cost per hire and get the most out of your resources are to automate specific workflows, use data-driven insights, and improve the performance of your recruiting initiatives. An applicant tracking system for staffing agencies are designed to let recruiters create candidate persona easily based on expertise and experience, build a qualified talent pipeline, use reports and analytics to improve the recruitment process, and remove human errors. An ATS is the perfect solution to reduce your internal and external hiring costs and increase number of hire in a given timeline. In a nutshell, make your efforts all the more profitable over a time with ATS software.

3. Improve Quality of Hiring

A recent survey revealed that 78% of recruiters who used ATS solutions increased their quality of hiring. If you are looking for top talents in the market, remember that they are available for hire for less than 10 days. You need to speed up your recruitment process, and at the same time, need to make sure you hire best talents for your clients. In ATS system, you can collect the right data about all candidates, parse them using intelligent automation, and use AI to improve quality of selected candidates through screening, interviewing and talent intelligence. ATS software is engineered to provide best candidate experience as you can send automated emails for interview schedules, send them onboarding message and stay connected after you hire them.

Wrapping up

Applicant tracking system can make the hiring process more productive and cost-effective by improving your quality of hire, decreasing time to hire and reducing cost per hire. Invest in a well-designed ATS system today to save money in the long-term.

I, Christina, have been working with Jobvritta for a while now. Jobvritta provides the most comprehensive, powerful and user-friendly end-to-end recruiting solutions for staffing companies.