5 Hiring Statistics Proving You Need Candidate Tracking Software
Candidate tracking software is a versatile – even essential – tool for hiring managers and HR departments, whether you’re a recruiter for a major corporation or a budding entrepreneur with a growing small business. Recruitment automation software takes much of the guesswork out of the hiring process, and in doing so, saves you precious time (and money!). These five statistics demonstrate why every business should be using candidate tracking software to optimize recruiting.
Did you know that it costs an average of $4,000 to fill an open position? There’s a lot of competition out there. If you want to beat your way to the front of the crowd so you can get the top candidates, it could cost you. You’ve got recruiter salaries and benefits, third-party recruiter fees, advertising agency fees, employee referral bonuses, travel expenses for applicants and staff…the list goes on.
Candidate tracking software dodges some of those fees by posting to all the relevant job boards and career sites automatically. You don’t have to pay someone to post the same job description over and over again. You may even be able to use your candidate tracking software to conduct video interviews and avoid those travel expenses.
The most common barrier to identifying talent is too many unqualified, junk resumes from job boards, according to 80% of employers. You don’t want to waste precious time scanning hundreds of resumes from applicants who don’t fit even the most basic qualifications. That’s where candidate tracking software comes in.
One benefit of recruitment automation software is that it’s, well, automated! That means you can ask pre-screening questions to separate the great from the mediocre (or the completely unqualified). Weigh certain questions more heavily to give each candidate a total score that you can use to rank your applicants. Candidates who don’t pass the pre-screening can be moved to a do not pursue stage and informed of their rejection via an automatic email.
On average, companies conduct three interviews before making a job offer. If you’ve got three finalists vying for the job, you could be conducting and coordinating nine interviews. And since managers can (and should) be engaged in the recruitment process, you’ve got multiple schedules to take into account.
Enter candidate tracking software. Managers and applicants can log in to view and schedule appointments. Set up an automatic email reminder so no one shows up late. Managers can include feedback and share their thoughts which are included in the candidate’s record. Everyone involved can view the notes and come to a mutual decision informed by every touchpoint with the applicant.
Almost 9 in 10 job seekers plan to use their mobile phones to search for jobs. Cell phones are ubiquitous, and they’re used for far more than simply making a phone call. Job seekers use their cell phones to search for new jobs, upload their resumes, and even submit applications. But only 13% of companies use mobile technology for recruiting and candidate management. If you’re not mobile-friendly, you’re missing out on some seriously good (and tech-savvy) job candidates.
Candidate recruiting software can help. Recruitment automation software integrates with existing mobile-friendly career sites, so your listing is visible on a cell phone. Submitting a cover letter or resume over the phone is easy via your company’s public job board. Your mobile-friendliness shows that your company cares about making it easy to apply – and that you aren’t behind the times.
Fully 94% of recruiters and talent managers who use candidate tracking software say it has improved the process. Can you think of any other tool with that kind of ROI on happiness? Candidate tracking software is used by 75% of companies, and with good reason. Recruiters, talent managers, and HR staff report that a candidate tracking software has a profoundly positive impact on recruitment.
What is it about candidate tracking software that makes it so helpful for every industry and company size? We could tell you, but we’d much rather show you. Start your free trial of ApplicantStack today, and learn why so many companies are turning to our candidate tracking software for the easiest, most efficient recruiting process.
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