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Top 5 Ways Applicant Tracking Saves You Money
If you're still riding in last century with paper resumes because applicant tracking systems are unaffordable, I've got news for you.
If you’re still sifting through paper resumes as part of your recruiting strategy, you may as well be throwing money out the window. An applicant tracking system (ATS) has created so many efficiencies that it’s one of the top employer advantages in today’s world of technology.
The good news is that an applicant tracking system is available to both large and small employers. In fact, some estimates say that even a small company with just 8 employees can save $10,000 in wasted time and effort by using an ATS. Here’s why:
- Job Qualification. Most applicants don’t spend as much time as they should reading through job descriptions when they apply for a job, meaning many really don’t know if they’re even qualified. That leads to a significant amount of time on behalf of you, the employer, sifting through unqualified applications. With an ATS, you can define qualifications that have to be met before your eyes even see a particular application.
- Higher Retention. Applicant tracking helps you find applicants that are better matched for the job, making them more likely to stick around instead of jumping ship when a better-matched job becomes available. In return, this makes you a happy recruiter that can focus less on turnover and more on employee engagement.
- Happy Candidates. One of the greatest downfalls of using the “old-fashioned” applicant sifting method is that it’s difficult to keep applicants in the loop about their application status. According to com, “58% of candidates who have a poor experience cite ‘not receiving regular updates’ on their application as the reason.” Most applicant tracking systems have auto-responder features, which makes staying in touch with candidates a breeze. Simply communicating with candidates about their status keeps even the pickiest of applicants satisfied.
- Better Company Image. Having an ATS gives the connotation that your company is “cutting edge” and using technology to get results rather than stuck in an older generation. In addition, the auto-responder features will prevent angry applicants from slamming your company on social media because they never heard back from you. Overall, the better your company image is, the better your chances are of getting higher quality candidates with each new job opening.
- Reduced potential for discrimination costs. Using an ATS may actually save you money spent in litigation costs. The system sorts applicant information for you based on match rather than on human bias factors (i.e. protected class criteria), helping you to avoid a potential discrimination claim.
As part of our suite of HR Tools, Stratus.hr clients have full access to our custom-built applicant tracking system to help streamline their hiring process. This makes it possible for even the smallest, least technically capable organizations to take advantage of automation without having to spend a lot of money and resources researching ATS tools. To learn more about the features within our ATS, please contact your HR Consultant.
Not a current Stratus.hr client? Book a consultation and our team will be in touch with you shortly!