The talent market is bouncing back from involuntary layoffs and downturns. This time, candidates are in complete control of their direction.
The thing is, competition isn’t just tighter, but tougher as candidates now have the liberty to pick whom they want to apply to, proven true by the fact that the quit rate rose to a whopping 4.4 million in September. So it’s no wonder recruiters are bringing out the big guns in enhancing their candidate experience, and at the forefront of their arsenal is recruiting automation.
Your chances of attracting the best candidates tomorrow will largely depend on how intelligently you can enhance your recruitment process through recruiting automation today. According to a McKinsey study, historical data proves that innovative organizations perform better than competitors who don’t. So, unfortunately, if you still operate in the past, you are in danger of getting left behind.
WHAT IS RECRUITING AUTOMATION, AND WHY DOES IT MATTER?
Innovation is critical to progress.
There’s no escaping the fact that if you want to thrive in a candidate-driven market and be a recruiter of choice, you need to meet candidate expectations in more ways than one. A few insights you can ponder with regard to that:
- When an application process is too long or taxing, 60% of candidates drop the application altogether.
- 30% of job seekers say that recruiter responsiveness is one important thing they consider in line with candidate experience.
- 75% of candidates claim that either they weren’t asked at all or were rarely asked feedback in their candidate journey.
Based on those statistics, we can see that the voice of candidates is growing louder and louder. They demand nothing less than exemplary recruitment services, and how you meet those expectations will determine your chances of becoming a recruiter of choice. Here’s where recruiting automation makes a difference — technology specifically made to streamline recruiter tasks and workflows from within. It’s the very thing that will keep your recruitment team running like a well-oiled machine.
From sourcing to candidate feedback, there’s a recruiting automation tech for your every need. A reliable tech stack can effectively smoothen out every step of your recruitment process and augment recruiter performance through machine learning, artificial intelligence, and predictive data analytics. In addition, being equipped with the right tools can help increase recruiter adaptability in a constantly changing market, as 68% of recruiters say that leveraging innovative recruiting automation technology is one best way to improve recruiter performance for the next five years.
Opportunity favors the ready and staffing firms that are sophisticated and equipped to run complex recruitment processes that have multiple work streams are in the best position to become a recruiter of choice.
HOW LEVERAGING TECHNOLOGY CAN BENEFIT YOUR STAFFING FIRM
The case for recruiting automation technology is simple: it enables recruiters to meet recruitment KPIs better and easier. Essentially, the whole point of improving recruiting workflow and processes is to make better placements, deliver a stellar candidate experience, and save your clients money so you can impress them.
These are encapsulated in the four most common recruitment metrics: time-to-hire, cost of hire, quality of hire, and candidate experience.
1. It reduces your time-to-hire and cost of hire.
According to a recently published report, the main thing that recruiters need to win top talent in the coming year is efficiency. Sounds simple, right? But organizing hundreds of incoming applications while juggling candidate expectations is easier said than done. Especially that reports show, the most time-consuming job of recruitment is the manual screening of resumes. One recruiter can spend an average of 23 hours going through applications to find a quality candidate.
In other words, manually doing everything will cost you valuable time and resources. Moreover, it’s unimpressive, counterproductive, and can burn your team out.
Recruiting automation can help speed up the process without compromising quality. For example, some Applicant Tracking Systems (ATS) are powered by artificial intelligence. They use intelligent screening software that uses data insights to learn the job requirements, screen candidate applications, and present results using predetermined recruitment criteria.
A one-stop-shop for your sourcing and screening needs; it’s no wonder that this software is a staple among staffing firms, with 78% of recruitment and HR leaders saying that having an ATS has made finding quality candidates easier. This can significantly speed up the recruitment process while assessing each candidate’s qualifications accurately.
You can use it to effectively source and filter applications in half the time, spending fewer resources, and best of all, with minimal effort.
2. It improves the quality of hire.
Quality of hire (QOH) is considered a vital recruitment metric for measuring the success of your recruitment strategy. It’s because, as a staffing firm, you have one job: to make quality and high-value placements. Without this, all other initiatives go out the window.
Considering that this is the linchpin to your success, doesn’t it make sense that you employ all possible data-driven means to guarantee a successful placement every time?
This is where the need for recruiting automation is most critical: machine learning can take your matchmaking skills from guesswork to data science. From ATS to Candidate Screening Software, plenty of options are in the market that can suit your staffing firm’s needs.
With insights gathered from assessment results, job descriptions, candidate resumes, public data sources like social media profiles, and historical data of previous successful hires, recruitment technology can efficiently and accurately provide data-driven rankings against the job requirements. Not only does this give the recruiters an idea of the candidate’s job fit, but it can also give valuable predictions on which candidates are most likely to be a good organizational fit.
On top of this, it also decreases common recruiter biases and allows more room for diversity, and allows for more fair recruiting practices. This is one significant advantage that should not be disregarded, considering that a diverse team is 1.7x more innovative and 87% better at making decisions.
3. It can help you deliver top-notch candidate experience.
As recruiters, you’re selling more than just an open position. It’s a life-changing decision for your candidates — a choice that will cost them over 40 hours of their time, five days (or more) a week. Persuading them to partner with you in this endeavor will take more than just a handsome paycheck and fleeting promises; it’s meaningful connections that will win their trust.
Remember, being in the human capital business requires that you go beyond a transactional approach. The best candidate experience is one that is authentic and personalized. If you want to set yourself apart from your competition and make a mark in the staffing world, every touchpoint should make a lasting impression.
Candidate feedback is the best way to get insight into candidate expectations and recruiter performance. Creating Google forms, chasing after each applicant to capture their review, and consolidating it into weekly reports is very time-consuming. Automating them through a reliable experience management platform will eliminate all administrative work involved and essentially provide you with real-time reports without you even lifting a finger.
Your recruiters will not just have the time that they need to demonstrate the human touch of your recruitment brand; they can also access insightful data that can help with data-driven decisions in meeting candidate expectations.
Sure, there’s absolutely no replacement for the human touch. However, technology does help.
INVEST IN A RELIABLE TECH STACK AND EQUIP YOUR RECRUITERS FOR SUCCESS
Great Recruiters understands what your team needs to deliver superior candidate experience and meet recruitment metrics. Our experience management platform automatically captures the feedback of your candidates and generates real-time reports, so you can optimize your recruitment strategies to deliver beyond candidate expectations each time.
Taking a step toward recruiting automation is essentially making a strategic step toward better allocation of your recruiter’s efforts. Provide your team with the tools they need so they can thrive in a competitive talent market.
Request a demo today.