Whether it’s a revolution or evolution, technology touches our lives in ways that few could even imagine just a few years ago. There are few, if any, industries that have not been transformed by the digital age.
With the rise of new technologies and automation, there were some that feared the robot apocalypse was upon us. Who needs actual people when machines, algorithms, software and programs can do the job faster, smarter and more cost-effectively?
In the recruitment and HR industries, as job boards, social networking and websites like LinkedIn began their relentless rise, many believed that the human touch was about to stripped from an industry that only exists for human capital.
Of course, the very opposite is true. While there’s no denying some roles and industries have changed forever, advancing technology means new industries are emerging, new roles are being created and new skills are being sought by candidates and employers alike.
In the hiring industry, recruitment software is here to stay. This article explains how it can be working hard for you and providing a seamless and rewarding experience for your team, your clients and for every candidate.
The technology landscape in recruitment and HR
In this article we’re specifically looking at recruitment software and exploring its role and impact in the hiring process. Before we do, it’s important to understand its context and connection to the technology that can support the complete employee lifecycle. This extends from talent acquisition right through to the ongoing management and development of people through HR teams. The recruitment strategy and candidate management technology pipeline covers:
- Customer Relationship Management (CRM) – tools use to manage and analyse interactions with past, current and potential candidates. It enables a proactive and ‘always on’ hiring strategy, by tagging, categorising and growing deep talent pools.
- Applicant Tracking System (ATS) – an online platform that simplifies and streamlines the entire recruitment process from sourcing to selection. We’ll explore ATS in this article.
- Vendor Management System (VMS) – tools used by specialist recruiters and companies to manage the end-end process of contingent labour – freelancers, contractors, sub-contractors, statements of work (SOW)
- Human Resources Information Systems (HRIS) – the core people system underpinning an organisation’s HR department with capabilities that may cover: onboarding, human capital, leave management, learning, recruitment, performance management and feedback, payroll and benefits.
- Learning Management System (LMS) – Learning and development is critical for organisations to evolve workforce skills and knowledge to meet skills gaps and evolving technologies. These tools administer, track, report and deliver
e-learning, training and development programs
So what is recruitment software?
Recruiting software is not one thing. It’s an umbrella term for different tools that address different stages of the recruitment process. From creating job requisitions and conducting candidate screening to scheduling interviews and even sending out job offers, recruitment software can automate every step of the hiring process.
Generally, most types of recruitment software can be categorised into four categories and will address some or all of these key functions of the recruitment process:
- Sourcing – this is all about identifying, finding and attracting potential candidates.
- Engagement – how recruiters, candidates and organsations stay connected throughout the hiring process. It’s about nurturing relationships.
- Selection – a range of tools and technologies to help accelerate the process of identifying candidates with the best or appropriate qualifications from the pool of applicants
- Hiring – software tools that can be used to manage and coordinate the practicalities and processes of hiring and even onboarding candidates
Just as there are many types of recruitment agencies, there are many types of recruiting software and every solution will look different. Some recruitment agencies may also manage work placements so their recruiting software technology stack may include a Vendor management System as described above.
An agency placing technology professionals into permanent positions will have very different sourcing, database and engagement needs than an agency working to high volume briefs for customer-facing service roles. An agency retained for search and recruitment at the highest executive levels will have different needs again.
Why do you need recruitment software?
It’s rare to find anyone in the recruitment business that hasn’t begun to automate at least some of the hiring process. Job seekers – and not just those tech-savvy millennials – have been quick to embrace and engage with mobile apps, social media, job boards and more to find their next job. However, there are still many organisations relying on outdated and labour-intensive recruitment methods.
Recruiting software has been developed and continues to evolve to address the universal challenges and experiences of recruiters the world over:
- Time – Filling any role could take weeks or months, much of it spent reviewing and screening CVs and candidates, communicating with candidates and hirers, scheduling and coordinating interviews, making job offers and more. Recruiting software can help automate these processes and give you back your time to concentrate on higher value tasks.
- Costs – As much an issue for recruiters as it is for the businesses engaging them, traditional manual and paper-based processes can be expensive. Recruiting software can dramatically lower costs to hire, repaying technology investment quickly.
- Hard work – Any recruiter will tell you there are simply not enough hours in the day (or dollars in the budget) to stick with traditional labour-intensive, manual processes, especially in high volume recruitment briefs. Is there really anyone who will manually read and screen the CVs of 5,000 applicants?
- Free the people – For most hiring and talent acquisition teams, human resources are stretched thin already. Recruiting software can give your people more time to deliver a positive experience for every candidate.
- Skills shortages – In the history of work, there has always been and always will be industries and times when it’s challenging to find appropriately skilled candidates. Recruiting software can help recruiters find more candidates, with the right skills to fill roles sooner.
What does recruitment software do?
The hiring process has many steps. From promoting job opportunities to screening CVs, tracking candidates to making job offers, there are many pressure points. The process can be costly and time-consuming and if things go sideways, you’re not just burning hours and dollars, you could be burning candidates too by making poor hiring decisions.
Automated recruiting software can do all the heavy lifting for you. It organises all the tools and all the data in one place to provide end-to-end functionality through the complete recruitment process. Simplifying and enhancing that process ensures a better experience for everyone – recruiters, hirers, HR departments… and job candidates alike.
By streamlining process, recruiting software can help you significantly reduce hiring costs and fill roles faster.
What are the benefits of recruitment software?
Here’s how your organisation can benefit from recruitment software:
- Automation – It’s not about software doing your job, it’s about software helping you to do your job better. From managing client databases to scheduling interviews, automation of many daily tasks can give you back time to focus on higher value briefs and enhancing the candidate and client experience.
- Hire better, faster – Through the one platform, recruiting software can help improve hiring metrics including time to hire, cost per hire, employee retention, turnover rate and quality of hire. An easy, pain-free application process means more candidates are likely to apply for your jobs.
- Finding, attracting and cultivating candidates – Candidates are the fuel in the engine of the recruitment business. Most recruiting software solutions will include capabilities to implement a CRM system to build deep talent tools of ‘ready to go’ prospective candidates.
A CRM platform may stand alone or integrate with an Applicant Tracking System (ATS) that can streamline the entire recruitment process. At its simplest, an ATS is a data-driven system that eliminates the paper chase of traditional recruiting. There are fewer opportunities for data-entry errors and as data is digitised and can even be stored in the cloud, say goodbye to physical files and unwieldy paper charts.
Every ATS is different, but most will include integration with online job boards, careers pages and resumé databases, automated hiring workflows, communication capabilities and reporting tools.
- Evaluating candidates – As reading and screening CVs and job applications can be the most time-consuming part of any recruiter’s job, this is one of the areas that many recruiters prioritise for automation. Driven by artificial intelligence and powered by machine learning, Ai recruitment tools are used for 3 key functions in the hiring process: sourcing, screening and interviewing of candidates.
Ai tools can use text, voice and even video to automate part or all of the evaluation and interviewing process. Making the recruitment process up to 90% faster, it’s especially useful for high volume recruitment briefs such as frontline retail or customer service roles.
- Support diversity goals – Ai-enabled interviewing and screening can help reduce the effects of unconscious bias – the inherently human prejudices, personal preferences, beliefs and world-views that shape our assessment of others. Our biases can easily have a negative impact on candidates and mean you’re potentially missing out on the best candidates for the job. It can also mean employers are missing the opportunity to cultivate workplace diversity and all the benefits it delivers.
PredictiveHire’s Ai recruiting tool is a text-based, mobile-first interview offering blind-screening at its best, with no gender, age or ethnicity revealed. Candidates rate the experience highly and appreciate personal feedback and coaching tips.
- Reporting and insight – Most recruitment software solutions will provide easy, extensive and accurate reporting so you can gain valuable insights into candidates, trends, costs of recruiting and more.
Good reporting and centralised information can also enhance communications and collaboration between all stakeholders in the hiring process – candidates, recruiters, hiring teams and employers.
Ready to continue your exploration of recruitment software and the benefits it can bring to your business? Find out more about PredictiveHire’s Ai-powered recruitment tool and how we can support your recruitment needs today.
You can try out PredictiveHire’s FirstInterview right now, or leave us your details to get a personalised demo