The ATS (applicant tracking system) simplifies the recruitment and onboarding process for the hiring managers of any organization. It is a must-have recruitment tech stack to help them filter through and sort multiple CVs to locate qualified candidates for any open position.
It can accomplish all these feats only because it can streamline the recruiting process. This includes creating job postings, job ads, posting them on job boards, screening, sourcing candidates, and tracking application statuses.
This further implies that to win a job interview, applicants would have to go the extra mile and optimize their resumes to make them ATS-friendly. Don’t worry, we have got you covered, both with applicant tracking software as well as the A-Z information. Let’s get started!
It Can Imitate a Human Mind & Scans Resumes for Specific Keywords
Several misconceptions about using AI in recruitment can dehumanize the hiring cycle. However, this is not true. The functions of AI in an ATS is developed to replicate the human thought process.
If an organization scans a resume manually, it will painstakingly have to look for keywords in every resume. An applicant tracking system makes the process timeline faster, saves time and money, and brings fewer margins of error.
For example, if you are hiring for the role of a Marketing Manager, your ATS will scan the resumes with the same keyword “Marketing Manager.”
It Can Scan & Sort Applicants
Applicant tracking systems have built-in resume parsing features that can pull out important information from candidates’ CVs and lay them out for the HRs to take note of. In addition, several ATS’ usually allow recruiters to shortlist favorite candidates’ CVs and include short notes. This makes hiring easier and collaborative.
HRs can even assign the keywords the software should scan for, including educational background, specific skills, and even manual filters that might be useful.
It Can Source the Right Candidates
Undoubtedly, applicant tracking software can track down qualified candidates for any open position. It makes the first step towards hiring talented candidates easier. However, you will fail to draw good applicants if your job description is not apt and if you miss out on including keywords.
ATS’ can also use a series of questions to eliminate candidates who a good fit are not. These questions are mostly in the form of checkboxes or require short answers. If candidates fail to answer these, they are eliminated automatically by the system. The system will then move to the next step in the hiring cycle if the candidate answers the questions per company standards.
It Saves Time for Value-Added Work
A good benefit spawning off from an automated applicant tracking system is its ability to save the HRs significant time compared to application processing and hiring processes.
An average of 75%-88 % of resumes are not qualified for any open position. By eliminating manual posting and listing and filtering out irrelevant resumes, HRs can wrap this process in a matter of seconds and not spend hours on it.
It Can Improve Cost-per-Hire
Most startups and small-scale enterprises cannot invest a huge budget for an expensive screening process every time they hire new talent. In the same way, they also cannot afford to hire the wrong resources due to an inefficient (or less efficient) screening process. This will cost them more afterward.
The cost-per-hire has gone down significantly with the introduction of an ATS in the market. The minimum cost for a recruiter a month is around $2000- $3000, while the cost of an ATS is a lot less.
It Can Better the Quality of Hire
According to a research, close to 80% of recruiters claim to have better hire quality by incorporating an ATS in their organization. Another research says that the shelf-life for the application of a qualified candidate is approximately 10 days.
By speeding the recruitment process, you can grab these talented candidates, something that competitors could have otherwise poached.
Organizations can avail of an applicant tracking system, both as a standalone and integrated with an HR onboarding software. However, with Mind Workplace, you get the ATS module integrated into a comprehensive workforce management software.
Named Mind Recruitment, this module is developed with applicant tracking, requisition management, and candidate management. Feel free to drop in your query to know more about our WFM software!