The increasing volume of HR Tech and recruitment software being produced is a sign of the direction that the hiring sphere is headed; a heavily-tech assisted approach that relies on precise analytics and automation. With the use of NLP technology and AI solutions, many recruiters and hiring managers are able to automate a large portion of their work including sorting through resumes, applications, scheduling appointments, and tracking other pertinent information. Doing it all manually — as it has been done in the past — can be overwhelming, but not anymore.
These days several solutions exist solely to address recruitment challenges, from the very annoying basics to the competitive advantage that every company is after. Here are a few pieces of technology that could be helpful to your team.
Locating candidates at the level and caliber required by the employer is always difficult. The candidate profile that companies usually have in mind contains years upon years of experience, special skills, and elusive knowledge. And though theoretically, this profile does indeed reflect a brilliant hire, they’re extremely difficult to source because guess what;
You’re not the only one who thinks they’re awesome stuff.
That isn’t to say it’s an impossible task, it’s simply too much work especially if you’re hiring for multiple openings at the same time.
Investing in HR Tech or recruitment software, however, can at least simplify the sourcing process and accelerate the rate at which these individuals are discovered, giving recruiters more time to invest in enticing a potential candidate.
The right HR tech can provide the insights that recruiters need in order to better understand these candidates. Tech solutions that tap into social media and enrich the candidate’s profile with all the finer details that are often overlooked, can provide insight into their professional ambitions, their desire to grow, and their preferences.
According to a recent survey conducted by PWC, 58% of employers say finding, attracting, and retaining talent as one of the biggest issues driving their HR Technology decisions. In fact, 74% of surveyed companies declared that they plan to increase their spending on HR Tech in 2020 in order to properly meet their talent acquisition needs.
At this stage, the recruitment process takes a turn towards a more time-consuming activity. You’ve done a good job sourcing candidates and generating interest in your company, but you find yourself slugging through a stack of resumes and cover letters, most of which don’t make the cut and end up wasting a lot of your time.
Solutions such as ATS platforms can eliminate this step through automated parsing functions that store, analyze, and rate candidate profiles based on certain skills, how well they fit a specific role, and their professional journey so far. Instead of having to brave hundreds of resumes looking for a gem, the right software can automate the process through NLP Technology and AI functions.
Not only that, but the right software can also be a very good organizational tool for the massive amounts of data that HR and recruiters have to deal with on a recurring basis. It would even allow them to create and customize their recruitment pipeline for optimal data management and easier access to new collaboration features.
Onboarding and Employee Tracking
This is perhaps one of the most vital stages of any healthy recruitment process. Refining your onboarding can make or break a good hire. There are many elements to the onboarding stage, several of which pertain more to the company’s digital transformation than they do the candidate themselves.
By utilizing these emerging tech tools as part of the work processes, employers indirectly make onboarding a much more defined process itself, one that is guided and oriented by the very tools that candidates are expected to use.
Moreover, the adoption of multiple software solutions reduces the need for manual data input. For example, connecting an HRM platform to your ATS of choice via API allows recruiters and HR to transfer candidate data between the two as they make their journey across the onboarding pipeline. This aggregates candidate details and metrics into a single interface such as customizable onboarding milestones, starting dates, probation tracking and so on.
Recruitment Metrics & Analytics
It makes no sense to go through an extensive digital transformation, adopt new tools, revamp your recruitment process, and not bother to track the metrics through which your company can grow.
In the recruitment world, important metrics such as Time to Fill, Cost per Hire, Source of Hire and Candidate to Hire ratio are valuable insights. This can help you pinpoint which areas of focus in your recruitment process need optimization the most — and most HR tech can help you track these pertinent pieces of information which in turn can help your company grow.