Moving from an ATS toward Talent Intelligence
77% of business leaders believe hiring and retaining qualified talent is vital to growth. But finding the right talent for open roles is an arduous task—C-suite leaders across industries consider talent and leadership shortages their top business challenge. Capturing the interest of active and passive job seekers alike requires companies to source candidates in a better, faster, and more technologically advanced way than ever before.
Innovative tools and features of ATS software will improve talent optimization for companies of all sizes, helping recruiters find the best candidates fast. However, a Talent Intelligence platform encompasses so much more than an ATS.
What is an Applicant Tracking System (ATS)?
An Applicant Tracking System is a tool that helps recruiting and human resources departments manage candidates' flow through the hiring process. The system can streamline the application process, track applicant status, verify references and resumes, and schedule interviews.
An ATS software automates the recruiting process, including applicant data management, resume parsing and storage, interview management, automated communication tools, and so much more. An ATS not only streamlines the recruitment process. But it also improves the candidate experience and increases engagement.
The 7 Most Important Features of Applicant Tracking System
Applicant tracking systems are the backbone of the modern recruiting world. They can save you hours each day by automating tasks, giving you more time to focus on your candidates and improving your company’s hiring process.
Talent acquisition is moving away from a traditional model, in which recruiters and candidates receive some support through applicant tracking systems. With the movement towards more comprehensive approaches to recruitment comes the need to pick the right system to help organizations manage all aspects of this process. Choosing the right platform is how you maximize the potential of your recruitment team. Here are the features and benefits you should look for in an Applicant Tracking System:
Streamline Your Recruitment with Advanced ATS Software
ATS software must consolidate, streamline, and make your entire recruiting process more efficient-from compiling job requisitions to broadcasting a role across multiple job boards, bringing all candidates into one recruitment funnel, and managing the source-to-hire process from start to finish.
User-Friendly Applicant Tracking System for Recruiters
An Applicant Tracking System should be designed to make it easier for your recruitment team to find, screen, and filter applicants.
If an applicant tracking system requires intensive training for your HR team, it further burdens their already-high workload. When choosing a tool, look for one that is easy to implement and use.
Finding an ATS that Seamlessly Integrates with your Existing System
You may already have a system in place to manage your employee payroll records, interview schedules, and employment documents.
Make sure that the ATS you choose can integrate with these tools seamlessly and doesn't require purchasing additional software or upgrading to another tool. Here is the list of things you need to check when purchasing an ATS.
Cost-Effectiveness of an Applicant Tracking System
In addition to being easy to use, the ATS you choose should be affordable. The cost of an ATS depends on its features and functionality as well as the size of your organization. Ideally, you want a system that offers everything you need but doesn’t require spending more than necessary.
Unmatched Customer Support for ATS Users
One of the most overlooked parts of a successful ATS is customer support. If you don't have the right kind of support, your business investment can end up costing more than it brings in.
Focusing on User Experience
For your ATS to be successful, you need it to be easy for users to use. The best way to do this is by focusing on user experience from the beginning. An ATS designed with usability will support your employees instead of making them feel lost when they log into their accounts.
Data Security and Compliance
Security is a top priority for any business, and your ATS should reflect that. You need an ATS that is secure and compliant with all of the relevant regulations in your industry. A good ATS will also include security features such as data encryption, two-factor authentication, and password management.
7 Top Benefits of Using a Good ATS Software
Automating the Recruitment Process. The right system saves time by automating monotonous, manual operations and administrative duties, allowing recruiters to focus their energies on more important tasks. The right system can even send automated follow-up emails and reminders. Other automated recruiting tasks include:
Assigning scores to applicants based on their profiles
Building candidate profiles from information available on the web
Sending updates to candidates and hiring managers
Sending job offer letters
Improving the Candidate’s Experience. A solid candidate engagement strategy is key to attracting the best possible candidates. This process is how you engage and motivate qualified candidates to complete the hiring process with your company. Automated communication tools, assessments, and interview management improve the candidate’s experience, minimizing hurdles and demoralizing mistakes.
Upgrading the Quality of Hire with Intelligent Candidate Matching and Ranking. Quality of hire is a metric that analyzes the value a new employee brings to the company. 88% of organizations view quality of hire as an incredibly useful metric. But it can be challenging to measure.
AI recruiting software matches candidates to the right jobs quickly and efficiently. Interview management tools, like interview preparation, customizable calendars, and agendas, prepare all parties for a smooth interview.
Lowering Hiring Costs. By automating the most time-consuming tasks, recruiters spend more time on high-value tasks. Companies can save significant time and effort with automation.
Decreasing Time-to-Hire. Time-to-hire is an AI recruiting software metric that analyzes how long a candidate spends in the hiring cycle. A lower time-to-hire means the candidate experiences fewer challenges in the process, leading to a faster offer. Utilizing a talent acquisition solution is a great way to speed up this metric and can reduce time-to-hire by an incredible 70%.
Increasing Productivity and Effectiveness in the Workforce. Gone are the days when recruiters had to spend hours sifting through tangible applications and paper resumes. Recruiter effectiveness and productivity is significantly increased when it is fueled by machine learning and AI in one platform.
AI-candidate matching sources qualified candidates much faster than traditional methods, while data and algorithms reduce bias and save considerable time. The right talent acquisition solution can analyze recruiting KPIs (Key Performance Indicators). KPIs help recruiting teams understand how well their processes are working.
Using Advance Candidate Sourcing Processes. A talent acquisition solution goes beyond resume parsing. It uses AI-enabled algorithms for more efficient candidate sourcing and resume harvesting. You can also accept applications through referrals and keep track of all candidates. Additionally, you can also consider candidates who are already in your database. Based on your core criteria, you can use the system to shortlist top candidates through multiple touchpoints (like your career page or job portals) with automatic rankings and resume scores.
Oorwin’s AI-Powered Talent Acquisition and Recruiter Effectiveness Solution
Oorwin’s Talent Intelligence platform includes both a Talent Acquisition and AI-Enabled Recruitment solution. These solutions intelligently source, hire, and onboard talent, making it ideal for companies of all sizes. This innovative HR technology features tools to:
- Readily source and screen candidates with the right fit using intelligent candidate matching and ranking.
- Discover the world's best talent with the competitive edge of AI Recruiting.
- AI-enabled sourcing allows you to source strong and passive candidates from multiple channels.
- Intelligent candidate matching maps all the relevant proﬁles based on the speciﬁed criteria for the jobs. The state-of-the-art algorithms match the proﬁles with a high accuracy in a few seconds.
- The AI-enabled engine provides recommendations of proﬁles that are closely matched to the job description based on previous experiences, skills, availability, and likelihood of acceptance.
- Readily manage job applicants based on interest and skill; initiate interviews and manage resume submissions using applicant tracking and interview management.
The Oorwin Talent Acquisition solution lets you configure email integrations within seconds, build real-time reports to track progress, harvest resumes at the click of a button, and run automated job searches for open positions across geographies. With Oorwin’s platform, you can reduce your time to hire by 70% and cost per hire by 60%.
With Oorwin’s Talent Acquisition and AI-enabled Recruitment solution, you will have the ability to:
- Gain visibility into and access to the best talent for the job roles you need to fill. Turn every candidate interaction into an opportunity for engagement.
- Boost productivity through AI-driven candidate matching and ranking and context-driven talent selection. Evaluate in a fraction of the time and select a subset of candidates to interview confidently.
- Create a robust pipeline to ensure your organization has access to the best talent.
Oorwin is a US-based SaaS company with a leading Talent Intelligence platform built for companies of all sizes. Oorwin provides AI-Powered Talent Intelligence to your sourcing, hiring, onboarding, and development. Boost productivity through AI-driven candidate ranking and evaluate your prospects in a fraction of the time. Enjoy rich dashboards, reporting, and AI-enabled analytics that raise the bar. Oorwin seamlessly integrates with your favorite application software to provide a more powerful single platform for your talent ecosystem.