Wed Mar 06 2024
5 min read
Applicant Tracking System (ATS) Software Guide for 2024
As the job market turns out to be candidate-centric, companies are adopting modern techniques to attract and engage talents. One such powerful technology is Applicant Tracking System software, which can help you automate and simplify the recruitment process. Moreover, it enables you to filter top candidates irrespective of their location, race, color, and other discriminating factors. Thus, not only do you build a strong foundation with these top candidates, but you also promote diversity and inclusion in the organization. Additionally, it has the ability to screen a large volume of applications in minutes. Therefore, ATS reduces recruiters' time and manual efforts while allowing them to focus on the core recruitment process.
Research says that more than 98% of Fortune 500 companies currently use recruitment software like ATS. Some of the popular ATS software available in the market are Pitch N Hire, Breezy HR, Bullhorn, Freshteam, BambooHR, etc.
Types of Applicant Tracking System Software
We have listed some common applicant tracking system software recruitment teams use to simplify their process:
1. Cloud-Based ATS
You can host these ATS systems on remote servers. Then, your recruitment team can easily access them from any device with a stable internet connection. It is easy to set up and maintain as the software provider offers technical support and updates. Additionally, you don't have to purchase and maintain on-premises software and hardware but pay a monthly or annual subscription fee.
2. On-Premise ATS
Unlike cloud software, these on-premises ATS are purchased and run on your organization's servers and computer. It is only accessible within your company's network, and you have entire control over it. These are primarily used by large organizations with a dedicated IT team.
3. Integrated ATS
An Integrated ATS works seamlessly with all other tools in your company, including job boards, social media platforms, HRIS, or HRMS. It allows your business to streamline its recruitment strategy and manage HR data all from one location. Additionally, they help in automating repetitive tasks and ensuring better recruitment.
4. Standalone ATS
They don't integrate with any HR tool and focus on specific tasks like posting job vacancies, talent tracking, and scheduling interviews. Unlike an integrated ATS, a standalone ATS software is not that efficient but is affordable. These are primarily used by small companies with tight budgets.
5. Open-source ATS
A developers and software user community develops and maintains open-source ATS like JobAdder. They are highly cost-effective as you don't need to pay license fees or ongoing costs. Additionally, recruiters can modify their source code according to their business needs. However, if your organization wants an open-source ATS, ensure you have sufficient technical expertise to use them.
Key Features and Functionalities of the Best Applicant Tracking Software
Applicant tracking system software is presently undergoing significant changes in its key features and functionalities. With the changing hiring needs and the job market becoming extremely candidate-driven, it has become a necessity for your organization. Listed below are a few standard ATS features and functionalities:
1. Job Posting and Candidate Sourcing
Applicant tracking system software assists recruiters in creating job requisitions and circulating the post on multiple boards and websites. Additionally, they source candidates from each of these channels and ensure you find the top talents.
2. Resume Parsing and Scanning.
They often create an ideal candidate profile according to your job requirements. It helps them screen resumes and match their relevance with the job needs. Only the applicants who successfully meet these criteria are taken forward. The hiring manager can choose talents from this shortlist stored on the ATS.
3. Customizable Hiring Workflows
The applicant tracking system offers tools to manage customized hiring processes. For example, scheduling interviews, sending automated email notifications, and tracking candidates' progress.
4. Effective Communication and Collaboration
ATS allows the integration of in-built communication tools and facilitates seamless communication and collaboration between your hiring team members. It provides a centralized platform for recruiters and recruiting managers to share candidate profiles, leave comments, and exchange feedback.
5. Integration with Other Tools
There are several ATS systems in the market that allow integrations with other HR software. For example, HRIS (Human Resources Information Systems), CRM (Customer Relationship Management), video interviewing tools, etc. Therefore, such technology helps you enhance the overall hiring process.
6. Analytics and Reporting
Recruitment strategies are primarily dependent on data and analytics today. It helps you improve areas that simplify your hiring process and allow you to make the best choice. ATS offers insights and reports on various recruitment metrics. For e.g., time-to-hire, diversity statistics, etc. Thus, it helps you optimize the overall hiring process.
Benefits of Applicant Tracking System Software
According to LinkedIn research, 70% of the global workforce is passive talent, while the remaining actively seek jobs. This makes companies focus mainly on passive talents who are already content in their current role. Hiring these candidates is the toughest, and you need to use the best recruitment strategies to target them. Additionally, you must focus on active job seekers and promote a diverse and inclusive organizational culture.
In this scenario, an applicant tracking system software can significantly help. Listed below are a few benefits of such technology:
1. Enhanced Passive Candidate Sourcing
While active job seekers may directly apply for your vacancies, passive talents won't do the same. You need to proactively search for and identify them, and ATS helps in the process. These candidates were either previously sourced or applied for your openings, and ATS stored all their information for your use.
2. Source Diverse Candidates
Applicant tracking system software doesn't discriminate among candidates. Thus, they allow you to create a diverse recruitment strategy and promote your DEI initiatives. Most candidates prefer companies that encourage diverse and inclusive work environments. Therefore, you can rank among such companies with ATS and attract talents from diverse backgrounds, locations, and domains.
3. Saving Recruiters' Time
Recruiters spend a lot of time hiring candidates, but top talents are available only for ten days. However, using an ATS, you can speed up the whole process by automating manual tasks, e.g., resume screening, application tracking, and interview scheduling. Thus, it saves time with mundane tasks and focuses more on core activities, like building relationships with talents.
4. Improving Candidate Management
An applicant tracking system software can assist you in efficiently organizing and managing applicants' data. It includes storing data of candidates who may not be suitable for your current openings but the future company needs. Thus, you can easily access them and contact talents whenever your company needs them.
5. Targeted Job Advertisements
Job descriptions are the first interaction point between candidates and your company. Therefore, you must make it attractive to showcase a positive brand image. ATS recruitment software can assist in creating creative and engaging job advertisements and posting them on multiple platforms to source active and passive candidates. They usually prefer advertising channels, like social media sites, where millennials and other talents are mostly available.
6. Building a Stronger Employer Brand
ATS improves your overall recruitment process and creates a favorable brand impression on candidates. According to LinkedIn research, strong brands have the ability to attract 50% more qualified applicants in comparison to others. Thus, it increases your chance of attracting better applicants. Additionally, ATS ensures consistent and engaging communication, efficient resume screening, and personalized candidate experience.
7. Saves Recruitment Costs
One benefit of the ATS is to reduce your hiring costs. Firstly, they eliminate your need to hire external agencies for recruitment. Then, they help you make sound hiring decisions and thus reduce the cost of bad hires. Research says one bad hire can cost companies $14,900 on average. Therefore, by implementing ATS, not only do you improve hiring quality but also reduce unnecessary costs.
8. Ensure Data-Driven Decision-Making
You can get valuable data insights and analytics into your recruitment process and KPMs (Key Performance Metrics). Thus, ATS helps you develop or improve your existing strategies depending on the data. It also ensures you hire the best-fit candidates in the company.
Why Does Pitch N Hire Rank Among the Top Applicant Tracking System Software?
Pitch N Hire, unlike most other applicant tracking system software, is designed according to the latest trends and offers unmatched services to recruiters. We help you discover and recruit top talents with the power of cutting-edge ATS and CRM systems. You can effortlessly create, track, and manage job openings from our platform without switching between multiple applications.
Additionally, we help you create compelling job descriptions and list them on multiple channels, including ours. We then collect all new candidate resumes in our ATS. These resumes are screened individually to identify whether they match the job requirements. Only the best-matched candidates are taken forward to the next recruitment level, whereas most other applications are dropped in the ATS.
Additionally, we help you conduct pre-assessment tests and schedule selected candidate interviews. However, it's you who will finally decide which candidate(s) to hire.
Furthermore, we track key performance metrics and hiring data to help you improve the overall recruitment process. PNH helps you create beautiful and highly personalized branded career pages. Additionally, we ensure better recruitment pipeline management, as well as candidate management.
If you are ready to build your dream team, contact us today.
Final Thoughts
Applicant tracking system software is now a necessary tool for recruiters. It has streamlined the entire process, fastened the hiring timeline, and ensured you make sound decisions. However, with changing recruitment needs, you must keep track of the technology trends to cope with the competition.
Now that you know almost the basics of an ATS and its importance in your organization, it's high time to find the best ATS system in the market. Before you start hopping from one option to another, give us a try.
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