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Mon Dec 04 2023

5 min read

Top Talent Tracking System for Talent Management

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A talent tracking system, mostly known as Applicant Tracking System, is essential for businesses to streamline their recruitment process and attract the best talent in the industry. They can automate the recruitment process, reduce errors, and save time and resources for recruiters. The key features of such systems include scheduling interviews, advanced search, candidate sourcing, real-time collaboration, resume parsing, and more. They bring a list of advantages to the recruitment process of an organization, as mentioned in this blog.

The fate of your business success rests in the recruiters' hands as they are the ones responsible for talent tracking. Recruiting talents begins with job advertisements and gathering resumes. Then, the recruiter needs to sort candidates, arrange interviews, and make an offer. Once a candidate accepts the offer, the recruitment process ends.

However easy the process seems to be, the major hurdle remains in time consumption. The more time you take in the hiring process, the lesser your chances are to keep talents engaged with your company. As technology advances and the challenge of finding skilled individuals grows, the traditional hiring process becomes outdated. To elevate the complexities of recruitment, you can use a talent tracking system, such as ATS (Applicant Tracking System).

This guide will explore the importance of decreasing recruitment time, hiring top-notch talent, and utilizing a talent tracking system

Revealing the Secrets of Talent Tracking System 

Nearly 77% of talent leaders in 2023 believe implementing talent acquisition strategies in organizations is about building a company's value rather than achieving cost savings. With rapid digital transformation and technological advancements, the HR industry adjusts accordingly. Recruiters now need to use modern tools for employee talent management. 

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Gone are the days of traditional hiring methods that involved manual hiring. With the integration of technology in every industry, talent management organizations can automate their recruitment processes. It means you can use a talent tracking system and other modern tools for recruitment. 

Most often, we use an applicant tracking system for that purpose. It transforms and automates manual hiring processes, reduces errors, and saves substantial time for recruiters. Additionally, such systems facilitate good communication between recruiters and hiring teams. Furthermore, they give access to real-time job information and deliver actionable reports. 

This isn't the end; we will share a list of benefits of ATS later in the blog. 

Did you know? Oracle’s research shows that recruitment software has improved hiring time for 86% of recruiters. Additionally, 78% of recruiters report an improvement in the quality of candidates they hire due to using this technology.

Key features of a good talent tracking system

The key features of talent tracking software include:

  • Scheduling interviews
  • Offering well-defined email templates
  • Allows advanced search 
  • Efficient candidate sourcing
  • Real-time collaboration
  • Multi-channel candidate sourcing
  • Advanced analytics and reporting
  • Resume parsing
  • Multiple integrations

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How Does the Talent Tracking System Work?

Many software companies specializing in talent management use an ATS (Applicant Tracking System) to screen potential candidates. The ATS is also used to track the progress of those candidates as they move through the hiring process. Now the question is how the talent tracking software works for any ordinary company. Let's check out the 4 essential steps to how such systems work:

  • Firstly, you submit a job requisition to the ATS. Details about the job role, including job title, skills, qualifications, and experience, are required when making a requisition.
  • Now, the system uses the data to create an ideal candidate profile.
  • Then, it matches all the submitted resumes with the ideal profile and sorts and ranks them accordingly.
  • Finally, it lets the HR or recruiter easily identify the best talents from the top few candidates in the talent tracking system. 

Why Companies Should Use a Talent Acquisition Management Software

The software for managing talent acquisition is a central location for most hiring actions. It enhances the efficiency of your recruitment process and ensures legal compliance. Furthermore, it allows employers to filter the most qualified candidates in the talent pool. This increases your opportunity to hire the best people in your organization. 

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Listed below are a few benefits of using such tools in companies.

Reduced Administrative Duties

Mainly, companies use technology to reduce administrative duties. This entails publishing job openings across various platforms, evaluating applicants' resumes, arranging interview schedules, and handling other related tasks. At this point, they focus on the quality of candidates, not the hiring process. 

Remember: Choosing the best candidates in your organization improves overall business productivity.

Creates Positive Candidate Experience

An AI-powered talent tracking software has the potential to streamline the hiring process. It can automate talent sourcing, candidate screening, interview scheduling, and onboarding processes. Thus, they ensure positive candidate experience and high-quality recruitment.

Improves the Quality of Hires

As mentioned above, the talent tracking system streamlines a lot of recruiters' tasks. They either completely do them or make them easy for the recruiter. 

Additionally, the system can parse, sort, and rank the candidates according to their similarity with the ideal candidate profile. It means you only need to focus on selecting the best from the shortlisted candidates. 

Ensures Compliance

Experts have designed talent-tracking software to assist companies in maintaining compliance during their hiring process. It structures your hiring approach by following the set rules and regulations and forbids discrimination against any candidate. 

Thus, using such tools can save you from lawsuits and penalties. They ensure you don't create a negative company image, which can deteriorate business rapport.

Makes Job Posting Easy

Any talent tracking system can help recruiters to post a job advertisement on multiple platforms with one click. It means you don't need to post them individually on different platforms, thus saving time from unnecessary tasks. 

Additionally, they help you customize your career page, making job seekers engage more with your company and its work culture.

Improved Collaboration

When it comes to hiring, it's not a job that can be done alone. Instead, it involves multiple team members responsible for screening, interviewing, and performing other tasks to ensure the best results. Talent tracking tools are helpful because they allow the team to leave comments at every stage of the hiring process. Therefore, it enables others to view and discuss the process for better outcomes, in turn improving collaboration.

Easy Integration

An effective talent tracking tool should allow for seamless integration with other platforms, such as HRIS and video interviewing platforms; they streamline the hiring process together.

For instance, if your best ATS software is integrated with HR software, it becomes easy to import details of the hired candidate to the employee database. This saves time that would have been spent manually filling the database.

Improves Inter-Departmental Communication 

Such systems allow recruiters and others in the hiring process to communicate with each other. Thus it eliminates any complication due to poor communication throughout the employment process. 

Additionally, they allow delivering messages to numerous recipients at once and distributing duties according to a determined schedule. Hence, it helps eliminate any misunderstanding among workers, allowing everyone to participate equally in company activities.

Signs You Need a Talent Tracking System

Although this may be true that your existing system is working well, it might be using up your time and resources unnecessarily. At this point, using a modern recruitment tool can be helpful. 

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Here are a few signs that show you are ready to invest in a talent-tracking system:

  • No place to store candidate contact information
  • Using multiple applications while working on the recruitment process
  • Received feedback that your current application process is not ideal
  • Manually inserting new hire data into the HR system
  • Losing track of candidate profiles
  • Struggling with the management of feedback from team members on candidates
  • Communicating with candidates getting difficult with tons of data
  • No record of what is good or bad about your hiring process

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Final words

Today, organizations have a significant opportunity to improve their overall performance by reducing complexity and simplifying work with technology. One such is using a talent tracking system in the recruitment process. It not only streamlines the entire process but also frees up your time for crucial hiring duties. Additionally, you save resources and improve the hiring process. 

We believe this guide will give you an overview of how vital such talent-tracking tools are for your company. However, we suggest you carefully choose the best talent management software companies for your business for better outcomes. When in doubt, trust Pitch N Hire with your digitized recruitment needs. We do the same.

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