Many countries worldwide are experiencing a shortage of workers. Small businesses and the tech industry seem to be the worst hit with this problem. So, if you think finding the right talents for your company is a walk in the park, think again.
There are many reasons for the increasing rate of talent shortage in the country. As you may have already guessed, the pandemic is a major culprit. However, many stakeholders in the employment industry maintain that the problem started pre-COVID.
From low wages to immigration limits, high quit rates, early retirement, inadequate skills, etc., there are many reasons for talent shortage. So, while there are numerous job vacancies and applications, there are also fewer interview turnouts and fewer qualified applicants.
As a business owner or company administrator, the question remains, “how do I overcome this challenge?”.
The answer is with Applicant Tracking Systems (ATS). With this technology, finding and hiring the right talent is easier than usual. ATS will source the best talents for your business and ensure that you sift through the bulk of applications quickly.
This article will summarize all you need to know about hiring and retaining the best talents using a ATS. Here’s a more comprehensive guide to applicant tracking systems.
What is an Applicant Tracking System (ATS)?
An Applicant Tracking System is a software application that streamlines the recruitment processes to find the best candidates faster. It uses automation technology in handling various recruitment processes according to the recruiter’s needs to achieve better results more efficiently.
In summary, ATS simplifies hiring candidates from start to finish. This system is similar to CRM systems that organize sales processes. However, here, applicants are the customers.
Here are some specific functions that ATS carries out:
1. Candidate sourcing
One of the most important ATS functions is sourcing the right prospects to fill your vacant position. An applicant tracking system will organize pages and forms and advertise job vacancies with personalized job descriptions.
2. Candidate management
After sourcing applicants, ATS creates a system that organizes their applications efficiently. It manages candidates’ applications by compiling them and attaching schedules to them. It also attaches relevant information to each applicant’s profile for easy sorting.
3. Evaluation and selection of candidates
The applicant tracking system handles the pre-screening and screening of prospects. It manages various aspects of the recruiting process and helps to filter ineligible applications.
4. Personal data management
ATS stores and categorizes candidates’ personal data. It retains the information of unselected applicants if there’s a need for them in the future. The applicant tracking system works by first dividing resumes into sections.
Then, it scans them for specific keywords or pre-selected qualifiers that determine eligibility for the position.
After the scan, it removes ineligible applications and passes the qualified ones to the employer. That way, employers will only access applications from the best-qualified candidates seamlessly.
What are the advantages of using ATS?
There are many reasons why ATS has become an essential part of most company’s recruitment processes. They include the following:
1 . Improved quality of hire
ATS ensures that you hire the best available hands for the vacancy you’re filling. Due to ATS automation technology, employers now have enough time to scrutinize applications before making a hiring decision.
2. Enhanced candidate experience
An applicant tracking system also benefits the candidate in numerous ways. They wouldn’t have to wait too long for feedback on their application. Candidates are also sure of a fair recruitment process free of favoritism or discrimination.
3. Time-efficiency
One of the most glaring advantages of ATS is its ability to sort applications quickly. This enables recruiters to hire candidates faster than usual.
4. Cost-efficiency
Applicant Tracking Systems reduce the overall costs of recruiting new employees. For example, with ATS, company administrators no longer have to pay any fees to recruitment agencies.
5. Facilitates collaborative hiring
Collaborative hiring has many benefits. It helps in hiring cultural fits, improves employee retention rates, and reduces the recruiter’s burden. ATS provides systems that enable collaborative hiring.
6. Decreased workload
ATSs perform the most tedious parts of an employer’s job as it relates to the recruitment process. That way, the recruiters are less stressed and have more time to perform other essential tasks.
How can I use ATS to hire and retain the best talent?
ATS will help you to retain the best applicants for your job vacancy through these means:
1. An attractive career website
Just like you’re careful about hiring the best employees, the best candidates are particular about the companies they apply to. They’re goal-oriented and would love to work in places that help them achieve their full potential.
As such, to lure them, you must prove that your company provides the ideal environment for them to work in. One way to do this is by branding your career website with an ATS solution. ATS can develop creative ways to showcase your company’s top-notch work ethics, values through job descriptions and branded websites.
One efficient tip to improve your branding and reputation is to introduce corporate giving programs through which you can match donations with Alaya. Then, you can use ATS to showcase that aspect of your company culture and attract the best hires.
2. Adequate visibility
What if you’ve successfully branded your career website, but the best candidates don’t get to see them? You’ll have only wasted your time and energy. Fortunately, that doesn’t happen with an applicant tracking system.
ATSs helps recruiters post job ads to various job boards like Indeed and