Industry Research: Why You Should Use an Applicant Tracking System
Posted on 12-22-2021, Read Time: Min
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For many companies, applying for a job is not just sending an email, but rather the induction into a complete experience.
Among the tools of the trade for this experience are applicant tracking systems (ATS), or software for HR recruiters and employers to track candidates through the recruitment and hiring process. Applicant tracking platforms are built for businesses of all sizes and solve many different use cases for business growth.
You cannot merely implement an applicant tracking system and hope to create a positive company experience. You must customize and adjust to your needs as your business evolves.
What Is an Applicant Tracking System?
Attracting top talent is a priority for top organizations, and the right technology can help in the process of recruiting, onboarding, and retaining qualified candidates. Applicant tracking systems can often solve these challenges, existing as either a database or more complex software as a part of a broader human capital management (HCM) suite of software.
Some benefits of an applicant tracking system for HR organizations include:
Some benefits of an applicant tracking system for HR organizations include:
- Sourcing and attracting qualified candidates: An applicant tracking system addresses the challenge of reaching strong candidates by casting a wide net in the marketplace. As applicants apply for open roles, the system can also build a profile of the ideal candidate, their skills, and predict success factors—sometimes with the help of artificial intelligence.
- Improve efficiency and lower costs: Hiring new workers can be costly, especially if the HR organization is hampered by manual and inefficient processes. An applicant tracking system mitigates cost and reduces risk by accelerating time-to-hire, automating tasks, and creating visibility into the hiring cycle for recruiting and finance teams. It’s a win-win for everyone involved.
- Write stronger job descriptions: A job description communicates everything a company and a particular role needs to be successful. Traditionally, recruiters and hiring managers needed to work together to develop these, which wouldn’t always yield the maximum candidate pool. Applicant tracking systems, on the other hand, provide keyword-rich templates that attract the desired attention at the right time and place where candidates are looking.
- Remain competitive: Among Fortune 500 companies, 99% of them use an applicant tracking system in their hiring process. Wherever your company is in its journey, an applicant tracking system can level the playing field by creating better, quicker access to quality candidates.
What Are the Benefits of an Applicant Tracking System for Candidates?
As candidates speak to multiple companies, a hiring experience can serve as a key differentiator. This is especially true during a hot job market when speed is of the essence.
According to surveys, applicant tracking systems have proven to be successful, helping 86% of recruiters hire their next candidate faster. Applicant tracking systems fill gaps that would otherwise cause applicants to seek other opportunities, including providing auto-fill applications, continuous updates on hiring status, and a steady flow of candidate communications.
Applicant tracking systems also provide post-hire support, helping candidates hit the ground running as soon as they sign their offer letter. Onboarding processes such as submitting tax forms and key employee data ensure productivity can start as soon as the first day of work.
According to surveys, applicant tracking systems have proven to be successful, helping 86% of recruiters hire their next candidate faster. Applicant tracking systems fill gaps that would otherwise cause applicants to seek other opportunities, including providing auto-fill applications, continuous updates on hiring status, and a steady flow of candidate communications.
Applicant tracking systems also provide post-hire support, helping candidates hit the ground running as soon as they sign their offer letter. Onboarding processes such as submitting tax forms and key employee data ensure productivity can start as soon as the first day of work.
How Applicant Tracking Systems Are Evolving
Like many technologies, applicant tracking systems continue to evolve to match the pace of change and demand in the workforce. In particular, such systems must match the consumer-grade experiences that job seekers have become accustomed to on e-commerce platforms, engaging with friends on social media, or consuming entertainment.
As a result, modern applicant tracking systems now integrate mobile-first, user-friendly interfaces on the front-end that provide an easy-to-use interface that job seekers can engage with from their smartphone or tablet. Added connectivity to social networks further provides a method to connect with passive candidates.
On the backend, applicant tracking systems are now cloud-based, fully integrating with cloud platforms and include artificial intelligence, machine learning, and data analytics to drive data-driven decision-making. Such infrastructure also provides an opportunity to finely tune the workforce, including achieving diversity and inclusion initiatives.
As a result, modern applicant tracking systems now integrate mobile-first, user-friendly interfaces on the front-end that provide an easy-to-use interface that job seekers can engage with from their smartphone or tablet. Added connectivity to social networks further provides a method to connect with passive candidates.
On the backend, applicant tracking systems are now cloud-based, fully integrating with cloud platforms and include artificial intelligence, machine learning, and data analytics to drive data-driven decision-making. Such infrastructure also provides an opportunity to finely tune the workforce, including achieving diversity and inclusion initiatives.
Learn How You Can Benefit from an Applicant Tracking System
An applicant tracking system is the start of your organization’s commitment to developing a better hiring experience, from recruitment to onboarding. With the emergence of new technologies available to help improve processes and enable data-driven decisions, the future workforce can be yours today.
If you’re interested in learning more about applicant tracking systems, how to select one, or how Oracle can assist in your journey, visit our website today.
If you’re interested in learning more about applicant tracking systems, how to select one, or how Oracle can assist in your journey, visit our website today.
Author Bio
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Albert Qian, a Content Writer for Oracle Cloud HCM, is passionate about HR software and the effects that it has on modern and innovative organizations. Visit www.oracle.com Connect Albert Qian |
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