Written by Holly Watson | February 14, 2018
When considering using an applicant tracking system (ATS), the concept of saving money doesn’t usually spring to mind.
Purchasing an ATS is often seen as an expense when, in reality, it should be seen as an investment. It might be tough to recognise the ROI that recruitment software can bring but pretty much every feature within a standard applicant tracking system is designed to save you money and time, and make the recruitment process that little bit easier for both you and your candidates.
Recruitment software has a reputation for being expensive, so first of all, let’s de-bunk the myth; it doesn’t need to cost the world. There’s a huge range of software on the market to choose from; Webrecruit’s offering, Fusion Plus, for example, is priced competitively with access for an unlimited number of HR users and hiring managers, with no implementation fee.
Once you factor in the cost-savings that an ATS can deliver, you might find that not only does your system end up paying for itself but you’ll probably be financially better off in the long-term.
But how can your ATS save you money, exactly?
1. Cut your advertising costs through effective reporting
How much are you currently spending on your recruitment advertising? We regularly speak with companies who are spending thousands of pounds every month on advertising that isn’t actually delivering them with the candidates they need.
Applicant tracking systems contain in-built reporting functionality that allows you to identify which advertising platforms are working for your business and which aren’t. The source of each candidate is tracked, enabling you to report on what job boards are delivering you with the highest number of shortlisted, interviewed and hired candidates.
This is a great way of auditing your recruitment advertising mix and will help you make more informed decisions about where to spend your money.
2. Drive direct hiring through talent pools and an improved candidate experience
Are you outsourcing a large chunk of your recruitment to agencies? An ATS allows you to take more control of your hiring and reduces your reliance on external parties by giving you all the tools you need to manage your own recruitment. This could potentially save you thousands of pounds every month in recruitment agency fees.
By using an ATS, you can build talent pools of candidates who have registered their details with you or previously applied for a role with your business. This allows you to quickly find candidates who meet the criteria you’re looking for, saving you time (and money).
An ATS also helps to provide a better experience for candidates. Many businesses choose to outsource their recruitment to agencies because they don’t have the time to provide the candidate experience they want to.
Recruitment software can generate automatic emails to candidates to keep them updated on the progress of their application as they move through each stage of the recruitment process. It also makes interview invitations easier for candidates to accept and ensures that they’re provided with all the details they’ll need.
3. More productive recruiting through streamlined processes
How much time and money do you currently waste on administration? Entering details on to spreadsheets, locating candidates’ details in your inbox and circulating CVs to hiring managers can take up a large amount of time that you could spend doing other more important aspects of your job, like sourcing and screening great candidates.
An ATS takes these tasks away from you by automating them, allowing you to work more productively, saving you time and money.
Want to see how an applicant tracking system can benefit your business? Book a demo today or contact our team on 01392 823 137.