Written by Holly Watson | June 9, 2015
Are you struggling to keep on top of your recruitment activities? Do you find that you’re drowning in paperwork and spreadsheets?
If so, it might be time to consider investing in an applicant tracking system.
An applicant tracking system (also known as an ATS) is a specific type of recruitment software that can be used to manage and nurture talent within the end-to-end application process. It can deliver a wide range of benefits to your hiring and recruitment activities.
One of the most valuable features that an ATS can bring to your HR department is the ease of reporting. Reporting provides you with key data and insight to allow you to make informed decisions regarding your recruitment advertising and candidate attraction strategies.
So, if you’re taking your first step towards bringing recruitment in-house, a basic (but easily scalable) ATS can really help you to achieve your goals.
Want to learn more about the main benefits of reporting? Webrecruit takes a look at the main advantages of integrating an applicant tracking system with your recruitment activities.
1. Monitor Your Progress
If you’re just starting to look at your ATS options, chances are that you don’t currently have a way of monitoring exactly how efficient and effective your recruitment activities are.
When introducing a direct sourcing function into their business, many employers have the goal of reducing their cost per hire or their total time to hire (or both). Reporting is a brilliant way of calculating and monitoring these key metrics.
For example, an ATS allows you to produce reports showing your applications by date, so that when you do hire someone, you’re able to note the length of time between their initial application and start date.
You can log your time to hire for each vacancy and take an average at specific milestones (three months, six months, a year etc.) to see how you have progressed.
2. Streamline Your Recruitment Efforts
An applicant tracking system will enable you to see exactly where your applications are coming from by producing an ‘application by source’ report.
This report will tell you exactly how many applications you’ve received from a specific advertising source. This includes job boards, LinkedIn and any other recruitment advertising platforms.
By analysing this information, you’re able to see the advertising sources that are delivering quality applications and those that are underperforming.
This will allow you to focus more on the sources that are generating the highest volume and most suitable applications, enabling you to save money and reduce your cost per hire.
3. Manage Your Vacancies More Effectively
An applicant tracking system will allow you to produce reports showing you whereabouts candidates are in the application process.
This means that if there are candidates yet to be reviewed for a certain vacancy, you’re made aware of this and able to assess their application quickly in order to maximise the candidate experience whilst reducing your time to hire.
Reporting can also make you aware of any incomplete applications and candidate drop-offs in the application process.
4. Develop an Understanding of Your Candidates and Their Behaviour
Producing reports such as ‘application by device’ and ‘application by date’ will allow you to gain a greater understanding of the behaviour of your candidates.
This will enable you to further develop your candidate attraction strategy and communications. For example, if you notice that a large percentage of your candidates are applying via a mobile device, it’s important to ensure that your website is mobile optimised.
The ‘application by date’ report will allow you to see exactly when candidates are applying for your vacancies.
Is the first week of the campaign the peak time for applications? What month of the year generates the most applications for you?
Thinking about questions such as these when analysing reports will allow you to plan for the future and manage your recruitment activities more effectively.
5. Reduce Your Overall Recruitment Cost
We’ve already touched on driving down your recruitment costs but an applicant tracking system will produce reports on how much money each application source is costing you for a particular vacancy. This will allow you to calculate the exact cost of each role that you’ve filled.
Reporting also allows you to monitor your agency costs, which is very helpful if your goal is to bring recruitment entirely in-house.
Interested in learning more about Webrecruit’s applicant tracking systems and recruitment software? Find out more.