Without a doubt, effective utilization of Applicant Tracking Systems is a prerequisite for becoming a smart recruitment specialist. However, modern-day recruitment technology like Applicant Tracking System (ATS) is indeed a capital-intensive investment. In fact, pricing is one of the most essential factors that must be taken into consideration while determining which Applicant Tracking Software is most suited for your business. For this reason, it is extremely important to familiarize yourself with the different Applicant Tracking System pricing options before arriving at a decision. Moreover, some ATS vendors give an all-inclusive price for their software while there are others who have modular pricing options, where each module has a separate cost. In this article, we will expound on the various pricing models offered by ATS vendors to help you make the right selection.
Applicant Tracking System Pricing Models
- Pay Per Recruiter Applicant Tracking Software Pricing
- Pay Per Employee ATS Pricing
- Pay Per Module Applicant Tracking System Pricing
- Pay Per Vacancy ATS Pricing
- One-time payment for Applicant Tracking System
- Free Applicant Tracking System
Now that more and more companies are employing Applicant Tracking Systems, the ATS market is expected to witness huge growth by 2024. As far as the different ATS pricing models are concerned, the best option for your business may vary based on factors like the size of your company, growth rate, hiring needs, and so on. Therefore, you should always make the final selection on the basis of your business requirements. Having said that, let us take a quick look at the different pricing models for ATS, so that you can decide which one is the best for your organization.
Also Read: Top 10 Applicant Tracking System 2019
Pay Per Recruiter Applicant Tracking Software Pricing
Abbreviated as PPR, the most common ATS pricing model is pay per recruiter. Businesses have to pay a monthly fee based on the total number of recruiters and hiring managers who have access to the system. This pricing model is ideal for companies that usually retain the same number of recruiters and hiring managers. However, if there is any fluctuation in this number, the business may have to bear unpredictable monthly charges. In addition to this, this pricing model may also include a one-time fee for setting up and implementation of the system. With PPR, recruiters get full control to post job openings, view candidate information etc.
Pay Per Employee ATS Pricing
There are many applicant tracking solutions that charge on the basis of an organization’s size and the total number of employees working there. Similarly, in PPE, companies have to pay based on the total number of employees. This pricing model can work wonders for new startups and small businesses that have many recruiters and hiring managers.
Pay Per Module Applicant Tracking System Pricing
In this pricing model, there are multiple modules and each module has a separate cost. It is highly cost-effective as businesses only have to pay for the specific modules that they require. Nevertheless, it is very important to know that only unified HR solutions feature this model. Moreover, this pricing model is usually sold by vendors who also offer a fully integrated HRMS suite. Since such an ATS cannot be integrated with just any software, the customer is left with two options. He/she can either purchase the whole HRMS suite from the vendor or pay for individual modules. Therefore, this pricing model is an excellent choice for small and medium-sized businesses that do not have a big budget.
Pay Per Vacancy ATS Pricing
Another common ATS pricing model is pay per job opening, in which the charges are determined based on the total number of job openings a business has at any given point in time. This pricing model is considered highly affordable. Additionally, businesses with less hiring needs can reap great benefits from this model. The best thing about this pricing model is that the majority of the ATS vendors will not charge for inactive job applications that are stored in the system.
One-time payment for Applicant Tracking System
There are a lot of Applicant Tracking Systems that can be bought for a one-time flat fee. Unlike all the other pricing models, businesses that opt for this option do not have to pay charges on a monthly basis. Once a customer pays the one-time flat fee, the software is completely free to use and there are no additional charges. Nonetheless, this pricing model also has a major drawback. Although the customer has to make the payment only once, it is still very expensive and not every business can afford it.
Free Applicant Tracking Systems
Companies that cannot afford an Applicant Tracking System for their business requirements should select open-source software which is free of charge. Although this particular pricing model is free, you will have to pay for certain services of the software at some point in time.
There is no denying the fact that an ATS is a must-have for businesses looking to enhance the quality of hire. Owing to a large number of software vendors and the different types of pricing models available in the market, selecting the best Applicant Tracking System for your business is not a piece of cake. Also, some ATS vendors are completely transparent with their pricing details whereas others need to be contacted personally for a quote. So make sure you do your research well and pick out the most economical ATS solution for your business.