HR is going digital and the recruiters are taking full advantage of the technology at hand for maximizing their productivity and effectiveness. The existing breed of recruitment technology is advanced enough to take on any challenge and hurdle arising in your hiring process. However, since every HR technology vendor out there claims to have the best recruitment software, you should be aware of different aspects that will help you in choosing the right recruitment software for your needs.
However, before we even go deeper into making selection of recruitment software, let’s look at its functioning, benefits and features.
How Recruitment Software Works?
Ideal recruitment software should be a one stop sourcing and hiring solution. It should be the one place and the only place that recruiters should have to go to either post a job, view the applications received for a job, find the best matching profiles for the job without having to go through each profile, schedule the candidate’s interview and come up with a subsequent offer. While it might seem too good to be true, there are recruitment software in the market, which currently not only offer the above explained functionalities but are backed by latest machine algorithms, artificial intelligence and a cloud based database. Such recruitment software use semantic search and Natural language processing to match the recruiter query with the resume content and return the best match for an open vacancy.
There are mainly six components to an enterprise level recruiting software:
- A Centralized job posting platform that is integrated with company careers website, different social media platforms like LinkedIn and other job boards so that the recruiter doesn’t have to post the same job separately.
- Talent Sourcing: A Cloud based CV Database which is used for sourcing CVs from candidates, vendors and from various social media channels like LinkedIn.
- Resume Parser: A CV Parser that analyses the CVs, identifies the various elements, extracts the data and classifies it in different sections such as Skills, Location, Experience, Salary and others.
- Applicant Management: A resume screener that quickly goes through thousands of CV and returns the best match for any required skill and experience
- Analytics: A reporting and analytics module that maintains the record of various recruiter activities and other statistics related to candidates, and hiring
- Post-Hire Management: Candidate onboarding, performance management and employee retention is handled by this module
Recruitment Software Benefits
There is not an iota of doubt in the immense advantages that recruitment software brings to the table. Here are the top 5 benefits that you can expect:
- Benefits of recruitment software in recruitment efficiency
- Benefits of recruitment management software in quality of hire
- Advantages of recruitment software in employer branding
- Recruiting software benefit in talent acquisition
Benefits of recruitment software in recruitment efficiency
Any technology, however small, invariably ends up improving the productivity and efficiency of the process where it is applied. Recruitment software, through automation, increases recruiting efficiency.
Benefits of recruitment management software in quality of hire
Companies using recruiting software are able to improve the quality of talent they hire. This is because, like humans, machines does not discriminate, is not biased, and does not suffer from any fatigue, hence performs no errors. Besides, the recruitment software generates data which can be analyzed intelligently to support the decision making power of recruiters.
Advantages of recruitment software in employer branding
We have always maintained that technology is one of the most important enabler of brand value as an employer. Top talent doesn’t remain available for hiring forever. If you want to attract the best talent towards your company you will need the help of technology to make your brand appear enticing enough. Recruiting software can help you do that by improving the candidate experience (through short response time and automatic mail notifications on selection or rejection, and simplifying the application process).
Recruiting software benefit in talent acquisition
With a recruitment software not only do you improve your day to day recruiting quality, but also have time for creating and executing a well-crafted talent acquisition strategy to improve your business leadership. The future of your company relies on how able are the shoulders that carry its weight. As a recruiter, or talent acquisition specialist it’s your primary responsibility to find such future leaders.
Recruitment Software Features
In order to extract maximum value out of your purchase of recruitment software, you should know what all features are important for you.
Here are some vital features that your recruitment software should have:
- Intelligent search and matching algorithm is a key feature of recruitment software
- Requisition & Interview management are main characteristics of recruitment software
- CV import from multiple sources is a key recruitment management system feature
- Recruitment solution should be Cloud based
- Job distribution should be a recruitment management system feature
- Key recruiting software feature is API integration
- Main component of recruitment software is Reporting & Analytics
- Recruitment management system should have Collaboration feature
- Key feature of recruitment software is Customization
- Main characteristic of recruitment software is Customer support
Intelligent search and matching algorithm is a key feature of recruitment software
A new age recruitment software should take the help of artificial intelligence and machine learning to devise algorithm that identify the best match from the database of CVs for a role.
(Also Read: Benefits of using Semantic Search in Recruiting)
Requisition & Interview management are main characteristics of recruitment software
The recruitment software should have a robust and extensive requisition management module that takes care of requirement creation at various levels and for different groups/departments. With an interview management module at place recruiters can schedule interviews, provide feedback, approve or reject a candidate and place an offer.
CV import from multiple sources is a key recruitment management system feature
In order to execute talent sourcing efficiently recruiter’s personalized CV database is essential. For the same, the recruitment software should provide options to upload CVs, import from social media channels like LinkedIn, bulk uploading, and importing in excel formats.
Recruitment solution should be Cloud based
Gone is the time of legacy Applicant Tracking Systems that took ages to deploy and required multiple resources for maintenance and updates. Now cloud based recruitment software have taken their place and how!
Job distribution should be a recruitment management system feature
A recruiter should be able to post his job on multiple job posting platforms and channels through a centralized interface in the recruitment software. The whole point of having a one stop recruiting solution is that the HR doesn’t have to waste time and efforts in posting same jobs on different channels separately.
Key recruiting software feature is API integration
Main component of recruitment software is Reporting & Analytics
How will you measure the success or failure of your recruiting campaign? How will you justify the Return on Investment of deploying the recruitment solution? How can you determine the productivity of your recruitment team? You need an extensive reporting and analytics section for all of these that can provide you with all the data you will ever need.
Recruitment management system should have Collaboration feature
Very rarely does a recruiter work solo. In most organizations, there are teams that handle recruitment of various departments like IT, Finance, Marketing, and these teams work together with Hiring managers, and department heads or managers. Your recruitment software should enable a seamless collaboration through timely communication with all stakeholders.
Key feature of recruitment software is Customization
What if you want a new feature added to the solution which is important specifically for your company? Does the vendor support personalization? Will the vendor be willing to customize or tweak a certain feature to suit your organizational goals and requirement?
Main characteristic of recruitment software is Customer support
Onboarding and customer support is like a sail in a wind boat which guides the boat into the wind or against the wind keeping it on the right course. Make sure to buy a solution that has the support of a well-trained and robust customer support.
(Also Read: How to Get Most Out of Recruitment Software?)