Job search and recruitment are no longer the way they used to be. With the world trying to keep pace with the changing times and rapidly progressing technology, a recruiting company now needs to depend on more than just databases. Recruitment related studies have shown that filling a vacant job position takes about 1.5 months on an average, with small businesses spending around $1,872 to complete this process. Therefore, application tracking or recruitment software has now become the most helpful tool for recruiters to reduce their hiring costs and improve quality of hire.
Recruitment software helps systematize the entire hiring process by ensuring they find a suitable match faster than usual through end-to-end automation of their recruitment process. An applicant tracking software embedded within a recruitment software automatically filters applications based on pre-defined criteria so that the best talent is identified and shortlisted within a shorter time cycle.
A Recruitment Management System or RMS combines ATS with the best recruiting software in the industry to help companies filter and shortlist the best applicants to choose from a talent pool that meets their requirements. So, whether you are a small, medium or big organization, if you need high-quality employees to meet the requirements of your business, you must find the best recruitment software that can ensure the best results.
If you are looking for ways to determine the top recruiting software for your organization, you need to ask some basic questions:
- Identify Recruiting Software Features You Need
- Find the type of recruiting software you need
- Find how much the recruiting software costs
- Search for Recruiting Software that Allows Integrations
When you try to finalize the best recruiting software, you need to identify the features that are going to be most beneficial for your company. The primary features that need careful consideration include:
- Automation of Tasks: The software should be able to automatically perform daily recruiter tasks one by one to ensure smoother recruitment.
- Job board Integration: The software should be able to post to multiple job boards so that the right people can be targeted for each job.
- Intelligent Resume Parsing: The software should be able to automatically analyze resumes and parse them into a central database
- Applicant Tracking: The software needs to be able to shortlist candidates from a talent pool as per the requirement of the company
- Candidate Management: The recruiting software should automatically be able to track and manage candidate profiles and communicate with them
- Onboarding: The software should be able to ensure a smooth onboarding of the employees who have been selected for employment
- Recruitment and Talent Analytics: The software should be able to constantly analyze your recruitment process and recruiter performance to suggest recommendations for performance enhancement
Also Read: What to Look For In Recruitment Software?
There are various types of recruiting software that you can choose from while selecting the software of your choice. These could be:
- Benefits Management Software: Focusing on benefits administration, compensation management and payroll)
- Recruitment Management Software: Focusing on applicant tracking and job boards
- Performance Management Software: Focusing on performance evaluation and analysis, feedback management, & rewards and recognition
- Training Management Software: Focusing on learning management, course authoring, and onboarding
- Talent Management Software: Focusing on talent management
- Workforce Management Software: Focusing on attendance, employee engagement, scheduling, time and expenses, and workforce management
Pricing also needs to be considered while selecting recruitment software for your company. Pricing models of recruiting software can be any one of the below:
- Pay-per-hiring manager – This is the most popular pricing model, where the payment is either one-time or monthly, based on how many users or recruiting managers there are registered on the software. This ranges from $50-$100 per user per month range to a one-time cost of $250-$1,000 per user.
- Pay-per-hire – This is less popular than the previous model and, in this method, payment is done only when an employee is hired. The price for this method ranges from $200-$500 per hire range for one-time.
- Pay-per-employee – If your company is a bigger one, this might be the method of your choice. This pricing depends on the total number of your employees to analyze requirements. The general pricing ranges from $4 – $8 per employee per month.
Recruiting software should be such that it can be integrated with your existing HR software and strengthen the search, management, and recruitment of the best workforce for your company. There are a number of software that need to be integrated so that the process of hiring can be conveniently completed without having to worry about other tasks at hand for a seamless process. Recruitment Management Systems offered by providers like Naukri can be easily integrated into your company’s HRMS so that job requirements are auto posted. The recruiting system also needs to be integrated with organizational communication tools, databases, and CRM to ensure the best results.
While you can choose the type according to the size of your organization, specific requirements and pricing plan, the best option would be to combine these types for the best interest of your company. Based on these criteria, you can choose the best recruiting software in the market to equip yourself with the best talent pool that can propel your organization to newer heights. The key is to choose tried and tested recruitment software that has proven credentials in the market and is guaranteed to deliver the results you’ve been looking for.