Which Factors Should Determine Recruiting Software Pricing?
Laborious manual hiring tasks like sorting through huge piles of resumes, contacting candidates for setting up interviews and onboarding new employees can turn out to be extremely burdensome for the majority of HR professionals. Apart from leading to the wastage of recruiters’ precious time and money, manual talent acquisition activities can drain them of their energy, thereby paving the way for loss of overall workplace productivity. The excessive workload can divert the attention of human resources personnel from important business activities that need to be dealt with at the earliest. With the recruitment software market flourishing globally, adopting new-age technological solutions has now become necessary for organizations that are looking to source talented and skillful candidates for filling vacant job posts within the department.
In this guide, we shall discuss the vital factors that should be taken into consideration for determining the recruiting software pricing so that you can instantly make the correct choice and get the maximum value for your money without hassle.
Factors that should determine the Recruiting Software Pricing
- Pricing Model of the Recruiting Software
- Type of hosting solution used will affect recruiting software pricing
- Setup and installation fees will determine the pricing of recruiting software
- Features will impact the recruiting software pricing
- Training Costs will affect the final recruitment software pricing
- Customer Support will impact the recruiting software pricing
Pricing Model of the Recruiting Software
The pricing structure of the software will help you figure out the cost that you have will have to bear. The overall pricing for the recruiting solution can be based on the total number of employees, new hires, vacant job positions etc., in your company. Hence, you should consider your organization’s size, requirements, and goals to select the most appropriate software pricing structure.
Also Read: The Top 10 Recruitment Software 2019
Type of hosting solution used will affect recruiting software pricing
When it comes to buying a recruitment software for your business’ hiring needs, selecting the right type of hosting solution is of utmost importance. You can either choose an on-premise recruiting solution or pick out a cloud-based software based on your company requirements. If you want the solution to be installed on your business’s local server, you can very well go for an on-premise software. Although this will give you more control over the recruitment system, you must also have a well-established IT department to facilitate the maintenance of the same whenever the need arises. On the other hand, a cloud-based recruitment software is hosted on the web and you can access the system from any location provided that you have a stable internet connection. Since a cloud-based solution is generally hosted on the software provider’s server, you do not need the assistance of IT professionals to maintain it.
Setup and installation fees will determine the pricing of recruiting software
When you purchase a recruitment software for your business, you initially need the assistance of your vendor to get it installed and implemented. Your software provider must collaborate with your business team to ensure that the software is installed as per your requirements. For setting up the software, you need to pay an installation fee which is fixed by the vendor. Moreover, it is important to note that the overall setup and installation charges vary from provider to provider.
Features will impact the recruiting software pricing
The recruitment software that you purchase should come loaded with all the essential features requisite for enhancing the talent acquisition process. These usually include job board integration, interview scheduler, remote access, candidate management tools, resume scanner etc. The software pricing of the recruitment solution can be significantly influenced based on the number of additional features you include in your package.
Training Costs will affect the final recruitment software pricing
There is no doubt that you need to provide your employees with proper training while the solution is being integrated into your business. This will ensure that your teams do not face any hardships while using the software for different recruiting tasks. Your recruitment software provider will charge a fee for providing your staff with the necessary training and advice so that they can efficiently utilize the solution to the best of their advantage.
Also Read: How Much Do Applicant Tracking System Cost?
Customer Support will impact the recruiting software pricing
Most human resources professionals concur to the fact that ongoing customer support services for recruitment solutions are of paramount importance. No matter how skilled a recruiter is, he/she is definitely bound to face difficulties with the software at some point in time. This is where ongoing technical support can come in handy for solving the queries of your HR managers. Therefore, you will have to pay for the customer support services that you may avail in the near future.
A new-age recruitment software can work wonders for assisting HR managers in making effective use of data-driven insights, matching prospective candidates to the right jobs, and importing applicant-related information from multiple sources at the same time. But just like it is essential to indulge in some careful and extensive research before opting for a hiring solution, considering the factors that affect the cost of the software is equally important for the modern breed of HR professionals. Keeping everything else aside, companies should always come up with a viable budget before considering the different offerings recruitment software vendors to find the most apt solution that best meets their hiring requirements in the most efficient way possible.
Taking into account the rising number of companies implementing talent acquisition solutions in their business for increasing the overall hiring speed, it would be right to say that the latest technology is constantly bringing notable changes in the modern-day recruitment process. Without a doubt, it is extremely difficult to select the right hiring software for your company without knowing the various hidden costs and other additional charges associated with the same. Moreover, another crucial point to keep in mind is that the software solution you select should be capable of delivering an excellent return on investment (ROI) while adequately meeting your company’s needs. So, make certain that you do an in-depth analysis to understand your business model before investing in a recruitment software that will enhance talent acquisition efficiency and help your organization attain exceptional hiring results.