Digital hiring tools are changing the recruitment industry.
February 22, 2019
Regardless of industry or the size of the business, quality recruiting is essential to a company’s success. With a team of skilled and engaged employees, an organization can weather any storms the economy throws at it, outpace the competition and continually find new ways to grow and thrive.
But the unfortunate reality is that recruiting and hiring can be a time-consuming, expensive and often an incredibly discouraging process. Thankfully, recruitment software exists to minimize the time waste on this process by streamlining recruiting, hiring, onboarding and ongoing talent management.
The challenges of recruiting the “old-fashioned” way
According to a report compiled by the Society of Human Resources Management, the price of recruiting and hiring is on the rise. From 2015 to 2016, the average cost of hiring a new employee increased by 7 percent to $4,425. Moreover, the process of adding a new employee to an existing workforce takes, on average, 36 days.
Worse of all, even with all the time and money organizations invest in this process, recruiting is still a hit-or-miss undertaking. As noted by the SHRM, the quality of hire rate for most companies is 26 percent, and the rate of new employee separation within one year also stands at 26 percent. Though these statistics seem bleak, a quality hiring software solution can be extremely helpful at addressing both of those issues.
In fact, this solution is so effective that 94 percent of human capital managers and recruiters reported that using an applicant tracking system has improved their hiring efforts – helping them make strides to shift the generally bleak statistic of turnover and quality rate.
How recruitment software makes the hiring process more efficient
One of the most powerful features of recruitment software is its ability to help organizations generate lists of qualified and talented candidates. For instance, a quality hiring software solution allows employers to post about their open positions on all the top job boards and social media sites. By automating this part of the process, HR personnel and management don’t have to waste time crafting individual postings for a slew of different platforms.
A recruitment software solution also gives organizations the ability to screen out the glut of unqualified applicants that apply to 80 percent of job postings. This is because it gives businesses the ability to create customized questions that will automatically weed out all the job seekers who don’t need its hiring criteria instead of tasking staff with the manually discarding applications that don’t align with the organization’s needs.
Similarly, digital hiring platforms protect companies by standardizing hiring questions and non-selection responses in accordance with legal requirements. Consequently, the software-enhanced hiring process is not only faster than the traditional method, but a smart choice for companies that wish to avoid unnecessary and costly litigation.
Additionally, applicant tracking software gives hiring teams the ability to collaborate on candidate selection. Recruiters, hiring managers and other personnel can securely review an applicant’s qualifications, work history and screening answers throughout the hiring and onboarding process within the same dashboard. Users can also schedule interviews, set automatic email reminders and share notes. With that improved level of structure, businesses can reduce the number of finalist interviews they conduct before making an employment offer, therefore reducing time spent on the interviewing process.
A digital hiring solution can also be helpful for expediting the process of vetting promising candidates. Users can perform background checks on potential hires and determine their eligibility for employment and the Work Opportunity Tax Credit (WOTC) with the dashboard, reducing the time between final candidate selection and onboarding.
Why you should use JetPay’s hiring software
No matter what industry your company operates in or its size, JetPay’s hiring software is the ideal solution for your recruitment and hiring needs. Our software comes with a robust set of applications that can simplify and expedite the hiring process, including:
- Enterprise applicant tracking software
- Background check, E-Verification, drug screening and WOTC processing
- Unlimited secure document storage
- Recruitment trend analysis
- ADA and EEOC compliant job description assistance
- Recruitment and interview strategy guidance
As a full-service human capital management provider, JetPay also offers a range of HCM software that streamlines your company’s talent acquisition, new hire onboarding and regulatory compliance requirements. Our services include:
- Electronic onboarding
- Online training and development courses
- Job cost and labor allocation reporting
- ACA tracking and reporting
- Retention and turnover analysis
- Federal, state and local tax filing
- EEOC and DOL coaching
- Scheduling and PTO request processing
- Automated open enrollment filing
- Tardy and missed punch alerts
- Employee crisis management
- OSHA reporting
- HR compliance auditing
- Performance evaluation software
Whether your company is a lean startup, a growing midsize business or a large enterprise, JetPay has the tools, experience and white glove concierge service necessary to help your organization realize its full potential. Contact us today to discover what we can do for you.
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