Nowadays, speed is everything: fast computers, fast service, and even fast talent acquisition. Businesses need their recruitment technologies to support their efforts to grow. Companies must have smarter resources to engage with the specific talent they need in order to grow. But the sobering reality is that recruiters spend most of their time finding resumes, entering relevant candidates into pipelines, and starting all over again. It’s a game where the team that scores highest is the one that manually finds, cuts, and pastes the most information into tracking systems. It’s inefficient grunt work that often leaves countless – let alone the best – candidates untouched. That’s why companies need solutions that allow them to connect with candidates more than ever before in order to thrive as a business. In fact, 94% of businesses think talent acquisition is critical to the organization’s ability to execute on its business strategy in 2015 and beyond.
These strategies must allow recruiters to engage quickly, beyond tools like job boards and ATSs that have been used since the 1990s. Sure, they’ve had deep, long runs. But top-performing companies demand more nowadays. They want more data and insights on sourcing, recruiting, and hiring overall. Best-in-Class companies are actually 21% more likely (47% vs. 39%) than All Others to prioritize updating their recruitment technology to be more contemporary, data-forward, and powerful. The truth is that ATSs are ripe for displacement and the overall usage is trending toward it too.
These technologies integrate data, analytics, and specific insights into every facet of the hiring process. These solutions increase efficiency and effectiveness while simultaneously interacting with the best possible candidates. They’re intelligent, automated, and fast. They have the power to move talent acquisition from grunt work into a strategic process. We’re talking about data-powered talent acquisition technologies beyond ATSs that, with the help of machines, automatically and continuously update candidate profiles, so recruiters can focus on what they do best: relationship building, communication, and finding and hiring the best talent for your company’s culture. Businesses need to be more strategic than ever about hiring, especially considering the amount of time it takes to actually find that perfect fit. Perhaps that means taking steps like Best-in-Class companies, who 2.4 times as likely as All Others (58% vs. 24%) to define quality of hire or creating success profiles for current employees to help make more informed hiring decisions.
Ultimately, businesses want to grow. Top-performing companies are especially interested in growing and are 2.7 times more likely than All Others (43% vs. 16%) to increase their hiring by more than 20% in the coming year. HR needs technologies that will allow recruiters to effectively overcome the growing skills gap: it’s grown by 44% since 2012. Businesses have to be more efficient and effective, and they still need to keep quality at the forefront of all talent acquisition decisions, from hired employees to technologies used. Top performers grasp how important it is to supply their HR department with the resources they need to be successful, way more than everyone else, too. Notably, Best-in-Class businesses are three times more likely than All Others (59% vs. 19%) to use talent management data in combination with business data to measure the overall impact on business performance. Such data, intelligence, and analytics allow recruiters, HR departments, and HR leaders to hone in business performance, employee performance, and the future hiring needs better than ATSs ever could.
What other talent acquisition technologies can help you get the hiring edge? Find out in: Hiring Success Management: Moving Beyond the ATS