Amidst the pessimism of global economic slowdown due to COVID-19 Amazon spurred optimism by announcing the hiring of 100,000 employees globally to support people relying on Amazon’s service in this stressful time. Even if the competitors were planning to hold on a little longer, this stimulant would force them to change their policy. Only the ones who are ready to upgrade will emerge, and for that, they must adapt automated recruitment software which will help capitalize more in response to the abrupt spikes in the hiring process. The obligation of low operating cost, capacity for enormous upward scalability advocate the implementation of recruitment software and tools without delay.
Glassdoor, a job search website indicated a double amount of job postings in government, healthcare, biotech, and pharmaceuticals sectors. Besides this, the industries which expect an upsurge in their hiring activity, during and post COVID-19 are e-commerce, online marketing and manufacturing industries. This situation indicates a voluminous response for various job positions. Hence precision, robustness and speed are the minimal expected criteria for recruitment which a talent acquisition software can aptly fulfil.
According to Fortune Business Insights, the overall Recruitment Software Market expects to grow from USD 1,753.2 Mn in 2017 to USD 3,095.8 Mn by 2025 at a CAGR of 7.4% during the forecast period. This statistic signifies a notable paradigm shift in the recruitment process.
Major automation companies in the market are developing customized recruitment software having innovative features integrated with Artificial Intelligence. Such high-performance development tools set an expectation to fuel the demand for recruitment software. For instance, Kronos has gained a higher share in the global market because of the adaptability in its product development policies.
Some organizations creating global recruitment software are:
1. Kronos Talent Acquisitions
2. ADP Recruiting Management
3. SAP Success Factor recruiting
4. Zoho Recruit
5. Breezy HR
Best recruitment software can process voluminous applications. It posts jobs, acquire profiles from job search portals, referrals and social media platforms, review resumes and interview candidates. The recruiting software thus streamlines and automates the entire candidate search and hiring process by eliminating unnecessary paperwork and tedious procedures of searching and sorting. This software saves time of the HR manager, which they can invest to improve the candidate engagement and nullify the chances of losing a potential talent. The candidate engagement keeps them informed about the stages and the progress of their hiring process through correspondence, emails and chatbots. The auto-scheduling of interviews and online interviews through video conferencing make the recruitment software exceptionally cost-effective and fast.
The best recruitment software is a comprehensive hiring mechanism which seamlessly links with some prominent recruitment tools. The diminishing hiring possibilities can see a revival by applying algorithms associated with hiring tools. An applicant tracking system is a subset of such recruitment software. Other features that add vitality include scheduling, emailing, boolean search, and mobile capabilities. The following recruitment tools provide a cutting edge to the hiring process.
Candidates Data Reusability
This tool triggers candidate rediscovery using data mining techniques in the centralized ATS database. The rediscovery tool search for the required criteria within the existing database, compare the specification and create a result set of prospective candidates internally. This tool saves resource and time consumed by job posting and response receipt.
Screening using AI tools
AI to automate screening simplifies and accelerates the extensive hiring process. Reports state that on an average, 65% of the resumes are ignored in case of the high-volume job posting. AI tool reads employees’ experience, skills, and other qualifications and segregates data. This acquired data is used to automatically screen, grade, and shortlist new candidates. AI for screening reduces the cost per hire by 70% and reduce time to hire from 34 to 9 days.
Encourage Diversity and Inclusion
This tool improves inclusion by negating the subconscious bias based on implied race, gender , and age. AI is used to identify and remove bias from job descriptions, resume screening, and sourcing which helps in obtaining a talent pool for a specific position.
Recruitment assistance through chatbot
Recruitment chatbots align hiring process by providing real-time communication to the candidates. It answers FAQs about the job, provides feedback, schedule follow up or interview with the HR manager. This tool is an automated responding system that saves time, resources and massively improves the candidate experience.
Target based Job ads posting
Re-targeting and geo-targeting are new methods of posting job ads for any vacancy. Under re-targeting, the job ads are posted to candidates who have visited the respective company website or the career option. Whereas under Geo-Targeting job ads are posted for specific proximity or location.
Branding with Recruitment Software
Recruitment marketing is the best practice to create a brand image and attract new candidates. It enables reports and returns, multi-channel use, targeted messaging, and tech-enabled automation, to attract, engage, and nurture candidates who haven’t yet applied to a job and convert them into applicants by communicating employer’s brand and value.
Since, recruitment is a process which is competitive, continuous and costly; online recruiting software can be considered a significant system in the evolution and growth of a business. Investment in recruitment software should include factors such as organizational goal, size, industry, employee turn-over and country. Some high performing and best recruitment software are as follows:
Kronos believes that the key to business success today starts with recruiting and retaining great people. They provide a suite of products typically designed to help attract a highly engaged workforce to drive better business results. The software automates recruitment and staffing procedures during the employment application process. It helps field managers and recruiters find the quality talent to compete in the talent wars with powerful applicant software. This talent acquisition software provides a simplified solution for both high-volume and distributed hiring and centralized requisition-based recruiting and offer a streamlined, easy-to-use experience for candidates and hiring managers. The comprehensive, multi-user based automated solution helps HR teams recruit, screen, track, engage, and complete employee verification of shortlisted candidates.
ADP® Recruiting Management is the all-in-one recruiting automation platform that supports holistic talent acquisition lifecycle and imbibes built-in social and mobile tools to help one cultivate the best possible candidates irrespective of their location. This comprehensive recruiting technology for advanced recruitment offers active and passive candidate sourcing capabilities to develop robust talent pipelines.
It amplifies the hiring process by integrating candidate data and automated screening.
This software provides powerful analytics and metrics by generating reports and syncing the data with Human capital management system.
This recruitment software source, engage and hire the world’s best talent. This application ensures the security of the right talent by applying result-oriented recruiting practices with embedded engagement and automation.
The global talent sourcing provides a dynamic talent pool of past applicants and active candidates and categories to access them at the right time. It offers automated job advertising that set protocol and reaches to the right recruitment sources that cater the suitable candidates.
It is the mobile-first career site that creates a perfect experience for candidates on any device in 46 languages anywhere in the world and keeps them notified with the updates.
Recruitee is a software for online recruitment that focuses on simplifying the hiring process. It is a reputed talent acquisition platform in Europe, associated with esteem companies such as Vice, HotJar, Dunkin, Lacoste, Toyota, and Singapore Airlines. It enables companies to attract cream talent, automate the hiring process, and make predictive analysis with data reporting and prediction functions. The modular software comes in several packages and pricing based on the number of active job openings.
Besides these large recruitment suites, there is recruitment software for SMEs with an exceptional calibre of accelerating and modernizing the hiring process.
5. Zoho Recruit
Zoho Recruit is a freeware applicant tracking and recruitment software tool. It is a combination of the applicant tracking system and recruiting software that can be used by the corporate HR department as well as staffing agencies. HR teams increase their efficiency by streamlining their entire recruiting process. On the other hand, software tools for recruitment agencies can easily organize applicant data, manage, categorize, and shortlist candidates in less time. Zoho Recruit integrates with other Zoho apps and third-party applications. Mobile apps for iOS and Android are also available.
6. Breezy HR
Breezy HR is a recruiting software and applicant tracking system that modernizes recruitment. It is an end-to-end recruiting software that helps employers attract talent and hire them. Key features offer reporting and analytics for review; candidate management through GUI; automated email, SMS, scheduling and interview management, and more. It offers several paid plans depending on the features included, but all come with unlimited users, candidates and customer support. A free plan is also available.
It implies that online recruiting software and tools have opened the worlds to the recruiters. It eradicated the limitation of being confined to the office with a desktop and tons of paperwork load. The online recruiting software tools can significantly improve workplace productivity. It provides users with access to information and insight that comes from social media platforms, but also offers tools to create a data repository for future use. They save time and resources and also offer a rich candidate experience through consistent communication. Such features power packed in a software ensure exponential growth of the organization in any situation.