Too often, budget-strapped companies resist using recruiting platforms — mostly due to perceptions or past experiences that such online recruiting software is costly and complex. These companies fail to consider that the traditional costs of managing these tasks may be far greater. Older, more inefficient methods can lead to wasted time, money, and productivity.
1. Better Team Communication
Recruiting platforms can be essential tools in keeping communication flowing during the hiring process. Unlike the traditional software that is not truly integrated into the applicant tracking process, next-generation systems like Simplicant address common enterprise challenges and allow teams to access information at any time, from any place, via the cloud. This makes it simple to share candidates and notes across an organization.
Savings: According to the Society for Human Resource Management, the cost to replace entry-level employees is between 30 and 50 percent of their annual salary. For mid-level employees, this cost jumps up to 150 percent, and when you get to highly specialized employees, it can cost your company as much as 400 percent of an employee’s annual salary. These prices are too high to ignore!
A Harvard study found a shocking 80 percent of employee turnover can be attributed to mistakes made during the hiring process. If you get the whole team involved from the beginning to evaluate important criteria like cultural fit and skills matching, you’ll be better positioned to retain employees…and save money.
2. Social Sharing
Social media has changed more than just how we stay connected and communicate with people. It has also changed hiring practices. In fact, the number of companies using social media to recruit grew from 34 percent in 2008 to 56 percent in 2011. Of these numbers, 95 percent of recruiters are using LinkedIn to find candidates, with Facebook the next in line at 58 percent, and Twitter narrowly trailing at 42 percent.
While it is definitely possible for a company to reach out to potential hires individually via social media on their various accounts, Simplicant enables your company to take social recruiting to the next level. Simplicant’s social sharing capabilities make it simple and fast to share openings on the most popular platforms where your target talent spends most of their time.
Savings: Research suggests that the quality of a hire increases and time-to-hire decreases when using social media in the recruiting process. By leveraging Simplicant’s next-gen recruitment platform, companies can avoid making poor hiring choices, and as a result, can save time and money by not having to refill positions.
3. Detailed Tracking
Tracking the status of your recruiting process is necessary to ensure you are actually accomplishing what you have set out to do. It is important for your recruiting team to know exactly what in your recruiting process is bringing results and what could use some tweaking. A lot of the older systems were developed prior to the popularity of social media, so social recruiting features and analytics were added on as an afterthought. Simplicant, however, provides the tracking capabilities that employers need to be effective and successful in their social recruiting efforts.
Simplicant tracks all your recruitment related activity can let you know everything from where on the Internet your candidates are discovering your jobs to what stage of the recruitment workflow they are currently in. This information is invaluable in your efforts to build a faster, leaner, and more effective recruitment strategy for your company. With Simplicant, employers and recruiters can instantly react to feedback and tailor their recruitment strategies to be more targeted and effective.
Savings: If you follow the 80/20 Pareto Principle, you can expect roughly 80 percent of your successful candidates to come from 20 percent of your sources. This means, if you don’t know where these candidates are coming from, you could be wasting time, resources and money on recruiting strategies that are not working for your company.
With the high costs associated with talent acquisition mistakes, your company cannot afford to ignore recruiting best practices. Simplicant is helping companies save time and money by making the process much more effective and by leveraging personal connections and social media platforms to attract the best candidates.
Is your company looking at online recruiting platforms to better manage and streamline its hiring process? Request a demo and learn more about Simplicant.