When the world’s first applicant tracking system was introduced, HR departments of many firms believed that something new was about to happen. The cloud based hiring systems and financial management software programs were designed to support the growing nature of any company. As a product, the applicant tracking software has changed many things in companies. It has turned into an integral part of the corporate recruitment lifecycle. Apart from being a tool, it is an integral component of recruitment. Applicant tracking systems is a collection of many elements that can help recruiters, candidates and managers. Indeed, it is a unified solution to save staffing agencies and teams.
According to a recent study, the market for recruitment software and applicant tracking systems is around 2 billion USD. This makes recruitment a red hot industry. The tools have a history of two long decades. However, the need for efficient applicant tracking systems has become prominent only in recent times. With the advent of applicant tracking solutions, resumes can be scanned and parsed effortlessly. It is quite interesting to note that the applicant tracking system seen today was introduced by IBM and Oracle during late 1990s. Since then several thousand firms and staffing agencies have benefited from its features.
Why is ATS Important?
Why are applicant tracking systems and recruitment software programs important? Well, this is an interesting question with many possible answers. Firstly of all, the job application lifecycle has become digital. More than 70% of the job application process is done using online methods. This can be attributed to the present of companies like indeed, LinkedIn, glassdoor, facebook and few others. Every job post receives thousands of resumes from candidates across different parts of the world! Resume overload is a major challenge for most HR teams. And, application tracking systems are here to solve this challenge.
The Long Lifecycle
All job applications should be stored, sorted, ranked and filtered. These filtered applications are sent to managers for review. Once an application gets routed to the manager, it is reviewed, interviewed and screened! If the candidate proves to be worthy, an offer would be made. The recruitment process is lengthy and quite tricky. Applicant tracking systems and recruitment software can reduce the negative experience in the process. Above all, it creates a positive experience for both HR teams and candidates. Conversely, all staffing agencies are expected to work with an applicant tracking system or recruitment software to improve their accuracy and turnaround time.