The growth of any organization is broadly based on three areas of planning––business, financial and human resources. Of the three, human resources is perceived to be the most critical area.
Organizations are using an Applicant Tracking System (ATS) in order to alleviate the many issues associated with talent acquisition today. Employers implement this tool to help bridge the recent talent gap and achieve competitive advantages in their hiring efforts. Recent reports show that an ATS has saved nearly 20 percent of companies’ time during the hiring process. And according to research in the last year, more than 60 percent of companies have implemented an ATS. The ATS market alone is expected to show and 11 percent growth through 2018.
Based on the online research, we have compiled some of the facts and figures below:
- An ATS performs 75% of the of manual work, such as reviewing and ranking resumes before a recruiter sees
- 57% of companies plan for new, major HR purchases in the next 18 months
- Companies with fewer strengths can save over $10,000 by using an ATS
- 75% of larger companies and 60% of mid-sized companies are using an ATS
An ATS has become an intuitive and smart tool for any staffing and recruiting firm by reducing administrative work, unnecessary overhead costs, improving quality of hire and alleviates compliance concerns.
Large-scale recruiting firms are already adapting to the various benefits and have been handling a huge influx of applicants, monitoring recruiters’ interaction with applicants, and maintaining a robust pool of qualified candidates.
Consider TargetRecruit’s ATS capabilities when assessing your hiring strategy and current challenges.