How-To

Find More and Better Candidates with the Right Hiring Platform

As more and more companies start to aim for digital transformation by using new technologies to help them work smarter, it comes as no surprise that investments in recruitment technology are at the forefront.

The desire to innovate and stay on the cutting edge has never been higher among recruiters and HR departments. In fact, according to this Forbes article, a survey of 20,000 companies around the world found that HR tech spending grew by 57% in 2021 compared to 2020.

Moreover, this Gartner report predicts that 60% of mid-market and large companies globally will have already invested in a cloud human capital management suite by 2025.

All this growth likely means an influx of thousands of hiring platforms and other recruitment tools, as SaaS companies and the like will look to capitalize on recruiters’ and HR departments’  desire to spend.

This is precisely why in this article, we will be talking about what recruiters should expect from these hiring platforms, for the technology to be considered useful for their recruitment strategies.

Read on to find out how to select the best hiring platform to fit your recruitment needs, and avoid investing in software that may not be the right fit for your company.

What exactly is a hiring platform, and why do recruiters use them?

A hiring platform is defined as any tool that can help you hire better. This touches on a vast array of technologies, such as SaaS like simplified recruitment interfaces, automated emailing, and AI-driven candidate sourcing.

Prime examples of hiring platforms include applicant tracking systems, or ATS, where recruiters can use an interactive drag and drop candidate pipeline to keep track of each candidate throughout the hiring process, like this:

Recruiters and HR professionals use hiring platforms like an ATS to (1) save time in their recruitment process and (2) improve the quality of the candidates they find for their clients.

According to this article by LinkedIn, It takes a median time of 33 to 49 days to hire someone, depending on the industry. And although this range may already seem long, it becomes more apparent once you take your applicant-to-hire ratio into consideration.

Put simply, the applicant-to-hire ratio is a figure that shows how many applicants it takes to achieve one successful hire. If it takes hundreds of applicants and candidates to produce a single successful hire, then it could take even longer to deliver a successful candidate to your clients.

The applicant-to-hire ratio varies among companies and positions, so it is recommended to calculate your own ratio and use that figure as a benchmark, to see how it can be improved with an ATS. 

For example, let’s say your recruitment strategy results in 4 hires for every 100 applicants on average. If you can use technology like a hiring platform to turn that into at least 8 or 9 hires per 100 applicants, while maintaining the same hiring standards, you would have successfully doubled your output as a recruiter.

Here are some key ways that hiring platforms like an ATS help improve your recruitment process time-wise and quality-wise:

1. Helps you develop a bigger talent pool

ATS’ help scale talent sourcing by allowing you to post job openings across multiple platforms, and access professional profiles of both applicants and people working elsewhere who could be the right fit for the position.

2. Improves communication with clients

Hiring platforms need to streamline communication with clients, such as compiling emails or generating performance reports. By saving time that would normally be spent worrying about client satisfaction, you will have more time to actually get things done and focus on finding great candidates.

3. Automates everything that can be automated

SHRM research reveals that 25% of organizations will either plan to or increase their usage of automation of AI in their recruitment processes in the next five years.

This means recruiters must find a way to automate everything that can be automated, to optimize their time and stay relevant among the competition. Things like posting several listings at once, or sending mass introductory emails, must be taken care of. 

So now that we have covered how recruiters benefit from using hiring platforms, it is time to list down everything you need to expect from modern hiring platforms like an ATS, to ensure you are up-to-date on current and future trends, and thus will make the best decision possible.

What recruiters should look for in a hiring platform

When selecting a hiring platform, ensure that the software you select includes the following features. Ideally, a platform that allows you to do all of these tasks in one place is preferred:

1. A fully-functioning applicant tracking system (ATS)

Your ideal hiring platform must include at least an ATS that helps you organize all your applications and candidates in one place. 

With Manatal’s ATS, for example, users are able to move candidates freely among different stages, such as candidates contacted and candidates who have completed technical interviews:

This feature helps you organize your dashboard, so that you are always on top of a candidate’s progress in the selection process. Doing so also ensures you never miss an opportunity to keep candidates in the loop, in case you feel that they could be more suitable for another role in the future.

READ MORE: 5 Recruitment Challenges Solved with an Applicant Tracking System

2. Candidate sourcing capabilities

One of the most important tasks that a hiring platform needs to provide recruiters with is the ability to search extensively for candidates across multiple platforms. 

Applications from job boards are not enough if you need the best candidates. This is because oftentimes, recruiters will also benefit from being able to view the profiles and work experience of passive candidates, or people who are currently employed, but could be perfect for the role in question.

Having one place where one can view data from every possible candidate is thus crucial in developing a high-quality candidate shortlist.

Manatal’s candidate sourcing, for instance, allows recruiters to browse profiles from job listings, professional networks, career pages, and even referral programs. It automatically creates candidate profiles from all sources for easy viewing and selection, like this:

3. AI-driven recommendations

An ideal hiring platform must include some form of AI-assisted recruitment, because it saves you the time of sifting through thousands of applications yourself. However, note that the AI should never take over your decision to hire, because every selection needs to be judged by a human at the end of the day. 

The purpose of AI-assisted hiring is precisely to assist you in making a hiring or candidate-selecting decision. And in Manatal’s case, the software also includes AI-driven candidate recommendations, which come in the form of suggested profiles with percentages, representing the degree of similarity to your pre-selected criteria:

This especially comes in handy if you are working with several candidates at once. Looking at the degree of likeness to your criteria will help prioritize who to contact first, and who to save in your talent pool for another job opening later on.

YOU MIGHT LIKE: How AI Navigates the Candidate-Driven Market

4. Automated job board posting and email

This McKinsey report states that most businesses believe that at least one-fourth of their tasks can be automated in the next five years. In modern recruitment, one of the most tedious tasks is posting a job opening on multiple job boards, and having to keep track of all applications across every platform.

The task becomes problematic when you need to monitor several job openings at once. If you regularly post on seven different job boards, for instance, you will need to track seven pages per job opening.

With Manatal’s automation, you can post job openings across 2,500+ premium channels and have all applications centralized and categorized per opening within the platform. This effectively turns hours of manual application monitoring into minutes of monitoring per day. 

Here are some examples of available channels with Manatal:

Another feature that eliminates the need to switch from tab to tab on your browser is Manatal’s integrated emails feature, which allows for emails from multiple sources to be compiled within one platform.

That way, a recruiter would have full access to all previous email communications and attachments. Combined with the drag-and-drop dashboard feature, every email sent at every stage of the hiring process is automatically recorded.

Here is a screenshot of what the email integration looks like:

5. Customer relationship management (CRM) and Vendor management

A recruiter’s job does not always involve sourcing people to fill positions. Especially for those working in recruitment agencies, there is the additional task of maintaining good relationships with clients while you find candidates for them.

And because managing everything at the same time can get overwhelming, the ideal hiring platform needs to have an answer to this as well. For instance, Manatal’s platform allows recruiters to apply the drag-and-drop dashboard to manage clients as well:

This makes it very easy for recruiters to organize both existing clients and potential clients for the future, ensuring a steady revenue stream and client retention rate. The structure allows for recruiters to manage time to maintain a good rapport with existing clients, while making time to reach out to prospects simultaneously.

Another great tool worth mentioning in terms of client relationship-building is a hiring platform’s ability to generate substantial and meaningful reports.

A clear, concise breakdown of how many candidates were selected for an interview, and how many approved candidates accepted a job offer, among other percentages, are invaluable for a client.

Generating reports like these help a client gain a better understanding of the value you are providing for them. And an ideal hiring platform should offer the capability of automatic and customizable report generation, like this snippet from Manatal:

Additionally, part of a recruiter’s day is spent managing vendors, such as headhunters or other freelance recruiters.

Things can get complicated when you need to calculate revenue from investing in these people, both because success can be hard to measure and because it is a challenge to keep up with their progress–especially when you are already dealing with everything else above.

This is why a vendor management dashboard like this will definitely come in handy:

It instantly becomes simple for a recruiter to keep track of how well a vendor is doing. And thus, making the call for whether to continue working with them or seek another vendor, becomes completely data-driven and more efficient.

READ MORE: How a Vendor Management System Can Help Manage Multiple Recruitment Agencies

6. Cloud-based storage

As the last factor to keep track of, any hiring platform that does not offer at least partially cloud-based storage is a potential red flag. Cloud computing significantly helps decrease data storage and management costs, both in terms of buying storage and hiring people to manage it all.

According to Gartner, there was $410.9 billion in spending on public cloud services globally in 2021, and it is expected to skyrocket to over $600 billion in 2023. 

It is safe to say that cloud computing, or at least variants of it, is not going anywhere soon.

Next Steps for Recruiters Looking for the Right Hiring Platform

When looking for the ideal hiring platform for your business’ setup, ensure the platform has everything listed in the section above.

Companies are going digital no matter what, and that means technology is going to develop as digital transformation continues.

Recruiters will need to stay on top of the game as the competition gets fiercer. And thus, having the knowledge on how to select the right technology to start applying to their recruitment processes will be invaluable for their success moving forward.

Curious to know how a hiring platform can help you hire more in less time? Manatal is currently offering a free 14-day trial for its entire platform. If you are interested, sign up for your trial today!

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