We live in unprecedented times that continuously emerge new trends and challenges. After the world found itself in the clutches of the COVID-19 pandemic, the job market is going through rife fluctuations, making things hard for companies.
Although there’s plenty of job openings, there aren’t enough qualified candidates for these positions. Employers are facing talent shortages and, in the process, struggling with efficiency.
Despite the high demand, there’s a low supply of skilled talents due to the Baby Boomer generation retiring and mid-career professionals questioning their career decisions. On the other hand, millennials and Generation Z often lack the necessary skills and knowledge to pursue a career in tech.
Another difficulty slowing down the hiring process and affecting recruiters’ efforts is changing expectations and standards. The future of work requires speed, agility, and digital competencies yet many companies are still in the early phases of adapting to the tech-driven realm.
Job seekers also demand better work conditions from employers and ask for flexibility, remote work, and efficient wellness programs. These factors all impact recruitment and slow it down, causing hiring managers to struggle with attracting and retaining qualified talents.
Yet, a recruiting process that stretches for months could result in revenue losses, negative candidate experience, and losing skilled job applicants. Technology is the solution that can help recruiters accelerate activities and fill available vacancies faster.
Automation and globalization are creating a world where everything intertwines and is interconnected. Because of that, every company and organization that aims for growth and success is investing in top-notch HR technology.
SaaS and Cloud tech has already taken over the business landscape, but human resources are no exception. The pandemic increased technology investments in the HR industry by 40 percent, with organizations usually focusing on SaaS technologies.
As a result, cloud application services will reach 143 billion USD by the end of 2022. Most organizations are adopting cloud consulting, implementation, migration, and management.
However, they all have similar objectives: adapting to digital transformation, improving customer satisfaction, and boosting retention. Organizations enjoy the leverage of SaaS technologies because they can work in silos or with integrations.
In a nutshell, the HR tech market will likely grow by almost 2x by 2025 and reach 90 billion USD in the next six years. More than 30 percent of companies use cloud systems, but that number is poised to grow in the future.
The data shows that technology and recruitment have a bond that isn’t going to fade over time. Instead, it will intensify, making tech and HR long-term partners and resulting in faster processes.
The innovative HR technology works on AI and intelligent algorithms that help recruiters handle every procedure. Nowadays, hiring managers can use software to manage job postings, reach the most qualified candidates, ensure continuous communication, or parse resumes.
Tech enables HR departments to maneuver their hiring process in a digital world and use tools that automate their tasks and increase their efforts. What does that mean for SaaS technologies and recruitment acceleration?
Recruitment SaaS (software as a service) is an on-demand software that allows users to host its features and databases in the cloud. The principal goal of this technology is to increase the efficiency of the hiring process.
It works on a principle of subscription, making SaaS more attractive than investing in more demanding software or systems. Moreover, it’s also a safer option for uncertain times, providing flexibility and accessibility.
However, before opting for this cloud-based technology, it’s recommendable to have an in-depth understanding of its features, benefits, and why it’s an increasingly growing market.
Here’s everything you should know about SaaS.
Due to being an on-demand software, you can use SaaS tech whenever you want or need it. The vendor is the one who hosts all the features and databases in the cloud.
Thanks to that, you don’t have to worry about implementation updates, maintenance, or security. Instead, you can focus on what matters – recruitment. Thus, you pay a subscription for services and tools you need, meaning that you don’t have to pay more than what you get.
However, if your needs change over time, you can alter the level of your subscription.
If you opt for SaaS software, you get access to a centralized platform that’s stored on a cloud. There, you can perform nearly every task you need, depending on your subscription.
That means that your team can use it to store and find applicant data, get AI recommendations, communicate with candidates, manage a career page, share jobs online, etc. Services depend on SaaS software, but they aim to turn talent acquisition and recruitment into a seamless process.
Here are the top seven benefits of recruitment SaaS:Cost-Effective – One of the best advantages of SaaS is that it doesn’t require IT infrastructure, purchasing or installing software, maintenance, and staffing expenses. The vendor takes care of all these issues instead of you, ensuring everything is up and running. Yet, the subscription is still more economical than investing in traditional systems without servers.
Easy to Use – No HR department would be happy to spend weeks learning to use a complex program or system. With SaaS, all it takes is to have internet access and log into your account. Thanks to that, you can subscribe today and start using your recruitment software the same day.
Subscription Leverage – As mentioned before, choosing recruitment SaaS means that you will only pay for the features and services you get. Yet, you can change it anytime. As a result, you get access to top-notch technology without having to invest in on-premise software or hardware that tends to be expensive.
No Extra Hassle – Besides not requiring installation, SaaS frees you from paying attention to updates and upgrades. The software provider is responsible for all those tasks.
Accessibility – Accessibility is likely one of the most prominent advantages of cloud-based software. That means that you can be on a business trip, an airport, or an airplane, and you’ll still be able to access a SaaS and explore your database. If you have an internet connection, you can use your recruitment software from any location because it doesn’t require anything else.
Mobile-friendly – Nowadays, most SaaS technologies are mobile-friendly, enabling you to work from your phone efficiently.
Compatibility – SaaS are compatible with any computer system, allowing your team to work uninterruptedly and pick up right where they left. As a result, you’ll save time, energy, and money. Plus, you won’t have to worry about version control.
Ultimately, recruitment SaaS is ideal for hybrid forms of work and telework due to its easy use, fast workplace adoption, and scalability. As a continuously evolving solution that adapts to tech changes and company needs, a recruitment SaaS is a must for recruiters in 2022 and beyond.
Companies that use recruitment SaaS don’t have to invest in extensive software training because HR professionals need to learn about one platform only. As a result, they can start working faster and avoid the struggle of having to become familiar with multiple websites, applications, and upgrades.
However, the ease of use isn’t the only factor influencing the speed of recruitment. SaaS enables various handy features, such as automation and cloud-based databases. Each of its abilities allows this type of recruitment software to accelerate the hiring process.
Here’s how you can use a recruitment SaaS to improve recruitment efficiency.
Finding the right candidate is one of the most taxing tasks in the post-pandemic era. Most companies struggle with reaching their target audience and maintaining their interest.
Moreover, talent shortages are making this undertaking even more challenging. However, having a recruitment SaaS provides you with intelligent candidate sourcing tools that automate the process and search for information across databases.
That way, you get access to invaluable sources that enable access to talents that match your job requirements. For instance, Manatal allows you to save time and energy by importing relevant LinkedIn profiles in just a click.
It’s an efficient feature because it parses through all public information and adds them to the candidates’ profiles. As a result, you can shortlist, save, and contact talents that are the most compatible with the job requirements.
You can go beyond social media integration and share available vacancies on various channels, such as Indeed or thousands of other job boards. That helps you build a talent pool of qualified candidates and all centralized in one platform.
Thanks to that, you can avoid waiting for job applicants to come to you. Instead, you can target them first and weed out underqualified talents, speeding up the hiring process.
Candidate engagement and candidate experience intertwine. Typically, individuals who found the selection process disengaging and had to wait to hear the results for weeks would find their experience disappointing.
On the other hand, it’s understandable that recruiters must handle multiple assignments and responsibilities throughout the selection process. That often leaves no time to update every job applicant and ensure they’re still interested in the job.
But getting to the final stage of the recruitment and learning that a shortlisted candidate wants to quit could take you back to the beginning. Recruitment SaaS prevents this from happening by managing candidates and hiring managers, tracking emails, and scheduling interviews.
That way, it paves a path to a positive experience that fosters candidate interest and enables fair treatment. In the long run, that improves employer reputation, making it easier to attract new talents.
Sourcing candidates isn’t enough if these talents aren’t compatible with the job requirements, company culture, and business objectives. Recruitment SaaS uses advanced technology that helps you identify individuals whose experiences and skills match the job description.
Moreover, it parses resumes and job applications of every applicant, assessing their capabilities, work experience, and skills. For example, Manatal offers software that scores candidate information and ensures their profile fits the necessary criteria.
This solution also shortens the time recruiters typically need to identify the best talent with its AI-powered recommendation engine. You can get the profile of the most compatible individual quickly as this feature suggests the most suitable jobs for your applicants and vice versa.
Recruitment SaaS helps you accelerate the process but also avoids gut feelings, instinct-based decision-making, and bias. Thanks to that, you maintain fairness and foster diverse hiring.
The hiring process often slows down because the recruitment teams fail to understand where things went wrong and why their efforts failed. Because of that, they didn’t have the necessary information that would allow them to tweak their strategies and get a better outcome.
Companies that utilize a recruitment SaaS can avoid this with the reports and analytics features. That allows them to collect and evaluate data before potential issues get out of hand.
In-depth performance reports and analyses enable you to track and understand relevant metrics and follow your team’s progress.
Complex recruitment hardware or software inherently slows down the recruitment process as recruiters might take too much time to learn to use it or navigate it afterward. Recruitment SaaS typically includes a holistic dashboard with a seamless pipeline based on a drag-and-drop principle.
That way, you can find and access all the information you need in one place, allowing you to track candidate progress and activity. It’s beyond significant to have an accessible platform that makes it smooth to store data, send feedback, and manage job applicants’ profiles.
Thus, a holistic dashboard allows you to translate keywords into meaningful results and conduct a quick search. For example, Manatal’s recruitment SaaS provides email synchronization, giving continuous access to the information you need.
To a large extent, successful recruitment depends on having accurate information at the right moment. That allows you to understand how well the recruitment process is going, find qualified candidates, and rectify problems before they intensify.
HR departments that use a recruitment SaaS have access to valuable databases that other companies don’t. That way, they can find skilled talents faster, understand their competition, and expand their talent pools.
Moreover, these databases give you a deeper understanding of what your ideal candidates want and where to find them.
Without steady teamwork, recruiters could struggle to complete all the tasks and focus on the recruitment objective. However, if their communication lacks efficiency and transparency, that could influence the hiring process flow.
SaaS technology helps teams enhance their external and internal collaboration, keeping their mutual goal to find the most qualified talent intact. With handy features, such as team chat, email integration, role assignments, interview scorecards, and job templates, you can accelerate recruitment procedures and work without interference.
Seamless recruitment includes more than candidate satisfaction. It also relies on keeping clients in the loop and maintaining regular communication.
That’s especially valuable to recruitment agencies as they must actively work with their clients throughout the hiring process. With Manatal’s recruitment CRM, you can ensure that everyone in the team is on the same page.
It also makes it easier to follow the clients’ guidelines and react fast if anything unexpected arises. Email integration ensures continuous communication with all involved parties, and language features mitigate cultural barriers.
SaaS products are customizable, easy-to-use, and accessible. With this technology, you can avoid investing in pricey software that promises to do more than it offers.
Instead, you will get the features and services you need without the need to install it, maintain it, or provide extensive training on using the platform for your team. It’s no wonder that the SaaS market is continuously growing.
Hence, we will likely witness its evolution in the following years as it adapts to emerging trends and business needs. However, the goal of a recruitment SaaS will always be to improve recruitment and nurture lasting client and candidate relationships.
If you still haven’t experienced the benefits of having SaaS software first-hand, Manatal offers comprehensive features within its ATS and CRM tools.
Click here to discover more about how Manatal could help you speed up the hiring process and try its advantages using our 14-day free trial.