SaaS (“software as a service”) recruiting software refers to on-demand software, whereby the database and features are hosted in the cloud.
It’s essentially the prevalent model of recruitment software delivery right now.
The benefits of SaaS recruiting software
Cost effectiveness: You save money because SaaS recruiting software doesn’t need IT infrastructure, maintenance, or staffing costs. All of that is handled by the provider and baked into your subscription cost, but said subscription cost is likely to be significantly less than the implementation and overhead costs of infrastructure and maintenance.
“Hit the ground running:” You can import existing data fairly easily, and because you don’t need to install and implement the software yourself (the provider does it), you can be up and running in hours. Continue reading
Jobvite recently published their 2017 Recruiting Funnel Benchmark Report, an analysis of data from over 50,000 posted job listings, 15 million job applications, and 69 million job seekers.
Phew! That’s a lot of data.
Having an accurate grasp of your recruiting metrics is important for optimizing your processes and showing the business value of your recruiting activities.
An important aspect of assessing metrics is knowing where you stand compared to industry benchmarks.
Here are the stats from Jobvite’s 18-page report I thought were the most insightful. How does your recruiting process compare?
Applicants per open req
The number of applicants per open req is going to vary greatly depending on the size of your organization, the industry, and the role. Continue reading
The definition of an HR screening tool is changing these days.
Back in 2000, SHRM listed the #1 screening tool as employment verification. In 2015, the top HR screening tool was the ATS.
In the last 2 to 3 years? A lot has changed.
Some have argued AI is the new electricity:
“About 100 years ago, electricity transformed every major industry. AI has advanced to the point where it has the power to transform every major sector in coming years.”
-Andrew Ng, founder of the Google Brain Deep Learning Project
Looking at the financial history of AI, there was $5B in funding in 658 companies in 2016. Continue reading
Speed is an important, if not the most important, factor in recruitment, which is why we have metrics such as time to hire and time to fill.
Source: Talent Tech Labs
When a role is open, that implies increased workload for other members of that team. Managers try to avoid that, so they want a position filled quickly. The problem is that a recruitment process focused exclusively on speed can be prone to a lot of error and miscommunication.
Between 25-33% of employees depart within six months of entering a new job.
Clearly, the recruitment process isn’t being optimized properly. Continue reading
Candidate sourcing tools can – and should – be a recruiter’s best friend.
In a perfect world, we’d be able to find the absolute best candidate for an open role, whether that candidate is active or passive. Unfortunately, we know that approximately 50% of new hires fail.
So where’s the disconnect between the tools being used and the effectiveness of hiring? How do you know what features you need?
Here are 6 rules to follow when selecting a candidate sourcing tool.
Rule 1: Keep your hiring model in mind
What are you trying to accomplish specifically?
If you are a company that does a lot of high volume hiring, that will require different technology and functions than a company that might hire three times total per year. Continue reading
Ideal’s CEO Somen, COO Shaun, CTO Matt, and VP Product Jason explain how Ideal‘s artificial intelligence was designed to help recruiters.
Learn why Ideal uses artificial intelligence, how Ideal’s AI uses recruiters’ feedback to learn and improve over time, and how recruiters use Ideal to screen and shortlist candidates instantly and effectively.
Optimize Your Hiring Using AI Continue reading
The competition for talent is fiercer than ever, with 68% of recruiters reporting they have difficulty finding full-time employees. In today’s environment, it can be challenging to come up with recruitment strategies that make your jobs stand out from the rest.
Here are 6 genius recruitment strategies you can try to attract interested candidates.
Recruitment strategy #1: Duplicate your top performers using tech
One of the best recruitment strategies is duplicating your top performers. You already know what works well at your company, so why not duplicate it?
Of course, this is easier said then done and without the help of the right tool, it’s hard to do manually and scale. Continue reading
According to LinkedIn’s 2017 Global Recruiting Trends, 38% of talent acquisition leaders would invest in candidate experience if money wasn’t an issue.
Candidate experience is a candidate’s overall evaluation of the hiring process from sourcing, screening, interviewing, hiring, and onboarding.
As an area of recruiting that’s historically had a pretty terrible reputation, the good news is that there’s a lot of room for improvement.
Here are 5 ways technology can help improve your candidate experience.
Why candidate experience matters
A survey of job seekers found that nearly 60% of them have had a poor candidate experience. A bad candidate experience can seriously damage your recruiting efforts. Continue reading
An important recruiting metric, time to fill is the number of days between the day a job requisition is approved until the day an offer is accepted by the candidate.
SHRM’s latest recruitment survey reports the average time to fill is 41 days. But with hiring volume increasing this year and top candidates staying on the job market for only 10 days, recruiting teams are under pressure to reduce their time to fill.
iCIMS’ data breaks down the time spent on each step of the hiring process:
23% HR Screening
37% Hiring Manager Review
This means 63% of the recruiting cycle is directly under your control to streamline or automate. Continue reading