Sourcing talent is like piecing together a 3-D jigsaw puzzle on a constantly sliding surface. It is possible, but it requires a high level of skill and concentration.
Turnover and the Talent Manager
The U.S. Department of Labor reports that the average amount of time workers stay with a particular employer is 4.6 years. Considering the span of a professional career, 4.6 years is a startlingly short amount of time. Add to that the fact that, among workers 25 to 34 years of age, the figure drops to just 3 years, and it becomes clear why talent sourcing remains a top priority for thriving organizations.
According to a recent DHI Group survey, 74 percent of hiring professionals in 2015 indicate that sourcing talent is more important than it was just a year ago. In the same survey, 45 percent of hiring managers say that the time it takes to fill an open position has increased since last year.
When queried as to why it takes longer to fill a position than it previously did, 53 percent of hiring managers listed the reason as an inability to find qualified professionals.
The way to meet the challenge presented by the gap left when professionals seek other opportunities is to have a healthy pipeline of qualified professionals ready when a position becomes available. An applicant tracking system is an ideal tool to accomplish this.
Benefits of Using Applicant Tracking Systems
Recruiting Daily notes that 75 percent of big companies use an ATS before a resume gets into the hands of a recruiter. There are several valid reasons for that. Here are a few of them:
1. Applicant tracking systems save time.
Applicant tracking is a long and arduous process without the benefit of technology. The sheer volume of logistical information involved in the beginning phases of recruitment can bury a hiring manager under a sea of paperwork.
Automating the process with applicant tracking systems saves time and allows a recruiter or hiring manager to sift through prodigious amounts of information in an organized way that is considerably faster than sourcing methods that do not use available technology.
2. Applicant tracking systems make the most of social media.
Applicant tracking systems can automate social sharing, manage email templates, and monitor social media activity. This enables hiring managers to quickly identify potential passive candidates who would be an ideal match for an open position. Better yet, it can accomplish all of this in real-time, allowing hiring managers instant access to a comprehensive view of their talent pipeline.
3. Applicant tracking systems provide an optimized candidate experience.
According to a recent article by Berkshire Associates, candidates benefit as well. The article states: “If a job seeker fits the criteria, his or her application will make it through, unimpeded by human error and not outdone by candidates who try to unfairly boost their credentials. The process is easier, faster, and more direct.”
This ease of use will likely result in a higher percentage of applicants who actually follow through and complete the application process, providing hiring managers with a larger pool of potential candidates.
The Bottom Line
The above three benefits are by no means the only advantages that applicant tracking systems provide, but they illustrate why it is reasonable to consider an investment in an applicant tracking system in today’s business environment. To see how Thrive’s applicant tracking system can work for your particular organization, schedule a demo today.