Business growth depends upon several factors, not the least of which is managing organizational assets correctly. What are your most valuable assets? Anne M. Mulcahy, corporate executive and HR thought leader, offers this observation:

“Employees are a company’s greatest asset – they’re your competitive advantage. You want to attract and retain the best; provide them with encouragement, stimulus, and make them feel that they are an integral part of the company’s mission.”

That is a tall order for hiring managers. However, it is absolutely essential to the long-term growth of your business to recruit and retain the right talent. How can an effective recruiting solution support your efforts in this area? Here are three key ways:

By Identifying and Facilitating Engagement with Top Candidates

An effective recruiting solution helps you to source top talent from multiple channels such as LinkedIn and GitHub. With the ability to parse resumes directly into your talent management system, you save time and money that was once spent on manual data entry.

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Once you have found both active and passive candidates and they have become a part of your applicant tracking system, an effective recruiting solution facilitates engagement with these candidates via prompt and consistent communication.

Ideally, your talent management solution should also allow real-time collaboration among all parties to the hiring process. This way, everyone involved stays up-to-date without the need to compile endless status update reports that are likely to be largely irrelevant by the time they are distributed.

By Improving Your Team-Building Ability

Another significant way an effective recruiting tool supports long-term business growth is through its ability to enhance your team-building efforts. A robust applicant tracking system helps you build relationships with both active and passive candidates. By maintaining communication with candidates who are potentially valuable to your company, you develop a deep pool of talent from which to draw as the need arises.

A rich talent pool affords you the luxury of being less concerned with filling a position quickly and more concerned with filling the position well. This allows you time to truly consider how and where a particular candidate will fit best with your teams.

You can then hire in such a way as to enhance your company culture, rather than disrupt it. A more harmonious hire leads to a more productive team. Productive teams lead to increased business growth.

By Reducing Your Cost to Hire

An effective recruiting solution also reduces your cost to hire. How so? First, it must be acknowledged that time is money. A good recruiting solution saves you considerable time by automating processes that were once done manually. For instance, manual data entry for new candidates was once labor intensive. An effective recruiting solution, however, parses resumes easily, eliminating hours of manual data entry.

Because a good recruiting solution provides you with a centralized, easily-searchable database of your active and passive candidates, you can save hours of poring over Excel spreadsheets in search of the information you need.

With real-time collaboration capability, you can reduce the amount of time you spend getting up to speed with what is happening with a candidate and cut right to the chase.

All of these things are time saving devices that save money and ultimately contribute to the sustainable growth of your organization.

The Takeaway

Your employees are your most valuable asset. Since that is the case, investment in a robust recruiting solution is ultimately an investment in the long-term sustainability of your business. To see a truly effective recruiting solution at work, schedule a demo today.