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In today’s dynamic job market, the power has increasingly shifted to candidates, allowing them to choose the workplace of their preference. It’s time for hiring and recruiting managers to think outside the box and find innovative ways to gain a competitive edge. Embracing technology, such as recruiting software and automation, has become crucial in discovering potential talent.
The need for a more modern and digital approach to hiring has become imperative, given the disruptions of the last three years. From the pandemic to the Great Resignation and from inflation to the global recession, no industry has been able to escape the vagaries of the market.
According to a survey conducted by Gartner, HR technology emerged as the top investment priority for nearly 50% of HR leaders.
Most said that technology-driven initiatives held the greatest potential for enhancing the efficiency of HR functions.
Recruiters have discovered the value of proactively leveraging technology, automation, and digitization as they deal with a changing landscape. One of the most effective steps towards the digitization of HR is adopting the right recruitment management system (RMS) to streamline the entire recruiting life cycle, enhance employee retention, strengthen employer branding efforts, and generate excitement among potential candidates.
In this blog, we will dive deep into how recruitment management systems are the panacea to recruitment challenges.
Recruitment Management System: In a Nutshell
An RMS is a comprehensive set of tools designed to automate and streamline an organization’s recruiting and staffing operations. It is an integrated software platform that automates every step of the recruitment process. It takes over right from sourcing for a candidate to pre-employment screening, interviewing, and onboarding. With an RMS, it is possible to address any shortcomings in the hiring process and manage it more efficiently.
Choosing a robust recruitment software is a valuable investment for recruiters. While it can automate mundane tasks, it can also organize processes and boost recruitment efforts with AI-powered tools. It works best for today’s time-starved recruiters, who are expected to juggle a host of open positions simultaneously. An RMS helps fill positions within timelines while saving time and effort in manually screening applications.
How to Pick the Right Recruitment Management System
Given that the market is inundated with several recruitment software options, navigating through the sea of choices to find the perfect fit is easier said than done. Nonetheless, one way to narrow down the right choice is to consider some indispensable features:
1. Candidate Sourcing
According to popular studies, on average, it takes anywhere between three to four weeks to fill open positions, with an average cost per hire of $4,425.
Considering this is a significant investment of time and money, manually looking for suitable candidates may be tedious. An RMS enables job postings on social media, job portals/boards, and other channels. This broadens the recruiter’s reach and helps find the perfect match for any role.
AI-based candidate matching algorithms offer customized searches based on job role, years of experience, geographic location, and more. The advanced search capabilities of RMSs eliminate the need for complex manual searches. An RMS allows analyzing resumes based on job titles, experience, skill sets, and more to streamline the shortlisting process. It also directly promotes jobs on social media channels and increases visibility.
2. Applicant Tracking System
An RMS helps centralize the application information of all candidates, including their personal and professional details, skill sets, and experiences. Potential candidates can be organized more efficiently through an RMS that allows tracking communication, parsing resumes, and offering access to a ready talent pool.
An RMS also facilitates the applicant tracking system without requiring human intervention to sift through piles of resumes manually. Recruiters can track the progress of each application and provide real-time updates to candidates on the process status. Furthermore, since data is accessible to all team members, there is more collaboration and a shared understanding among stakeholders.
3. Pre-Employment Screening
An RMS helps recruiters identify candidates who meet the selection criteria and fit the role well. The overall recruitment process can be accelerated with a smoother pre-employment screening of candidates with the help of cognitive assessments and behavioural evaluations. The RMS allows us to schedule and manage these assessments seamlessly.
4. Offer Management
An RMS helps create and manage personalized, timely, and precise digital offers for every position and role. Once the candidate is finalized, the RMS’s built-in templates help create or customize offer letters, resulting in professional and compelling offers that enhance acceptance rates.
5. Managing External Recruiters
It is possible to manage external recruiters easily with an RMS by granting them access to the software and enabling them to seamlessly add candidates without any complications or challenges. This simplifies the process for vendors, empowering them to directly contribute candidates to your system with ease and efficiency.
Effortlessly manage external recruiters by granting them access to our recruitment software, enabling them to seamlessly add candidates without any complications or challenges. Simplify the process for your vendors, empowering them to directly contribute candidates to your system with ease and efficiency.
6. Onboarding
The most crucial process (once a candidate is recruited) is onboarding.
In an oft-referred-to study for Glassdoor by the Brandon Hall Group, it was found that a robust onboarding process improves new employee retention by 82%.
An RMS (Recruitment Management System) offers the best way to streamline the onboarding process by monitoring the selected candidate’s progress. It can send automatic alerts to new hires, prompting them to complete online forms related to benefits, compliance, confidentiality agreements, etc. An onboarding portal within the RMS ensures a seamless experience for candidates, enabling them to complete necessary documentation and tasks effortlessly.
7. Business Reporting
A robust RMS provides comprehensive reports that facilitate data-driven hiring decisions. Recruiters can leverage advanced analytics to gain actionable insights into the status of interviews, offer acceptance rates, and other recruitment metrics.
The Recruitment Management System Benefits
Now that we know which features to look for in an RMS, let’s look at some central benefits of a Recruitment Management System:
1. Reduces Hiring Time
A good RMS takes care of applicant tracking as well as resume shortlisting. This includes screening resumes, monitoring applicant statuses, scheduling interviews, and providing progress updates—all accomplished in a fraction of the time it would take manually.
With an RMS, recruiters can prioritize their time effectively, dedicating resources to sourcing, which is a critical step in the recruitment process. The advanced search capabilities of an RMS help reach unexplored talent pools, thereby improving the quality of hires.
2. Enhances Staff Productivity
Conventional recruitment methods often involve tedious paperwork. Automated solutions like RMS allow recruiters to rest easy and utilize their time more efficiently. With an all-in-one RMS, it is possible to automate job postings, look for candidate data, and streamline the entire recruitment lifecycle. This frees up recruitment teams’ time to focus on essential activities such as creating candidate profiles and crafting compelling job descriptions that require significant time and effort.
3. Improves Candidate Interaction
Long and complex application processes can deter candidates from completing their applications. Conversely, a seamless and user-friendly RMS that offers easy application portals and regular updates with smooth onboarding can make the organization stand out. Personalized email campaigns nurtured through an RMS can make candidates feel valued and engaged throughout the process.
4. Facilitates Compliance
Adhering to employment laws and regulations is critical for every organization. An RMS helps to stay compliant by capturing and storing candidate data securely. It simplifies documentation, including confidentiality agreements, background checks, and legal forms, ensuring that all necessary information is collected and retained in a centralized location.
Key Takeaways
An RMS is a game-changer for modern recruiters and hiring managers. It simplifies the hiring process, enhances the candidate experience, and improves overall recruitment outcomes.
By leveraging automation, advanced search capabilities, and analytics, recruiters can attract and onboard top talent more efficiently. An RMS is one of the best ways for organizations to stay ahead in the talent game!
Looking for an RMS that attracts, assesses, and onboards top-notch talent seamlessly? Akrivia HCM is the perfect fit!
