Organisations across the world are incorporating technology into routine operations at a frenzied pace.
In a microcosm, entire departments are seeing the most impact as they improve productivity, efficiency and general functionality. Human resources and staffing teams are no different, as they’ve both embraced the potential benefits of digitising recruitment.
With 2018 on the horizon, there’s no better time to revamp your strategy. Here are three of the most popular benefits that come with integrating a digital recruitment platform:
1. Gather human capital analytics
Big data is incredibly popular in industries that require great attention to detail, such as logistics. The information gathered can help generate valuable insights on how to cut costs or optimise routes. But the same principles apply to recruitment.
Recruitment software can help improve profit margins.
Finding the right candidate to fill a position shouldn’t rely on guesswork. By gathering information on what qualifications and other factors lead to short or long-term retainment, companies can optimise their hiring process to make better informed decisions with each job opening.
Recruitment software like applicant tracking systems have helped businesses cut labour-related expenses by roughly 7 per cent and improve profit margins by 2.75 per cent on average, according to research from the McKinsey Global Institute.
2. Improved training methods
Ineffective onboarding can limit even the best hires in terms of their potential. The information and processes being explained aren’t the only factors in sub-optimal training – the platform being used to relay everything also plays a role.
Digitisation has brought managers a number of tools to develop more useful educational strategies. Some recruitment platforms include onboarding software specifically designed to help staffing agents and recruiters get up to speed as quick as possible.
Specificity is the key, as a blanket process for onboarding simply won’t be effective for every member of the company. Google, for instance, develops its own applications for helping new hires in certain positions acclimate, and see a 15 per cent boost in productivity as a result, McKinsey reported.
3. Keep up with changing industry
As more jobs with unique qualifications enter the market – especially in technology-based roles – recruiters and staffing organisations will find themselves at a disadvantage if they continue to rely on conventional strategies. Candidates that match companies’ needs will be in high demand and difficult to come by.
Given that the majority of potential applicants will likely be millennials or younger, there’s a growing sentiment that businesses will need to be able to connect digitally through multiple channels with them, according to Ernst & Young. Recruitment software gives recruiters the ability to connect with candidates in a number of different ways. Contact a FastTrack representative today to learn more.