By Joshua Siler, CEO at HiringThing, winner of Best SaaS Product for Recruitment category at 2022 SaaS Awards
For HR solution providers that offer tools to recruit and retain top talent, the needs of the job seekers looking for their next opportunity and the professionals hiring job candidates are essential. Ensuring both are satisfied with the interactions of your software enables recruiting success.
Those in the business of HR Solutions like Human Resource Information Systems (HRIS), Human Capital Management (HCM), Human Resources Management Systems (HRMS), Professional Employer Organizations (PEO), and Administrative Services Organizations (ASO) can make this ideal a reality with a private label applicant tracking system (ATS).
A private label ATS is purchased by a company from a SaaS provider and integrated into an HR Solution’s tech stack with robust, user-friendly solutions, including tailored workflows and single-sign-on capabilities. Organizations that enjoy the benefits of a private label ATS grow their businesses by meeting the needs of recruiters and job candidates. Candidate experience is essential. So is the experience of hiring professionals. A bump in one can affect the other, so it’s crucial to find a platform that ensures the process goes smoothly for both sides. That’s where the power of a private label applicant tracking system comes in. First, though, let’s establish the challenges an ATS helps the businesses HR Solutions serve overcome.
Hiring is Hard
Hiring is challenging, and it’s easy to see why—it’s complicated! Some of the top hiring challenges facing organizations today include:
- The time commitment: According to SHRM, the average time it takes to hire a new employee is 42 days, though best-recruiting practices recommend between two and four weeks (for those wondering: 28 days is four weeks). If the process takes longer than four weeks, data shows companies risk losing the best candidates to the competition. Yet, the average time to hire remains longer than the recommended timeframe because successful recruiting and interviewing require a significant time commitment (even for HR professionals).
- Keeping organized: An average of 118 candidates apply for a single role, while 20% move onto the interview round. Think about all the cover letters, resumes, and background research that entails.
- Communicating to all candidates: If there’s one aspect of hiring to emphasize in 2022, it’s the candidate experience. Candidates who have a bad experience are less likely to give an organization positive online reviews, refer friends, apply again for open roles, or even use the company’s products or services. A big part of the candidate experience is being open and transparent with job seekers. Many organizations struggle to communicate in a meaningful way with their hundreds of applicants.
- Keeping a steady flow of applicant tracking: It’s currently a job seeker’s market, meaning that many organizations are struggling to get qualified candidates to apply for their open positions and remain engaged throughout the hiring process.
Why a Positive Candidate Experience Matters
Creating a seamless candidate experience is vital for employers—candidate experience is certainly a buzz-word du jour for hiring professionals, but what does it mean?
The candidate experience is the series of interactions a job seeker has with a company throughout the entire recruiting process, starting with job seekers finding job postings and ending with a job candidate(s) accepting an offer. Elements of the candidate experience include:
- Your branded career website.
- Job postings (on job boards, social media, etc.).
- The job application process.
- Setting up interviews.
- The interview process.
- Notification about applicant status.
- Employer/candidate interactions.
- Candidate rejections or offers.
Why is the candidate experience so necessary for employers? According to CareerArc, 72% of job seekers said they’ve shared a bad candidate experience on sites like Glassdoor, social media, or their professional networks. A LinkedIn survey found that 83% of candidates who have a negative candidate experience change their minds about taking a role in a company they once liked, and 27% of candidates who had a negative hiring experience would “actively discourage” others from applying for jobs at the organization.
Conversely, 87% of job seekers said a positive experience could change their minds about a role or company they previously doubted.
What A Positive Candidate Experience Looks Like
So, what are the hallmarks of a positive candidate experience?
- It’s efficient: 60% of job applicants will abandon an application if it’s too complicated or time-consuming. Anyone recently on the hunt for a job will tell you that applying for new roles often feels like a job itself. While employers may like to think that candidates will do whatever it takes to get a position at their company, that’s simply not the case, and the more convenient the candidate experience, the better.
- It’s transparent: Job candidates want to know upfront how long the interview process will last, what it will entail, and what’s required of them. They want to know what the role looks like, the benefits, and the salary. And job candidates would rather know upfront if they aren’t being considered so they could stop investing their valuable time waiting around or following up.
- Communication is key: One of the top ways to give job candidates a positive experience is timely communication in a meaningful way. Interviews shouldn’t be a hassle to set up. Candidates shouldn’t go weeks without hearing from you, and even rejection letters should be positive.
How A Private Label ATS Can Help With Recruiting
An ATS simplifies the recruiting process on both ends, empowering recruiters and candidates. A private label ATS means clients will associate this simplified experience with the HR solution, increasing revenue, reducing churn, and driving HR systems’ business goals.
Private labeling an ATS entails the ATS provider and professional partner working together to customize a platform geared towards a client’s specific hiring needs. A private label ATS not only brands the entire ATS with an organization’s colors and logo but seamlessly integrates a robust, user-friendly ATS into their recruitment solutions. This allows systems to customize workflows, tailor messaging, and take advantage of single sign-on capabilities.
On top of that, recruiters and job seekers don’t need to jump platforms when they start a job application—a recruiter can escort a job candidate through the hiring process and then move straight into integrated onboarding without signing in and out of different programs. Conversely, job seekers can jump directly from wherever they found the job posting to the application, rather than jump from the posting to the company website to the application—to best grow their business, HR Solutions must employ an ATS that works to make recruiters and job seekers’ lives easier.
How A Private Label ATS Can Help Recruiters
Studies show an ATS will improve a company’s hiring process, with 86.1% of hiring professionals saying ATS adoption increases the speed at which they hire and 78.3% saying an ATS improved the quality of their hires.
Revisiting the recruiter challenges mentioned above, an ATS can streamline and strengthen those processes:
- The time commitment: An ATS can parse resumes and cover letters for keywords, disqualify non-qualified candidates, automatically send emails and interview requests, and be customized so that the workflow fits with your organization’s hiring goals. ATS adoption means no more sifting through hundreds of resumes, cover letters, and communications to find the candidates you want.
- Keeping organized: An ATS allows you to keep all candidate documents, documentation, and where they are in the candidate journey in one place. The organization is part of what helps you save time and provides candidates that great experience.
- Communicating to all candidates: Email automation means all candidates are aware of where they are in the hiring process. That’s key to keeping things organized and keeping candidates happy.
- Keeping a steady flow of applicant traffic: A good ATS can help organizations increase their applicant traffic. We just created The HiringThing Guide to Increasing Your Applicant Traffic to help you audit your current hiring process and make actionable changes to improve your flow of high-quality job candidates.
How A Private Label ATS Can Help Candidates
Just as an ATS makes the hiring process seamless for recruiters, it does the same for job candidates. Let’s revisit the pillars of a great candidate experience we’ve established earlier and see how an ATS can strengthen them:
- Efficiency: An ATS allows you to customize the job application process to suit the needs of your candidates. Job posting links, QR codes, and mobile-friendly applications mean it’s efficient for your job candidates to start the application from anywhere, in the manner that suits them.
- Transparency: An ATS allows employers to keep candidates well aware of exactly where they are in the interview process, even if it’s communicating disappointing news in a meaningful way.
- Communication: Communication is easy with an ATS—you don’t hear of a job candidate getting a rejection email five months after applying to ATS-using companies. Likewise, employers can effectively communicate the scheduling of interviews and collecting applicant collateral processes to job candidates.
Streamlined Integration = Streamlined Recruiting = Hiring Happiness®
The hiring process is stressful for recruiters and candidates alike. Anything HR Solutions can do to alleviate this stress for their clients adds value to their HR offerings. Integrating an ATS through private labeling enables seamless recruiting, which helps companies attract and keep top talent, satisfying both sides of the hiring process—a private label ATS can provide HR Solution clients and their applicants the hiring experiences they want and need.