According to Forbes, 38% of employees With many employees leaving within the first year, companies are spending around 33% of their salary to replace them. That’s a huge loss due to turnover, making it more important than ever to hire the right candidates.
There’s a misconception that only large companies have the staff and financial resources to purchase specialized HR software like applicant tracking systems. However, this couldn’t be further from the truth.
The reality is that modern businesses rely on the efficiencies that an ATS can provide, whether they’re running a small business, a startup, a mid-sized company, or a large Fortune 500 company. In fact, the technological advancements evident in ATS software can benefit businesses in every industry, from financial services and pharmaceuticals to manufacturing and staffing.
Let’s take a closer look at how ATS can benefit different industries.
The Importance of an Effective Applicant Tracking System
A quality ATS does more than accept job applications. It enhances the recruiting process by providing automation and data-driven insights. It keeps recruiting teams aligned and managers informed, and reduces the obstacles recruiters face in finding the perfect new hire.
Enterprise-level Talent Acquisition ATS Solution
pictureCorporate level With a wide range of job descriptions and a high volume of applicants, HR teams can easily face a heavy workload.
Because companies may hire tens of thousands of employees across different regions, departments, and product lines, recruiting teams have a lot of work to do to find the best candidates for open positions. With the help of an ATS, recruiting team members can manage multiple job titles, fluctuating hiring processes, and large volumes of resumes.
These ATS features include:
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Automate time-consuming tasks like scheduling interviews and conducting initial video interviews.
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Parse resumes and sort and filter top candidates based on location, work history and skills.
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A unified candidate database for teams to collaborate on recruiting efforts.
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Real-time metrics reporting that provides visual insight into the recruiting process from top of the funnel to onboarding.
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Recommend skills-based job openings to job seekers interested in your organization.
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Messaging features to engage with potential candidates through various channels.
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DEI-specific features like blind resumes remove unconscious bias from the application process.
For your company, your ATS is likely just one component of your overall HR software ecosystem — it will interface with other systems like your HRIS — but investing the time into a quality ATS solution will improve your recruiting process and candidate experience.
Streamlining recruitment in financial services
In 2023, 84% of CEOs He had been optimistic about the employment situation, but confidence appears to have eroded somewhat as layoffs surged, with the economy beginning to feel the effects as technology and fintech companies restructure.
However, the financial services industry is well placed to benefit from these changes as highly skilled talent fits into the organisation. The challenge is how to attract the top talent that will transform the industry.
An ATS allows you to position your employer brand in a positive way and reach potential candidates who didn’t know you were looking for them. Outreach tools via email, career sites, and LinkedIn can be seamlessly integrated with an ATS, creating an all-in-one platform for launching your recruiting campaigns.
Financial services professionals will be familiar with the concept of CRM in sales, but recruiting can also leverage CRM to maximize outreach and candidate tracking efforts, including engaging with potential employees across multiple channels through a single, easy-to-use dashboard.
In addition to outreach, the best ATS software like Gem also supports strong security and compliance features to keep your candidate data compliant with government regulations. It also allows for advanced filtering, sorting, and the creation of candidate scorecards to help you find candidates with the qualifications you need.
Strengthening Talent Acquisition in Life Sciences
When people think of science, they immediately think of the lab. R&D is definitely part of the lab, but Life Sciences IndustryBringing medical devices, medicines, healthcare products and life-saving treatments to market involves far more moving parts.
Hiring for this industry is particularly challenging due to the high level of specialization, often requiring graduate degrees, medical licenses, special sales certifications and even security clearances. To say recruiters have their hands full in these industries would be an understatement.
An ATS helps HR professionals fill these advanced roles by building seamless partnerships with universities and hospitals, streamlining location-based recruiting efforts, and providing customizable recruiting pipelines for specific job openings. These tools make building the necessary relationships with potential candidates and unique candidate sourcing channels more accessible to the average HR professional.
Additionally, an ATS like Gem can help address the obvious diversity issues that exist within the industry.
Gem is a diversity-focused ATS provider that helps life sciences recruiters achieve their DEI goals with specialized tools designed to eliminate implicit bias, helping them grow their talent pool effortlessly and effectively. Try the demo See Gem’s ATS in action today.
Modernizing Manufacturing Recruitment
Modern Manufacturing The factories of our grandparents’ time are no longer here: we have far more advanced assembly lines, new manufacturing processes, innovative materials, and technologies that may once have been considered science fiction.
Unfortunately, the public perception of manufacturing is of old, dirty, dingy warehouses, which can lead to talented candidates flocking to better understood (though not necessarily superior) industries, such as retail. An applicant tracking system can help you attract more candidates and keep them in your hiring pipeline.
ATS software changes perceptions of the industry by automating time-consuming steps like evaluating job applications and allowing recruiters to have more meaningful interactions with potential candidates. Applicant tracking software makes it easier to fill high-volume job listings, automating much of the process and leaving the final, and most important, hiring decision to human hiring managers.
ATS Integration for Staffing Agencies
As well as some roles in business and manufacturing. Staffing agency You have to balance the recruiting processes for multiple organizations with a wide range of job demands. And just like in the enterprise and manufacturing industries, an ATS is truly the best tool for the job.
ATS systems, especially cloud-based solutions, offer flexibility and affordability to accommodate an agency’s ever-changing workflow. Plus, an ATS makes it much easier to process large volumes of resumes and applications, allowing the typical agency to get more done with less stress.
A good applicant tracking system also integrates with additional tools like email and social media to expand its reach, helping you attract top talent no matter what your job posting is. Having a centralized platform streamlines communication with hiring managers and shortens time to hire.
Automation and CRM: A Game Changer in Recruiting
In addition to recruiting software, another groundbreaking platform is Candidate Relationship Management system or CRM. This key technology works well with your ATS to enhance your automation and outreach efforts.
These tools are especially useful in highly specialized industries, such as life sciences and manufacturing, where recruiters often seek out candidates through outreach. Plus, personalization goes far beyond static templates, building more meaningful connections between employers and candidates.
Automation streamlines several tasks functionally, including:
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Interview schedule and offer letter notification
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Evaluate candidate profiles to find the best fit
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Tag and filter candidates for further evaluation
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Sending follow-up correspondence to candidates
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Record your interactions with candidates in CRM
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Update job listings and job boards such as Indeed with new information
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Post job listings and engage with users on social media platforms
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Collect candidate information from career page and mobile app visitors
AI and Machine Learning By becoming more intelligent, talent management systems and CRM platforms have a nearly limitless number of ways to help recruiters. With the help of these tools, recruiting teams can make faster, better decisions.
Drive adoption with data and insights
Applicant tracking systems work using AI and machine learning. These systems help identify potential candidates, organize applications, and recommend next steps depending on the data. Data analysis is a critical component of an advanced ATS system, but bad data can undermine your efforts.
Investing in high-quality candidate data, data enrichment, and proper data collection can help prevent bad data from negatively impacting the models that drive decisions. Luckily, ATS and CRMs are goldmines of quality data. Implementing these systems can eliminate issues with manual entry, identify biased hiring practices, and improve data-driven decision making.
Power your recruiting with Gem’s sourcing and CRM solutions
The best applicant tracking systems aren’t just for large corporations. Every business, from small businesses and startups to large multinational conglomerates, can benefit from the recruiting tools found in modern ATS software.
To maximize the effectiveness of your ATS, pair it with a CRM to ensure no candidate interaction is missed. Gem’s ATS and CRM package provides recruiters with an all-in-one solution for the unique recruiting needs of any industry. Request a demo now Explore all that Gem has to offer.
