Using an Applicant Tracking System (ATS) in your small to medium sized business can help improve your recruitment strategy and build a strong talent pool. BluePrint CPAs breaks down the ATS meaning and benefits. Attracting and retaining the right talent remains one of the top challenges for recruiters and hiring managers in Canada. Finding the right person for the role can be time consuming and costly if you hire the wrong candidate.
This is one of the main reasons why 75% of hiring teams use some form of an applicant tracking system (ATS). Most recruiters say that using an ATS has increased the speed and improved the quality of the candidates that they have hired.
You do not need to be a Fortune 500 company to start using an ATS, small-medium sized businesses can realize the benefits of using these tools. Whether you are a manufacturer from Windsor-Essex or Chatham-Kent with 20 employees or a life science company with 50 employees in London, there are many benefits to using an ATS.
“A modern recruiter is one who is targeted, builds relationships and knows how to not only find candidates but also get them to respond.” — Stacy Donovan Zapar
1. Time
The average time to fill a role varies by industry. A recent study has shown that Healthcare and Manufacturing roles can take up to 28 days to fill. Using an applicant tracking system can help your organization reduce this time by 48%.
2. Cost
Have you ever hired the wrong candidate for a role? If you have, you are not alone. Almost 75% of recruiters have said they have hired the wrong person for a role.
While it is something that is common, it is very costly. What may be surprising is that the cost of a bad hire is estimated to be approximately $15,000. Using an ATS helps to increase the chances of your organization hiring the right candidate and avoiding the cost of employing the wrong one.
3. Quality
Using an ATS not only helps to increase the volume of candidates applying to roles, but it also increases the ability for your hiring managers to engage with potential candidates. A higher level of engagement helps to improve your employer brand. Having a reputation for engaging with candidates helps your organization to attract highly talented individuals who value an organization that cares.
4. Analytics
What is your time-to-hire? Cost-per-hire? Source-per-hire? Applicants per hire? Applicant Completion/Abandonment Rate?
Do you know the answers to these questions?
If not, this is another reason to use an ATS. Measuring these key recruitment metrics can help your organization understand what it is doing right and doing wrong in its current recruitment process. Using an ATS to track the performance of your recruitment process can help you update your policies and attract stronger talent.
5. Compliance
Navigating employment laws can be difficult in Ontario. Using an ATS can help your organization to ensure you are compliant with the latest laws and ensure that you are using fair hiring practices.
“Acquiring the right talent is the most important key to growth. Hiring was - and still is - the most important thing we do.”— Marc Bennioff
What are your costs when hiring a new employee? How do you track the success of your current recruitment process?
Having an applicant tracking system does more than help you to answer these questions. An ATS helps you to begin developing a recruitment strategy that ties into your overall talent strategy.
The proper use of an ATS can help your organization attract the right talent and grow to meet your overall business objectives.
BluePrint CPAs helps early-stage life science firms grow their businesses and ensure that staff are well trained and engaged to maximize the financial value of their business. Book a consultation today.
Rebecca is a Web Designer at BluePrint CPAs. She is a graduate of St. Clair College’s Internet Applications and Web Development Program and has worked as a freelance web designer before joining the BluePrint team.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Kit Moore, is an entrepreneur that simplifies digital strategy for other business owners. The team at BluePrint CPAs can assist you with web design, development, analytics, management systems and, more importantly, your overall business strategy. The toughest part of digital transformation is re-training your team - and we have pros to help with that as well.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Kit Moore, is an entrepreneur that simplifies tax and financial strategy for other business owners. The team at BluePrint CPAs can assist you with financial technology, tax strategies, mergers & acquisitions, succession & exit planning and, more importantly, your overall business strategy.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Joe is a Senior Associate, Strategy Consulting at BluePrint CPAs. He is a recent graduate of the MBA Program at the Schulich School of Business and has most recently worked for Bayer Inc and the Ford Motor Company of Canada. His experience in marketing, sales, and human resources spans various industries including hospitality, logistics, life sciences and automotive manufacturing. Joe loves working with entrepreneurs to develop their digital strategies and help them grow their business.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
