Streamline Recruitment Life Cycle: The Ultimate Tech Stack
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Recruiting suitable candidates for your organization is a critical task that requires careful consideration and planning. To make the process easier and more efficient, many companies rely on technology solutions like a tech stack to streamline their recruitment life cycle.
Since November 2021, when about 4 million people quit their jobs, the “great resignation” has been on the minds of many IT firms and the business leaders that run them. As a direct result, hiring bright individuals in the technology field is now a lot more challenging than before.
Will 2023 be the year that breaks free from this pattern, recruiters all around the world wonder. Rather than waiting for the tide to change, it would be best if you considered stepping up your game by investing in a recruitment tech stack that will turn heads and help you attract the finest talent.
You can streamline your whole recruitment life cycle, develop a strong brand memory, and get potential applicants excited about working for your firm if you use the correct mix of recruiting software. Considering this, let’s look at what tech stacks are and discuss how to select one that meets all your requirements.
What is a recruitment tech stack?
The use of tech stacks by companies operating in a wide variety of sectors has seen significant growth in popularity over the past few years. In the context of a recruitment firm, the term “tech stack” refers to a collection of software applications designed to assist in recruiting candidates. These applications may include but are not limited to applicant tracking systems (ATS), client relationship management (CRM), and other similar programs.
A tech stack enables organizations to considerably increase their operational efficiency, allowing them to expand the size of their businesses. This is made possible by the ability to automate a number of the procedures involved in the recruiting process.
Organizations must devise strategies to set them apart from the crowd in a market that is becoming increasingly competitive. Investing in technologies now on the cutting edge is a potential answer. By assembling a recruitment tech stack, recruiters can gain an advantage over their competitors by standardizing their day-to-day operations and enhancing the candidate experience.
A tech stack enables recruiters to significantly increase their operational efficiency, allowing them to expand the size of their businesses. This is made possible by automating various steps in the recruiting process, such as applicant tracking and scheduling interviews. In addition, it paves the way for business analytics and development by enabling the team to monitor their growth and performance.
How to build the ultimate tech stack for a streamlined recruitment
Here are some tech solutions to consider when creating your talent acquisition tech stack after we’ve covered some crucial points to keep in mind while assessing software.
- Applicant Management System (ATS)
The cornerstone around which you will build your tech stack is an ATS. Your talent acquisition program’s system of records is housed on this platform. You may handle the hiring process for all your requisitions using it as a repository for applicants, and it complies with compliance standards for record keeping.
You may build branded career webpages and landing pages with some ATS systems so that candidates can learn more about your business, look for job openings, and even apply for positions. To enhance application conversion rates, look for a platform that provides a “fast apply” function that enables prospects to submit applications with just a few clicks, even from mobile devices. The applicant experience can be streamlined, and time-to-fill decreased with the help of AI-powered keyword scanning, approval procedures, candidate and hiring manager notifications, offer letter production, and other automated capabilities that may be available on ATS platforms.
- AI Sourcing tool
Using sourcing parameters, you’ve previously provided, such as current or prior job titles, firms, diverse qualities, industry experience, AI-powered sourcing tools assess, sort, and rate talent on the open web. To locate people that meet your employment needs, algorithms comb through resumes, social media profiles, and other data sources. In addition to accelerating your search and decreasing the manual, repetitive work for recruiters, this enhances your pool of potential candidates.
As AI sourcing looks for what you’ve specified and ignores other criteria like color, gender, or age, it can also decrease bias. Examining the existing employee profiles within a company to identify great fits for the open roles may also be applied to internal candidates.
AI can enhance the applicant experience if it is properly built. There are, however, some automation-related dos and don’ts. To catch prejudices or bad hiring experiences, proper testing at each stage and human monitoring will go a long way. Then you may halt and adjust your plan.
- Software for Candidate Relationship Management
Consider adding a candidate relationship management (CRM) system to your applicant tracking system (ATS) because many experts believe that the CRM may handle 70–80% of the hiring process. With this recruitment marketing platform, recruiters may build talent pools based on skills, interest levels, and geographic locations. You can set your business apart from the competition by nurturing these applicants through automated recruiting emails, SMS messaging, and more with a CRM. You can do this to notify them of the status of their applications or to keep them interested until a suitable position becomes available. For a more engaging experience, communications can be tailored to the candidate.
A staggering 89% of candidates believe mobile devices are essential for job-search. Meet your candidates where they are, then search for mobile-first solutions to give your employer brand the consumer-like experience it deserves. Custom landing pages, careers sites, and event management tools are other things to consider if you have particular recruiting objectives.
- Hiring a Chatbot
To update the candidate experience, consider including a chatbot on your careers website or spending money on an applicant tracking system (ATS) with this feature. Chatbots use natural language processing as a conversational interface to screen candidates, respond to candidate questions, and schedule interviews. Some even let applicants track the progress of their applications. Handling some frequently requested questions from candidates lessens the workload on recruiters and hiring managers and allows them to concentrate on other tasks.
- Systems for Virtual Interview Management
According to a Gartner HR Survey, 86% of employers performed virtual interviews throughout the coronavirus epidemic, and this number isn’t going to go down as businesses bounce back. No matter where they live or how the demand for remote work changes, a dedicated virtual hiring solution can help you quickly hire the critical talent you need.
Modern job seekers anticipate a personalized, efficient, and convenient hiring process. Look for specialized virtual interview tools that give a variety of options for virtual interviews, such as on-demand phone interviews, text interviews, as well as live and previously recorded video interviews, rather than merely using video meeting tools. The applicant experience is improved, and time to hire is significantly decreased with the help of additional features like self-scheduling tools and automatic candidate progression tools.
- Virtual Evaluation Tool
The candidate review procedure can be accelerated by spending money on online tools for pre-employment screening. AI is a stylish choice that can assess writing samples, phone and video interviews, and responses to skills tests. To ensure you hire the best personnel, digital assessment systems use predictive analytics and machine learning to analyze candidates’ aptitude, personality, and abilities. As the AI concentrates on the content of the responses rather than the candidate or how they appear, this has the additional benefit of minimizing bias.
Platforms range from those that offer linguistic aptitude assessments to those that provide code evaluations for software development employment. Before choosing a tool, consider the assessment process from both the perspective of the candidate and the hiring manager.
- Employer analytics
Investing in a recruitment analytics platform gives you access to a single source of truth for your entire recruitment process, thanks to data flowing across your connected systems. These solutions will satiate your C-desire suites for information about your recruitment campaign, whether you want to track time-to-fill, DE&I initiatives, or overall talent acquisition performance.
To get the most out of your recruitment data, look for a solution with interactive dashboards that make it simple to monitor trends and slice visually and dice the data to uncover areas of opportunity. So that you have the data you need to make informed decisions, modern analytics solutions use artificial intelligence and machine learning to highlight insights, anomalies, and predictions.
Thanks to recent breakthroughs in this field, modern analytics solutions may now query your data using natural language. For instance, you may ask questions about your data in plain language using our Ask Affinix tool, powered by Amazon’s QuickSight Q, and quickly obtain accurate replies with pertinent visuals.
- Tools for Onboarding
A pleasant employee experience largely depends on the new hires’ onboarding process. It should include essential paperwork procedures for payroll, taxes, benefits, and other matters, as well as getting new hires acquainted with your organization and their position. If you frequently hire remote workers, consider using onboarding software to support and streamline the process. To ensure that candidates and hiring managers know all crucial stages, checklist features are provided. New hires can complete all initial activities and training modules at their own pace with the help of self-service tools. They won’t overlook any critical compliance training or regulations, and you’ll have proof that it was performed in the event of an audit.
To speed up your payroll processes, look for systems that allow your new hires to upload papers like signed employment contracts, tax forms, and right-to-work documents online. Additionally, it is essential that this interfaces with your ATS and HRIS platforms to maintain the accuracy of your personnel data and eliminate any manual processes that are vulnerable to human mistakes.
- Software for internal mobility
Career pathing and development are crucial for employee retention and reducing sourcing costs. A study of LinkedIn users revealed that lateral movers had a 62% likelihood of remaining with the organization, while those promoted within three years of employment had a 70% chance. The possibility of staying for individuals who didn’t make an internal shift is merely 45%.
An internal mobility platform enables you to advertise job openings internally first. It aids in finding current employees who could be qualified to transfer laterally or vertically into a new position. Find a platform that delivers a seamless experience by enabling you to post jobs to internal and public job boards and view internal and external candidates in the exact location, each with a unique ID. To shorten the time to fill positions and ease the administrative strain, the system should include automation, such as automatic invitation letters to qualified internal candidates.
Overall, the ultimate tech stack for a streamlined recruitment life cycle should include a combination of software solutions tailored to the specific needs of each organization. From sourcing and screening to onboarding and beyond, the right tech stack can help organizations save time and money while finding the best candidates for their open positions. Constructing a tech stack for recruitment is not as challenging as it may initially appear. You can create an efficient system for your organization using the suggestions in this article. Just keep in mind that the system should be adapted to your requirements.