Technological solutions implemented by recruitment firms are playing bigger, more critical roles in the recruitment process. It is not a surprise to learn that boardroom executives, especially those who do not regularly conduct hands on participation in the daily grind at the recruitment agency, are turning their eye on the recruitment software as recruiters depend on it to perform front-end activities that are important to the recruiting process but can be completely automated.
The economy has gotten most firms in a tight fix. They struggle to keep themselves afloat while scrambling for the best talent who can fulfil their organization's goals. Shockingly, even with candidates becoming more educated, there is a huge shortage of employees who've got the abilities that businesses are looking for, prompting a huge competition in the job market for employers and recruiters. Nonetheless, you know they can not simply make a nutty dash for the best employees. This will only lead directly to bad calls by the hiring department and less-than-satisfied workers who, disappointingly, cannot deliver.
While the recruiter understands the importance of using recruitment software based primarily on his experience, the executive requires facts and numbers to strengthen the argument for it. After all, a recruitment database for a recruiting agency is a significant investment. It is like land, gold or stocks for every other investor. The better you invest in software, the more that you will gain. There are several factors that influence the return on investment (ROI) of this sort of software, including the following:
- It increases the productivity of each recruiter by automating ordinary tasks such as filing and organizing records, writing and sending regular mails and scheduling correspondences. In this manner, recruiters can spend some more time on more meaningful activities.
- It performs dreary activities, for example sorting CVs, which usually takes a couple of days for human recruiters to do. This suggests the usage of technology can easily lessen the time-to-hire and cost-per-hire metrics used in figuring out recruitment software ROI.
- It provides a routine that helps recruiters create pre-hiring assessments to reduce the prospects of hiring applicants who are less qualified and let recruiters focus upon building good candidate relations, therefore contributing to the increase of quality-of-hire.
- It minimises, if not absolutely disposes of, the use of paper and manual labour, thus decreasing overhead costs.
The easiest way to figure out your ROI is to divide the profits by the overall cost of investment. Of course, there are other factors that may affect this number, but there are a few online ROI calculators you can use at no charge at all. Seeing the numbers is less complicated for the higher ups to have a look at the bigger picture and gauge the value of recruitment software for your firm.
The economy has gotten most firms in a tight fix. They struggle to keep themselves afloat while scrambling for the best talent who can fulfil their organization's goals. Shockingly, even with candidates becoming more educated, there is a huge shortage of employees who've got the abilities that businesses are looking for, prompting a huge competition in the job market for employers and recruiters. Nonetheless, you know they can not simply make a nutty dash for the best employees. This will only lead directly to bad calls by the hiring department and less-than-satisfied workers who, disappointingly, cannot deliver.
While the recruiter understands the importance of using recruitment software based primarily on his experience, the executive requires facts and numbers to strengthen the argument for it. After all, a recruitment database for a recruiting agency is a significant investment. It is like land, gold or stocks for every other investor. The better you invest in software, the more that you will gain. There are several factors that influence the return on investment (ROI) of this sort of software, including the following:
- It increases the productivity of each recruiter by automating ordinary tasks such as filing and organizing records, writing and sending regular mails and scheduling correspondences. In this manner, recruiters can spend some more time on more meaningful activities.
- It performs dreary activities, for example sorting CVs, which usually takes a couple of days for human recruiters to do. This suggests the usage of technology can easily lessen the time-to-hire and cost-per-hire metrics used in figuring out recruitment software ROI.
- It provides a routine that helps recruiters create pre-hiring assessments to reduce the prospects of hiring applicants who are less qualified and let recruiters focus upon building good candidate relations, therefore contributing to the increase of quality-of-hire.
- It minimises, if not absolutely disposes of, the use of paper and manual labour, thus decreasing overhead costs.
The easiest way to figure out your ROI is to divide the profits by the overall cost of investment. Of course, there are other factors that may affect this number, but there are a few online ROI calculators you can use at no charge at all. Seeing the numbers is less complicated for the higher ups to have a look at the bigger picture and gauge the value of recruitment software for your firm.
About the Author:
Jane Clements - eBoss Recruitment DatabaseFor more information, please visit www.eboss.co.uk.