Recruitment Technology: Improve End-to-end Hiring

In recent years, recruitment technology has changed the way companies find, screen, and bring new employees. From using AI to match candidates to screen resumes, recruitment technology has made the hiring process faster, more efficient, and less likely to go wrong. In fact, according to the Society for Human Resource Management, over 75% of organisations use recruitment technology to assist with their hiring efforts. That's expected to increase significantly. 

According to a recent study, the global recruitment technology market is expected to grow at a rate of 7.68% per year until 2028, when it will be worth $230.47 billion.

This article will explore common recruitment technology tools and how they can help HR managers work more efficiently. 

Top 10 Recruitment Technology Tools to Improve Hiring Workflow

Organisations have access to several Talent Acquisition Software and Tools to choose from to fit their specific needs. From AI recruitment technology to IT technologies lists for recruiters, organisations need to stay up-to-date with the latest recruiting technology trends and advancements in technology in recruitment and selection.

With AI playing a more significant role in the hiring process, organisations must embrace the latest talent acquisition process and strategies and hiring technology to stay ahead of the curve. Whether it's selecting the best recruiting technology, utilising the newest recruitment technology tools, or keeping up with the latest hr technology, the possibilities are endless. 

Recruiters use recruitment technology globally to streamline and automate various aspects of the hiring process for growth:

1. Applicant Tracking Systems (ATS)

An Applicant Tracking System is a central database where information about candidates is kept and managed. It helps recruiters keep track of applicants, talk to them, and make hiring decisions based on accurate information.

2. Recruitment Advertising Platforms

The platforms for Recruitment Marketing help companies promote their employer brand and attract potential candidates through several channels, such as job boards, social media, and email campaigns. 

3. Video Interviewing Software

Video interviews let recruiters check out a candidate's communication skills and personality from afar. In the early stages of hiring, this can save time and effort.

4. Employee Referral Software

Employee referral software makes it easy for employees to refer their friends and network for job openings. 

5. Pre-Employment Assessment Tools

Companies can use talent assessment tools to figure out if a candidate is right for a job by looking at their skills, abilities, and personality traits.

6. Onboarding Software

Onboarding software helps companies streamline the process of getting new hires up to speed and integrated into the company culture.

7. Diversity and Inclusion Tools

Diversity and inclusion tools help companies make sure that their hiring process is fair and inclusive and that they get a wide range of applicants.

8. Automated Resume Screening

The Resume Parser tool scans resumes quickly and removes the ones that don't meet the company's requirements. This saves recruiters time and makes it easier for them to focus on the best candidates.

9. AI-Powered Candidate Matching

AI algorithms can look at a candidate's skills, experience, and interests to find a job that fits them. This can help find better matches and make it more likely to hire the right person for the job.

10. Recruitment Chatbots

Recruitment Chatbots can answer candidates' common questions and tell them about the company and open positions. This can improve the candidate experience and help get them more involved.

These are some of the most common recruitment technology tools used in the hiring process. Depending on the goals and needs of a company, they may use one or a combination of these tools to enhance their recruitment process.

7 Key Considerations When Choosing Recruitment Technology

Selecting the right technology is crucial in ensuring an efficient recruitment process. To make a well-informed decision, you should consider several essential factors that will help you find the best solution for your organisation. These factors include:

1. Check an alignment with your recruitment advertising strategy

Choosing a recruitment technology that aligns with your overall recruitment advertising strategy is important. For example, if you're using programmatic job advertising to target specific groups of candidates, you'll want to choose a technology platform that supports this approach.

2. Ease of use and user-friendliness

The recruitment technology you choose should be easy to use and user-friendly so that you and your team can easily post job advertisements and manage applications. Look for a platform with an intuitive interface and clear instructions so that you don't waste time figuring out how to use it.

3. Level of support and customer service offered by the technology provider

Look for a technology provider that offers excellent customer service and technical support so that you can get help quickly if you run into any issues. This is especially important if you're not very tech-savvy and need help with the platform.

4. Ability to reach a specific group of potential candidates

Some recruitment technologies allow you to target specific groups of potential candidates, such as those with certain skills or experience. This can be a great way to ensure that your job ads are seen by the right people.

5. Compatibility with your existing HR tools and systems  

Make sure that the recruitment technology you choose is compatible with your existing HR tools and systems, such as your applicant tracking system (ATS) or HR management software. This can save you time and hassle in the long run.

6. Cost-effectiveness and value for money

Recruitment technology can vary widely in cost, so it's important to choose a cost-effective platform that provides value for money. Look for a technology provider that offers transparent pricing and no hidden fees.

7. Data and analytics capabilities to measure your recruitment efforts

Finally, it's important to choose a recruitment technology that provides data and analytics capabilities so that you can measure the success of your recruitment efforts. These hiring and recruitment metrics can help you fine-tune your recruitment advertising strategy and make better hiring decisions in the future.

5  Major Benefits of Recruitment Technology in the Hiring Workflow

Recruitment technology is becoming a more popular tool for companies that want to improve their hiring process. Companies can find and hire top talent quickly, effectively, and with fewer mistakes with the help of different technologies. 

There are many good reasons to use recruitment technology, and both recruiters and job seekers can benefit from it. Recruitment technology is a must-have for any company that wants to stay ahead in the competitive world of talent acquisition. It can help improve efficiency, give valuable data insights, improve the candidate experience, or cut costs. Here are some advantages:

1. Hiring technology Increases efficiency

Recruitment technology makes the hiring process more efficient by automating time-consuming tasks like reviewing resumes and communicating with candidates. This lets recruiters focus on the most important parts of their jobs. It also gives valuable data and analytics that can be used to improve the hiring process by keeping track of key recruitment metrics.

2. Recruitment technology Improve candidate experience

Indeed, Talent acquisition technology can provide a more seamless and convenient experience for job seekers by allowing them to easily apply for jobs, track their application status, and receive timely updates and communication from recruiters.

3. Access to a wider pool of candidates

Recruitment technology can expand the reach of job ads, allowing recruiters to access a larger talent pool of candidates from different geographical locations and backgrounds. This helps to increase diversity and inclusivity in the hiring process.

4. Better data insights with tech recruiting tools 

Recruitment technology gives recruiters valuable data insights, such as which job ads get the most applicants, which sources provide the best candidates, and how long the hiring process takes. Recruiters can use this information to make smart choices and improve the process of hiring.

5. Recruitment technology tools save hiring cost

Recruitment technology can help cut costs because it can replace manual processes and paper-based systems. It can also help cut down on the time it takes to hire someone and the number of people who leave a job, which can save money in the long run.

How to Measure the Success of Recruitment Technology?

When companies use recruitment technology to help with hiring new employees, they want to know if it's working well. Here are some of the essential recruiting KPIs to measure the success of this technology:

1. Time to Hire 

Measuring the time it takes to hire a candidate is crucial in determining the efficiency of the recruitment process. Recruitment technology can streamline the hiring process by automating some steps, such as candidate screening, scheduling interviews, and communication. A decrease in the time to hire indicates that the recruitment technology is working well and saving the company time and resources.

2. Cost per Hire 

The cost per hire is the total cost incurred by the company to hire a candidate, including all expenses such as advertising, recruitment software, HR staff time, etc. Recruitment technology can help reduce the cost per hire by automating certain tasks and eliminating the need for manual labour. By measuring the cost per hire, companies can determine if their recruitment technology is cost-effective and provides a positive return on investment.

3. Candidate Quality

Measuring the quality of candidates hired is critical in determining the effectiveness of recruitment technology. Recruitment technology can help identify the best-fit candidates by using AI to match job requirements with candidate profiles, sourcing talent from various channels, and reducing biases in the hiring process. Companies can measure the performance and retention rate of hires made through recruitment technology to see if candidates' quality is improving.

4. Diversity 

Measuring the diversity of candidates hired is important to ensure that the hiring process is inclusive and promotes equal opportunities. Recruitment technology can help increase diversity by removing biases in job descriptions, using AI to screen resumes and sourcing candidates from a wide variety of platforms. Companies can tell if their recruitment technology is doing a good job of promoting diversity and inclusion in the hiring process by looking at the types of people they hire.

5. Candidate Experience

Candidate experience refers to the ease and satisfaction of the application process. Recruitment technology can provide a more efficient and streamlined application process with features such as mobile-friendly applications, automated follow-ups, and easy communication. 

By measuring candidate satisfaction with the hiring process, companies can see if their recruitment technology improves the employer brand by giving candidates a good experience. 

6. Employee Retention

Measuring employee retention is crucial in determining the long-term success of recruitment technology. Recruitment technology can help identify the best-fit candidates for a job, resulting in higher retention rates. By looking at employee retention rates, companies can tell if their recruitment technology is helping them find better hires and get their employees more involved.

By measuring these factors, companies can determine if their recruitment technology is working well and making the hiring process more efficient and effective.

Best Practices for Implementing Recruitment Technology

• Start by making sure you know what you want and need from a job candidate. Find out which recruitment technology tools will help you reach your recruitment goals and help your organisation the most.

• Make sure that the technology is easy to use and that all employees involved in the hiring process can get to it. Think about giving your employees online training sessions or webinars to help them get used to the new technology.

• Make sure that the technology works with the HR software you already have, like your Applicant Tracking System, candidate database management, and payroll system.

• Make sure privacy and security measures, such as access controls and data encryption, are in place.

• Work closely with the technology provider to set up and configure the system to your needs and preferences. This includes setting up custom fields, automating some recruitment processes, and making email templates and custom reports.

• Regularly look at how well the technology is working and keep making changes to it to make sure it fits your changing recruitment needs.

• Inform candidates and other important people about the new technology and clarify how it will improve their recruitment process.

• Give your employees ongoing support and training to make sure they can use technology well and get the most out of it.

• Invest in a technology infrastructure that is reliable and scalable to make sure that the technology can keep up with the growing needs of your recruitment process.

• Keep up with the latest recruitment industry trends and best practices to make sure that your recruitment technology is always up-to-date and working well.

Final Thought on Recruitment Technology

The use of recruitment technology has revolutionised the way companies approach hiring. These tools have become an indispensable part of the recruitment process, from streamlining the application process to providing valuable insights on potential candidates. 

By leveraging hiring technology, companies can identify the right candidates more efficiently and effectively, leading to better hires and a more productive workforce. Investing in recruitment technology is crucial for companies looking to stay ahead in today's highly competitive job market. 

So, are you one of those recruiters or HR who want to enhance your recruitment process and elevate positive candidate experience? 

If so, then look no further than iSmartRecruit’s AI Recruitment Technology Platform, which will help you smoothly conduct the entire workflow, from sourcing the potential talent to hiring the most suitable candidate. Book a Free Demo Now!