Getting buy-in from C-suite budget holders can be challenging but the way recruitment is moving analytics and metrics are important for HR departments and recruitment leaders to give insights into your hiring efforts, as well as streamlining and centralizing your whole recruiting process.
Doing all of this can help save time and money, but how is it that you can prove the ROI for implementing Applicant Tracking Software (ATS) and drive real change in your company?
According to Deloite, 70% of change initiatives fail due to misalignment between the executive team and the frontliners. So being able to provide numbers on how this solution will add value to your company is important. Don’t worry calculating your ROI doesn’t have to be 100% accurate, you are merely providing a snippet into your current spend and what savings can be made by deploying a system like this.
Things to look at for ROI numbers:
- Cost of recruiters
- Time spent on recruitment marketing
- Revenue per employee
- Cost of recruitment marketing
- Cost of job advertising
- Employee retention rates
- Employee turnover rates
Analysis of the benefits
What are the benefits of deploying a system like this?
Time. Sorting, touchpoints, shortlisting and replying to candidates is time-consuming. You also want to give your candidates a great CX. Automating some of your touchpoints will allow you to do this and create an invaluable experience. It also provides a space for all of your hiring team to collaborate, share notes and shortlist without confusing back and forth time-consuming emails. Leaving you with free time to focus on employee retention.
Money. Save on recruiters fees and job adverts. By investing in an ATS you can build up talent pipeline and post roles way ahead of time. That when it comes to time to hire you have a whole pool to dip into. Reporting allows you to see what distribution channels are and aren’t working for you. Allowing you to cut down on cost and invest in the channels that your candidates are using.
Branding. Keeping control of your brand message. A companies branding can get diluted, the more people that are involved in hiring the more confusing it can get. Having a solid employer branding profile allows you to give your candidates a clear concise message and keeps everybody on the same page.
It also allows your current employees to share out job postings to their social networks while keeping everything consistent.
What do you stand to lose by not investing?
Candidates. They can easily slip through the gaps, applications can get lost in emails meaning you could be losing out on superstar hires to the competition.
Key Analytics. They can be manually captured but how much time does this take you and your team to put together data and reports that can be easily done on one platform and downloaded with the click of a button? Analytics also allow you plan for future recruitment campaigns so it’s a no brainer really.
A valid deliverable to include is that an ATS doesn’t take that long to implement and if you invest in a user-friendly one it doesn’t require much training either.
Getting approval for a new ATS requires ROI while considering all of these factors, don’t over complicate things and you’re far more likely to get your request approved.
Want to see how Rezoomo can help you save time and money? Learn more by requesting a demo today.