Applicant tracking software saves time, and improves a recruiter’s productivity. Here’s how:
Applicant tracking software converts text resumes (e.g. from an e-mail inbox) into searchable database records, with almost no administrative time or cost.
- The only “cost” is a handful of mouse clicks, and about 10 seconds of time per resume.
- Applicant tracking software also provides a search function, so that resumes that fit any profile can be easily extracted from the database, again with the same “cost” of a few mouse clicks and a few seconds.
How much time you save with applicant tracking software of course depends on the volume of resumes you handle on a regular basis. Even if you read and file just 10 resumes per business day, this adds up to about 200 resumes per month, or 2,400 resumes per year.
Even at this very modest volume, applicant tracking software pays for itself very quickly. There are two areas of time savings:
- Reading and filing resumes
- Searching to find resumes that “match” a job opening
Only you know how much time you’re spending today, reading and filing resumes. Assuming you take the time to read the resume, make a decision about where to file it, and then move it into another Windows or Outlook folder on your PC, you will certainly need at least a minute or two to complete these actions. If you actually print the resume and then file the paper copy, the times will be much greater.
For purposes of making cost comparisons, we’ll use this one or two minute estimate, but you can make any adjustment if this is not a good approximation of the time you’re spending today.
The ten to fifteen seconds that RESUMate needs to build a database record is probably too small a time increment to which any cost can be meaningfully attached. If you value your time at a rate of $100 per hour, fifteen seconds represents a cost of 42 cents. If the cost of the person actually doing the work is $25 per hour, then the cost is 10 cents. It’s often the case, however, that the normal workflow dictates that the first person to look at the resume is a recruiter, and using the higher hourly rate may more accurately reflect the cost of this function.
If you take just one minute to read and file the resume using your present system, the cost (assuming the $100 per hour basis) is $1.67, and if you take two minutes, the cost is $3.33.
Even at the rate of reading and filing a resume in one minute, the difference in cost is $1.25. Since the cost of the RESUMate Lite version is just $295, you would recover the cost of this product in time savings from this function alone after handling just 236 resumes. In many situations, this is far less than the number of resumes arriving in an inbox in a single month.
Searching is more difficult to quantify, but it does not seem out of order to say that for nearly all recruiters, some number of hours per month, or more likely per week, can be spent for this purpose.
Given the fact that applicant tracking software, such as the RESUMate Lite version, can find candidates based on any profile in just seconds, the time savings here are substantial. Assuming only that a recruiter is actively working to fill even 2-3 jobs at any given time, then time spent searching is certainly measured in hours per week.
Given the surprisingly low cost of RESUMate software, time savings of just a few hours per month actually offsets the cost of the program in its first 30 days of use.
Given the fact that this is a program that you will likely use for months and even years to come, this is a remarkably short cost recovery period. Also, there are no hidden costs associated with RESUMate. Training time is close to non-existent; most people learn how to “build a file and search a file” while evaluating the demo program. There are no annual fees of any kind. We offer updates about once a year. There’s no obligation to buy them—if you like the new features that are being added, the low cost of the upgrade is just as easily justified as the original cost of the program itself.
(NOTE: If you add the Import Express feature to RESUMate because you have a high volume of resumes to read and file, you’ll spend essentially no time at all, since this feature allows you to point to a Windows or Outlook folder, and bring in hundreds of records at a time, completely unattended).
Here’s a short list of productivity improvements that can be traced directly to the use of applicant tracking software. (In this regard, it makes no difference if you’re recruiting for a staffing firm, or internally for your own organization).
- You’ll have more time available to talk to candidates and hiring managers.
- You’ll have more and better information, literally “at your fingertips,” when talking to these people.
Having more time to talk to candidates and hiring managers is obviously a good thing. These conversations make things happen, which itself s not a bad definition of productivity. In fact, having more time for conversations with candidates and hiring managers is so important that recruiters are often supported by administrative assistants and researchers precisely so they can spend more time interviewing and presenting candidates.
Applicant tracking software functions exactly like an administrative assistant. It takes over the task of reading and filing resumes, so that you can limit your resume reading time only to resumes that describe qualified candidates, of interest to you in the context of a particular search. Time wasted, reading worthless resumes, becomes a thing of the past. What you do with the time you save is up to you, but absolutely you’ll have more time to spend talking to candidates and hiring managers, which is where the action is.
The second issue deals more directly with the quality, not the quantity, of the time spent (usually on the phone) talking to candidates and hiring managers. It may be impossible to place a dollar value on always having up to date, complete information about a candidate or a job opening when talking on the phone, but no one could argue that having accurate, complete, timely information helps a recruiter perform better. Conversations with candidates and hiring managers get results, because all of the information needed to move the transaction further along the hiring process is always at hand.
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