How to Build the Best Business Case for a New ATS
A time of economic downturn is an unfortunate and difficult circumstance for Talent Acquisition. As recent research from the Fosway Group, Europe’s pre-eminent HR Analyst Group, shows this crisis has exacerbated every organization’s ability to find candidates with key skills. The study also found that increasing investment in recruitment will not be able to combat these challenges unless companies boost agility by implementing a modern applicant tracking system which can demonstrate cost savings through sound business cases such as those generated using eRecruitment technology like Jobber or CATS Recruiter Software
The United States workforce requires new ways of thinking about how we attract talent at times when finding qualified employees becomes more challenging due to increased competition during periods of heightened unemployment rates; however there are simple
Add to this that a 2017 McKinsey survey found that 82% of Fortune 500 executives don’t believe their companies recruit highly talented people.
Therefore, if you want to transform your TA platform and make it more successful in hiring the right people for positions within given economic challenges, then there are metrics like time-to-fill and cost-of hire which need improvement before they can be used as accurate measurements. The problem is these measures only account for cheaper or faster hires but not quality hires so the plan needs work on improving them first (before lengthening).
In the wake of layoffs, transform your TA team into an outplacement agency. Jerome Ternynyck urged organizations to “step up” their TA efforts in response to a recession as businesses need more resources than ever before for recruitment and retention. He cited AirBnB as a commendable model in this regard; they have taken on many aspects that would traditionally be left solely to human resource departments or outsourced firms like SmartRecruiters (one such service). In particular, we can take note from how these companies prioritize hiring new talent rather than relying exclusively on recruiting already employed candidates – which is often easier said than done during times of economic downturns when unemployment rates are higher across the board and there’s
We are committed to boosting internal mobility. To ensure that we’re able to enact this commitment, we will not be hiring externally for the next x period of time and instead invest more in improving our employees’ skills through enhanced transparency, fluidity between departments/levels, as well as communication with other company members about their progress towards career goals.
Building Your Case
In an economic crisis, businesses face two different challenges: how to speed up innovation and how to control the associated costs of innovation. If a business does not have unlimited resources for innovating their TA platform in times of economic slump then they must innovate with less budget. The best case scenario is cost-neutrality but this will never happen as it can’t be expected that there would be increased budgets during such hard periods in time; so instead firms need find ways or do more with less when trying to develop new products/services etcetera
The traditional candidate tracking system (ATS) is a relic of the past. But this does not mean that it should be abandoned and replaced with an off-the-shelf package, like many are doing today. Rather than throwing out your old ATS for something shiny and new, you can take advantage of upgrades to create more efficiency in your organization – while still retaining all those hard earned features!
For example: Let’s say I used applicant software from 2018 when applying for my current job as Manager of Candidate Experience at TA company ABC Inc.; but then they upgraded their platform so they could access newer tools available on 2020’s version? That means that any data stored there would no longer work if we were trying to harvest them or
Ats software suites can improve the efficiency and cost effectiveness of your recruiting process. You might reduce reliance on costly external agencies, standardize hiring processes, or cut down on staffing with a more efficient system.
If your company is considering an ATS purchase, don’t worry about the cost of staffing up. If you’re able to keep costs-neutrality or even create savings in other areas like advertising and recruitment by implementing a new process for TA management with this free ROI calculator available below, it’ll be worth it! Phil Strazzulla from Select Software Reviews offers some excellent advice on how to use the tool here:
Conclusion
Your plan should offer a timeline for this transformation. How long will it take to fully modernize the TA platform? What are the phases of this transformation, and so forth? The first phase is dedicated to assessing where you currently stand with your technology in comparison to other leading companies. With that data collected, we can then decide on what changes need made most urgently as well as map out how they’ll be implemented over time- which might include reworking current systems or setting up new ones altogether.
“Improving your TA operations is essential in any circumstance, but an economic downturn places both added urgency and challenges to doing so. Modernizing your TA platform is a vital way for you to address the resiliency needed during challenging financial times.”
