As more small businesses turn to technology to address their talent shortages, SaaS recruitment platforms are being widely hailed as a ‘must-have’ resource for recruiting successfully in 2023 and beyond.
Despite the layoffs looming at mega-companies like Twitter and Meta and the hiring freeze that Amazon announced earlier this month, the fact still remains that many organizations are still struggling to find the right talent to fill their positions. It’s a dynamic that has many companies, especially small businesses, turning to innovations in HR technology.
Since the beginning of the pandemic, innovations in recruitment technologies have proceeded at a frenetic pace. Today, recruitment platforms have the capabilities of artificial intelligence (AI) and machine learning to take the burden off recruiters by giving them the tools to automate many components of the hiring process.
Today, the best recruitment platforms are offered as a SaaS (Software as a Service) – a software system that is having a huge impact on the many ways in which organizations use technology to recruit better talent.
What is SaaS technology?
SaaS technologies hit the scene back in 1999, and they’ve been adopted in just about every industry ever since, giving organizations new ways to expedite workflow processes and attract new customers. If we look closer, the key characteristic of SaaS technology is that it’s an on-demand software system hosted securely in a cloud-based environment, meaning it is accessible anywhere on the planet to anyone with a solid internet connection. But accessibility isn’t the only reason the SaaS market is on a growth trajectory to reach an eye-popping $623 billion by the year 2023.
Below, we’ll explore the many ways that SaaS technologies are expected to continue impacting traditional recruitment processes, but it’s important to first understand the role of SaaS technologies in modern recruitment platforms. Also widely known as Applicant Tracking Systems (ATS).
RELATED: What is e-Recruitment in 2023?
SaaS and Applicant Tracking Systems
Recent innovations in SaaS technologies have led to the development of the most powerful cloud-based Applicant Tracking Systems (ATS) that the market has ever seen. Ultimately, an ATS is a strategic technology asset that helps businesses streamline their talent acquisition activities.
That includes publishing job announcements to thousands of sites simultaneously and using artificial intelligence to screen hundreds or thousands of candidates capably and objectively.
Ultimately, these cloud-based solutions are proving to be remarkably effective in terms of providing smaller companies with the software tools they’ll need to compete with their larger counterparts for the market’s best and brightest.
Today, SaaS-based applicant tracking systems (ATS) are the most common recruitment platform used by recruiters and headhunters. Perhaps the biggest impact that comes from adopting a SaaS-based ATS system is the tools that come embedded within the platform to help recruiters build relationships with active and passive job seekers – a crucial element of the modern hiring game.
In a study that was done last year, almost half of the talent acquisition leaders in America said that cultivating meaningful candidate relationships would be a top priority for 2023.
Below we explore the most profound ways that SaaS recruitment software is expected to have a positive impact on the recruitment industry in 2023:
YOU MIGHT LIKE: The Best Talent Acquisition Strategies for 2023
Recruitment CRM
Recruitment customer relationship management (CRM) is proving to be an especially useful component of the HR tech stack for recruitment agencies and headhunters. As an embedded feature of modern SaaS recruitment platforms, recruitment CRM gives recruiters in agencies the tools and capabilities they need to organize and optimize sales pipelines as well as communications with clients that these agencies serve. The SaaS recruitment platforms that offer recruitment CRM features allow recruiters to maximize the efficiency of their communications with clients and prospective customers via a single interface.
Ease-of-Use
Many businesses are pleasantly surprised when they discover how easily SaaS recruitment technology can be integrated into their existing workflow processes. Many SaaS recruitment software packages are highly customizable, allowing organizations to take a “hit the ground” running approach when adopting SaaS recruitment platforms for the first time.
Plus, SaaS recruitment software is often designed to offer the HR professionals that use them with a dynamic “user experience” that makes using the platform an engaging affair. The appealing nature of these platforms can enhance the quality of every stage of your recruitment and hiring process.
PODCAST: EP21: Staying Agile: Building an HR function in Startups (with Irina Constantinescu, People Partner, Groundfog)
RESOURCES: The Complete Interview Questions Database
Speed via Automation
One of the most significant impacts that SaaS technology will continue to have on recruitment in 2023 and beyond is the advantage of speed. It’s a stark reality of the modern job market: the company with the fastest hiring process gets first dibs on the best candidates. Frankly, speed equates to fewer high-quality candidates dropping out of your hiring process, and it is always the best job candidates who seem to drop out first. In fact, the best job candidates are off the market in as little as 10 days.
With a powerful SaaS recruitment platform, the more tedious aspects of recruitment are handled using technical innovations in artificial intelligence and machine learning. These SaaS recruitment technologies can dramatically accelerate the hiring processes by automating HR tasks like screening and scoring candidates and applying technologies that allow job candidates to “self-schedule” components of the selection process.
As a result, the “go-to-market” timeline can be dramatically accelerated, and HR professionals can have more time to dedicate to more resourceful activities. Many recruitment agencies and staffing firms consider this to be a competitive advantage in their industry.
Cloud-based Security
With the widespread utilization of the internet to increase operational efficiencies and accelerate routine business processes, SaaS applications are rapidly becoming more popular across myriad industries. With these cloud-based solutions now playing a major role in modern business, handling vast amounts of confidential data has become commonplace. That means cloud security is a major priority.
For the organizations that adopt these SaaS recruitment platforms, there is the advantage of not having to worry about the security of candidate data.
That’s because SaaS recruitment software vendors are required to follow all NIST security measures to maintain the security and integrity of the data they’re responsible for hosting. SaaS recruitment platform vendors are entirely responsible for applying the latest technology upgrades and for all necessary hardware infrastructure improvements to ensure their cloud-based solution is secure.
LEARN MORE: Click here to learn why Manatal is one of the best SaaS companies that can help you overcome recruitment challenges in 2023.
Compliance | Privacy
Much like the cloud-based security mentioned above, data privacy and compliance are also major factors. As more and more candidates apply to an organization, these cloud-based platforms become filled with swaths of personal data and sensitive information, details that are often targeted by cyber crooks who view such systems as absolute goldmines.
One of the major impacts that SaaS technologies have had on recruitment is the luxury of passing on the responsibility of job-candidate privacy and security compliance issues to the vendors that host these SaaS recruitment platforms.
Adherence to all privacy and security compliance protocols will be required on the part of the SaaS recruitment platform vendor. This demonstrates that they’ve taken the necessary steps to protect the privacy of sensitive job-candidate data, such as social security numbers and birthdays.
Affordability
Cost and affordability are areas where SaaS recruitment technologies have the most profound impact, especially for smaller organizations. One of the main drivers in the widespread adoption of these cloud-based solutions is the significant reduction in overhead costs.
Modern SaaS recruitment platforms give small businesses access to the same technology used by their larger competitors without having to invest in on-premises file servers or technical infrastructure.
Modern SaaS recruitment platforms are often offered on a multi-tiered subscription basis and with no up-front software configuration required. The SaaS provider manages the IT infrastructure that is running the software, which all but eliminates any need for investment in new hardware and software installations.
Imagine for a moment the positive impact that SaaS recruitment platforms can have on the operations budget for smaller organizations when all they need to account for is a monthly subscription!
Accessibility
As our society is growing increasingly more digital, accessibility is becoming a huge dynamic that is having an impact on how organizations access and utilize their ATS platforms. Remember, SaaS recruitment platforms are cloud-based solutions, meaning that all one needs to access these platforms is a solid internet connection.
In modern society, smart devices have become ubiquitous. That means these SaaS recruitment platforms are largely accessible from anywhere in the world. HR professionals can access these online platforms from a coffee shop, or a resort somewhere in Maui, just as easily as they would if they were in their office.
Conclusion
If we consider the myriad ways in which SaaS recruitment platforms have impacted the HR world, the fact of the matter is that these cloud-based solutions are helping small businesses maximize the value of their operational dollars while simultaneously giving them access to the latest innovations in ATS platform technology.
The one HR software developer with a global reputation for offering the best ATS recruitment platform on the market is industry-leader, Manatal – a true innovator in the world of HR software solutions. To discover for yourself the many ways in which Manatal’s SaaS recruitment platform can have an immediate, positive impact on your organization’s talent acquisition strategies, you can take advantage of the 14-Day free trial the company is now offering.
.png)
.webp)
.webp){kind=logo}
.webp)
.png){kind=small}
