The technological wave has recently swept over the SMBs, and such companies have now started to make investments towards efficient processes. Since talent is recognized to be a key differentiator and a strategic asset for any business, one of the solutions gaining traction is talent acquisition and management. Talent solution options are far and plenty in today’s market, and hence it is critical to identify and iterate the factors one should consider prior to making a product investment decision.
Many companies are overwhelmed by what to include in their considerations towards a technological solution. Also, most solutions available in the market are better suited for larger organizations. While faced with similar end goals of ensuring talent quality and excellent candidate experience, SMBs have their own set of unique needs as well. They are undergoing constant change and evaluation. Thereby constantly impacting the direction of their talent acquisition process. Their technology needs are thus defined by their recurrent need to keep redesigning as per the current change in priorities. They need the flexibility to accommodate change without compromising on process efficiency, quality & consistency of hires, talent analytics, and candidate experience.
SMBs are hence increasingly seen to be focussing on acquiring or replacing their Recruitment Marketing Platforms, Applicant Tracking Systems, and Onboarding Systems. The factors that influence such decision making are product capability, customer support, product pricing, and other services. Here is an effort to create a quick help guide to the critical requirements of the specified systems.
A successful Recruitment Marketing System would guarantee:
- recruiter experience, defined by candidate workflow management, linkages to candidate search and application platforms, ties to the applicant tracking system
- data analytics, set by tracking visitor engagement levels
- hiring manager experience, defined by candidate funnel management, and candidate history
- candidate experience, represented by enabling of relevant candidate communication via templates using the interface
A successful Applicant Tracking System would guarantee:
- recruiter experience, defined by requisition management, candidate funnel management, recruitment dashboards, and process flows
- hiring manager experience, defined by interview schedule management, interview templates, interview scorecards, and process flows
- candidate experience, represented by the quality and timeliness of the candidate communication
A successful Onboarding System would guarantee:
- user experience, defined by process workflows, task management, and the new joiner form management
- onboarding experience, characterized by efficient and timely onboarding, linkage to an intranet, access to policies, information, documents, and employee processes
Since talent teams are always under the radar for managing costs, outlining the ROI of such a solution becomes critical. A cost-benefit analysis would typically involve a microscopic view at the following:
- Improvement in the talent team’s efficiency and productivity
- Improvement in candidate experience
- Improvement in quality of hires
- Improvement consistency in assessing hiring criteria
- Cost of the replaced ATS/ CRM
- Cost of the new solution
- Other internal costs including training, implementation, and support
For example; a dependable talent management solution will aid to strengthen the talent panorama in the following ways:
- Create Job Postings: it must enable you to post jobs to any career site or on your employee referral portal with an up-to-date version of responsibilities and working conditions associated with that job.
- Manage Applicant Self Service: it must enable candidates to visit your career page, search and apply for jobs, submit documents, receive offers, as well as view the status of their application.
- Resume Management: it must enable the recruitment team to receive and manage the applicant resumes instantly and store them for efficient processing and faster recruiting.
- Search Candidate Pool: it must allow recruiters to mine the candidate pool by searching applications based on predefined criteria, which enables faster processing of applications.
- Assign Interviewer: it must allow you to create and manage an interviewer list. Assigning an interview to one of your employees triggers an email notification to that interviewer.
- Applicant Status: it enables you to track a candidate’s application movement through the recruitment process with automated acknowledgments, along with other pertinent documents.
- Interview Management: it enables recruiters to create, edit, and manage interview schedules, as well as view and manage the interviewer’s availability, location, time, and more.
- Manage Recruitment Agencies: it supports the creation and maintenance of records of recruitment agencies. You can assign job postings to a recruitment agency and monitor its status.
- Employee Onboarding: it enables the HR team to onboard new hires efficiently
- Employee Data: it allows the HR team to access personal, organizational, process-wise employee data
- Managing Employee Personal Details: it enables the employees to maintain their personal information in one place on onboarding and thereon
- Easy Documentation: it enables the employees to manage their documents online easily
- Policy & Process: it allows the employees to access policies and processes
Once the companies are more aware of their needs and their expected ROI, they are more enabled to move forward with their product journey. Post selection, companies can draw out the road to implementation, adoption, and eventually process efficiency and success.