Recruiting automation technology brings a lot of opportunities to talent acquisition managers, who could improve recruiter efficiency, cut costs and gain first access to the best talent by deploying pipeline automation.
According to Entelo’s 2019 Recruiting Automation Trends Report, 75% of recruiters say technology will play a larger role in their companies hiring process in 2019. These companies will gain a competitive advantage in the fierce war for talent, while their peers are left behind.
In this blog, we will be taking a look at the factors that are driving the need for pipeline automation.
A common problem candidates often face these days is a long hiring process. This not only mars the employer branding, but it also often leads to loss of quality hires.
Bullhorn’s 2018 UK Recruitment Trends Report highlights that 43% of executive search agencies take 21 days or more to hire. Having a longer interview process means you risk losing the candidates you're interested in to other opportunities.
A faster hiring process not only increases the quality of hire (as, let’s face it, great candidates aren’t around on the market for too long) but it also saves money and improves recruiter efficiency.
Not only do companies who use pipeline automation reduce time-to-hire by at least 25%, but they are also able to ensure all best-fit candidates are identified and engaged. This results in better quality hires and a higher performing organisation.
Today, there is a greater need to stay ahead of the competition due to low unemployment and an increasing skills gap. This is why many companies are now investing in technology that can help them engage with and hire quality talent faster.
From social media profiles to CVs, the amount of information on candidates can be overwhelming. It is becoming increasingly difficult for recruitment teams to process all this information manually as they simply do not have the time. This is where pipeline automation comes in. Automating talent pipelines help companies to sort through the candidate data quickly and allows them to make better decisions quickly.
Over 80% of recruiters agree that recruiting automation can help increase their productivity. Not only does it allow manual tasks to be automated and increase recruiter efficiency, but it also reduces time-to-hire and cost-per-hire. The biggest asset any recruiter has is their ATS or CRM. There are thousands of people on there and most recruiters are unaware of who is actively looking for a job. The problem is the ability to manage the data. Being able to understand what each candidate is doing outside your careers site enables talent acquisition managers to hire more effectively.
When it comes to data, one of the biggest trends we saw over 2017 and 2018 was GDPR. According to Bullhorn’s 2018 UK Recruitment Trends Report, 59% of respondents expressed a concern about GDPR. Most people think they need to delete their entire candidate database since it came into force but this isn’t the case. Pipeline automation enables you to automate GDPR compliance without having to hit the ‘delete all’ button.
LinkedIn’s 2018 Global Recruiting Trends Report highlights that AI is the least mature (and embraced) trend by companies in recent years, but a lot of professionals are already using this technology in their jobs.
People have been talking about recruitment automation for years, so it is definitely not a new subject. The recent development in new technology, including advancements in AI and machine learning, has accelerated innovation to enable a more efficient and productive recruiting team.
With a great deal of time and effort spent in the hiring process, recruiters cannot afford to miss out on the perfect candidate or make a bad hire. Pipeline automation helps recruiters to avoid this problem. A more efficient recruitment process combined with the confidence of unbiased decisions is definitely a win-win for recruiters.
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