When it comes to business, we at Dominion believe every company should practice what it preaches. Our company here is made up of about 55 employees, and each department uses our applicant tracking system when the time comes to hire new employees. The way we’ve designed this system allows each hiring manager to use it a little differently in order to maximize effectiveness and optimize the hiring process. Here are the three reasons we use our applicant tracking system (and why you should, too!)
1. Enhance Your Pipeline
Without a quality applicant tracking system, it can be very difficult to keep an up-to-date candidate pipeline. When it comes time for you to hire a new employee, it’s in your company’s best interest to do so as quickly and efficiently as possible. The cost of turnover is extremely high, sometimes costing employers the equivalent of six to nine months of an employee’s salary in order to find and train their replacement according to Huffington Post. This number can be asinine when you get to higher level employees, which is why it’s vital to have an applicant tracking system that has a full, well-polished pipeline to nurture candidates into new hires.
At Dominion, we continuously monitor our pipeline. The moment someone submits an application we review it and decide whether or not to move them from ‘applicant’ to ‘candidate’ in our system. This is useful because we have a selection of candidates to choose from the moment a position becomes available. This allows us to be proactive in our hiring process and has saved our company a lot of money in avoiding excessive turnover costs.
2. Simplify Your Hiring Workflow
If you’ve undergone the process of hiring new employees, you know how complex the process can be. Every application requires a number of steps, regardless of whether or not that applicant gets brought on as a new employee. Within our marketing department here at Dominion, each candidate for a position must undergo the following steps:
30-minute phone interview
One hour in-person interview
A separate interview with our CEO and the Marketing Manager
A critical thinking test
Our hiring process takes anywhere from three weeks to a month since we typically start with a candidate pool of about 40 to 50 candidates for a preliminary phone interview. Also, the marketing team here is made up of 4 people, so you can imagine how complicated this process can get with so many moving parts. Because the person who is conducting the initial interviews will vary depending on availability, you can see why it’s important to have a hiring workflow that makes it easy to manage this process without any issues.
There is nothing more frustrating to applicants than applying for jobs that they never hear back from. Such lack of correspondence is unprofessional and leaves a bad impression, so it’s important to make sure you’re keeping open communication with all your applicants. If you choose to reject a candidate, your applicant tracking system will automatically send them an email. This automation will ensure that there are no loose ends and you can fully respect your candidates and their time.
3. Monitor Detailed Analytics
Using an applicant tracking system to hire new employees is great, but what’s even better is being able to use the analytics dashboard it provides to track your hiring trends. You can see information such as the average time it takes to hire someone, specific rejection reasons, the number of candidates currently in your pipeline, and more. Such information is vital for hiring managers to be aware of so they can see hard data surrounding the hiring process and, in turn, take measures to improve them. This helps them be proactive and lets them plan ahead whenever they have to bring on a new hire.
The hiring process today is nothing like it was a few years ago. The same way your company evolves over time, so, too, do your processes. By using Dominion’s applicant tracking system to monitor your candidate pipeline and improve your hiring workflow, you’ll be able to track your analytics and improve the data displayed on your dashboards.
Interested in learning more about Dominion's applicant tracking service? Click the link below.