We were recently approached by Software Advice, an HR technology firm, with an interesting report stating what features vendors offer in an applicant tracking system (ATS). The key findings from the study are as follows:
A stand-alone ATS was the most commonly available product with 34 percent of vendors offering it.
Applicant tracking and applicant sourcing were offered together by 10 percent of the vendors in the report.
Small business buyers most often requested personnel tracking, benefits administration and applicant tracking, but only 17 percent of vendors offered these together as an integrated suite.
Human Resources Defined
In order to conduct the report, Software Advice broke HR down into two primary functions, core HR and strategic HR.
Core HR encompasses the three traditional human resources management functions: benefits administration, personnel tracking and payroll.
Strategic HR involves growing your company by attracting and developing the best talent, and improving the way you manage your workforce.
From these definitions they analyzed applications provided by 284 different software vendors.
Applicant Tracking is Highly Sought After
The reports findings concluded that applicant tracking is among the top requests for human resources professionals in 2014.
The top three requested HR applications are as follows:
Through further research they were able to conclude that stand-alone ATS was the most common vendor offering with 34 percent of vendors offering this and nothing else. To the contrary, only 3 percent of vendors offered a nearly complete talent management suite (missing the applicant sourcing and video interviewing portions).
What do Buyers Want?
The report found that many buyers who were seeking an ATS were also looking for core HR applications.
The top 5 requested applications to supplement ATS are:
Time & attendance
As you can conclude there is a bit of difference between what vendors are offering and what buyers want. For example, 26 percent of buyers surveyed requested benefits administration to supplement an ATS and only 19 percent of ATS vendors offer this functionality. Additionally, 33 percent of vendors offered onboarding while only 9 percent of buyers requested it.
If you would like to read the original report by Software Advice you can do so by clicking here.