How to maximize ROI with recruitment automation tools

Companies and recruiters invest enormous amount of money, time and efforts in the entire recruitment process. Hoping to find a suitable candidate. There is no denial to the fact that, traditional hiring process like manually going through all the CVs’ and segregating the candidates doesn’t guarantee a perfect candidate. Also probability of a bad hire is very high as well. In recruitment marketing most of the companies are mostly using social media to attract right talent. This method is in an early stage i.e. the trial and error method which again does not guarantee the right results.

 

In current circumstances the answer to these problems is simple. Recruitment automation tools! These tools have more potential to save time, money, efforts and are more likely to provide the most suitable candidates at the end. The Companies/Agencies that are slowly but steadily investing their money into such tools are experiencing greater returns on their investments. The algorithms are better and faster in screening CVs’ as per the requirement. The video interviewing aspect eliminates cheating as it is video recorded and so on.  

Let’s take a look at how recruitment automation tools help you maximize your return on investments.

Cost per hire:

What are all the aspects which can be categorized as the cost in the recruitment process? The cost of time and labor, that is to be put in the process of writing, screening, interviewing and onboarding talent.  Then there are other factors like base salary and total compensation. This should be considered in the case of a bad hire i.e. the salary you are going to pay to the bad candidate until the need to replace him/her with a better one arises.

Now imagine getting the quality candidate in the first attempt itself.  How does a recruitment automation tool do that? The tools like rezoomex are designed in such a way that, when you upload a bunch of CVs’ in the tool. Its tracker matches the parsed resumes with the parameters mentioned in your job description and scores candidates according to their suitability. Based on this score, the tracker ranks the candidates. This way you get to schedule the interview of the most suitable candidates only. This immensely increases the probability of hiring a quality candidate in the first go itself.

Cost of job marketing & advertising:

A good ATS gives you an opportunity to build a talented pool of candidates. Suppose if there is a new vacancy arises, which is similar to one of your previous positions. You already have a batch of qualified candidates, without doing anything. All you have to do is schedule the interview.  There is no need to place the positions on different job boards or to put money in the sponsored vacancy post on different social media channels. You can calculate yourself the amount of money which is required to be spent on marketing and job boards can be saved.

Employer branding and retention rate: A company’s reputation as an employer can make or break the hiring goals. Even if you have managed to find the most suitable candidate, he/she is likely to reject the offer, if your company has a bad reputation online. Today’s candidates will check out company review websites like glassdoor to understand the work culture.

Tools like rezoomex have gamified the technical assessment part. This helps in building a strong employer brand. Now you can gauge a candidate’s technical abilities without bringing them to your campus for the technical round with the gamified mobile technical assessment app. The candidate won’t have to travel and will save his/her time and money. On top of that, the entire video interviewing process is fun to be involved in. One can confidently say that a good employer brand means good employee retention rate.

Thank You!

Please share your views and suggestion

I hope you enjoyed this article. Don’t forget to share your views. You can also tweet your comments to @Rezoomex and @akshaymoon89 with #TechHiringBlog


With an overall experience of  more that 3 years, Akshay Moon is someone who specializes in content marketing and has always managed to create quality content. He is currently working with Rezoomex as a Digital Marketing Executive.

Passionate about sports, particularly obsessed with cricket, anything related to the game is enough to attract Akshay’s attention.


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