Talent acquisition is a journey.
A recruiter goes through multiple stages between job requisition and onboarding. The busier the hiring process pipeline, the more complex it gets for the recruiter to track hiring progress and success. This is where the Talent Acquisition Software (TAS) comes in!
Talent Acquisition Software is a tool to streamline, track and improve the efficiency of recruitment. Companies with clear goals strategize their recruitment and adopt technology to bring in the right talent through the organization, through the right talent acquisition strategies.
Recruiters have found it easier to reduce a lot of their administrative tasks and focus on identifying potential.
How does using a TAS benefit recruitment?
TAS is used to streamline the various stages of the hiring process:
#1 Internal job requisitions
A good TAS will help you add to the job roles available in your organization. Business owners can then send a requisition to fill open positions. The requisition can be closed, removed, or placed on hold by the involved hiring team.
Most TAS offers an automated candidate outreach with customized employee branding. Open job positions can be posted on your careers page of your website, job portals, and social media. Job posting on your internal job boards can improve sourcing through your referral network. Statistics say that 48% of all hires are done through job boards and job aggregators
#3 AI-based potential candidate matching
TAS automatically screens resumes to match keywords with your defined Job Description, thus picking up the suitable potential candidates for the job role.
#4 Candidate communication
TAS monitors and sends automated messages to candidates for further interview schedules or rejections.
#5 Pre-employment assessments
A comprehensive TAS includes the entire suite of pre-employment tests to pre-screen candidates for role compatibility. Surveys show that more than 80% of Fortune 500 companies are using pre-hire assessments. Meanwhile, you can also check the Best dedicated Pre Employment Test software.
#6 Applicant Tracking
TAS makes it easy to track the status of any candidate at every stage of recruitment and find out if they have been offered the job, hired, onboarded, or rejected.
Statistics show that 90% of large companies and 68% of Small and Medium Businesses use an applicant tracking system when it comes to looking for suitable candidates in a talent pool.
#7 Scorecard-driven interviews
TAS offers transparency and tangibility to the hiring process. Most TAS uses a collaborative interview scoring where each interviewer has their scorecard, which they can compare to standardize the score. TAS also has the feature of replaying recorded video responses of candidates for calibration of scores.
#8 Standardized Feedback
Candidates can receive standardized feedback based on their scorecards, which are objective and based on the parameters from the Job Description.
#9 Automated reference checks
TAS offers automated background checks that may contain reference surveys to gain insights about a potential candidate. Multiple feedback is analyzed, and collated reports can be obtained.
#10 Employee onboarding
Some TAS platforms have integrated an employee onboarding system that helps a candidate upload all their details and documents to a customized self-service portal.
Top 10 Best Talent Acquisition Software
Though there is multiple talent acquisition software available, how do you choose the right one? There are a few things to keep in mind:
1. Purpose: Ask yourself this, what is the purpose of this software? If there is a specific problem you wish to solve, look for options that can give you the best solution. For instance, if you are receiving too many resumes, most of them unqualified, your software will need to assist you in segregation, shortlisting, and creating a talent database for future use; while solving other issues simultaneously.
2. Ease of use: Though many software developers claim that their product is the best, one of the important things you will need to keep in mind is how easy it is to use and the integration with the existing system. No organization wants to spend money on new software only to be told it is not compatible with its existing operating system.
3. Features: Every software will come with its own pros and cons. Comparing the best in the segment will clear all doubts that you may have and help in deciding the best one for your business model.
4. Cost: There is no such thing as a free lunch. This does not mean that you choose the most expensive items on the menu. Look at the cost factor involved in availing of software. If it meets the business requirements and fits the budget; but isn’t the best in the category, choose that option.
Here are the names of some commonly used software: (not in any specific order)
This tool offers the management and engagement of applicants throughout the hiring process. It offers integration with the existing HRMS of the organization. They also have over 300 products from their vendors that can be accessed and used by the company.
- Simple user interface
- Applicant tracking
- Offers local language support
- Great reporting tools and
- Social media integration
- No free version
- No entry-level setup fees
- Starting price (excluding setup fee) is $1700 per month or $6000 per year for end-to-end recruitment
This tool offers strong AI-backed software that supports end-to-end recruitment management. The entire process is automated and it screens and matches resume to the jobs posted.
- AI automation
- Auto-screening candidates
- Standardized job matching
- Chatbot and candidate messaging
- Integration with the existing HR system; no separate login or platform needed
- Algorithmic explainability for transparency in decision making
- No free version
- Custom quotes for users
Yello has a user-friendly interface that invites candidates to be a part of the community and attend a hiring event to apply for a position. They believe in the concept of early talent recruitment, especially for candidates with little or no experience, and create events to keep them engaged while building a brand.
- Automated scheduling
- Resume preview
- Video interviews
- Skill-based categorization of candidates
- Saved Searches
- Custom surveys & feedback forms
- No free trials
- Quote-based pricing
This tool helps recruiters increase the outreach of their job postings. The software aids in scoping talent, sourcing, and candidate screening; followed by shortlisting, hiring, and onboarding process.
- Posting jobs on multiple job boards concurrently
- Adding referrals
- Make job requisitions on the go
- Link the job interviews with a specific recruiter
- Onboard new hires even before day one
- Has 4 pricing editions
- Free version for up to 3 job postings (up to 50 employees)
- Growth edition – $1 per employee + $59.99 platform fee per month and up to 20 job postings
- Pro edition – $2 per employee + $99 platform fee per month and up to 100 job postings
- Enterprise edition – $4 per employee + $169 platform fee per month and unlimited job postings
This offers talent as well as vendor solutions through its software. They have a centralized vendor management system and you can manage all job boards through one software.
- Chatbot recruiting
- Digital offer management
- Programmatic advertising and campaigns
- Talent communities
- Interviewer collaboration and hiring visibility
- Streamlined approvals
- Built-in e-signature
- No free trial
- Entry-level setup fee of $1000
- Free version (SmartStart) up to 10 active job postings
- Has a Corporate and Global Edition
- Pricing depends on the number of users and other features
- Approx $10000 for an annual subscription
SuccessFactors was acquired by SAP and is known to offer a suite of Human Capital lifecycle management including Payroll, Performance Management, and Workforce analytics.
- Accessible from various browsers and mobile phones
- Candidate relationship management
- Advanced candidate profiling algorithms
- Built-in chat feature to collaborate among interviewers
- No free trial or free version
- No entry-level setup fees
- Starting price (excluding setup fee) is $85 per year for up to 100 employees
This tool offers visibility into the recruiting process for all parties involved. According to Gartner, Workday brings in more than 650 customers every year and has been named as a top software in 2022, and is said to be one of the fastest-growing hiring platforms.
- Process offers and agreements in bulk
- Automated campaigns
- Job posting with customizable job page designs
- Integration with other platforms (LinkedIn)
- Sync job details (i.e., job title, description, etc.) with external job posts and social media sites
- Reporting and analytical tools
- No free trial or free version
- No entry-level setup fees
- Starting price (excluding the setup fee) is $100 per year per user
#8 Oracle Taleo
This is the most used software with a dominant 30% market share among Fortune 500 companies. It has a Tiered scoring system and also allows you to customize recruitment tools.
- Automatic tiered resume scoring
- Bonus points for certain resume keywords
- “Knockout questions” to screen out applicants
- Customization of workflows and reporting
- Offers a free trial but not a free version
- VPN setup fees are $5000 (one-time)
- $5 per employee per month for a minimum of 3,000 employees
- $3 per employee per month for midsized companies, a minimum of 50 employees
Greenhouse has a streamlined automated communication process with the candidate.
- Automated candidate emails
- Reminders for the hiring team
- Internal Chat Integration for the hiring team
- Alerts if a candidate is ‘stagnant’ in a stage
- Self-scheduling meetings for candidates (Calendly integration)
- 30 pre-built reports and 310+ integration partners
- No free trial or free version
- Offers 3 product tiers with pricing based on employee count
- $30 to $45 per seat per year for enterprises with 3,000+ employees
This tool combines machine learning and AI with 40+ integrations to provide a complete hiring toolkit. 100+ integrations and 1,000+ SEO-optimized job descriptions
- AI Recruiter technology to reach out to passive candidates
- Workable Chrome extension
- Boolean skills search algorithm
- One-click advertising across 200+ popular job boards
- Internationalization to transact in multiple languages and currencies
- Offers a free trial but no free version
- The entry-level setup fee is optional
- Starting price (excluding set up fee) is $129 per month
- Has 2 packages billed monthly – ‘Hire as needed’ and ‘Hire at scale’
To sum it up, any Talent Management Software helps recruiters make their hiring process simpler and more efficient. Technology helps in managing administrative tasks and follow-ups through automated communication to candidates and/or alerts and reminders to the hiring team.
Technology also reduces human error and bias while screening candidates. The manual effort for recruiters in just coordinating and calibrating with different interviewers is reduced with collaborative hiring. Outreach tools make sourcing more streamlined. All these tools help recruiters focus on what they are really supposed to do – find talent.
As a bottom line, when humans and technology join hands, they can achieve a lot!
FAQs on Talent acquisition software
What is talent acquisition software?
Talent Acquisition Software is a tool to streamline, track and improve the efficiency of recruitment. It is an automated system used by recruiters, talent acquisition professionals, and hiring managers to source, screen, interview, and onboard top talent into companies.
What are the features to look for in talent acquisition software?
With purpose, ease of use, features, and cost being the key determining factors while selecting talent acquisition software, the main features to consider are:
· Automated job posting with social media integration
· Recruiting chatbots and other AI-powered virtual assistants
· Automated screening and pre-assessments
· Workflow configuration and automation
· Automated interview scheduling
· Interactive and automated post-offer candidate engagement
· Integration with other workforce management and recruitment tools such as ATS, CRM, Screening, Onboarding & Candidate engagement tools, etc.
How does talent acquisition software work?
Talent acquisition software is used by recruiters, recruitment & HR professionals to source, screen, interview and hire top talent into the organization. These systems help optimize and streamline the end-to-end recruitment process with the help of automation and process rationalization to reduce recruitment effort and cost while enhancing the candidate experience.
Companies with clear goals strategize their recruitment and adopt technology to bring the right talent into the organization, through the right talent acquisition strategies.
What does talent acquisition mean?
Talent acquisition is the process of hiring highly qualified potential candidates who may be a good fit for the role and the company. This helps in building the business, a great customer experience, and a good brand reputation.
Talent acquisition has several stages, requiring many stakeholders to participate actively in it:
· Robust recruitment strategy aligned to vision & values
· Clear candidate personas & job descriptions
· Sourcing & screening
· Interviewing & hiring
· Continued talent engagement throughout the hiring process
What is the difference between talent acquisition and recruitment?
While essentially both talent acquisition and recruitment refer to hiring great talent for achieving the company’s objectives, recruitment is more transactional and a subset of talent acquisition.
Talent acquisition, on the other hand, is beyond just hiring employees. It is about creating a strong organization by identifying, attracting, hiring, and retaining the right people with great skills and attitudes, helping organizations grow exponentially.