It’s a challenging time for recruiters with nearly two open positions for every unemployed worker in the labor market. Hiring right now is all about speed. And this stressful landscape continues to pressure recruiting teams to make hires as quickly as possible.
Candidates are still in the driver’s seat and continue to look for jobs with better benefits, flexibility, and higher compensation. Even recruiters are seeking companies with better tech stacks, with nearly one in two indicating they would leave their current role for better recruiting tools.
Companies are losing talent to competitors that can more quickly manage the complexities of hiring in today’s market. But the most strategic talent teams are rethinking recruiting strategies to improve hiring agility by adopting better technology to save time and find the right hires before other companies do.
Measure Recruiting ROI to Optimize Hiring
So, how are recruiting teams responding to this uncertain labor market? The best talent teams leverage unified talent acquisition technology, like the Evolve Talent Acquisition Suite, which can handle the complexities of hiring today across the full lifecycle of recruiting. And they identify areas within their hiring process that are slowing recruiting efforts, so they can reduce bottlenecks and speed time-to-hire. Optimizing the recruiting process starts by measuring it at every stage, and it takes the right technology to dive into real-time hiring data.
Try the Jobvite ROI Calculator
It’s important to measure the ROI of your talent acquisition (TA) technology to understand what’s working and where the opportunities are for improvement. The most successful talent teams are driving wins in their recruiting efforts by looking at key recruiting metrics and measuring ROI of technology and tools. The Jobvite ROI Calculator can help you calculate your recruiting ROI and drill down on specific areas of recruiting to identify where gains can be made based on your current hiring.
Save time on manual tasks
Recruiters love recruiting automation and AI for many reasons, but one of the biggest is the time and effort saved on tedious administrative tasks. Processes like sourcing and screening require a huge chunk of recruiting time — typically one-third of all time-to-fill — and that’s no guarantee you will find the right candidate. Centralized talent acquisition technology saves valuable resources for talent teams. Adopting automation and AI helps talent teams by:
- Saving around one hour per requisition with automated sourcing
- 6 hours saved per requisition for each administrative task in the ATS
- 50% decrease in time it takes to conduct a video interview
Reduce recurring costs
In times of recruiting uncertainty, many companies are looking to centralize efforts and resources to reduce costs. Talent acquisition functions have moved from frustrating and costly point-based solutions to integrated, centralized platforms that can do it all. Some Jobvite customers have seen:
- 24% decrease in job board costs
- 20% reduction in candidate acquisition cost
- 17% reduction in resume database subscriptions
- 50% reduction in time spent on logistical coordination with onboarding
Improve key recruiting metrics
Improving your recruiting program starts by measuring it. Talent teams can better drive success in their hiring activities by using key metrics to accurately report recruiting outcomes. Below are a sample of metrics that recruiters have improved using Jobvite’s Evolve Talent Acquisition Suite:
- 24% reduction in time-to-fill with purpose-built recruitment technology
- 10% increase in retention rate with onboarding solutions
Improve Your Recruiting ROI with Jobvite
Ready to get more out of your TA technology? Calculate your ROI with Jobvite. See why so many talent teams are boosting their hiring efforts and improving recruiting metrics with the Evolve Talent Acquisition Suite. Request a demo today and be sure to subscribe to the blog and resource library to stay updated on the latest in TA tech.