Mason MitchelTechnology is a valuable asset for most companies. And like all assets, it should regularly be assessed and accounted for when taking inventory. In fact, doing so could result in substantial cost savings.
Right now you’d be hard pressed to find any business whose strategy and budget isn’t governed by cost reduction, lean operations, and fastidious efficiency. Pennies are being pinched, belts tightened, and rainy day savings called up for active duty. Understandably, financial prudence has become the ongoing order of the day.
To that end, it’s now more important than ever for companies to meticulously examine their operating expenditures and look for ways to optimize their budgets. For some this may be inconvenient; for others it may be a blessing in disguise.
Case in point: companies who choose to reassess their legacy applicant tracking systems and upgrade to a more sophisticated platform like SmartRecruiters improve their recruiting ROI. For more context, consider the following results from our most recent (2019) annual customer value survey:
How SmartRecruiters Improved the Recruiting ROI of 4,000+ Customers
Undoubtedly, of the above-mentioned metrics, the most important for many companies right now is Hiring Budget. But what exactly does a more efficient Hiring Budget allocation look like in real life? For one SmartRecruiters’ customer, Colliers EMEA, it looks like €1 million ($1.1 million) in savings through data-driven recruiting—in the first year alone.
Before Colliers EMEA partnered with SmartRecruiters, they heavily relied on external agencies to source candidates, and hiring managers had to manage the entire selection process manually, resulting in high costs and lost productivity. In addition, they lacked a consistent approach in the region, and candidate data was stored across separate systems.
The firm needed a solution that would standardize its recruiting process, empower its talent acquisition team to take total ownership, and unburden them of unnecessary overhead.
With SmartRecruiters’ advanced enterprise talent acquisition suite, Colliers was able—among other things—to reduce their dependence on external agencies by -75% in the first year and increase their Hiring Velocity by +41%. Thus leading to an impressive cost savings of €1 million. We were able to help them attain this through a custom-tailored solution specific to their needs and objectives.
However, the following are a few of the features from our platform that can easily help your company optimize its Hiring Budget, thus reducing overhead costs.
SmartRecruit
Used by 4,000+ brands globally to attract, select, and hire top talent, SmartRecruit is a leading enterprise-grade talent acquisition platform with end-to-end recruitment marketing & candidate management capabilities.
- Full recruiting lifecycle management on 1 platform, from sourcing through onboarding
- Embedded intelligence across candidate selection, task automation, and analytics
- Marketplace of 350+ pre-integrated recruiting solutions
- Admin configurability and security standards for global & local compliance
SmartCRM
SmartCRM is a candidate relationship management (CRM) technology that helps you source & nurture talent communities. The best talent readily-available, on demand.
- Eliminate lag time from reactive recruiting
- Access engaged, qualified talent on-demand
- Improve conversion of great candidates
- Reduce spend on outbound recruitment marketing and ads
SmartAssistant
SmartAssistant is the industry’s first and only native AI-powered recruiting solution. By analyzing thousands of data points instantly, SmartAssistant automatically surfaces relevant candidates, thus allowing recruiting teams to do the following:
- Increase productivity with rapid automated applicant screening
- Boost discoverability of internal and external candidates
- Engage candidates easily with workflow automation
SmartDistribute
SmartDistribute is the industry’s most scalable, integrated job advertising solution. 1-Click posting to 300+ job boards, all managed within a single platform.
- Save time from repetitive, manual job postings
- Centralize contract management of existing inventory
- Track post-to-hire performance of all job boards in one dashboard
- Optimize budgets toward the most effective sources
SmartJobs
SmartJobs is an intelligent job advertising platform that uses programmatic technology to reach the right candidates in the right place, at the right time.
- Automated job distribution
- Increased reach & candidate pipeline
- Real-time campaign optimization
- Better recruiting ROI
SmartMobility
SmartMobility is a career mobility product for companies to engage and retain their most valuable asset — their employees.
- Increase internal mobility by giving employees priority through a private Internal Jobs portal
- Differentiate screening processes for external and internal applicants
- Manage all internal hiring activity from one dashboard
Interested in upgrading your ATS? Let’s talk! For a limited time, SmartRecruiters is offering eligible companies a below-market-rate offer for a complete and flexible talent acquisition platform that is easy to use and can help drastically reduce software and service costs
Lee Ann Prescott
Anh Nguyen