Table of Content
- Importance Of A Collaborative ATS To HR Managers And Recruiters
- How Does An ATS Work?
- Why Do Recruiters Use It?
- Important Features Of ATS
- Keyword Searches
- Automatic Ranking
- Resume Formatting/Parsing
- Duplicate Detection
- What Does The Future of ATS Look Like?
Importance of Applicant Tracking System to HR Managers and Recruiters
- Separate candidates and suggest the top applicants.
- Lead a primer investigation of the candidates to locate the best fits for a work.
- Search for keywords or use AI algorithms that run a more profound examination.
- Speed HR’s survey of applications and resumes.
How Does An Applicant Tracking System Work for Recruiters?
An Applicant Tracking System (ATS) smoothes out the recruitment cycle by assisting hiring managers with making job postings, distributing them to company websites and job boards, screening candidates, following their status, putting away their data, and improving the last strides of the recruiting cycle when an offer is extended.
1) An Applicant Tracking System Impersonates The Human Thought Process
Instead of dehumanizing the hiring process using AI, these systems tend to be equipped with AI functionality that impersonates the human thought process. ATS features are specifically designed to scan resumes for key information in the same manner that a recruiter would but without wasting the recruiter’s time on mundane elimination work. As an added benefit, ATSs can do this faster than people can and with fewer errors and oversights.
Most hiring managers receive hundreds of resumes for any job opening and hire for different openings, all at once. Applying for a job has become a very easy process and almost anybody can do so. Going through a multitude of resumes and applications manually has basically become an impossible job and a waste of time too.
2) Applicant Tracking System makes the hiring process seem like a cakewalk.
- An Applicant Tracking System allows you to use job descriptions more than once for various job positions, this reduces the effort that is required in posting a new job.
- An Applicant Tracking System can be trusted with the posting and managing of job ads on the company’s external as well as internal career pages and across various job portals like Monster and Indeed, as well as on social media handles such as Facebook, Twitter, and Linkedin.
- The Applicant Tracking System is also responsible for the well-maintenance of the candidate database and applicants who have the potential to be prospects in the future.
- An ATS creates a single view profile for each candidate that includes all the jobs they have applied for before along with any communications that they hold. In other words, it aggregates all the data related to the candidates.
- It also features Candidate Ranking and Scoring which is conducted during the initial scan of the applicants to make a shortlist of the best candidates fit for the job.
- The Applicant Tracking System also acts like a customer relationship management system. It helps the recruiters by setting up interviews, automating responses, alerting systems, interview reminders, etc.
4 Important Features Of A Good Applicant Tracking System (ATS)
Applicant Tracking Systems can have a long list of features. However, some of the most useful ones are as follows:
1. Keyword Searches
Filtering resumes using keyword searches is a very commonly used method by recruiters. This feature searches specific keywords in resumes and applications and filters out the candidates that contain the required keywords.
A search can contain multiple terms. Applicants who can anticipate the right resume keywords will have the best possibility of being remembered in a recruiter’s lists. This process is automated by TurboHire by analyzing resumes against the expected set of responsibilities to show the top talents and filtering out the best candidates.
2. Automatic Candidate Ranking
The Automatic Candidate Ranking feature helps the recruiter decide which candidates are an ideal fit for the company. This way you can decide which candidates can be shortlisted, and which not.
About 75% of applicants are not really eligible to apply for the job they apply to, which means recruiters have to go through the resumes of this 75% too, only to find out they are not equipped to apply. Hence it does not make sense to go through all the resumes.
Candidate Ranking feature of TurboHire helps recruiters to go through only those resumes which match the requirements of the job opening.
TurboHire utilizes Meta Driven Recommendation Engine to find out the score of each candidate based on their resumes. Each profile look is shown to you as a Candidate Smart Card that also includes the Calibration Score of the candidates to help you shortlist the top scorers.
3. Resume Parsing / Formatting
Resume parser is a program that helps recruiters analyze resumes and extract useful information from them in a format that can be easily read by machine languages like JSON and XML. Resume parsing helps you to save resumes easily and it also becomes easier to analyze the data from the resumes, automatically. It is like saying, your unstructured resume database can automatically be arranged based on what information you want, and exclude those information that you find irrelevant.
4. Duplicate Detection
It is very common to find one candidate applying to more than one job opening at different times. Sometimes you might notice it but these duplicate applicant profiles can only add to the clutter in your database. TurboHire’s Duplicate Detection feature helps you to recognize these duplicate profiles and if you feel they are a good match, you can merge their resume into one.
With 98% accuracy in detecting duplicate profiles, TurboHire helps you to keep your database organized. You don’t need any other software for this purpose.
Importance Of AI-powered Applicant Tracking System
by Khushboo Kataria
The following is an insight Khushboo Kataria, Data Scientist with TurboHire. Khushboo is has a Master’s degree with IIT-Madras. She has also accomplished Data Manipulation with Python Track with DataCamp.
Since their advent in the nineties, Application Tracking Systems have come a long way from simple tools to gather and parse resumes to being sophisticated pieces of technology that are equipped with easy-to-navigate UI, automation, and analytics that can streamline the hiring process end to end. With more and more companies opting for ATS, their indispensability in recruitment is unequivocal.
With the pressure mounting on HR to hire the best candidates in a limited time frame and with the ever-increasing applications for a job, you need an ATS that can understand your hiring needs and can rank and match the best candidates, suggest similar candidates who applied to similar jobs besides the usual automation of repetitive tasks.
It’s practically not possible for a recruiter to go through all the applications even if they are pro in screening one within seconds. You definitely wouldn’t want to lose out on a great candidate because of the impracticality of screening each resume. That’s where AI comes to your rescue. An ATS powered by AI coupled with human intelligence will increase the efficiency of the hiring process manifold.
3 Benefits Of An Intelligent Applicant Tracking System
Finally, the following three points sum up the benefits of an ATS software that is AI-powered:
1. AI-powered ATS Helps In Saving
An ATS coupled with AI capabilities helps in saving effort, time, and money. Automation helps save time and effort and with AI optimizations, HR can focus on other critical business decisions.
2. Improved Quality Of Candidates With ATS
By virtue of ranking algorithms that can evaluate hundreds of candidates within seconds, HRs can now access the best candidates faster, without bias.
3. Increased Productivity With Applicant Tracking System
With less time spent on sifting through candidate applications, recruiters can deal with more important tasks like candidate engagements.
The TurboHire Impact
At Turbohire, we use a ranking model based on NLP and machine learning. It takes a resume or a set of resume applications and a job as input and assigns a score to each resume based on how closely it matched the job. The score is curated based on different criteria like skills, experience, and education. One can control how much weight one wants to give to each criterion.
The model is trained using real past data of applicants that applied to different jobs and whose suitability to the jobs was reviewed by an HR expert. The model learns from these expert decisions and keeps improving the score and ranking with their feedback. The algorithms for suggesting similar jobs or resumes use similar logic.
Is Your Applicant Tracking System Intelligent Enough?
by Abhishek Kabra
This is an insight by Abhishek Kabra, CTO & Co-Founder at TurboHire.
When you are on the lookout for the right talent for a job opening, you are not only finding the best candidate for that job today, but, you are also futureproofing your company’s endeavor to grow, and remain competitive and innovative. This is why having the best tools at your disposal to find the right talent is not only smart but also kind of essential, now. Well, unless you are hiring in the late 90s, you no longer store your resumes in file cabinets. The technology has been kind to you and you now have software to store, process, and track recruitment data, simply put an Application Tracking System (ATS).
Applicant Tracking Systems have also evolved over time. They no longer just store or track job applications but are also power-packed with features like resume parsing, comprehensive notification systems, and solid reporting. But is it enough?
A simple Applicant Tracking System is filtering hundreds of resumes to recommend the top 5% the recruiter should be looking at. But the underlying basic ‘keyword’ based logic is ultimately flawed and it makes the system vulnerable to being tricked into selection using keyword stuffing and white fonts, or, worse, bypassing the right candidate because they didn’t use the magic keywords.
There is definitely a need to make this system more intelligent. It should definitely be able to do more than just parsing and storing resumes.
How does AI-powered Applicant Tracking System accelerate Intelligent Hiring?
While the possibilities are limitless, here are some examples of the common struggles that the AI-powered intelligent ATS can help you with.
1. Remove the Unconscious Bias from Screening
Unconscious bias is quintessentially human and if an ATS technology still relies on a human to rank the candidates, it is vulnerable to the bias that comes with it as well. This is disastrous for any organization.
An AI-powered intelligent Applicant Tracking System, on the other hand, is capable of processing huge amounts of data points objectively to rank all the candidates based on skills of consequence for the job. It can eliminate the factors that are not relevant (like name, age, marital status, ethnicity). And, because these systems can learn, they can be trained further with more data on previous successful hires to continue to systematically remove biases in the future as well.
Bonus read! How To Control Hiring Bias Using AI
2. Connect with the Right Candidate Sooner
By the time you could get your hands on that best candidate, it was already too late because the simple ATS system cannot tell you how much of a good fit a candidate is for the job out of the many it has ‘filtered’.
Imagine if a recruiter no longer needs to read a huge amount of text per candidate that gives no idea about the candidate’s competency. Now, imagine having a snapshot of each candidate ranked in the order of being the most eligible for the role being considered. And you can use the huge amount of time saved in engaging that talent.
3. Utilize Every Resume You Have Sourced
As mentioned earlier, it is quite easy to sit on a pool of resumes and not be able to utilize even half of them. Companies are losing out on leads they have paid to acquire at times.
An AI-powered hiring solution, on the other hand, can screen, grade, and rank each resume for each opening, thus making sure that you are using the complete data set. What more? Someone who was not a good fit for the role today could easily be a good match for a role tomorrow and your intelligent ATS can save you the hassle of sourcing new resumes by telling you that you already have access to the talent you are looking for.
What Does The Future Of Applicant Tracking System (ATS) Look Like?
The Applicant Tracking System market is seriously swarmed, having at least 100 ATS companies. IDC gauges that overall income from these services and administrations – including ATS and enlisting programming – will develop at a build yearly development pace of 5.2% from 2019 to 2023.
Some statistics show that Applicant Tracking Systems are here to stay
1. As much as 75% of hiring professionals and recruiters make use of the Applicant Tracking System. (Source: Capterra)
2. 94% of companies believe that their Applicant Tracking System has had a positive impact on their recruitment process. (Source: Capterra)
3. More than 90% of Fortune 500 Companies cannot do without an Applicant Tracking Systems (ATS) during their recruitment drive. (Source: Jobscan )
“Applicant tracking and HR software/solutions are big businesses with continued expected growth over the next few years.” – Jennifer C. Grill, Product Evangelist, ApplicantStack.
Applicant Tracking Systems accomplish something beyond tracking applicants. They help recruiters and hiring managers to smooth out recruiting measures, pull in the top applicants, and agree to government labor laws. ATS solutions are expected to continue to grow – according to research in 2017, the global market revenue was $18 million and is forecasted to reach $35 million in 2025.
Investing in an Applicant Tracking System for a company is a wise decision. Why?
A good ATS will help the company raise hiring standards, cut costs, and save time, candidate sourcing and tracking are highly automated. As a result, the candidate database of a company will be filled with only the top talent in the market meaning jobs getting filled faster. It will build a network of efficient workers in the organization which ensures a better future.
FAQs (Frequently Asked Questions)
Related To Applicant Tracking System
1. Can TurboHire actually suggest the best candidates fit for a job?
TurboHire has the capacity to shortlist the best-fit candidates for a certain job through various methods like Candidate Ranking, Candidate Scoring, and Candidate Cards. Candidate profiles are carefully evaluated with TurboHire’s AI-based Applicant Tracking System and Candidate Discovery algorithms. After using TurboHire, you will see a huge improvement in the Quality of Hire metric. The platform ensures that you are not wasting time interviewing underqualified or inexperienced candidates.
2. What are the different steps involved in TurboHire’s ATS?
TurboHire’s Applicant Tracking System focuses on three main steps:
- Discover: This step consists of sourcing, screening, and assessing candidates. These processes are filled with advanced AI tools that help companies source the best candidates from the market.
- Interview: This step is in charge of dealing with all the interview-related processes during hiring. TurboHire specializes in Automated Interviews and also provides facilities for panel interviews with the collaboration of other features and members.
- Structure: This step defines the structure of TurboHire’s ATS and how it makes the recruitment system collaborative and data-driven. It includes the management of candidate relationships, applicant tracking, and reporting.
3. How much can an organization benefit from an ATS?
TurboHire conducted a study based on actual numbers taken from companies who used the ATS. The result of the study are as follows:
- Reduction in Cost-to-hire: 75%
- Reduction in Time-to-hire: 68%
- Improvement in Quality of Hire: 60%
TurboHire rediscovers candidates for repetitive jobs and makes 100% use of the company’s candidate pools, thus reducing sourcing cost and time. This process comes hand-in-hand with employer branding as it improves candidate experience also.
4. Can a company add its existing candidates to TurboHire?
Yes, a company can import their existing candidate databases into their TurboHire account without any issues. If you have spreadsheets or CSV files containing candidate data, you can import those files as well. TurboHire supports resumes in various formats – .doc, .docx, .pdf, .rtf, .txt, etc.
5. What is Intelligent API?
TurboHire allows users to infuse their intelligence and easy-to-adopt API with systems of their own choice. The API consists of tools like Resume Parsing, AI matching of candidates, and automated interviews. TurboHire can not only track and source candidates but also assess candidates based on their automated interviews. The API can measure behavioral attributes and analyze candidates based on their responses.