A new survey found that a surprisingly low number of companies are using applicant tracking system technology. Visit http://pcrecruiter.net/home.htm to learn more about ATS.
TalentDrive recently released a survey of more than 8,000 Fortune 1000 companies and staffing firms. About 51 percent of respondents said “filtering through the mass of resumes and increased number of applicants” was the biggest sourcing challenge companies are currently facing.
However, about 54 percent of companies said the quality of candidates they were able to find met or exceeded their expectations. Most companies agreed the best way to find qualified talent is through social media and online job boards, while 59 percent said they had more luck recruiting talent through employee referrals and 98 percent had no luck finding talent within the company’s existing ATS.
When it comes to the types of software companies currently use, 48 percent of respondents said they use background checking software, 41 percent use online applicant screening services, 31 percent use resume sourcing technology and only 20 percent use ATS.
When asked about the top strategic action companies will take to improve talent acquisition efforts and overcome sourcing challenges, 58 percent of companies said they would revamp their interview process to reduce time spend with unqualified candidates, while 31 percent said they would implement sourcing technology in order to improve online talent sourcing efforts.
When asked how talent acquisition budgets would be impacted during Q4 and 2010, 48 percent of companies said they had a decreased or non-existent budget for new hires.
“This survey provides a snapshot of the recruiting industry’s priorities, coupled with the less than optimistic trend of decreased hiring budgets,” TalentDrive CEO Sean Bisceglia said. “We all know the recession has caused a surplus of candidates and a shortage of open positions, creating an unfavorable online hiring situation for both applicants and recruiters alike.
“It is encouraging to see that although locating candidates online has become an ominous task, recruiters are still able to locate the quality of talent needed to fill their open positions online and are willing to invest in technology that will improve the overall process,” she added.