Making the decision to invest in recruitment software is one thing. Understanding the array of terms and abbreviations used to describe its different elements is often baffling for HR professionals new to technology.
Here we detail some of the most frequently used terms, what they mean and their role in talent acquisition:-
ATS : ATS stands for applicant tracking system, also referred to as applicant tracking software. The ATS lies at the core of an effective recruitment software system and manages your entire hiring process, from creating and sharing job posts, identifying your source of hire and monitoring the progress of candidates all the way through to onboarding. Additional features include CV screening, automated updates, reference requests and candidate text messaging.
E-recruitment : E-recruitment refers to the use of electronic resources to expedite the hiring process, improving time-to-hire and reducing the cost-of-hire. Modern recruitment software offers e-recruitment solutions such as a branded careers sites (see below) and automated posting of vacancies to social media and job boards.
Careers site : With today's recruitment software, your careers site is seamlessly integrated into your corporate website and linked to your applicant tracking system. A careers site offers a variety of functions, including the ability to forward a vacancy and search for open jobs while enhancing your employer brand.
SaaS : SaaS stands for Software as a Service. This is software ‘in the cloud’, that is, remote software accessed through the internet. The employer purchases a licence or subscription in order to use the service. SaaS is designed specifically for web based delivery, supplied on demand and supported by your recruitment software provider as a service. It removes the need for on-site maintenance or ongoing technical support.
More detailed information on the advantages that SaaS brings to your talent acquisition strategy is available here.
You may also hear the term ‘cloud based’ used together with SaaS which simply means your recruitment software system is web based and accessed through the internet.
Talent pool : A talent pool, talent bank or talent community, refers to a database of candidates who may be suitable for future job openings and have expressed an interesting in working for your company. These are often applicants who didn’t fit a specific job but possess specialist skills that may be suitable for upcoming opportunities. Your applicant tracking system enables you to engage with your talent pool through automated updates on company news and new job openings. Building a talent community provides a source of qualified candidates the next time you want to recruit.
Recruiting CRM : CRM refers to candidate relationship management, an essential component of every talent acquisition strategy. Modern recruitment software incorporates an effective recruiting CRM enabling HR to engage with talented candidates, enhance employer branding and nurture talent pools.
Agency portal : For employers working with agencies to fill their vacancies the agency portal gives your authorised recruitment agencies access to areas of your ATS with an individual log-in. All communication takes place within your recruitment software, leading to a more efficient hiring process and easier tracking of candidates. Click here for more information on Advorto’s agency portal.
CV parsing : You may hear this phrase used in association with recruitment software. In essence, CV parsing refers to the analysis and extraction of relevant data from a CV, such as qualifications and work experience of candidates. CV parsing enables HR to process CVs online intelligently and is used by recruiters to manage electronic documents more efficiently. It is invaluable during the screening process, enabling employers to offer a simple application form.
Candidate management system (CMS) : A candidate management system identifies, tracks and manages the process of the most qualified candidates for your vacancy. This includes candidates who have registered their interest through your careers site or within your talent pool. A candidate management system allows hiring managers to schedule interviews and stay in touch with job applicants through automated messages.
Recruitment analytics : Sophisticated recruitment software provides comprehensive reporting on a variety of hiring metrics - or recruitment analytics - to enable you to improve your hiring process. These include time-to-hire, cost-of-hire, candidate offer to acceptance ratios, open versus filled positions and the source of your most successful hires. Modern recruitment software pulls down live data, providing you with an instant overview of the success of your talent acquisition strategy.
For more detailed information on a variety of recruitment software terms, please refer to our Glossary.
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