With literally hundreds of vendors to choose from, the HR and recruiting technology space can be overwhelming to evaluate. Attempting to dive into the technology presents its own learning curve, as each type of provider has its own terms, acronyms, and language.
Today, it’s become increasingly obvious that sticking to manual HR and recruiting processes is bad business. In fact, when recruiters were asked whether the adoption of technology has positively changed the way their company recruited top talent, an overwhelming 82 percent said yes.
This is partly driven by the increasing role data-driven decisions play in business, and more pressure than ever for recruiting and HR professionals to impact the bottom-line.
However, whether you’re a technology novice or have been using technology solutions for years, there are several key terms that every recruiting professional should understand.
Below are five key HR technology terms commonly used:
An applicant tracking system, commonly referred to as an ATS, electronically handles a company’s recruitment needs. The collection and storing of resumes, applications, and other related candidate data is stored in a central, online location.
Additionally, ATSs allow recruiters to track and monitor candidates through all stages of the hiring process, from screening, to hiring manager submission, to onsite interviews, to making an offer and hiring a candidate.
Applicant tracking systems are also used to publish open jobs to your online career site, as well as multiple channels such as job boards and aggregators, and social media. The locations the job is posted and the candidates that come in through these channels are all tracked within the ATS.
The best applicant tracking systems offer robust reporting features to monitor key metrics in order to continuously improve recruitment operation efficiencies.
See: Top 5 HR Technology Predictions for 2016
Software-as-a-Service (SaaS) is another way of saying the application is available through the Cloud, or is web-based. To simplify even further, the term means that no software is physically installed onto your computer, and is instead accessed through a web-browser. SaaS providers update, maintain, and support the software, eliminating the need for the customer to perform maintenance or for their internal IT team to support the software.
In recruiting technology, “workflow” refers to the steps or statuses within a pre-determined process. For example, as a candidate applies for a position, is interviewed, and eventually offered a job (or rejected), that candidate is moved through specific steps or statuses in the hiring process.
Recruiting technologies like iCIMS allow companies to configure each step within the workflow to match their existing steps or business needs. Other steps can include assessments, screenings, background checks, and electronic forms, among others.
Because each step of a workflow can be searched upon, it’s easy to monitor where candidates are in the hiring process and identify any bottlenecks.
Recruiting and HR use multiple types of software solutions in the name of efficiency: payroll providers, background check providers, assessments, video interviewing, and more.
Integrations allow companies to connect their different systems and synchronise the data in a centralized location. This helps eliminate silos of information and redundant data entry, the latter of which is subject to human error.
In the world of recruiting, Big Data refers to sets of data that grow so large that they become difficult to process using traditional methods. Companies are now developing simple solutions for recruiting teams to use data in a more strategic way that goes beyond reporting on key metrics, including forecasting and predictive decision making.
As the recruiting industry, and the technology that serves it, continues to evolve, so will the terms used and their meanings. However, the terms listed here provide the best foundation to understanding what’s trending today.
Also read: Top 10 Disruptive HR Technology Trends for 2016
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