For modern businesses, the internet has provided a much wider job market, which is a double edge sword. On one hand, a wider market means a much more diverse talent pool, so you can choose a candidate that fits your position very closely. On the other hand, a much wider job market means many more applicants, which can become unmanageable to employers. Fortunately, HR technology offers employers a chance to simplify the processes for hiring, onboarding, and training employees. In fact, 1 in 3 HR professionals adopted HR technology for their business. So what kind of benefits can you expect?

Employee Referral Software (ERS) is a type of HR tech that recruits more referrals by asking existing employees to refer new talent in exchange for gifts. On average, around half of these referrals stay for more than 4 years and save $7,500 per hire. Conversely, Talent Marketplace Platforms (TMP) are the opposite, where companies reverse auction for listed candidates. Using TMP, there is a 40% reduction in time to hire, 90% increase in average candidate satisfaction, and an 85% reply rate within 48 hours.

To simplify recruitment, companies can use Workflow Automation Systems (WAS). WAS creates automated workflows, either AI or manually created, to take on the repetitive tasks that recruiters experience. This means a 7x faster hiring rate, a whopping 98% average candidate satisfaction, and a 10% higher office acceptance rate. There is also Applicant Tracking Systems (ATS), which is used by 97.4% of Fortune 500 companies and is likely the most popular form of HR technology. ATS monitors all candidates from recruiting to hiring and slashes the time to hire by as much as 93%.

Once you use other HR tech to recruit employees, you can use Performance Management Software (PMS) to track employee goals, performance, and objectives. PMS software like HireRoad see an 80% increase in recruiting efficiency, a 25% rise in business productivity, and a 50% decrease in attrition rates. For this reason, high performing HR teams are 2.6 times more likely to use PMS. Similarly, 83% of these HR professionals report a positive return on investment and 43% report an improvement in employee satisfaction. This is why 82% of businesses consider HR tech to be a critical component of their business success.

While there are many options to choose from, HR solutions companies like TalentTechPR, a notable HR tech PR agency, help make the decision easy. Rather than using individual pieces of HR technology, these HR solutions companies use many pieces of HR tech and work with your business to fulfill a business need. They can help you leverage presence via public relations for market presence, content creation for online presence, and partnering with influencers for a wider reach. Similarly, they take advantage of HR tech to organize unique events and interact with industry analysts to help give your business credibility within your industry. Whether you want faster HR or quicker recruitment to help your business grow, HR solutions companies are your best bet to take the next step for your business.

Source: Talent Tech PR