Identify patterns in the hiring process to improve recruitment efficiency
Analyse signals and behaviours indicative of talent acquisition processes
Identify improvements to the recruitment process
Identify where the best source of candidates have come from
Understand the ideal profile of good performers in the business
What is talent acquisition software?
Talent acquisition software is a useful resource for businesses. It is also known as talent acquisition analytics software. It helps organisations find and hire new employees.
Companies can use talent acquisition analytics software to improve their hiring process. This software allows businesses to make decisions based on objective data rather than subjective evaluations. It helps businesses to identify patterns in their recruitment process and accurately forecast which candidates may be the best fit.
Additionally, this software enables companies to keep track of employee performance and satisfaction in order to make better decisions about retention and employee growth. By utilising talent acquisition analytics software, companies can make data-based decisions which will assist them in recruiting and keeping the most capable personnel.
What are the key benefits to recruiters of using talent acquisition analytics software?
Recruiting talent and getting it wrong can be very expensive. The Australian HR Institute conducted a study, in partnership with ELMO software. They found that the cost to hire a worker had risen significantly. In 2020, the cost was $10,500. In 2021, it had risen to $23,860.
By utilising talent acquisition analytics software, companies can save time and resources while improving their recruitment efforts.
The key benefits of using talent acquisition analytics software include:
- Better decisions
This data-driven approach enables recruiters to make more informed decisions about who to interview and ultimately hire.
- Increased efficiency
Identify patterns in the hiring process, which can help them to refine their strategies and make improvements.
- Employee retention
By combining with employee experience insights, recruiters can improve over employee experience, satisfaction and retention after they have been hired.
What is the difference between
talent acquisition & talent management software?
Talent acquisition and talent management software are essential for businesses. They provide two key services: analysis to find new employees and management of employees in an organisation.
It is essential for employers to be aware of the distinctions between these two kinds of software. This understanding allows them to comprehend how the features can be applied to facilitate those activities.
What are the features to look for in a talent acquisition software?
The key features that businesses should look for in talent acquisition analytics software are:
- Answers questions which have a commercial impact on the business.
- A user interface which is user friendly and easily understandable.
- Integration to systems which captures a broad range of employee characteristics and behaviours such HR, communication, productivity and financial data.
- Leverages predictive analytics
- Implements industry best practise information security frameworks.
- Is designed with employee privacy as a core principle.
What makes Culturate stand out?
Culturate has a range of features that allows organisations to realise the benefits of employee retention analytics.
- Tracking how quickly candidates are going through the funnel.
- Understanding the best source of leads for talent.
- Determining what behaviours make a model employee which can be used as guidelines for future hires.
- Integration with other systems including HRIS, payroll, communications and productivity tools.
What kind of companies is this best suited for?
Culturate's talent acquisition analytics software is best suited for organisations that want to gain insights into their workforce and make data-driven decisions about recruitment.
Some examples of organisations that may benefit from using workforce analytics software include:
- Large corporations with a significant number of employees, where a vast amount of data is generated and needs analysis.
- Companies that want to improve their recruitment process by identifying sources of high-quality candidates or optimising the recruitment process.
- Companies that want to improve employee engagement, satisfaction and retention.
How much does talent acquisition software cost?
The cost of talent acquisition analytics software can vary depending on your company's size and the features you may require.
You can contact us today to get a detailed quote or request a demo. Additionally, you can also try out Culturate's ROI calculator to see how our employee experience software can be beneficial for your business.