Applicant tracking system (ATS) enables electronic handling of staffing requirements by collecting and storing resumes. Depending on the requirement of organizations, these can be accessed online or implemented on enterprise, or can be obtained freely and are sometimes open sourced. Ability of these systems to track massive workloads, reduce the requirement of manual workforce, and reduce the overall enterprise expenses is among the major factors influencing growth of the market.
Social media integration in ATS helps in increasing the probability of finding the suitable candidate, owing to increased viewership, expansion of referral networks through mutual sharing of job openings. Inadvertently this also leads to huge data traffic, which can be easily handled through utilization of the software. Pertinent information such as employment history, educational qualifications, and employment status can be easily retrieved through the candidate’s profile data. Moreover, social media integration also enables easy access through mobile platforms. Some e-recruiting solutions are also featured with applications such as sending text messages to applicants, provide updates, request necessary information, and schedule interviews. Additionally, its application also includes detection of potential passive candidates and assisting the recruiter by adding the candidate into the employer’s online community to strategically market the employer’s brand.
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Considerable amount of time and efforts can be saved through implementation of ATS in organizations. These software help in better identification of candidates, through running an extensive automated search algorithms to suit the job profiles. Conventional software were primarily used to store, manage, and track resumes, which have considerably evolved with the growing next generation requirements. Trends such as use of mobile devices for job applications, video interviewing, candidate relationship management, and applying analytics for candidate sourcing in conjunction with conventional applicant tracking are expected to bolster the ATS market growth through the forecast period.
Applicant tracking system operation has certain functional drawbacks that includes lack of detection of potential candidates if the profile description is mentioned in different formats. Moreover, the detection capability of these systems is limited in pdf formats and lack in most of the graphical formats. This is expected to present as a major challenge for the market growth over the forecast period.
Applicant Tracking System Market Taxonomy
On the basis of organizations, the global applicant tracking system market is classified into:
Small and medium enterprises (SMEs)
On the basis of deployment, the global applicant tracking system market is classified into:
On the basis of social media integration, the global applicant tracking system market is
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Introduction of enhanced functionality and lower discrepancies to enhance high usability are expected to be part of the chief growth strategies of ATS providers over the next few years. For instance, in June 2017, RecruitBPM introduced its next generation ATS and CRM software with few advancements to fit the needs of employment and staffing firms. Major industry participants include ApplicantStack, Greenhouse Software, Lumesse, Hyrell, iCIMS, Workable, Bullhorn, IBM Kenexa, ClearCompany, SAP SuccessFactors, Findly, JobDiva, Oracle Taleo, Newton Software, Cornerstone OnDemand, Lever, and Workday.
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