One of the most important aspects of a successful business is its ability to attract talented new employees. Without a steady stream of candidates, an organization will fail to register meaningful growth, develop existing business relationships, or maintain a high level of competitiveness. While any company understands the benefits of marketing, some still think it’s acceptable to skimp on recruiting. These organizations need to rethink their spending strategies, and to do so, they should examine a few of the common reasons why companies fail to invest in strong recruiting practices:
1. They don’t think they have the money
Spending any amount of capital in a business setting is a daunting task—not to mention something that requires everyone to be on the same page. If the company’s management can’t convince the owners of the need for additional spending, it won’t happen. However, investing implies a long-term reward, not an immediate gain, and companies should recognize the benefits of a well-funded recruiting strategy will come over the course of months or years, not days or weeks.
2. Other items take precedence
The lack of a long-term strategy also means other priorities may arise that will postpone investing in recruiting. When companies allow “wants” to take precedence over “needs”—for example, replacing the office chairs instead of putting that money toward better recruitment marketing—they will slowly fall behind the competition.
3. They haven’t identified an effective strategy
Why spend money if you don’t know what to do with it? Organizations that don’t have a plan in place aren’t just going to throw away their money. Instead, they should develop a viable, comprehensive plan for how they can improve recruitment, how much it would cost to do so, and how long it would take to implement.
4. They don’t see the value in it
Some companies might not be convinced spending more money on recruiting will yield better results. These organizations may not be aware of the advancements in the field—not only does a better recruiting strategy bring stronger applicants, but it also reduces unnecessary expenditures and time-consuming tasks on the logistical side. It’s important for companies to educate themselves on the best practices of recruiting in the 21st century.
One single platform can answer these doubts: an applicant tracking system (ATS). It’s an investment—like any other improvement to a company—and one that is certain to pay off within a reasonable time frame. The best ATS can streamline logistical processes, trend relevant data points, make updates to online job postings, ease the application system for candidates, and eliminate paper waste. Then there are the less-quantifiable returns: stronger candidates, more talent overall, higher regard among job seekers, and a better ability to expand. Along with a strong team and ample planning, recruiting software is the smart way for a company to invest in itself.