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APPLICANT TRACKING SYSTEM: INTRODUCTION TO AN APPLICATION SOFTWARE ENABLES THE ELECTRONIC HANDLING OF RECRUITMENT NEEDS
An applicant tracking system (ATS) is an application software that enables the electronic handling of recruitment needs. These systems can be accessed online by enterprises at different levels depending on the company needs, allowing companies to collate and analyze job applicant data.An Applicant tracking system is also known as candidate management system, the software is used by enterprises to recruit employees more efficiently. ATS can also be used to post job openings on a corporate website or job board for screening resumes as well as generating interview requests to deserving candidates through e-mail. Individual applicant tracking, automated resume ranking, pre-screening questions, response tracking, multilingual capabilities requisition tracking, and customized input forms are some of the features included within the software.
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The key benefits of applicant tracking systems are increase in efficiency along with saving time that helps in sorting applicant data, automating the whole procedure, and freeing up time that can be spent elsewhere. In addition, it is the reduction of recruitment related costs, improving overall cost per hire, along with improvement in internal mobility within an organization that are key factors that have also positively driven the market.
Geographically, North America and Europe have been the key regions driving the market demand for applicant tracking systems globally. Faster and timely access to desired applicant related data along with the dearth of job specific candidates has been a few major drivers for this market.
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Asia Pacific is one of the fastest growing markets in terms of application with China, India, and South Korea being key countries driving the market. It is seen that growth in automation and digitization along with high demand for saving company time and costs towards a particular candidate has been driving this market in Asia Pacific.
Some of the key players operating in the global applicant tracking systems market include Taleo Corp. (U.S.), Jobvite (U.S.), International Business Machines Corporation (U.S.), iCIMS Inc. (U.S.), ADP LLC (U.S.) and SAP SuccessFactors Corp. (U.S.) among others.
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