As we are entering a new era of evolution, automation has been observed in almost all walks of life. It has overtaken not only the spheres where it is visibly in action but also has become the backbone of operations that are not obvious to the public at large. One such revolutionary technology that is slowly picking up the pace to come to the forefront is the Applicant Tracking System (ATS). This feature has revolutionised the hiring process right from identifying the hiring needs to the onboarding of the new recruits.
An Applicant Tracking System is a software application that helps carry out the entire recruitment and hiring process. The contemporary hiring sector where the number of job seekers is always much more than the number of jobs available requires a system like ATS. Sorting out suitable applicants from the vast collection is the first significant, and time-consuming task HR managers have to deal with. An Applicant Tracking System can do this task within a fraction of seconds. This software has proved to be useful for industries of all sizes. Especially in India, where the picking up economy has a high employment rate.
However, the concept of an Applicant Tracking System is not new. It was created in the late 1990s, and since then, it has only grown in popularity. According to research by Jobscan, 98% of Fortune 500 companies use an Applicant Tracking System. Another survey by KellyOCG suggests that 66% of large companies and 35% of small organizations rely on recruitment software.
One of the fundamental reasons for the growth and big user-base of this software is because of Globalisation. As the governments of various countries are always making an effort to have an integrated market system, the exchange of labour and resources becomes easily accessible but bigger to process. Globalisation has become synonymous with greater employment opportunities. This, in turn, meant the increased workload of the HR team in every setup. That is where the ATS technology comes into play. This technology ensures a smooth hiring function for firms. The second reason for the growth of this software usage is the COVID-19 pandemic. During the pandemic, everything was shifted online, from nursery schools’ classes to cabinet meetings. This catalysed the need for digitalisation at a very quick pace which also required efficiency. The HR team of every organisation started resorting to the ATS.
From 2020, ATS has seen exponential growth. Companies have started using it and a new sector is coming up where the market is for the ATS software. This sector is not temporary because such software will only grow in use. Companies like Apple and Google have their own ATS. however, many start-ups have started emerging in this sector. One significant company is RecruitNXT from India. The market competition between these companies will be an interesting one.
As the world is diving into more technology-based discoveries, the global economy has reached the epitome of inventions. The irreversible change of ATS will be a one to invest in and look out for.
Article by :- Sudhanshu Chauhan