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How Much Should An Applicant Tracking Solution Cost?
Let’s face it, you have a lot on your plate. Not only do you have to pay your employees, track their time, and administer benefits, you also have to get them in the door. Applicant tracking solutions can help you simplify and automate your hiring process, but at what cost? Is it something your company can afford?
We previously discussed how much core HR, payroll, and time tracking solutions should cost while offering some valuable information and resources to help in your research process. In our final article discussing solutions pricing, we are talking about how much an applicant tracking solution should cost.
What an Applicant Tracking Solution Should Offer
Applicant tracking solutions should streamline your hiring process, so it’s easier to recruit, track, and onboard the right talent for your company. Look for the following features and benefits in an applicant tracking solution:
How Applicant Tracking Solution Vendors Determine Price
There are a few approaches solution vendors can take to determine the pricing of their applicant tracking systems. These different pricing models include:
Consider a solution unified with other processes like payroll and HR to eliminate duplicate data entry or errors during onboarding for a maximum return on investment.
Determine Your Needs
It’s important to determine what your current business needs are, as this will determine what you’ll pay for an applicant tracking solution. Today’s solutions are increasingly web-based and many of them are either integrated with HCM platforms or offered within an HCM platform. It’s important to determine your needs when evaluating options:
The True Cost of Outsourcing
Choosing an applicant tracking solution doesn’t have to be complicated or time-consuming. Outsourcing and automating your hiring process means a more efficient hiring process that saves you time and results in happier, confident employees. The key is to have the right resources and look at what problems you’re trying to solve for your company. With more and more job candidates taking to social media in their searches and using their smartphones to apply, you have to make sure you’re using the right solution to attract the right talent. The true cost of outsourcing your applicant tracking processes and tasks could actually benefit you in other areas of your business:
Ready to Pull the Trigger on an Applicant Tracking Solution?
The best way to answer this question is by asking another one: what does your hiring process look like today? If you’re looking to centralize your hiring process, the next step is to gather the right resources. A buyer’s guide allows you to hone in on what type of pricing structure and solution best fits your company’s needs. Vendor review sites like G2 Crowd, TrustRadius, Software Advice, and Capterra allow you to get the real goods from actual users before you even talk to a provider. Finally, and we can’t stress this enough, demos are vital to choosing the right solution for your organization.
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