High Unemployment Makes Job Applicant Tracking a Priority
The United States Bureau of Labor Statistics recently revealed a slight increase in unemployment to just over 9%. The Congressional Budget Office is claiming that, according to their predictions, it’s likely to remain at that level at least through the end of 2011. The previous low of 8.8% in March, the best since April 2009, is not likely to be seen again this year. At the beginning of May 2011, there are currently 13.7 million workers unemployed in the United States, and 5.8 million of them have been out of work for more than 27 weeks.
The good news is that there has actually been job growth in the private sector this year. In April alone, 268,000 jobs were added in retail, health care, business services, leisure and hospitality, manufacturing and mining. The increase in unemployment came as a result of state and local government job cuts. Most business analysts see this as a good sign. The streamlining of government and addition of private sector jobs will eventually lead to a much healthier economy. They are cautioning business owners though to make sure that job applicant tracking systems are in place for recruiting and hiring efforts.
An applicant tracking database is designed to keep track of all candidates that apply for a certain position. Advanced versions of this type of software can keep scanned copies of resumes, list job references, and bring up a history of any single applicant and how many times they’ve applied. It can also show changes or discrepancies in candidate information. Unfortunately, when unemployment is high and jobs are scarce, candidates may elaborate on their experience or fabricate references. Human resource managers can only do so much. Having a top-of-the-line job applicant tracking system will help them make better decisions.
Another upside to going out and buying the best job applicant tracking software you can find is the search features available in their databases. If you run a large national or multinational company and are getting thousands of applicants a week, how do you keep track of them all? Tracking software allows you to index resumes and job skills when you receive them and then search for them when you need them. With high unemployment, the pools of potential candidates will be larger, so you’ll need some way to keep track of them all.
How many people are in your human resource department? How many man hours are spent on the recruiting and hiring process for a single candidate? These are the tough questions that are being asked by small business owners and corporate presidents across the country. High unemployment is an indicator that we’re not out of the woods yet from the most recent recession. Business analysts and financial experts suggest that the path to higher profit margins can be found in increased efficiency levels. Job applicant tracking software makes a company more efficient. That is its intended function and that’s why it’s such an important tool to have when running a business during this economic downturn.