How Small Businesses Can Use HR Software
As a small business owner, finding and hiring the right talent can be a daunting task. Not only do they have to compete with larger companies for top candidates, but they also have to navigate challenges such as diversity, matching skills with the position, and filling the position quickly. With limited resources and time, this process can become overwhelming and lead to costly hiring mistakes. Also, only around 20% of small businesses have applicant tracking software. Ethical AI talent software, like ThisWay can help organizations overcome that hurdle.
How Do Small Businesses Typically Find and Source Talent?
Small businesses typically find and source talent through a variety of channels. According to a report by the National Small Business Association, approximately 36% of small businesses use online job boards, 34% rely on word-of-mouth referrals, and about 22% utilize recruitment agencies. This process can be time-consuming, taking anywhere from a few days to several weeks, or even months, depending on the complexity of the role and the industry.
LinkedIn’s Global Talent Trends report suggests that it takes an average of 36 days to fill a role. Meanwhile, a report from Workable indicates that small businesses may take even longer due to their limited resources. The use of HR software, such as ThisWay, can significantly streamline this process by automating several steps in the talent acquisition process, thereby reducing the time and resources needed to find and hire the right candidate.
ThisWay Helps Small Business Owners Without an Applicant Tracking System
According to Software Path, only 26% of small businesses have implemented an ATS. One reason for this relatively low adoption rate could be the perceived complexity and cost of such systems. A survey by Capterra revealed that 37% of small businesses cite high costs and 26% cite complexity as barriers to adopting ATS.
ThisWay can help small business owners find qualified, diverse talent, without an applicant tracking system. The platform lets employers post a job description to ThisWay’s network of qualified talent, score candidates against a debiased job description, and research potential candidates to fill a new position.
Scoring Candidates for an Open Position
Scoring candidates is a crucial part of talent acquisition, especially for small businesses looking to maximize their resources. By objectively evaluating applicants based on their skills and experience, businesses can focus on the most qualified individuals, which in turn can decrease turnover rates.
ThisWay takes scoring a step further by comparing applicant data from job postings with the job requirements, thus ensuring an effective match. Through this, small businesses can avoid wasting time on unqualified applicants, leading to a faster hiring process. With bias removed from job descriptions, small businesses have an opportunity to promote diversity in their workforce, further enhancing their overall productivity and creativity. The “Score” feature of ThisWay allows a small business owner to find the best candidates from their job application data.
Narrowing the Playing Field With Talent Acquisition Software
Competing with larger companies for top-tier talent is one of the biggest challenges faced by small businesses. Larger companies often have deeper pockets and can attract skilled professionals with competitive pay and robust benefit packages. Small businesses, on the other hand, may find themselves losing promising candidates to these corporations.
Talent acquisition software like ThisWay can help level the playing field. It equips small businesses with the tools to effectively identify quality candidates quickly. It allows small businesses to focus their resources on the candidates who are the best fit for their company culture and job requirements. This reduces hiring time, cost, and the risk of losing highly skilled professionals to larger competitors.
How ThisWay’s Platform Helps Small Business Owners
ThisWay’s platform helps small businesses find and attract competent talent. The “Attract” feature allows business owners to upload a job posting, remove any implicit biases, and share the job listing with a qualified candidate pool in the ThisWay network. This enhances visibility and increases the odds of sourcing the best candidates for the job.
The “Discover” feature provides a platform for passive candidate exploration, enabling business owners to browse potential hires based on skill set and experience, which can be pivotal in unearthing hidden talent.
The “Score” feature adds another layer of efficiency by allowing the owner to upload applicant data and the job posting. This feature then conducts a comparative analysis, thus identifying the best-suited candidate. Through these features, ThisWay helps small businesses in their talent acquisition process, making the process smoother and more effective.
Book a Demo With ThisWay
ThisWay empowers small businesses to make smart choices when it comes to sourcing qualified talent. According to Intuit, small businesses are set to grow by 7% over the next decade, highlighting the importance of efficient talent acquisition in maintaining this trajectory. With ThisWay, small businesses can effectively compete with larger corporations for top-tier talent, foster diversity in their workforce, and maximize resources.
Even without an applicant tracking system, small business owners can utilize ThisWay to share a job posting, browse qualified talent, and score candidates for a job posting. ThisWay’s unique AI-driven approach helps streamline the entire recruitment process, ensuring a perfect match between job vacancies and the skills of potential employees. This ensures small businesses save time, energy, and money while maintaining high hiring standards. Book a demo with ThisWay’s team today to see how you can compete with larger companies to find the top talent.