ROI of Recruitment Software

Break free of keyword constraints and supercharge your recruiting team. Get in-depth and insightful candidate data to instantly source, score, and rank top talent.

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Supercharge Your Talent Acquisition Strategy

Automate redundant and unproductive recruiting tasks. Free up recruiter time to connect with and secure top talent instantly.

Time to Hire

Cut time to hire by 50%

Be the recruiting hero hiring managers dream of

Team ROI

Reduce TA costs up to 75%

Boost your recruiting ROI

Diversity, Equity & Inclusion

Triple the diversity of your talent pipeline

Eliminate unconscious bias in sourcing

Sourcing

Reduce candidate sourcing time by over 90%

Instantly discover high-quality passive candidates

Screening

Accelerate time to interview 
by 85%

Spend time connecting, not screening

Expert & Executive Search

Pinpoint talent with specialized hard to find skills

Uncover Hidden Gems

Time to Hire

Cut time to hire by 50%

Be the recruiting hero hiring managers dream of

Sourcing

Reduce candidate sourcing time by over 90%

Instantly discover high-quality passive candidates

Screening

Accelerate time to interview 
by 85%

Spend time connecting, not screening

Expert & Executive Search

Pinpoint talent with specialized hard to find skills

Uncover Hidden Gems

Diversity, Equity & Inclusion

Triple the diversity of your talent pipeline

Eliminate unconscious bias in sourcing

Team ROI

Reduce TA costs up to 75%

Boost your recruiting ROI

Unleash The Power of Talent Intelligence

Eliminate unconscious bias and power efficient and effective recruiting decisions with high-quality data and deep system intelligence.

Discover the best talent

Passive Candidate Sourcing

Get instant access and deep insight into more than 500 million highly-skilled professionals from around the world to consolidate passive sourcing efforts.

Clone top performers

Ideal Candidate Modeling

Choose top employees and model the skills you seek based on their profiles. Censia then maps out related skills and analyzes dozens of career factors to develop a candidate model creating a ranked slate of similar talent profiles.

Woman asking herself "what is talent intelligence?"

Automate candidate comparisons

Predictive Analysis

Save hundreds of hours screening resumes and instantly develop a shortlist of best-fit candidates. Machine learning and predictive analytics process candidate information, compare it to millions of other profiles and ranks suitability for open roles.

Unlock existing employee potential

Internal Mobility Matching

Limited resources often cause internal mobility to take a back seat to new hires. Our Talent Intelligence Platform instantly sources internal candidates and compares them to external talent, allowing you to promote from within and extend the average employee lifespan by 25%.

Reignite previous candidate interest

Candidate Rediscovery

Instantly find qualified previous applicants inside your applicant tracking software (ATS), match them to new openings, and compare them to your current employees and new candidate pipeline.

Put blinders on bias

Anonymous Mode

Mitigate unconscious bias in candidate sourcing by masking bias identifiers like gender, ethnicity, age, race through anonymous mode to ensure recruiter focus on talent, skill, and fit first and foremost to uncover qualified diverse talent previously overlooked.

The Censia Advantage

What makes our Talent Intelligence Platform Stand Out?

Up-to-date data sources

We continuously map billions of data points on both people and companies across the entire talent landscape to provide the most relevant and up-to-date information available.

Single source of truth

Censia centralizes, standardizes, deduplicates, enriches, and contextualizes candidate profiles from across multiple sources to provide what we call a Golden Record. The Golden Record acts as a single source of truth providing a 360-degree professional view of an individual for high-quality data you can count on.

In-depth analysis

Take a talent-centric approach to hiring. The Talent Genome leverages a proprietary taxonomy to cluster skills and experience revealing hidden insights and capabilities to predict if an individual will thrive in a given role and determine who could be your best candidate fit.

Seamless ATS integration

Censia integrates natively with many leading ATS solutions and as a completely headless solution. Insights and intelligence are delivered through our robust and highly secure API to power your data-driven hiring decisions.

“We had been searching for a tool to help our Talent Acquisition Team find quality candidates in less time and that’s why we chose to work with Censia. The ideal candidate model is what sold us. Finding quality people within minutes versus sorting through resumes for hours is a game-changer. Censia’s Talent Intelligence Platform was a great addition to our Talent Acquisition strategy!”

Lorie Bryce
Talent Acquisition and Management Leader, Gerdau North America

“Censia helped us find hidden talent for hard-to-fill roles. We weren’t having much luck finding candidates and Talent Intelligence surfaced high-quality people for us.”

Ed Sayson
Talent Acquisition Leader, Human Resources, ARC Document Solutions

“We’ve had a very strong response with building models and reaching out. We have an extensive agreement with another platform, but more and more of my recruiters are using their Censia solution first to get in there and get some results, so there’s a bit of an irony there that one is taking over the other. These talent networks have a lot of data but Censia understands the data with greater accuracy.”

Dennis Wilson
National – Director, Talent Attraction & Acquisition, American Heart Association

ROI of Recruitment Software

When it comes to justifying the purchase of recruitment software, the return on investment, or ROI, is often the key metric. After all, businesses want to ensure that they’re getting good value for their money.

But what exactly is the ROI of recruitment software? In short, it’s the monetary value of the benefits generated by an investment. But knowing the value of those benefits isn’t enough for most companies to justify investing in recruitment software, which is why it’s essential to look at more than just ROI.

If you’re considering an investment in recruitment software, here are some things to keep in mind as you weigh the potential return on that investment.

One of the most common reasons cited for investing in recruitment software is to improve the company’s hiring pipeline. In fact, according to research from Jobvite, 43% of companies that use social recruiting say they experience improved candidate pipelines as a result. However, it’s important to remember that not all recruitment software is created equal.

Some software, like Applicant Tracking Systems (ATS), are specifically designed to help businesses manage the hiring process from start to finish. These systems can automate tasks like screening resumes and tracking job applications, saving businesses time and money. Other software, like social recruiting tools, can help companies find candidates who may not be actively looking for new jobs but are good fits for their open positions.

Whatever the type of recruitment software you’re considering, make sure it will improve your hiring pipeline in a meaningful way. Otherwise, an investment in recruitment software may not be suitable for your company.

HR Investment Considerations

The decision to invest in HR software should not be taken lightly. It’s important to weigh all the potential benefits and costs associated with any investment, including those related to HR. When it comes to calculating the ROI of recruitment software, there are a few key factors to consider:

One of the main factors to consider when calculating the ROI of recruitment software is the cost. A bargain solution may seem appealing, but keep in mind this often comes with hidden costs. When evaluating recruitment software, make sure to consider support expenses for one year and contract renewals that are easy to overlook. Recruitment software can run into thousands or tens of thousands of dollars, so it’s essential to consider all factors before making a final decision. Lost Productivity: Employees spend time dealing with rote administrative tasks such as resending resumes, and screening applicants can add up quickly if not managed properly. Utilizing HR software can help to automate many of these tasks, freeing up employees to focus on more important work. This lost productivity can be factored into the ROI calculation to estimate more accurately.

Employees’ time dealing with rote administrative tasks such as resending resumes and screening applicants can add up quickly if not managed properly. Utilizing HR software can help to automate many of these tasks, freeing up employees to focus on more important work. This lost productivity can be factored into the ROI calculation to estimate more accurately. The Cost of Hiring: When calculating the ROI of recruitment software, it’s also essential to factor in the cost of hiring new employees. HR can help reduce the time it takes to fill an open position and can also help to ensure that the best candidates are considered for the job.

One of the primary benefits of using recruitment software is increased efficiency. With the right tools in place, HR can quickly identify the best candidates for a given role and reduce time spent reviewing resumes. This can lead to significant cost savings over time.

How To Calculate Recruitment ROI

When managing your recruitment team, there are a lot of tasks to juggle. It would help if you expanded the workforce, handled new hires, and let go of underperforming staff. But how can you make sure that each step is making a difference?

There are a few ways to calculate recruitment ROI. The most common is measuring the savings from filling a vacancy through internal recruitment rather than using an external recruiter. Other factors that can be considered include time spent on recruitment, the investment in technology, and the impact on an organization’s bottom line.

The savings made from filling a vacancy with internal recruitment are easy to calculate; take the money you save by not paying an external recruiter and dividing it by how many people were hired. This will give you your average saving per hire. Then, multiply that number by the number of new employees you’ve brought on over a particular time to give you the total for your recruitment savings.

Common Recruiting Metrics

It can be challenging to know if your changes are effective when improving your recruitment process. Using metrics is the best way to determine how well a new or changed recruiting strategy works. Metrics allow for objective measurement of recruitment efforts. Tracking metrics will also help you identify areas that need further improvement.

Several different metrics can be used to track the success of your recruitment process. Below are some of the most common ones:

  • Hiring Speed – How quickly were candidates hired after applying?
  • Time to Fill – How long did it take to fill the position?
  • Number of Applicants – How many people applied for the position?
  • Number of Hires – How many people were hired?
  • Source of Applicants – Where did the candidates come from? (internal, external, etc.)
  • Cost per Hire – What was the total cost to fill the position?
  • Quality of Hire – How satisfied are management and employees with the new hire?

Each of these metrics can be tracked and analyzed to help you improve your recruitment process. One of the most important metrics to track is your recruitment software’s return on investment (ROI). ROI measures how much money was saved or earned due to a particular action. In the case of recruitment software, the ROI would be calculated by comparing the cost of the software to the savings generated by using it.

How To Calculate ROI on Talent

The first step in calculating the ROI of recruitment software is determining its cost and how long it will take for the software to pay for itself. The software cost can be measured in terms of the initial purchase price and the cost of maintaining and updating the recruitment solution.

The time it takes for talent acquisition software to pay for itself can be measured in terms of costs saved, cost per hire saved and increased revenue per hire. The easiest way to measure these metrics is with qualitative data that describes your employees’ experiences when using the software.

Once you have determined the cost of the recruitment software and how long it will take for the software to pay for itself, you can begin to calculate the ROI of the investment. The ROI calculation will vary depending on your company’s specific situation, but the following equation can be used as a general guide:

Benefits refer to all of the positive outcomes generated by using the recruitment software, while costs refer to all of the adverse outcomes avoided by using the software. This equation can be modified to reflect your company’s specific situation by replacing “benefits” and “costs” with more relevant terms.

The Future of AI in Recruitment

While people may still be undecided about the benefits of AI in recruitment, one thing is sure: The future for this technology is bright. In a recent survey by Software Advice, approximately 29% of companies said they planned to invest in software that incorporates some form of AI within the next 12 months. Companies are interested in using AI because time and cost savings can become realized after a few years. Additionally, AI can eliminate human bias from the recruitment process, resulting in a more diverse workforce, a growing goal among all SMBs.

In fact, AI technologies can help various businesses improve their ROI by 1.5 times or more within two years. This is due to several factors, including the ability of AI to source and prescreen candidates more quickly than a human can and the capacity for AI to learn over time, making them even better at identifying qualified talent.

Businesses must work with a recruitment software vendor to achieve these results to understand AI and its capabilities. Not all vendors have the same level of expertise, so businesses should do their research before selecting a partner.

The bottom line: If you’re looking to improve your ROI in recruitment, it’s time to invest in AI-enabled software. With the help of a good vendor, you can see a variety of benefits within the next couple of years.

The ROI of recruitment software is bright because it can help save time and cost to a business, improve diversity in their workforce, reduce human bias from the recruitment process, and provide 1.5 times or more ROI within two years. This is possible because AI can source and prescreen talent faster than a human can, learn over time to become better at identifying qualified talent, have the ability to eliminate human bias, etc. The bottom line is that if you’re looking to improve your ROI in recruitment, then invest in AI-enabled software with the help of a good vendor who knows how this technology works. With them by your side, you’re sure to see some fantastic benefits in a short amount of time.

AI Recruitment Software

Use a combination of ai and multi-channel digital technology to create a fully automated recruitment software. The ai recruitment software is a tool that helps companies advance their hiring process. The ai technologies provide a rich set of features that allow recruiters to effectively source, engage, select, and hire the best candidates from a vast pool of applicants.

The core AI technologies powering the AI recruitment solution are computer vision, sentiment analysis, data analytics, and natural language processing to interpret all documents in an unstructured form. To help hiring managers improve their productivity, ai recruitment tools are designed to help them source applicants, run a hiring campaign, manage the interview process and close a hire.

Recruitment software is a type of enterprise software that enables businesses to more effectively fill open positions with top talent by integrating many different components into a single cohesive system. It is often used in a hiring process to automate time-consuming tasks, provide a single system that multiple stakeholders can access, and gather talent data for future recruiting. Recruitment software provides a range of features that help a company search a candidate database, screen applicants, schedule interviews, and track the progress of each hire’s interview process.

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