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Global finance recruiting starts with the right ATS

Automation is a big topic these days, and for good reason. We’re all looking for ways to work faster and more effectively. Applied to global finance recruiting, automation can help simplify tasks and make processes more efficient so your business can fill roles with less hands-on work. In an age where a company’s success depends heavily on its talent pool, it’s essential that you have the best talent working with you as you pursue your goals.  

Let’s explore a few ways you can use automation in recruiting processes to improve how you find the right finance talent quickly. 

 

Current challenges in finance recruiting 

Today’s recruiting teams are faced with challenges that didn’t exist just a few years ago. For starters, people are prioritizing (and in some cases, demanding) remote work opportunities more than they did in the past. 

Remote works adds an extra layer of complication to recruiting, but it’s also an opportunity. Previously, an applicant’s location was a major factor in the jobs they applied for. Now talent can apply for jobs all over the country without limitations.  

In other words, there is no such thing as a big fish in a small pond anymore. Labor markets are far more open than they’ve ever been. Employers can now seek candidates who best meet their needs and align with their mission and values, regardless of where they call home.  

Keep in mind that remote work can open you up to a lot more competition from other employers. And with increased competition comes a greater pressure to improve your speed-to-hire metrics. This is where recruiting process automation can be a game changer. 

Interested in learning more? Download the iCIMS ebook, 5 Tips to Scale Recruiting With Automation.

 

How the right software can help  

If you’re overwhelmed with the recruiting process and relying on manual processes and clunky tools like spreadsheets, finance recruiting software is cheat code. The right talent acquisition software can help engage candidates, automate and streamline processes, and eliminate busywork. All of which can save you time, money, and effort.  

With talent acquisition software you can:  

 An essential component of talent acquisition software is the applicant tracking system (ATS), which streamlines the recruitment and hiring process for recruiters and candidates. In the simplest terms, job seekers use the ATS to apply and recruiters use the ATS to manage applications electronically.  

 An ATS gives talent teams an organized, scalable way to accept, store, and sort job applications and resumes. Many ATS solutions offer enhanced features that assist with the search for talent, candidate interviews, and skill assessments 

 

Real world results  

There are a lot of applicant tracking software vendors out there. How do you know which is right for you?  

Well, no two teams are exactly the same. With iCIMS Applicant Tracking, you can specifically tailor the software to deliver exactly what your team needs. With the right ATS, you can create workflows tailored to the way you recruit.  

Read this post to learn more about how to choose an ATS and the features that TA teams need. 

 

Here are success stories from financial firms that use the iCIMS ATS as a part of their talent acquisition tech stack:

Paramount Residential Mortgage Group (PRMG) relied heavily on manual processes for recruiting, including spreadsheets and Microsoft Word. The fast growing firm needed an applicant tracking system—supported by a talent acquisition platform—that could keep up with their need for talent by making hiring easier and more efficient. Its decision to move to the iCIMS ATS yields 50% more applicants per month. With iCIMS, PRMG’s team also creates job offers 83% faster. 

Simply put, automating basic hiring processes can save money and speed hiring. Just look at AmTrust Financial, a multinational property and casualty insurer specializing in coverage for small to mid-sized businesses. A few years ago, its manual recruitment processes and disparate HR systems were unable to support its expansive growth. In fact, by 2015, AmTrust was spending $16 million with staffing agencies to source and hire talent and taking more than 80 days to fill open positions. 

In 2016, AmTrust strongly considered using Workday’s native recruiting module for their hiring needs. It was a sensible option, at least on paper: the rest of the business was already on Workday. But having used the less ideal option for years, AmTrust wanted a more mature applicant tracking system and opted for the iCIMS Talent Cloud instead. 

In making the switch, AmTrust saved an impressive $13 million in recruiting costs and increased pipeline of qualified, engaged talent by 700% with iCIMS ATS. 

“We chose iCIMS to streamline the organization’s recruitment strategy because we needed a system that understood modern-day recruiters and prioritized recruitment. With iCIMS, our candidate experience is a thousand times improved,” said AmTrust’s vice president of talent acquisition. 

The finance recruiting business will continue to be a competitive one. Firms that use software purpose built for recruiting can improve the speed and efficiency of their hiring processes, which can result in better candidate experiences and improved hiring results.  

Interested in learning more? Download the iCIMS ebook, 5 Tips to Scale Recruiting With Automation.   

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