What It Will Cost Your Business to Install Applicant Tracking Software

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There’s no such thing as an inexpensive hiring spree, yet most companies waste money when it comes to finding the perfect applicants for their jobs.  Although there are countless ways to reach out to workers and have them apply: organizing them is where the real trouble lies.

Applicant tracking software gives your company the chance to go through countless applications and then decide on the best choice for your business.  Unfortunately, a lot is left in the air about these softwares, and many companies have questions regarding what they cost.  This is what you need to know.

What Does The Software Do?

Before we get to prices, companies must understand how much applicant tracking software brings to the table.  Not only is it capable of organizing your applicants based on their work history and education, but it can also let you know who’s bidding for the job within your price range and what type of people are interested in your business.  This can be helpful for future job listings and get a feel for how the public views your business as a whole.

Your Type of Platform

Is the software installed on your computer, or is it only used within a browser?  Programs built into browsers often use monthly fees, while downloadable software usually has a much higher one-time fee.  Whichever type you choose will strongly affect how much you pay in the long run.

The Number of Users You Need

How many members of management and HR need to have access to the account?  The more users required, the more you may have to pay depending on the software.  Although some don’t charge differently based on this, it’s a reality that many do charge for.

Your Level of Support

How much support will your company need every month? For example, would you like the software company to offer help choosing applicants?  Or would you prefer a more hands-on approach?  Although there’s no wrong answer to this, the level of support you request will directly affect how much you pay.

Advertising Your Listings

Advertising your job listings is a popular way to get more eyes on it. But, unfortunately, there’s no way to tell how many eyes your listings will get the old-fashioned way, so paying for advertising to find these future applicants where they are can help attract more people to your listing.

It’s important in advertising to show off your company’s best attributes and avoid listing dollar amounts.  If you find an application that likes you enough and would charge far over your budget, you may be able to talk their prices down: otherwise, if they already know the pricing, they won’t click on the listing at all.

Getting Down To Numbers

Applicant tracking software can range from free to tens of thousands of dollars a year.  For the average company with five to ten users having access to the account, the price would be around $3,000 annually, which comes out to $250 a month.  Although this can seem steep, it’s a small price to pay for the best employees around.

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