Recruitment and hiring are difficult, so much so that companies often need multiple personnel to manage it. Sourcing quality candidates and recruiting for open positions can be a tiresome, weeks long process. That alone can drive a hiring manager mad. we haven’t even mentioned employee retention. By the end of the hiring process companies have spent valuable time and money, on recruiting, interviewing, and onboarding their new hire; all of that goes to waste if the employee leaves the company shortly after.
It can take anywhere from 30 to 40 days and over $4,000 per position for companies to source the talent they need. Furthermore, hiring managers can spend up to 60% of an annual salary on sourcing candidates, and use anywhere from 10 to 20 different tools to manage the process. That’s a lot of time, money, and features to waste on an employee that turns out to not be the right fit. For many, it’s not as easy as picking the next resume out of a pile and making a call. So how do businesses address this problem?
Too often, companies miss out on quality talent because there’s no way to save candidate information for future positions. Your company’s next superstar may have already tried and failed to get a position, but with no way to search for their resume or contact them about a new opportunity, businesses miss out on a potential qualified employee.
Joonko found that companies often want to maintain relationships with diverse candidates in the event future opportunities arise. That’s where the Closed Circle comes in. In addition to reducing sourcing time by 16% and saving companies $11k or more in recruiting expenses, Joonko has mastered the technology to make it all effortless.
Once a candidate ends the journey from a company’s hiring process, they are flagged in their Applicant Tracking System (ATS) as ‘rejected.’ At this point, it’s typically the end of the road for both employer and candidate. However, Closed Circle gives companies the opportunity to keep qualified talent at an arm's reach and provide a second chance for a candidate to find a fit within the company. See, it’s a win-win situation; the company has maximized their ROI and an applicant has a second shot at a new position.
Closed Circle is a special feature Joonko created to help companies hire and retain great talent. Companies often lack the bandwidth and manpower to direct talent from one position to another, even if the applicant would be an excellent fit. These candidates may not have worked out in one position, but they might be perfect for another. With talent acquisition teams bombarded with positions to fill and talent KPIs, they need all the help they can get.
The process is simple:
Hiring great employees is important for any growing business. Retaining that talent is another matter entirely. By adding a layer into your recruiting software that intelligently sources candidates and matches them to open positions, recruiters save valuable time and money. Joonko’s technology seamlessly integrates with any ATS to match open positions to qualified, diverse candidates. By utilizing Closed Circle to reconnect with past applicants, businesses maximize their ROI on their talent pool.
With all the dialogue around building a better talent pipeline, you’ve probably heard the terms “recruiting” and “sourcing,” but do you know the difference?
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