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An Applicant Tracking System is the Ultimate Non-Dues Revenue Solution Professional Associations Need
Staying relevant and financially sustainable for professional associations can be a constant challenge. Member dues comprise only 39% of the average association’s total revenue, meaning establishing viable non-dues revenue (NDR) and diversifying your NDR streams is essential to ensure longevity and growth.
One powerful yet oft-overlooked NDR source is having a customized applicant tracking system (ATS)—hiring software built to optimize, automate, and strengthen the hiring process—to offer members, helping them with the number one problem businesses of all sizes and industries have been facing for the last few years: filling open positions with high-quality workers!
62% of successful associations developed new products or services in 2022.
This blog will explore why an ATS is the best non-dues revenue option for professional associations.
While this blog is about why hiring is the best association NDR, we also have a blog listing other NDR options you should check out!
Why An Applicant Tracking System is the Ultimate Association Non-Dues Revenue Stream
- Enhanced Member Value Proposition
- Hiring is the Top Challenge Today’s Businesses Face
- Applicant Tracking Systems Have Proven Results
- Data-Driven Insights
Enhanced Member Value
39% of associations indicate that “lack of value” is a top reason for members not renewing memberships. While numerous association offerings may not resonate with members, all businesses that belong to an association would benefit from hiring support. Hiring has been the top challenge for businesses of all industries over the past few years—55% of associations that offer some career or hiring services reported an increase in the use of those services in 2022.
An ATS not only brings in non-dues revenue but also elevates the value proposition for members. Such an offering fosters loyalty and engagement among members, leading to higher retention rates and a larger dues-paying member base.
Hiring is the Top Challenge Today's Businesses Face
We mentioned it in the previous section, but it bears repeating (and is backed up with stats!) how much businesses need hiring support.
- Recruiting and retaining top talent is the top problem facing 52% of small businesses.
- The PwC HR Tech Survey found the two biggest HR tech challenges facing businesses today are finding good HR insights/analytics and recruiting (and retention) solutions.
- 74% of organizations felt their recruiting strategies underperformed in 2022.
- 89% of C-Suite executives and 83% of HR leaders say HR tech enables them to be more flexible and responsive to the constantly shifting world of work.
Forward-thinking associations will offer hiring help to their members and reap the financial rewards. Here at HiringThing, we produce a private label applicant tracking system. Associations purchase our hiring software, outfit it with their branding and any necessary customizations, and then present it as a proprietary solution. Not only does it help associations support their members with their top challenge, but it also helps generate new NDR. We’ve created the report Private Label Applicant Tracking System: A Strategic Approach to Revenue Generation for Associations to help association professionals understand just what a powerful revenue-generating tool an ATS is.
Applicant Tracking Systems Have Proven Results
We’re biased about applicant tracking systems, but the data doesn’t lie.
- 94% of ATS users said applicant tracking systems positively impacted their hiring.
- 78% of companies using an ATS say it makes recruiting easier.
- 86% of ATS users say the software has helped them hire faster.
- 78% of ATS users say it has improved the quality of their hires.
Check out 2023 Applicant Tracking System (ATS) Stats to for more in-depth data on the power of hiring technology.
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Data-Driven Insights
Modern applicant tracking systems have advanced analytic capabilities that provide valuable insights into the job market trends, member behavior, and skills demand. Associations can leverage this to provide additional value to customers by offering customized reports to members.
Utilizing the data collected, associations can position themselves as hiring thought leaders for the industries they serve, attracting subscriptions and partnerships that contribute to the non-dues revenue pool.
Consider Getting Your Own Applicant Tracking System
In a landscape where professional associations must innovate to remain relevant and financially stable, an ATS, especially a private label ATS, is a powerful tool. Beyond its core purpose of helping members find high-quality job candidates, a private label ATS can also help associations combat churn, increase revenue, strengthen their brand, and remain competitive. Learn more by reading Private Label ATS Association Benefits, or if you’re ready to start strategizing, contact one of our Business Development Representatives to get a conversation going.
About HiringThing
HiringThing is a modern recruiting and employee onboarding platform as a service that creates seamless talent experiences. Our white label solutions and open API enable technology and service providers to offer hiring and onboarding to their clients. Approachable and adaptable, the platform empowers anyone, anywhere to build their dream team.
