Ten Reasons HR Tech Systems Need a Private Label ATS

Co-workers discuss integrated applicant tracking

Today’s forward-thinking HR tech companies integrate a private label applicant tracking system (ATS) into their product to stay relevant and empower their clients to make great hires. Recruiting regularly a top workplace challenge, and the businesses HR tech serves must ensure the right positions are filled, applicant traffic pipelines remain steady, and employee turnover is reduced. 

A private label ATS doesn’t just solve HR technology clients’ number one problem, it can help HR solution providers transform their entire business. How?

If you've arrived here ready to start your private label applicant tracking system journey, please sign up for a demo below. Otherwise, read on to discover how a private label applicant tracking system will benefit your HR tech. 

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Ten Reasons All HR Tech Can Benefit from a Private Label Applicant Tracking System

Generate Revenue

A common practice in SaaS companies is to focus on customer acquisition and retention to increase profits. So while an integrated ATS can undoubtedly help with those goals, savvy companies will focus on monetizing their newly integrated ATS to generate revenue.

A study of 512 SaaS companies showed monetization was 4x more efficient than acquisition and 2x more efficient than retention in improving growth. Monetization can mean finding ways to increase your value (by acquiring a solution to solve your customer’s number one problem) and raising prices to reflect that new value. It can also entail monetizing the ATS value-add as a feature you know customers will happily pay additional fees to integrate into their suite of offerings.

One of the fastest ways to grow a business is to increase the average revenue per user (ARPU) generated annually by your clients. Integrating and monetizing an ATS means you can charge customers more for a service they desperately need.

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Increased Customer Retention

If you can’t solve your clients’ top business challenge, they’ll look for an alternative solution—the dreaded churn that plagues all SaaS companies. Customers abandon SaaS platforms when they must seek additional solutions, but your platform becomes a full-stack solution with ATS integration.

Churn happens when a customer moves to another product for various reasons, mainly because they feel the SaaS product isn’t adding value or customers simply aren’t utilizing it. ATS integration addresses SMBs top problem. Businesses can be passive about a lot of problems, but not recruiting issues.

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Gain a Competitive Advantage

While 98% of Fortune 500 companies utilize an ATS, only 35% of SMBs use an applicant tracking system. More than 60% of the market doesn’t realize how an integrated ATS can transform their business! Give yourself a competitive advantage by having another tool in your arsenal to attract new clients and delight your current ones by transforming their recruiting efforts.

Beyond the gains made for your client base, private labeling a recruiting solution has additional significant upsides for your business:

  • You can design and own your integration by leveraging open APIs to provide a secure, seamless data transfer into your existing systems. 
  • With your primary products driving your customer experience, your engineers, product managers, and other teams can curate how clients access an integrated recruiting solution and what custom features are most beneficial to the overall system infrastructure. 
  • Developing a bespoke solution will set you apart from your competitors.
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Extend the Bandwidth of Your Team

HR systems have to deal with expanding your team’s bandwidth when helping others hire their dream teams. Partnering with a prebuilt ATS means your company is acquiring the skill sets, expertise, and time of an expertly trained team to help supplement the excellent work your team does. 

Two big reasons for customer churn are bad (or lack of) onboarding and bad (or lack of) customer service. While all good companies try to put the customer experience first, rapid growth or lack of resources and expertise can stretch even the best customer service teams. When an HR system partners with an ATS, they not only get premium hiring software but can sometimes utilize the company’s customer service team to help with onboarding and customer service issues. Partner teams can also extend a company’s marketing, sales, and IT efforts, freeing your employees to grow your company through your core product. 

When you partner with a competitive private label solution, you get the added benefit of the professional support of their expert team, which could include everything from customer service to marketing to engineering, which allows your team to focus on core functionality. It also allows you to give your customers a heightened customer experience and drive additional revenue. Some examples include: 

  • Sales and marketing support can help you get additional customers through email nurture campaigns, webinars, and content creation. 
  • An expert product team means your ATS will always have new features and functionalities to delight customers, and someone to keep up with ATS trends. 
  • Customer success and support means your customers are getting support and resources from the team that created and knows the ATS, resulting in a much better end-user experience. 
  • The private label team can also train and enable your employees to educate current and potential customers about the long-term benefits of ATS use. 

Two big reasons for customer churn are ineffective (or lack of) onboarding and poor (or lack of) customer service. While all good companies try to put the customer experience first, rapid growth or lack of resources and expertise can stretch you thin. Private label partnerships are built-in insurance that your customers get the support they need.

Increased Productivity

Capterra found that organizations using an ATS are 40% more productive than organizations functioning without one. That’s a statistic geared towards the end-user, but think how more productive your PEO and ASO employees can be if they don’t have to worry about servicing or supporting one of your solutions! 

Extend the Reach of Your Networks

A competitive private label applicant tracking system company already has valuable relationships with major and niche job boards that can benefit your customers. Additionally, they may have established relationships with third-party integration partners ranging from background checks to video interviewing companies. You could try to build those sorts of networks from the ground up, but partnering with a company with established relationships will always be the stronger networking strategy. 

While companies partnering with a prebuilt ATS can expect some level of support from the ATS team, HiringThing provides our partners with 360-degree support—that’s why we trademarked the phrase, Partner Perfection

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Expand Market Share

ATS solutions are in high demand, and the market is forecasted to grow. The digitalization of the HR function and the need for recruiting automation have recruiters and HR professionals turning to applicant tracking systems to solve their recruiting challenges. As a result, the ATS market is expected to reach $1.81 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.3%.

You could read further why Private Labeling is a Great Way to Take Advantage of the ATS Market here.

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Benefit Your Customers

Employees are the most powerful, essential, and often most expensive resource for most businesses, and as an HR solution, you’re tasked with helping organizations maintain and retain that resource. 

Hiring is perenially a struggle for many organizations but in our current climate, it’s been unprecedented. Being able to provide end-users a salve to their hiring challenges is beneficial to any human resource solutions. 

  • 86.1% of ATS users say it’s improved their time to hire. 
  • 94% of ATS users say ATS use improved their hiring process. 
  • 78.3% of ATS users say ATS use improved the quality of their hires

Our post, What A Private Label Applicant Tracking System Does for End Users, does a deeper dive into all the ways ATS use serves the end-user. 

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A Low-Risk Investment

A private label investment is low risk since organizations can terminate their subscriptions if your experience isn’t profitable. Additionally, private labeling (vs. building a product from scratch) means you don’t have to waste valuable time and money on development costs—DevSquad reports that building a minimum viable product (MVP) averages 2 to 10 months but can take much longer. 

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Control Your New Product

If you simply subscribe to an ATS service in the traditional product/customer sense, you’re at the providers’ mercy when it comes to any product enhancements or changes, whether those changes benefit your business model or not. 

A private label partnership is more collaborative. You can choose what workflows and options are available to your customers. While private label developers can’t always make all the updates or enhancement suggestions of their customers, they will work with you to ensure the product is driving your growth and take your feedback and insights into consideration. Private label partnerships truly are partnerships. 

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An Ability to Scale

As your clients grow, so will their HR needs, including hiring. That’s why it’s crucial HR Solutions offer solutions that can scale to meet the news of growing (also shrinking) clientele. Private labeling applicant tracking systems allow you to customize the workflows to scale alongside your clients. 

Because private labeling is a bespoke solution, the workflows, offerings, and capabilities at your disposal can also grow while your HR Solution grows. The bigger your organization gets, the more complex your processes can get, and having this solution and partnership can ensure processes don’t get too complex and you can continue offering exemplary service your clients have come to expect. 

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Gain a Strong Job-Board Network

A competitive private label applicant tracking system company already has valuable relationships with major and niche job boards that can benefit your customers, often at reduced rates. Additionally, they may have established relationships with third-party integration partners ranging from background checks to video interviewing companies. You could try to build those sorts of networks from the ground up, but partnering with a company with established relationships will always be the stronger networking strategy. 

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Download Our Economics of an Integrated ATS Report

As the leading private label ATS in the HR SaaS space, HiringThing has created The Economics of an Integrated Applicant Tracking System: How HR Solutions Can Improve Their Bottom Line.

This report will examine:

  1. Why ATS integration is a necessity for today’s HR tech stack. 
  2. The speed and convenience of ATS integration. 
  3. How an ATS will ultimately improve the bottom line.
  4. The buy versus build dilemma.
  5. The economics of an integrated ATS.

When you consider all the benefits of an ATS, acquiring this product enhancement seems like a no-brainer. Download your copy of The Economics of an Integrated Applicant Tracking System: How HR Solutions Can Improve Their Bottom Line today.

 
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About HiringThing

HiringThing is a modern recruiting platform as a service that creates seamless hiring experiences. Their private label applicant tracking system and open API enables technology and service providers to add hiring capabilities to their solution. Approachable and adaptable, their platform empowers anyone, anywhere, to hire their dream team.

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