Forward-Thinking Product Teams Should Consider Hiring Solutions

In the rapidly evolving landscape of technology, staying ahead of the curve is essential for businesses to thrive. As companies strive to attract and retain top talent, digital hiring solutions—typically in the form of an applicant tracking system (ATS)—have emerged as a game changer for companies across all industries (98.8% of Fortune 500 companies and 75% of recruiters worldwide utilize an ATS).

Because they use technology and data-driven insights to streamline the hiring process and net higher quality candidates—solving that top challenge for companies across all industries—embedded hiring solutions are poised to be the next big product trend, the same way embedded fintech solutions have been the last few years. 

Forward-thinking product teams will consider adding hiring solutions to their SaaS platforms to solve customer problems, keep their platforms stickier, expand into new markets, and drive additional revenue streams. It’s a savvy way to keep your product competitive and stick out from the competition, especially if you’re a platform whose competitors are ignoring this vital business solution. 

In this blog, we’ll go over why product teams should have their sights set on hiring solutions and then—full disclosure—plug why white labeling your hiring solutions (something we coincidentally do here at HiringThing!) is the quickest and most efficient way to add a hiring solution to your tech stack. 

Why Product Teams Should Consider Hiring Solutions 

• Hiring Solutions, Help Solve The Talent Crunch Facing Your Customers 
• Applicant Tracking Systems Have Proven Results 
• Embedded Hiring Can Help Customers With Candidate Churn
• Integrating Hiring Solutions is a Win for SaaS Companies 

Hiring Solutions Help Solve the Talent Crunch for Your Customers 

Hiring is currently the top business challenge across almost every industry, compounded by the fact that finding quality talent is even more challenging. No matter what industry you serve, your customers need help to hire top talent. 

46% of HR leaders say recruiting is their top priority this year, and 84% of SMBs report challenges with hiring top talent—hiring is the top pain point for businesses across all industries. 

This poses a significant hurdle for companies striving to innovate, grow, and drive revenue. Hiring solutions address this challenge by providing innovative approaches to sourcing, screening, and attracting top talent. 

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Applicant Tracking Systems Have Proven Results 

Applicant tracking systems are proven to help your customers hire faster, better, and save time. Don’t believe us? Just check out these proven statistics: 

• 70% of businesses say automating talent sourcing would increase their productivity. 
• 78.5% of ATS users say applicant tracking system usage has increased the quality of their hires. 
• 86% of ATS users say it reduced their time to hire, and LinkedIn data found that ATS usage can shorten the hiring cycle by 60% (which today’s job seekers overwhelmingly want). 
• 94% of recruiters say using an ATS has improved their hiring process. 

Check out our post, What an Applicant Tracking System Does for End Users, for all the additional ways an ATS can benefit the customers using your product. 

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Hiring Solutions Can Help With Customer Churn

White-label solutions increase the scope of your offerings, meaning that customers have more reasons to use your platforms and stay on them. Hiring has been the top business challenge across industries for the past few years. Your customers are having hiring challenges and need technology that can help assuage these challenges. 

Applicant tracking systems help provide customers with an excellent hiring experience by streamlining the process, giving them flexibility with features like self-scheduling, making them feel good by automating communication, and giving the entire ordeal a professional sheen. 

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Integrating Hiring Solutions is a Win SaaS Companies 

In this blog, we’ve been focusing on how hiring solutions help the customers and direct users because you’re the product manager, and that’s the demographic you’re often focused on when making product decisions. But hiring solutions are also a significant win for SaaS companies on a higher level. The ATS market, for example, is expected to reach $3.4 billion by 2026. ATS integration can help your organization expand its market share. ATS integration also:

• Enables you to expand into new markets. 
• Makes your platform stickier.
• Gives a competitive edge.

We go into these benefits further in one of our newer product-driven blogs, Embedded Hiring is the Next Embedded Fintech we urge you to check out. 

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Consider White-Labeling Your Hiring Solutions

White labeling—branding a product or service as your own without revealing the original producer—is a powerful strategy for product managers to embrace. 

It saves your team time and resources, gives you access to proven products, increases efficiency for you and your team, and empowers you with greater flexibility. By considering white labeling a viable option, you can drive success for your product team and company. 

Check out our post, Product Managers Should Embrace White Labeling, if you’d like to learn more about how advantageous white labeling is for a product manager. If you’re already familiar with white labeling, however, if we’ve piqued your interest into how a white label ATS can enhance your product, set up a chat with one of our Business Development Representatives below to connect and start that conversation.