Our white label applicant tracking system is the foundation which HiringThing has built our HR tech platform. Using our unique hiring solution as an example, we’ve created this brief guide to explain what a white label applicant tracking system is and its many benefits—including introducing new revenue streams, increasing functionality, strengthening customer retention, and the ability to quickly and efficiently expand into new markets.
While some organizations build their own applicant tracking systems from scratch, and some purchase another vendor's and use that, white labeling can be considered a marriage between the two.
White labeling an applicant tracking system (or any SaaS functionality) is when the white label vendor (HiringThing, in this instance) creates the hiring software and is in charge of updating and maintaining it. The white label customer purchases a subscription to partner with the white label vendor to brand and present the ATS as their proprietary solution. This allows the white label ATS partner to add a new, branded solution to their organization—showcasing their innovation and strengthening the brand they’ve worked hard to build—without building it from scratch and moving their team’s attention away from their core product(s).
White label applicant tracking systems have copious benefits for organizations utilizing them:
Adding a proprietary recruiting solution to your organization means adding the opportunity for new monthly recurring revenue (MRR), which is especially valuable since hiring has been the top HR challenge facing companies across all industries for the past few years. Recruiting solutions are in high demand.
Monetizing new solutions is 4x more efficient than acquisition and 2x more efficient than retention in improving revenue growth.
The more customers purchase additional products or services you offer, the greater their overall value to your business—they’re more likely to stay with your platform long-term (equalling long-term MRR).
Customer churn is an issue for every organization—the average business churns through 30% of its technology platforms yearly—and preventing churn helps drive revenue (a 5% increase in customer retention can increase profits between 25% and 95%).
By incorporating recruiting solutions within their existing platforms, companies make it easier for users to manage the entire hiring process seamlessly. This increased usage leads to greater customer satisfaction and loyalty, reducing churn rates.
Studies show that SaaS companies selling more than one solution increased retention by nearly 20%, while SaaS providers with at least four solutions show an 80% retention rate.
When you white label a new SaaS solution, you get that new technology and the team that helps power it. For example, our partners here at HiringThing also get the assistance of our teams to help with implementation, marketing, compliance, sales, onboarding, and customer service during their partnership.
Additionally, our partners don’t have to worry about updating the product themselves. Our product and engineering teams work out any technological challenge, keep abreast of the latest trends, and always look to improve the product with new functionalities and features, like our AI-Assisted Resume Screening!
Adding a new recruiting solution to your organization’s offerings allows you to expand into new markets.
“We’ve seen our partners use their white label ATS to break into new markets that needed digitized hiring solutions,” says HiringThing Marketing Director Joanna Campa. “This has been especially effective with businesses trying to break into new markets dominated by legacy vendors that didn’t have recruiting capabilities. An ATS is often the differentiator that gives these partners a leg up!”
Gartner reports that 80% of tech organizations are developing new initiatives designed to make them more innovative, resilient, and competitive. White labeling an ATS does just that, quickly and efficiently adding a new initiative that customers are seeking—currently, 74% of organizations feel their recruiting strategies are underperforming.
The average company replaces 39% of its SaaS applications with ones that have more functionality. Today’s B2B consumers want their SaaS apps to solve as many workplace challenges as possible, not simply offer one solution. This benefit intrinsically ties into churn reduction and new revenue opportunities!
A substantial white label advantage is getting your new product or service to market faster than developing an ATS from scratch. We’ve had partners launch their new ATS just days after signing with us!
Here at HiringThing, we serve a wide variety of clients: HR Tech organizations, HROs, Vertical SaaS organizations, franchises, and professional associations are among some of our most popular client segments.
“While traditionally, we’ve had the most customers coming from the worlds of HR tech and HROs,” says Campa, “we’ve recently been seeing more and more vertical or niche software companies taking advantage of the ways we can customize their ATS to fit the nuances and niche needs of the industries they serve. We’ve also seen much interest from organizations serving industries that have been slow to digitize. Every business needs to hire new employees—it’s often an easy sell to digitize hiring first.”
While numerous factors affect the building of an MVP (minimal viable product: a product that satisfies customers' needs and starts generating revenue), estimates place the cost between $50,000 and $250,000.
Timewise, Building an MVP takes an average of 2 to 10 months but can take much longer. You must also factor in the time it takes to hire or outsource new talent to produce your new solution, the time to get that talent up to speed, the learning curve for marketing and selling your new product, and consider the challenges and pivots that arise during the software development process.
As this piece has demonstrated, white labeling helps organizations avoid the time and monetary costs associated with building a customized ATS from the ground up.
While we are known as a white-label ATS vendor, we also offer a very popular white-label modality called private labeling.
Private labeling goes a step further than the branding that happens with white labeling. Private labeling allows companies to brand a SaaS product as their own or work with the private label developer to customize the platform to fit their organization’s specific needs. In the case of an ATS, bespoke workflows, add-ons, and functionalities can be customized to fit the needs of any organization that partners with the private-label provider.
While all private label solutions are white label solutions, not all white label solutions are private label. The key differentiator is the customization.
Though an essential part of the recruiting, HR departments and organizations that offer HR tech solutions have been overlooking employee onboarding—42% of companies don’t have dedicated onboarding technology, 36% of employers say a lack of onboarding technology options is one of their main challenges, and only 12% of employees believe their organization does a great job of onboarding.
Since hiring and onboarding are intrinsically linked, and since we’ve been preaching the benefits of adding new solutions to open up new revenue streams, lower customer churn, and expand your market share, HiringThing is excited to announce that we’re now offering white label onboarding solutions in addition to our white label ATS!
While HiringThing partners can choose to white label one or another depending on their business needs, being able to offer clients and customers a proprietary, seamless hiring and onboarding solution is currently unprecedented. Check out the link below if you’d like to know more about the benefits of employee onboarding!
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 HR 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.