As the Professional Employer Organization (PEO) industry rapidly changes it's important for businesses to stay on top of the trends and competition. The National Association of PEO's (NAPEO) estimates the PEO industry grew $8 billion in gross revenue in 2012. They also accessed that PEOs are a relatively youthful industry, around 30 years old with lots of room to grow.
With the Affordable Care Act looming in 2014, the PEO industry will see an increase in small businesses begging for help with their human resources and benefits. Obviously, the PEO with the most robust service offering will secure the business.
Expanding your services to include recruiting and hiring will make your PEO an easy choice against the competition who don't offer any selection services. There are several tools on the market to help PEOs recruit and hire for their clients, we broke down the 4 most important that you can implement today.
Also known as an ATS, an applicant tracking system is a software application that enables the electronic handling of recruitment needs. An ATS is very similar to customer relationship management systems, but are designed for recruitment tracking purposes.
An ATS is a lifesaver for recruiters who get flooded with resumes and applications and have no technology to organize them. A good ATS will provide the user with a customizable survey for applicants to take immediately after they apply - resulting in a percentage score. The hiring manager, whether it be a PEO employee or client, will be able to use that score to determine interest in interviewing.
A job board is a web-based resource that posts open positions where applicants can submit their resumes and hiring managers can submit a job. Generally job boards offer premium or sponsored plans where the hiring manager or company can pay extra to make their jobs appear at the top of the page or search.
Job boards are an important part of the recruitment process as they are the third source of external hires, behind referrals and career sites. If you want an adequate pool of candidates to choose from, job boards should be the first place you post your open positions.
Background checks, personality assessments, and skills testing all fall under the verification services umbrella. In order to be successful in recruiting you must verify the new hires. Create a process of recommended tests for each new hire which should include a collection of background checks and skills testing to ensure you have the right person working for your clients.
These days, it's all about selection management, not resume storage. Traditional Applicant Tracking systems are extremely limited in their ability to help managers make better hiring decisions. You’ll be able to store and organize resumes, perhaps connect to a few job boards, and run some reports, but functionality typically stops there.
Selection Management takes the four existing categories of hiring-related HR Technology - applicant tracking, testing and assessment, verification, and onboarding - and combines them into one integrated platform to answer the "which person should I hire?" question for you and your customers.
Selection Management Systems, pioneered by Hireology, bring all of these features together without the need for multiple vendors or costly integrations. For companies looking for selection management that's easy-to-buy and easy-to-use, a Selection Management System is the way to go.
Want more information about how you can begin recruiting and hiring for your clients? Download our latest ebook for advice and tips from the world's best hiring system.