A majority of larger companies are relying more on technology tools such as Applicant Tracking Systems (ATS) to search for the right skills and experience in job seekers as recruiters and hiring managers are being overwhelmed by the volume of résumés in the current job market, according to an article from The Wall Street Journal (WSJ). An expert on Applicant Tracking Systems from International Business Machines Corp. (IBM) quoted in the story said the proportion of large companies using ATS is in the “high 90 percent” range and it is “very rare to find a Fortune 500 company without one.” The Wall Street Journal reports that while job boards and networking websites help large companies broadcast job openings to a wide audience and allow applicants to apply for jobs easily, many recruiters are finding at least 50 percent of job seekers do not possess the basic qualifications for the jobs they want to possess. This “qualifications gap” has resulted in the need for large companies to use Applicant Tracking Systems to search piles of résumés for the right skills and experience. Some experts estimate that Applicant Tracking Systems screen out approximately half of all résumés at many large companies. The WSJ article cites the following examples of larger companies that use Applicant Tracking Systems to find qualified job candidates in a veritable mountain of applications:
- Starbucks Corp. had 7.6 million job applicants for approximately 65,000 corporate and retail job openings over the past 12 months.
- Procter & Gamble Inc. received almost a million applications for only 2,000 new positions last year.
- PNC Financial Services Group uses Applicant Tracking System software to filter out applicants for bank-teller jobs if their résumés do not indicate that they have two to three years of cash-handling experience.