In business, scaling and growth are often thought to be the same thing. Even though they are related, there are subtle differences between the two.
When one speaks of business growth, they are usually referring to an overall expansion. This expansion, however, may not reflect an increase in revenue. For example, if you spend $200k on a new sales staff and that staff adds $200k to your annual revenue, you still experienced growth as a business. In sum, the gains and losses balance out.
Scaling, on the other hand, occurs when revenue outpaces spending. For instance, if you hire another sales staff for $200k but this time you research them and they end up adding a total of $500k to your revenue stream, then you have successfully scaled your business.
Of course, not all value is immediately monetary. When it comes to scaling your business, your Human Resources Department might define values in terms of effective sourcing, recruiting, onboarding, and training. Also, building a strong team of employees takes time, and expenses add up quickly. How can you ensure more streamlined recruiting, onboarding, and training processes?
This is where online talent management software comes into play. Here’s how it works:
Sometimes, the best candidates do not know to come to you. How can you attract them? You guide them to you.
Of course, you cannot reasonably expect even the most dedicated HR professionals to source such candidates manually. The right online talent management software addresses this issue by finding your ideal candidates where they are. For example, maybe the candidates that best meet your needs frequent a specific job board. The software will know to target such boards.
You post a job on a popular job board, and applications start flooding in. It can be difficult to sift through all these applications to find the perfect fit. Fortunately, the best online talent management software can often comb through these applications in search of specific keywords.
Additionally, the software can help you determine which sites and recruitment methods are bringing in the best candidates. That way, you can begin your next hiring campaign with a clearer picture of what you are looking for.
Onboarding can be an arduous process no matter how organized your HR department is. You have to collect countless documents from new hires and ensure that benefits, payroll, and training information are all accounted for. You must also ensure that your new hires can access all this information as needed. Online talent management software makes this possible.
You want to make a good impression on new employees from the start. When onboarding is effortless, new hires can trust that your business runs smoothly. This translates to happier employees, which, in turn, leads to higher retention rates.
Furthermore, the scalability of most online talent management software keeps all essential information in one secure, easy-to-access location. Not only will your data never be lost, but you also don’t have to double-save and reorganize every bit of new information just to guarantee that you will not lose it forever.
Find and Train the Best Candidates With Online Talent Management Software
It is much easier to scale your business and build a dynamic team with online talent management software. Such software promotes greater efficiency and security, which helps your HR team find and onboard the right person for the job every time.