If you’ve ever done SaaS sales recruiting, you know how challenging it can be. Finding reps with the right knowledge, skillset, and sales DNA is difficult. And retaining them long-term can be even trickier.
So, rather than relying on old school tactics and “a hunch,” smart companies are turning to technology to streamline the process and find elite sales talent. They’re turning to recruiting software.
Here’s why you should too.
One statistic I found extremely interesting is that “over 98% of Fortune 500 companies use recruitment software.”
Not a third. Not half. Not even 75%. But nearly all Fortune 500 companies now use this technology to find elite salespeople. These brands clearly know what they’re doing, and considering that such a ridiculously high percentage use recruiting software, there’s obviously something to it.
And when it comes to results, they’re undeniable. “94% of recruiters and hiring professionals say that using a recruitment software has positively impacted their hiring process,” and “68% say the best way to improve recruiting performance over the next five years is by investing in new recruiting technology.”
This graphic from business consulting firm, Grand View Research, adds even more perspective on where recruiting software is heading as we move deeper in the 2020s. Just look at where the market size was in 2016 and where it’s projected to be at by 2027 (light blue marks recruiting software market size).
Now, let’s look at some of the biggest reasons why this technology is something you want to implement and specific platforms to consider.
Generating SaaS sales candidates isn’t necessarily difficult. Pretty much any brand can slap a posting up on a job board and get a flood of candidates. But generating bonafide SaaS sales rockstars certainly is.
At the end of the day, there’s only so many quality standards you can have in place when using conventional recruiting tactics. Using recruiting software, however, allows you to quickly generate top-level candidates that are often head and shoulders above others.
Recruitment software essentially has built-in quality assurance, which provides you with a top-tier candidate pool right off the bat.
In the past, the only things recruiters had to evaluate sales talent on were a resume, cover letter, references, and flat out intuition. While these things can certainly give you a base level reading of a candidate, they don’t always tell the whole story.
And critical hiring decisions often ended up falling into the trap of subjectivity, which can be detrimental for obvious reasons.
But recruiting software provides you with quantifiable data, allowing you to evaluate candidates with full objectivity and transparency using visuals like these.
With just a glance, you can get a full overview of a candidate’s capabilities and compare them to others without your emotion getting in the way. This brings us to our next point.
Just like in nearly every other aspect of business, the more data you have, the better your decision-making becomes. It’s really that simple.
According to The Harvard Business School, “highly data-driven organizations are three times more likely to report significant improvements in decision-making compared to those who rely less on data.” This is why you see so many companies who use recruiting software reaching the Fortune 500.
By leveraging concrete data, this knocks down the first domino, helping them hire next level reps, which in turn, helps their salesforce be more productive, create a better customer experience, increase loyalty, generate more revenue, and so on. It’s a virtuous cycle.
When it comes to SaaS companies that hire based on candidate recommendations from HireDNA, 92% of the suggested candidates reach the top of the sales team within their first year.
Time to hire is another major concern for SaaS companies. On average, it takes about a month to fill a vacant position in this industry. And the time and energy you spend sifting through sales candidates distracts you from core business tasks.
But with recruiting software, you can reduce your time to hire significantly. Companies that use HireDNA, for instance, are able to slash their hiring time in half, quickly gaining access to pre-screened, qualified candidates that are ready to be interviewed.
Because recruiting software gives you objective data and access to such a high-level candidate pool, you’ll naturally make fewer hiring mistakes. To quantify, HireDNA eliminates 96% of hiring mistakes, which gives companies the best possible chance of finding the right talent without needless drama.
Finally, there’s a definite correlation between using recruiting software and minimizing turnover. SaaS companies that use HireDNA are able to, on average, lower turnover by more than 33%, greatly increasing the odds of keeping top talent around for the long haul.
Software recruiting has never been easy. But modern SaaS companies have access to amazing technology in the form of recruiting software. It’s evolved substantially over the past few years, and given that 98% of top Fortune 500 companies use recruiting software, there’s no denying the impact it can have. It’s just a matter of choosing the right platform that meets the unique needs of your business.
To learn more about this potent technology and see HireDNA in action, request a free demo today.
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