Acquiring Company and Job-Specific Salaries for Effective ATS Integration
Acquiring accurate and up-to-date salary data is a crucial aspect of optimizing job postings and streamlining the recruitment process. However, many companies struggle with obtaining the right salary information for their job listings, especially when it comes to integrating this data into their Applicant Tracking Systems (ATS). This article will explore various sources and methods for obtaining company and job-specific salaries, and offer practical advice on how to integrate this data into an ATS for recruiters to use effectively.
Challenges in Obtaining Company-Specific Salary Data
For companies that do not wish to invest in custom market research, acquiring accurate company-specific salary data can be challenging and expensive. These figures vary widely depending on factors such as company size, location, industry, and company culture.
Custom Research Solutions
Many organizations opt for custom research solutions, which can provide highly detailed salary data for a specific company or organization. While these services can offer valuable insights, they often come at a high cost and may not be worth the investment for smaller companies or those on a tight budget.
Industry- and Functionally-Specific Salary Data
Industry- and functionally-specific salary data can provide a more balanced view. For example, JobSite provides industry-specific salary data, which can be useful for recruiting across various industries. However, the data should be reviewed and validated by a compensation department to ensure accuracy and relevance.
The Role of McLagan
McLagan is a leading provider of salary data for specific industries and functions. While the data they provide is highly sought after due to its depth and detail, it is typically not directly usable in an ATS because of its presentation format. This means that the compensation department or a dedicated team would need to extract and transform the data into a format suitable for ATS integration.
Surveys as an Alternative
One effective alternative to custom research and McLagan data is to conduct surveys. Online surveys can gather salary information directly from employees and job candidates, providing both current and industry-specific insights. While this method may not be as comprehensive as custom research or professional salary databases, it can be a cost-effective and less time-consuming option.
Implementing Surveys
Surveys can be designed to gather data on several aspects of compensation, such as base salary, bonuses, and other benefits. The data collected can then be analyzed and used to set accurate and competitive salary ranges for job postings. This data can also be shared with internal stakeholders to ensure the company is offering fair and competitive salaries.
Benefits of Using Surveys for Salary Data
Cost-Effective: Surveys are typically less expensive than custom market research or professional salary data services.
Timely: They can be conducted quickly and provide up-to-date salary information.
Relevant: The data is gathered from a sample that is specific to the company or industry, making it more relevant and accurate.
Engaging: Surveys can encourage employee participation and provide valuable feedback.
Integrating Salary Data into an ATS
Once the salary data is obtained, the next step is to integrate it into the ATS. This can be achieved by:
1. Preprocessing the Data
Ensure the salary data is in a compatible format for the ATS. This may involve converting tables, charts, or raw data into a structured format such as CSV or Excel.
2. Customizing Job Descriptions
Update job descriptions to include accurate and competitive salary ranges. This will make it easier for candidates to understand the compensation package and make informed decisions about their applications.
3. Training ATS Users
Train recruiters and hiring managers on how to use the new salary data in the ATS. Provide them with examples and best practices to ensure effective use of the data in the recruitment process.
Conclusion
Acquiring and integrating company and job-specific salary data into an ATS is a crucial step in the recruitment process. Whether through custom research, professional salary data providers like McLagan, or surveys, the key is to gather accurate and relevant data. By following the steps outlined in this article, companies can ensure that their job postings are competitive and attractive, ultimately leading to a more successful recruitment process.