Can You Handle All the Job Applicants That Are Coming Into Your ATS?

Almost exactly one year ago I posted about a coming tsunami of applicants hitting the market (link in comments). Since that post, tech companies alone have laid off over 244,000 people (link in comments), and that’s not including smaller startups. To put that number in perspective, those same tech companies “only” laid off 80,000 at the height of the COVID pandemic from March – December of 2020, and only 15,000 layoffs total in 2021.

And that is just the tech industry. According to a recent Randstad Risesmart study (link in comments), 96% of companies took some sort of downsizing action over the past 12 months, and 94% anticipate taking further action in 2024.

You can see this tsunami of applicants playing out by just looking at some of the jobs posted on LinkedIn. They’ll be posted for hours and get hundreds of applicants.

In my post a year ago, I wrote about how talent acquisition (TA) teams were going to get downsized. With a lack of innovative tools, recruiters (or even TA leaders) would find themselves drowning in a wave of applicants. Unfortunately that is exactly what is playing out.

I probably don’t need to enumerate all the challenges that come as a result of having too many applicants and no way of efficiently and effectively screening all of them.

What does all this have to do with a lion and gazelle running?

Well, unfortunately many TA teams didn’t fundamentally change their tools or processes to handle this wave of applicants, and as a result they are dealing with those consequences.

In 2024 TA teams are either going to be hiring, albeit with an even smaller team, which means an even higher ratio of applicants to recruiters. Or, they are not going to hire in hopes the market returns in 2025.

Whether you are hiring (i.e., lion) in 2024 or not (i.e., gazelle), you should be implementing innovative technology NOW (i.e., running) as opposed to waiting until the problem is out of control, as I wrote about in a different post (link in comments).

You can’t control the market. You can’t control the hiring your company wants to do. But you CAN control the technology you use to manage those hiring peaks and valleys. If you don’t plan to put solutions in place in early 2024 to solve the coming problems in 2025, by the time you realize you have a problem…it’s going to be too late!