Hiring leaders at top organizations know that great people make great companies. But given today’s highly competitive job market, it is becoming increasingly difficult to source exemplary candidate. That’s where CRM, or Candidate Relationship Management, comes into play. Creating and maintaining a robust, healthy relationship with potentially suitable candidates is paramount to finding the right person for the job.
What Is Candidate Relationship Management?
Candidate relationship management is a systematic program used by HR professionals and recruiters to build candidate engagement and improve candidate experience. It is primarily beneficial in developing and managing relationships with past and present candidates, as well as potential future ones. CRM operates on the principle of viewing one’s candidates as consumers, and ensuring that they have a positive employer brand experience with the organization. Today, there are various automated CRM software solutions to help you attract and recruit high-value candidates. Understanding the best ways to use these solutions and manage candidate relationships can help recruiters hire more effectively.
What Are The Benefits Of Candidate Relationship Management?
1. Create A Wider Talent Pool
A major benefit of using candidate relationship management is that companies have ready access to a broad talent pool. There is a constant inflow-outflow of suitable applicants, and CRM software enables collation of all the CVs and data of people interested in working for the organization. This talent pool provides hiring managers and recruiters with a greater number of hiring opportunities and a wider choice of potential employees for a particular role. Nurturing and building relationships with prospective applicants well in advance of available positions saves the business in terms of time and cost, leading to optimization of performance.
2. Get A Head-Start In Recruitment
Using CRM systems gives companies an edge over their competitors when it comes to speed of recruitment. CRM systems allow companies to ask applicants whether they would have an interest in alternative roles that could come up in the organization. If these applicants are not hired at present, their data remains at the company’s disposal for future reference. When any suitable vacancies arise, the company can avail of this data to reach out to these candidates instantly, informing them of the available positions. This is of immense benefit as it eliminates several steps such as sourcing from the hiring process, saving time and resources. Speedy recruitment also enables an organization to get successful candidates into their positions faster, keeping the business running seamlessly.
3. Detect Talent Leakages
Talent leakages happen when candidates drop out of the recruitment process and the company loses promising potential employees. It is important for businesses to detect the reason behind these leakages, and using a CRM solution is an ideal way to do this.
Organizations need to investigate talent leakages in order to establish an effective recruitment strategy. CRM programs enable companies to remain in touch with candidates who have dropped out and find out more about their experience during the recruitment process. Understanding the cause of leakages can help businesses fill the gaps and remedy any glitches in their hiring process. There are various CRM smart solutions that record every interaction with the candidate and capture analytics data that can identify what exactly led to a dropout in the hiring timeline.
4. Track Prospective Talents More Effectively
Just as companies change, evolve, and grow, so do candidates. People are constantly upskilling themselves, learning new processes and techniques, getting degrees, and adding to their experience over time. CRM helps companies to keep track of their candidates, their latest qualifications and how they are progressing in the industry. CRM smart software and trackers help businesses to gain more insight into the evolution of past applicants, letting them know about high-end talent availability in the job market the moment it emerges. The company can reach out to those candidates immediately, gaining a vital edge over their competitors and saving recruiting time and costs. Establishing a robust relationship with promising candidates also improves the chances of successfully recruiting them when suitable vacancies arise.
5. Establish Your Employer Brand
A good recruiting strategy is all about marketing. Businesses need to establish a strong employer brand and position themselves as top organizations where people want to work. A good CRM program can help form the foundation of this strategy.
Today’s job force is particular about working at places that match their beliefs, core values, and work ethics. Companies should have a reputation for maintaining healthy relationships not just with their current employees, but also with former ones. CRM can generate a positive and robust image of your organization that apprises potential candidates of your commitment to being a great place to work, where they can grow and flourish alongside the business. Whether you reach out to potential candidates or they contact you, the vitality of a strong employer brand created using CRM can ensure that you attract, hire, and retain top talent.
With recruitment going through uncertain times, it’s a good opportunity for companies to refine and transform their candidate relationship management strategy. The way an organization manages its candidate relationships will directly impact how these candidates perform once they are employed. Candidate relationship management done right will reward your business with a wealth of high-level talent.
Employvision is one of USA’s leading IT recruitment agencies and we have been in the business of recruiting top IT talent for over 15 years. We help reduce your recruiting cycle time while improving your candidate experience and retention.
Contact Employvision and start hiring the best IT talent today!
