Why Is It Important To Invest In A Solid CRM System?
James Clear, the author of Atomic Habits has said that “Goals are good for setting a direction, but systems are best for making progress.”
That one statement is enough to convey the importance of a system. It’s the same when it comes to recruiting talent for your organisation. A solid system for candidate relationship management has the power to make or break your recruitment efforts. But what exactly is candidate relationship management and what does it include?
What is Candidate Relationship Management?
Straight up, candidate relationship management is the process of attracting and engaging worthy candidates and cultivating an authentic relationship with them over time. Ideally, a candidate management system software is used to manage the early stages of the hiring process with potential candidates. However, with the job market becoming more competitive with each passing day, a credible CRM can be deployed to find exemplary candidates that are the right fit.
A CRM can also be used to engage with candidates while they are going through the hiring process. Think of a candidate relationship management system as a directory that includes information about past candidates (the ones you liked but were unable to hire) and passive candidates (not actively looking for a job change but great at what they do).
An effective CRM system fuels your recruitment efforts with quality talent, available to you when needed and within the set budget.
Importance of Candidate Relationship Management
A career-related decision is one of the most important decisions anyone makes in their entire life and the company they choose to join is a part of that decision. How you communicate with a candidate during the hiring process gives them insight into what their work life will be, should they choose to join your organisation. This is just one of the reasons to invest time and energy in building candidate relationships.
- Create a pipeline of valuable candidates
Hiring is no longer a once-in-a-year activity. It is something that an organisation must continually work on. As a company, you have to be engaging, enticing and connect with candidates if you wish to attract the best. Continuous engagement will help you cultivate meaningful relationships, allowing you access to the best of the best, thereby creating a high-value candidate pipeline that you can tap into as and when needed.
- Develop prospects
Candidate relationship management is more than simply contacting a candidate once, taking their information to create a database and then forgetting about them until the need arises. You must engage with them based on their interests. This can be done with regular newsletters and by sharing important information that is relevant to them. Find ways to keep the communication open.
- Differentiate from competition
You have to stand out from the prospects that your choice of candidates have available to them. You have to become their dream company; one they would be willing to join as and when the opportunity presents itself. This will only be possible if you stand apart as an entity that adds value to them.
What is recruitment CRM software?
Recruitment CRM software is a system that allows you to manage all the operations concerning your talent acquisition efforts. Right from sourcing the right candidates to simplifying communication with them, CRM software does it all. A properly built CRM system must have these functions:
- Source and conversion rate analytics
- Talent directory/database
- Robust search functions
- Ability to shift candidates based on current job openings
- Call to action leading to a landing page
- Email and text campaign functions
The goal of using CRM software is to increase the overall talent pool of candidates who fit well into your organisation and may be interested in making the move whenever possible. The best way to go about it is to think of the candidates as consumers. You market yourself and want them to have a positive employer brand experience. You can also use your CRM software to:
- Reduce reactive hiring
- Creating a positive candidate experience
- Lower hiring cost
- Engage and nurture candidates
Benefits of investing in a CRM
CRM software allows the HR team to engage with qualified candidates, accelerates sourcing efforts and reduces the time and cost involved in hiring. But there are more benefits to using CRM software.
- Sourcing and creating a database of quality talent
Searching for credible candidates is never easy. So, how do you find them and connect with them? Technology-driven CRM software is the answer. They have in-built features that help find and connect with candidates who fit into your job description.
Not all quality candidates can be hired at the time they’re found and it is difficult to let go of great talent. CRM software creates a database of all the talented candidates that can be accessed whenever you need it. A recruitment CRM will also help you maintain relationships with the candidates which is extremely beneficial in the long term.
- Branding and content management through CRM
Sourcing and connecting with talent is one thing but how do you make yourself the choice of employer for them? Through recruitment CRM software, you can illustrate to candidates what you have to offer. You can brand yourself and communicate to the candidates what the company is about, your values and motivations, your mission and much more. With this solid employer branding, you can get the candidates to choose you.
Content management is one of the most challenging tasks when it comes to cultivating candidates. A CRM can help you generate and share relevant and valuable content with the candidates to nurture their interest in your organisation. Email marketing, message updates about job openings and job ads specific to candidates can be deployed across social media channels.
- Storing employee referrals
Employee referrals are one of the primary and most effective sources of finding quality candidates and as research shows a candidate is 46% more likely to accept an email if they’re connected to your existing employees. CRM software allows you to store candidate information and brings it up when there is a vacancy for the relevant role.
- Quality onboarding
Employees always remember how they are treated in the initial days of joining a company. You can use your CRM software to send out personalised welcome messages and schedule updates and meetings. This will simplify their work and make them feel wanted and important which is a great motivator.
- Tracking ex-employees feedback
Some websites track ex-employee experience at any given company – the good, the bad and the ugly. This ex-employee feedback is visible to everyone visiting the website. Your recruitment CRM software can track this information and report it to you which allows you to make the necessary changes to improve things for the existing and future employees. There is always space for improvement and your CRM software tells you about the gaps that need to be bridged and the strengths that need to be maintained.
- Reports on analytics
A recruitment CRM system records data at every step of the hiring process. All the important analytics like views on job ads, clicks on your website, predictions of time required to fill a vacancy, etc. will be readily available to you whenever you need them. These reports will help you identify patterns and links that will help you make decisions toward organisational growth.
A CRM system can greatly aid the hiring efforts of an organisation. Used right, it can create a pipeline of qualified and talented candidates who you can nurture and in due time, approach to become a part of your workforce.