In this blog post, we will look at candidate relationship management software to help improve your candidate sourcing and engagement.
In today’s busy technological world, there is an abundant amount of relationship management software out there. But deciding what tools to use for your recruitment process is important for the success of your recruitment and candidate experience.
What is Candidate Relationship Management Software (CRM)?
In simple terms, a CRM is a tool that helps you manage your organisation's relationship with candidates. It aims to improve their experience at every stage of the hiring process, from initial attraction to ongoing engagement.
What are the benefits of candidate relationship management software?
1. Fill jobs faster
A CRM helps recruiters fill job vacancies much faster by connecting with potential candidates through automated Processes. These processes include email marketing, job recommendation portals, recruiting event functionality and much more.
2. Builds detailed candidate profiles
When a candidate applies for a role, a high-quality CRM captures all of the candidate's details. These will include the obvious such as name, career skill set, interests and even social accounts. The CRM also has tracking on candidate movements to note all interactions with the company. Some CRMS even allow background checks to be run on candidates. The CRM tools help you decide if the candidate is a good fit for the vacancy.
This is a huge benefit to recruiters as they can have an overall view of each candidate profile in one place, without having to spend hours and hours on end searching through different databases.
3. Builds talent pools
A complete CRM can really help you find the best talent. This is achieved by attracting new people to join and by evaluating already interested candidates who might not have been considered in the hiring process before. It's important to capture the details of candidates who have previously shown interest in your company. While they may not have been successful in the past, they may be a great fit for another role. You need a tool to built on interested candidates.
4. Automated communication with candidates
Being able to stay in touch and within a great response time period will increase your candidate satisfaction. Companies who send candidates updates on the recruitment progress, send reminders of cut off dates and send trigger emails to new job postings will not only keep the candidate informed but takes the pressure off the recruitment team. - While leaving a great impression on candidates.
5. Gives you a head start on hiring top talent
You have the high-value talent already built in your CRM system. Those of which have been nurtured by you with personalised marketing over time. This put you at a significant advantage over your competitors in securing the best candidates.
6. A CRM feeds you analytics and data that may often get overlooked
A smart CRM system identifies and reports back to you the different stages where your candidates may drop out of the recruitment process. This is crucial feedback to make relevant changes to reduce candidate dropout.
7. A CRM gives candidates an insight into the culture of the company
Candidates who receive marketing and communication from a company CRM system get a great insight into that company culture. Candidates who can engage, invest and relate to company culture are a much better long-term fit for the company. Significantly reducing turnover.
What is a recruitment CRM?
A recruitment CRM is a software that is used by recruiters to manage the recruitment process. It helps in tracking the progress, all times of interaction with candidates, job opening postings and many more.
A recruitment CRM focuses on managing all the aspects of the candidate relationship so that, recruiters are not juggling more than one task at a time. The best part about this system is that it offers insight into all the conversations had with applicants which means that you can easily track their interest in your company.
What are the differences between customer relationship management (CRM) software, candidate relationship management software and applicant tracking system (ATS) software?
This is where it can get confusing. While most of us have heard of CRM, we probably think of customer relationship management software not candidate relationship management software. Below we explain the differences.
Customer Relationship Management software
A Customer relationship management system is software that is used by organisations to maintain and manage customer relationships. Customers are the foremost concern of any service industry and it is necessary for companies to be able to better understand their customers’ needs, desires, likes, dislikes, incomes, careers or professions.
A CRM system is deployed as an integrated part of a company's marketing process to generate leads for sales personnel. In this scenario, the CRM software can integrate with a marketing automation system that tracks customer behaviour on web pages and sends emails that trigger certain actions from the customer or prospect. Marketing automation systems can also measure which web pages a prospect viewed on a website and which emails they opened.
There are many benefits of using a CRM system for business growth:
CRMs, or customer relationship management systems, are a great way to organize and maintain a business' relationships with its customers. CRMs help businesses track the success of their marketing campaigns and increase sales with targeted email campaigns. They're also a great way to measure how well your team is doing against goals and deadlines, as it provides detailed statistics on everything from time spent on projects to the number of emails sent.
Candidate Relationship Management software
The candidate relationship management software is a specialized type of CRM software for recruiters.
The candidate relationship management software is a specialized type of CRM software. Its main focus is on sales and marketing with an emphasis on customer service and retention.
Applicant Tracking System
Applicant tracking systems are a type of software that helps companies to manage the entire recruitment process. Making ATSs a commonly used software tool for departments.
The applicant tracking system is a useful tool for recruiters as it provides them with information about the candidates that they have been considering. It helps them to keep track of all the data that they have collected from those candidates as well as their progress in the recruitment process.
Applicant tracking systems can either be on-premise or cloud-based. One of the key differentiators between these two types is who usually owns and maintains them – on-premise being internal and cloud-based being external.
The difference between customer relationship management (CRM) software and applicant tracking system (ATS) is that the former has a broader scope, covering all aspects of the business-to-customer relationship.
Understanding the differences between customer-relationship management (CRM) and applicant tracking system (ATS) is vital to select appropriate software for your company needs.
Throughout this post, each time we use the abbreviation CRM we are referring to Candidate Relationship Management Software.
Features of Candidate Relationship Management tool
A good recruitment CRM will be able to help recruiters save time when it comes to managing their candidate relationships. It should also give them the tools they need to be more effective when it comes to getting in touch with potential applicants.
A successful CRM for recruitment will have features that allow recruiters to keep track of all the information they need in order to present themselves as a good employer, while also keeping up with all aspects of their candidate’s journey.
Some common features of a CRM include:
- Filtering candidates with keywords
- Automated communication
- Email marketing content and promotions
- Collaboration tools for recruiting teams
- Recruitment analytics
- Candidate management
Cost of CRM software
Recruitment CRM is a cost-effective solution for small and medium-sized companies. It helps to manage the entire recruitment process, from sourcing to closing the hiring.
While there are many products in the market claiming to be CRMs, not all of them are worth your time or money. The majority of vendors offer free trials so you can make sure that this software is worth it before you spend any money on it. But before you start looking for these products, here are some tips that will help you find the right recruitment CRM software for your business:
The price of a recruitment CRM will depend on its complexity and features; small and medium-sized companies can use one that will suit their needs without breaking their pockets.
Security of a CRM
The security of recruitment CRM is one what will be the most important considerations when choosing a program.
There are many factors to consider when choosing a recruitment CRM. One of the most important decisions is deciding how much security you want for your personal data. There are many free programs but many of them will share your data with other companies or sell it to third parties without your knowledge or consent.
Is Candidate relationship management software worth it?
The CRM in recruitment is an important part in order to streamline the process of finding new talent. A CRM should be able to support recruitment functions, like sourcing and screening candidates, managing relationships with candidates and hiring managers.
A candidate relationship management software (CRMS) is an effective solution for recruiting departments, especially for small-sized companies without a dedicated team or budget.
A good CRMS should have a database that integrates all the necessary information about candidates and sending them emails on a regular basis. It also should have a module for managing recruiters’ tasks which will help them automate functional tasks of a recruitment CRM.
If you want to automate your process of finding new talent, consider implementing an effective solution that will help you streamline recruiting tasks.