January 3, 2023
Recruiters' job entails more than hiring people via interviews, reviewing applications, scrounging job boards, managing current employees and potential candidates, etc. Modern-day hiring requires a proactive approach to attracting, hiring, and retaining professionals for the business. Recruiters deploy many tools to make their job easier. However, they need to extract the maximum value out of each investment.
Talent CRM is believed to be restricted for the HR team and used for communication and nurturing relations with potential candidates. But what if other departments could get valuable insights and leverage them?
Often talent acquisition teams get a talent CRM without any due diligence. They need to map the project requirements and get their hands on tools to complete their tech stack. This investment without research and understanding of the tool leads to poor implementation. This disturbs the existing tech stack and takes away the opportunity for other departments to use talent CRM. But can other departments actually use the talent CRM?
This blog will address what a talent CRM is and how it can be a valuable addition to the talent acquisition process. Additionally, we will look at its multiple use cases, not restricted to the HR department!
Talent CRM is a recruiter-specific tool that assists talent acquisition teams in nurturing relationships with employees and active and passive candidates. Like any ‘Customer Relation Management’ (CRM), talent CRM (candidate relation management) software aims to strengthen the relations with job candidates.
Recruiters use talent CRM to track and engage with job candidates and nurture relations with top talent. Talent CRM is like a swipe file, where a recruiter gets an overview of all the relevant information and interaction of every candidate. Talent CRM combined with ATS (application tracking system) enables recruiters to effectively source, engage, and hire professionals. Instead of waiting for a vacancy, recruiters proactively work to build a quality talent pipeline.
However, TRM (Talent Relation Management) software and ATS (Application Tracking Systems) are different. Often, companies confuse the two because they provide comprehensive information about the job candidates. However, both of them have distinct purposes.
ATS is a tool/ software that provides a single source of truth for all the information about job applicants. It stores all the relevant information about the candidates in a single place to easily manage hundreds of applications.
TRM, on the contrary, is a tool to communicate and nurture relations with applicants. It also includes all the information about an applicant but stores the data regarding interactions with each person. It shows all the conversations with the potential candidate and helps to automate and build relationships.
Is the investment in talent CRM worth it? Can not ATS alone do the job? How can talent CRM software add value to the hiring process?
Talent CRM does more than help you communicate with job candidates and build better relationships. It is not just about automating the messages to nurture applicants and passive job seekers. Here are 7 benefits that make talent CRM a must-have!
Unlike ATS, talent CRM includes the candidate profiles on which the recruiters have spent time communicating and strengthening a relationship. Hence, talent CRM becomes the source of a healthy talent pipeline.
Recruiters build relationships with many professionals over some time till a vacancy opens. They use talent CRM to communicate and automate this process with email sequences and templates. Hence, recruiters can refer to their talent CRM for a qualified pool of talented people when required.
Often recruiters encounter low job acceptance rates and applicants to interview rates, which could be because of inappropriate job titles, incomplete information, not following up, etc. Recruiters must ensure to communicate and engage the candidates in the company and job role.
Recruiters shall create custom campaigns based on business needs and skill requirements to personalize the approach. Moreover, they should give visibility into the project types and clientele to give a better understanding and get the candidates invested in the business from day 1.
Gone are the days when recruiters post a job vacancy and hired talented people. The requirements and expectations have evolved. The hiring market is very competitive, and recruiters need to shift from a reactive approach to a proactive approach.
Recruiters must get into passive hiring and actively look for skilled people to fill open job roles when required. Talent CRM makes passive hiring easy by keeping track of all the conversations and providing an option of automation.
Talent CRM helps save the resources of the firm in many ways. Firstly, recruiters can easily fill the open role with less time and money. Secondly, since these leads are pre-qualified, there is a reduced turnover ratio. In essence, talent CRM saves resources by making the hiring process faster and more effective.
Recruiters can easily streamline the hiring process with talent CRM by integrating various tools and using them to store all the job candidate information. It may seem like an expense, but, in reality, it is an investment that improves workforce quality.
The hiring market has evolved, and to sustain the competition, recruiters must use automation to manage all the hiring elements effectively. Automation enables recruiters to use message sequences, create and use templates, and store all the data in one place.
Recruiters can use specific message sequences to make messages personalized and relevant. CRM templates help to save time in crafting the perfect message to send to hundreds of candidates.
Talent CRM helps to streamline the process and provides various integration opportunities, often missing in other HR tools. Recruiters can easily integrate the ATS and other tools for scrapping and reaching out to the talent CRM.
Recruiters get a panoramic view of all information regarding the candidates and can perform a variety of tasks right from the talent CRM tool. This includes creating a list of potential candidates, reaching out to them, nurturing relationships, engaging candidates, hiring, and much more.
Candidates and employees feel cared for and nurtured as recruiters remember them. This helps to create a stronger connection and closer relationship with your team and potential candidates. A talent CRM tool helps recruiters streamline the hiring process, build a talent pipeline with quality professionals, and automate admin tasks while being a single source of all the information. This increases the productivity and ROI of each team member potentially. But can we go any further?
Talent CRM, when chosen after due research, will help to achieve higher productivity and string all the departments in one thread. It acts as an enabler in building a lean organization by optimizing the recruitment process and being beneficial to other departments. Let us look at how talent CRM help department other than HR.
Talent CRM helps the sales and customer service teams enhance customer relations. How?
64% of consumers avoid purchases from companies with a poor employee work culture.
Talent CRM helps attract and retain top talent and strengthen internal communications with the employees. Talent CRM helps portray a positive employer brand as recruiters nurture relationships with potential candidates.
The commercial department deals with company finances. Talent CRM helps commercial teams by cutting costs on hiring, predicting hiring costs, and detecting financial leakages.
The IT team can use the reporting feature of talent CRM to drill down the talent data associated with your processes, workflows, and hiring. This data can help to improve core metrics such as time to hire and turnover ratio.
Moreover, they can understand the candidate's requirements to assist in training planning regarding the technical tools and software. Also, they can cut costs on unnecessary hiring tools by integrating and streamlining the hiring process with a suitable talent CRM.
86% of HR professionals believe employer branding adds to the marketing effort. Talent CRM helps nurture relationships with candidates and build a positive employer brand. This helps the marketing team to cut costs as the recruiters do a part of marketing for the business. Also, talent CRM reduces the costs of marketing job postings.
Marketing teams can use talent CRM to create custom marketing messages to promote businesses. They can curate templates for CRM to save marketing costs by a hefty margin.
Talent CRM stores all the data of candidates in terms of each interaction. This helps the admin team by saving their cost and time on maintaining candidate databases. They need not curate lists of active applications or candidates in the hiring process.
The administration department also gets a comprehensive view of all the candidates, employees, and other team members without analyzing a chunk of data. Moreover, since talent CRM streamlines the hiring process, the admin team saves resources in providing technical support to the HR teams.
See how talent CRM impacts all business operations and can be of use to every department out there. It directly influences the organization as it is the primary portal for hiring and building teams. But how can recruiters find a suitable talent CRM?
Choosing the right talent CRM requires due research, mapping out needs, and analyzing the effectiveness of each available option. Here is a list of seven factors to consider while picking the right CRM for your business.
Want a solution that does it all?
Nurturebox is the ultimate talent CRM that does all this and much more for recruiters to make recruiters' tasks easier and more effective. Nurturebox takes over the admin tasks related to the top-of-the-funnel hiring process. It helps recruiters to build relationships with candidates while it performs all the mundane jobs.
Start by downloading the plugin, integrating the ATS system, and finding suitable candidates to reach out to. No more recording candidate profiles, storing conversations, maintaining application databases, dealing with multiple tools, and spending hours personalizing the experience for candidates. Just streamline the process and hire effortlessly!
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