HR & Tech Glossary

Learn meaning and definition of all important terminologies related to HR Tech and related topics. 

What is Candidate Relationship Management (CRM)?

Candidate relationship management, also widely known as CRM, is a process that is all about connecting with candidates who can be potential hires and building strong relationships with them. The software that helps handle this process is known as CRM software.

How Does Candidate Relationship Management Help?

Candidate relationship management software is mostly used by big organizations to find top talent quickly and cost-effectively. It is not restricted to catering large organizations only, any company whose main purpose is to hire the best employees within a short time can go for this tool. It is very flexible and can be easily customized to fit your business requirements.  

What Features Does CRM Software Offer?

An efficient CRM offers the following key features: 

  1. Candidate Profile Creation: With an efficient CRM you can easily create candidate profiles using resume data and track all interactions, including emails and assessments. 
  2. Resume Parsing: CRM quickly goes through multiple resumes and detects the most relevant candidates for the job vacancy.
  3. Automated Workflow: CRM creates automated actions like sending personalized email notifications/alerts to applicants after resume uploads or interview scheduling.
  4. Ratings: It rates candidates based on skill sets or assessments like cultural fit to prioritize them for future roles.
  5. Talent Pool Creation: Create talent pools for different roles and departments within the organization.
  6. Integration with ATS: integrate with your existing Applicant Tracking System (ATS) to use existing data for employee sourcing.
  7. Cross-Device Functionality: CRM software provides a mobile version for handling the recruitment process. This helps ensure that your recruiters can work from anywhere anytime.

These features of candidate relationship management make it much easier for recruiter and HR teams to source the most desired candidate to fill up the vacant job post.

But how does it work? Well-candidate relationship management software performs 5 key functions: 

  1. Discover: Firstly, your HR team needs to insert data regarding the job vacancies and what type of applicant they are looking for into the system. Then, it searches for potential candidates using different methods, like LinkedIn, job postings, and social media. 
  2. Attract: After that in order to attract the top talent CRM uses various efforts, such as recruitment marketing and social media posts. You can even showcase CSR initiatives, or major events at your organization. 
  3. Engage: Once you get hold of the interested candidates you can use the CRM to filter the ones that are eligible and then implement an engagement strategy. You need to understand regular communication with the new hire about company updates is the key to a smooth recruitment process. Providing feedback, even if they weren’t selected, helps candidates improve. Also, CRM can send email templates for every step, from acknowledgment to rejection, ensuring continuous engagement.
  4. Nurture: Keep a note applicants who didn’t make it through interviews are still considered potential hires for the future. Keep them informed about company updates, remember important dates like birthdays, and guide them on what they can do to improve. Creating better relationships can help fill up future job posts.
  5. Hire: Nurtured leads are now ready to be hired when needed. With a nurtured relationship, both you and the candidate know what to expect, making the hiring process smoother. The effort you put into building your employer brand through CRM helps you hire top talent.

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