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What is Candidate Relationship Management? 

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What is Candidate Relationship Management

Imagine you’re a recruiter trying to find the right candidate. Isn’t juggling multiple applicants and keeping track of their progress chaotic?😵 Candidate relationship management provides a streamlined process 📝 for identifying the right people and organizing the recruitment process.

Expect to find quality employees for your open positions when you maintain good relationships with applicants. A candidate relationship management tool can help you build such relationships. 

In this blog, you will understand candidate relationship management, its processes, its importance in business, the major strategies for successful CRM, and its best practices.

🔑 KEY HIGHLIGHTS

  • Candidate relationship management is a strategic approach that utilizes tools and practices to manage and improve relationships with potential candidates.
  • There are five phases of candidate relationship management: finding, attracting, engaging, hiring, and nurturing candidates.
  • Quality hiring is an important aspect of candidate relationship management. It identifies and attracts high-quality talent who is the right fit for the organization.
  • Two-way communication is one strategy for successful candidate relationship management. It creates a transparent and beneficial interaction between the hiring team and candidates.
  • Some of the best practices for candidate relationship management in business are to acknowledge every individual, set realistic expectations for you and the candidate, personalize the experience, and always keep the door open.

What Is Candidate Relationship Management?

Candidate relationship management is identifying the right people, engaging candidates for open roles, and maintaining constant communication with them throughout your organization’s entire recruitment procedure.

Candidate Relationship Management CRM

Candidate relationship management technology improves relationships with current and future job candidates while keeping them well organized. It is applied to better candidates’ journeys when they find new opportunities, automate communication processes, and improve talent sourcing.

📚Also Read: What Is Talent Management? Definition, Process, & Strategy

What Are The Candidate Relationship Management Processes?

The candidate relationship management process is made up of five key functions. They are:

1. Discover

At this stage, you would typically use multiple channels to locate talented people, including LinkedIn, social media, or job ads that reach your mailbox. In other words, all this data can be found in your CRM (Candidate Relationship Management) system. You will do social media recruitment, employer branding, and recruitment marketing.

When you put up job openings, it is essential that your system can look back at old prospects who didn’t make it through; in addition, it should notify them about the new opening. Moreover, it should furnish passive prospects you have tagged for future deliberation.

2. Attract

Companies use several strategies to bring in talent, such as social media posts promoting hackathons and recruitment marketing. At this point, you can also highlight your company’s participation in CSR initiatives, any new employees, or other important events that can help promote your employer brand.

Successful recruitment strategies help the firm build a good image and develop its employer brand by offering a consistent stream of qualified candidates. CRM may improve the quality of the job applications received and enlarge the choice of employees to be recruited. This implies that overall recruiting decisions will be more efficient due to the higher chances of appealing to job seekers.

3. Engage

After screening potential job candidates, an engagement plan is put into action. It may be initiated through regular contacts or updates about the company’s operations, often while easing recruitment. This involves letting them know how far they have gone in being considered for the job. If not, give them a reasonable explanation, as this will always help them improve on what they did wrong that made them lose that chance.

Your candidate relationship management system should include pre-made email templates that address potential customers throughout the cycle, such as those congratulating them on advancing and others informing them of their inability to go further after application. Ongoing interaction with job seekers in a separate tab is crucial in customer relationship management.

4. Hire 

Even if the candidate fails an interview, he should still be considered for positions that will be unveiled in the future. He can be encouraged to get the job by suggesting actions. This can be through constant updates about what’s happening in the company or sending recruitment emails to keep them engaged. Once concretized, these could then grow into potential working relations between the two parties in the future.

Choosing suitable candidates from a source of prescreened and motivated individuals ensures that organizations bring in fresh recruits that match their profiles to minimize the chances of faulty and expensive hiring. 

5. Nurture

Your nurtured leads are now ready for hiring at any point in time. For any well-developed relationship, both parties know what they are getting into and why the applicant wants to be employed by your company. The basis of your employer brand will be founded on the work you put into nurturing these connections via CRM. A well-vetted pipeline facilitated by the candidate relationship management process may help identify the most qualified candidates for your job openings.

These nurtured relationships can potentially reduce the time and effort required to fill vacant jobs. They can also create a positive image that enhances your recruitment brand while saving time and effort associated with filling positions as they fall vacant.

👀Take a look at: What Is Recruiting Outreach? Definition, Meaning & Process 

Importance Of Candidate Relationship Management In Business

The process by which an organization manages its communication with job seekers is believed to affect the future job performance of certain applicants. A worker’s understanding of whether or not they connect with their organization is the degree to which they engage with the organization.

Some of the importance of candidate relationship management in business are: 

Quality hiring

Candidate relationship management helps companies maintain a robust pipeline by keeping in touch with passive job seekers and building relationships with potential future employees. This will lower the need for random, expensive recruitment methods by ensuring that there are always suitable applicants who can step into critical job openings. To improve their hiring success rates, firms may adopt customer relationship management principles to attract candidates who love their culture.

By tracking candidates’ skills, experience, and interests via a robust CRM system, recruiters can better match candidates to job requirements. This leads to more informed recruitment decisions and increased chances of staff retention for more extended periods.

Improved Talented Pipeline

Candidate relationship management allows recruiters to set up talent pools earlier by keeping in touch with job seekers who are not yet engaged or by making contact between HR and people who may later be employed. Regular follow-ups allow companies to keep the best candidates at arm’s length and take a shorter time to bring them on board when a position opens up.

Businesses can get a head start by keeping in touch with potential candidates at all times, enabling them to create preassembled job seekers when needed. This way, enterprises can hire faster than other companies because they anticipate hiring needs before they arise, thus always having many potential candidates.

Employee Experience

Candidate relationship management enables companies to provide prospective job applicants with personalized and engaging experiences from beginning to end in recruitment proceedings. An operative CRM (Candidate Relationship Management) establishes a well-regulated interaction with job seekers, giving them confidence that they are valued.

Keeping a database that centralizes prospective candidate information and interactions allows recruiters to tailor their messages and job suggestions based on the tastes and goals of individual job seekers. This personalization technique enhances the candidate experience and improves overall perception by attracting talent to the organization.

Positive Impressions

Candidate relationship management helps an applicant leave the organization with a good impression even if he/she is unsuccessful in the recruitment process. By giving feedback regularly, keeping in touch with potential candidates, and onboarding selected ones, companies could build solid employer brands that make people apply later or recommend them to others.

Thanks to a well-managed CRM system, the recruitment process involves regular updates, feedback, and open communication. This makes people who aren’t chosen think well of the company and even become brand ambassadors.

Candidate Engagement

candidate relationship management systems enable recruiters to engage with candidates through email, social media, SMS, and events. By automating repetitive tasks and workflows, recruiters can focus on building relationships with potential, conducting interviews, and making informed recruitment choices. 

CRM systems simplify the process of maintaining both regular and substantive engagements with prospective job candidates. Such engagements might range from sending valuable content to granting insights into organizational activities. This talent acquisition enhancement allows the enterprise to reduce costs, quicken hiring processes, and simplify administrative procedures.

4 Strategies For Successful Candidate Relationship Management

The four significant strategies for successful candidate relationship management are:

1. Two-way communication

The recruiting process should be transparent and understandable to candidates. When queries are answered on time, it shows respect and maintains individuals’ attention. An organization’s human resource department must keep in touch with unsuccessful candidates, informing them about future prospects and developments to create a long-term talent pool.

2. Leveraging Technology for efficiency

Integrate a strong candidate relationship management (CRM) system for efficient communication, process automation, and large-scale personalization of interactions. 

Use LinkedIn and other social networking websites for employer brand presentation, prospective employee interaction, and talent network creation. Set up an application tracking system (ATS) to track interactions, effectively manage candidate data, and gain insightful knowledge about the hiring sequence.

3. Building Long-Term Relationships

To establish a robust talent pool, we must cultivate passive candidates and introduce employee referral programs. We should reward referral programs and frequently maintain contact with inactive candidates.

This ensures that there is always a pool of well-suited individuals ready for future opportunities. Keeping in touch with deserving candidates who may not get jobs today but are suitable for future opportunities can benefit businesses.

4. Continue measurement and improvement

To assess the effectiveness of your candidate relationship management strategies, track key metrics such as candidate satisfaction, time-to-fill, and quality of hire. Always revise your processes based on information received through feedback and data to ensure continuous improvement and a positive candidate experience.

By following up on their CRM efforts, you can attract superior employees and keep them longer.

🧐You might find this interesting: Top 20 Staffing & Recruiting CRM

What Are The Best Practices For Candidate Relationship Management?

Some of the best practices for candidate relationship management are:

1. Acknowledge Every Individual

Regardless of their selection status, all candidates must receive acknowledgment for their interest and effort. You can send a thank-you email or a personalized message to do this. This shows respect and leaves a good impression, crucial for maintaining a strong employer brand.

You must reply promptly to all candidate questions and applications. Even if they do not get the job, keep giving them constant updates on the state of their applications. Feedback and a courteous refusal must be offered to each interviewee who has made it through to the next round.

2. Keep Real Expectations For You And The Candidate

It is important to set and maintain realistic expectations during the hiring process. Provide explicit guidance concerning the process, deadlines, and any problems that may arise. When candidates have precise details of what they should anticipate, it becomes simpler to build trust and decrease annoyance, resulting in a quicker and more successful process for all parties concerned.

Provide candidates with an unambiguous view of the criteria, timetable, and hiring procedures. Giving an honest appraisal of how likely they would be considered for other vacancy opportunities can help to leave a good impression on the candidate.

3. Personalize The Experience

Ensure you tailor your interactions with each prospect to help them feel valued and important. Utilize their names, refer to their specific knowledge and expertise, and personalize your message to emphasize their unique qualities. Customize your interactions, viewing the candidates as human beings rather than just employees.

Speak to all candidates in a manner that resonates well with their areas of interest and instances. Show them the most relevant sections of the role and corporate environment. To reflect that their submission has been carefully considered, please mention them by their names and their specific capabilities.

4. Always Keep The Door Open

Even if this candidate is not chosen at the moment, maintain contact with him/her. Keep them intrigued with business and industry news and inform them of possible forthcoming opportunities. Once you have uploaded all your applicants into a CRM system’s talent pool, a large part of this interaction can be handled by it. 

Invite applicants to join your talent community to keep them apprised of ongoing opportunities. Make suggestions regarding how they can strengthen their learning and skills. A company’s future employee, client, or brand advocate could be people who failed your test.

Wrapping Up

Successful candidate relationship management (CRM) is necessary to attract and maintain the best employees. Organizations using the proper practices and candidate relationship management strategies can create excellent candidate acquisition systems and powerful connections to potential employees, thereby achieving better recruitment outcomes. Embrace CRM to improve the hiring process for recruiters and candidates.

The right candidate relationship management system could make your recruiting and retention practices completely different. It is not just a nice tool but a real transformation that could make your business extremely agile as it seeks talents everywhere globally, knowing where to tap in at any given point.

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Dinesh Silwal

Dinesh Silwal is the Co-Founder and Co-CEO of KrispCall. For the past few years, he has been advancing and innovating in the cloud telephony industry, using AI to enhance and improve telephony solutions, and driving KrispCall to the forefront of the field.

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