You may be familiar with Customer Relationship Management (CRM) software, which businesses use to manage interactions with both current and potential customers. Now allow us to introduce its close cousin, Candidate Relationship Management (CRM), a category of software that, in its very basic form, helps recruiters track all of the information and tasks associated with candidate interaction.
You may be quick to point out that there are applicant tracking systems, including Oracle HCM recruiting solutions, that manage the application to hire process.
These market leading applicant tracking systems are designed to support basic CRM associated with candidate communication and management. Today's modern recruitment marketing strategies often require a more comprehensive approach to capturing candidate data, segmenting the data intelligently, and managing large scale communications via email.
No matter which applicant tracking system they use, recruiters interested in implementing strategic sourcing and CRM strategies are faced with challenges including the following:
High cost-per-hire. Lack of a growing, proprietary talent pool from which to source, forces organizations to spend more on expensive job boards and recruiting agencies to meet basic hiring demands.
Difficulty sourcing candidates. Despite having access to past applicants and various external candidate databases, search tools can be complex, non-intuitive and make it difficult to easily find relevant available, qualified candidates
Disconnected candidate sources. Most Oracle HCM clients must search internal candidates, past applicants, and 3rd party sources using different tools with no ability to view, evaluate and engage resulting candidates in a holistic manner.
Lack of procedural consistency. Poor standardization, from systems to practices, results in duplicate candidate interaction, wasted energy, and inability to refine results.
The Candidate Relationship Management (CRM) Solution
Strategic CRM solutions allows you to capture candidate data quickly from multiple sources and centralize them in a proprietary talent pool. Once captured, recruiters can enable and track your communications with those candidates. While some applicant tracking systems provide basic CRM functionality, strategic CRM solutions offer two-way integration with the ATS as well as access to external databases all in once place. This approach places high value on building a growing, centralized talent pool from which you can segment, source, nurture and campaign talent, reducing reliance on expensive advertising for meeting hiring demand.
Just a few of the many features and benefits of integrating Oracle HCM with strategic CRM include:
- Ability to search and engage candidates from all sources from a single interface
- Consolidated talent pool of internal and external candidates
- Intuitive, semantic search tools
- 360-degree view of a candidate based on multiple sources
- Analytics reports to track which sources are the most effective
Talemetry’s Sourcing and CRM solution for Oracle HCM is designed to support both established and emerging best practices to help companies move from more basic/functional to more modern and optimized recruiting capabilities., whether it's CRM for Taleo, PeopleSoft or iRecruitment. To learn more, download our Strategic CRM for Oracle HCM Solution Snapshot.