“A big number of companies will be unable to achieve their initiatives because they will not be able to attract the type of talent they’re looking for1”.
Finance and insurance roles are tough to fill these days. With historically low unemployment rates in the 2% range, retiring seasoned experts, and the need to attract millennials, the job of recruiting financial and insurance professionals is getting more difficult by the day.
“There will be 400,000 jobs to fill in the next few years and half the industry will be gone in the next 15 years.1”
ATS is for Tracking Applicants
The ATS's job is to track applicants, but before you can track them, you need to source, market to, and recruit those candidates. Many leading companies are realizing that they need to invest in recruitment marketing strategies and platforms in order to find the best candidates like financial advisors, actuaries, and technologists. In fact, Aptitude Research released a report revealing that 70% of the organizations they surveyed plan to invest in a recruitment marketing platform.
Recruitment Marketing Platforms vs. Marketing Automation Platforms
You may be wondering why you need a separate recruitment marketing platform. If we compare recruitment marketing automation platforms with broad marketing automation platforms, organizations should probably be looking outside core ATS vendors for solutions.
Over the last decade and a half, sales and service organizations automated their processes using customer relationship management platforms like Salesforce.com, NetSuite, and other systems. Much like recruiting organizations have standardized applicant tracking systems.
And marketing organizations used a variety of tools to attract, capture, and engage potential customers. In fact, they used so many tools that it became very difficult to manage and impossible to get a clear view of what was working and what wasn't (is this sounding familiar?).
Eventually vendors like HubSpot, Eloqua, Marketo, and others filled the gap, providing effective tools for acquiring, engaging, and converting leads, analyzing results, and optimizing marketing programs and overall operations. Many of these platforms integrated with CRM systems, making them more valuable.
Marketing automation and sales automation systems became deeply integrated through strategic partnerships, allowing sales and marketing teams to have access to the same data, yet take advantage of best of breed platforms for acquiring leads and converting them to customers.
Integrating Best of Breed Platforms
Recruitment marketing is very similar. And that is why Talemetry has strong relationships and integrations with some great applicant tracking systems such as iCIMS® and a long-standing partnership with Oracle®, with Talemetry's recruitment marketing platform deeply integrated with Oracle's entire line of applicant tracking systems. These are just some of our partners that provide leading applicant tracking systems for their markets.
Better to take advantage of the game-changing capabilities of established recruitment marketing platforms and ATS integrations to meet your candidate acquisition needs.
Unified CRM strategy
You are likely already doing some recruitment marketing functions today. But you may be like many organizations that are doing recruitment marketing in disparate systems and processes, and reducing the results of your investment and efforts. A single CRM platform will integrate your efforts, give you visibility, and increase the effectiveness of your strategies. There are 3 major considerations:
- All of your recruitment marketing elements must work together. Attraction programs must support your outbound sourcing and engagement efforts by helping to grow a centralized, proprietary pool of candidates to connect with and source from. Your candidate experience draws from your branding efforts and makes attraction and sourcing efforts more effective by creating a compelling and friction free experience that converts the highest percentage of candidates to applicants and applicants to employees.
- You need to know what’s working and what’s not. What programs and recruiter activities are driving the most job views, applicants, and hires? Do more of what works, less of what doesn’t, and improve on what’s working.
- You need a common platform. One that is integrated both horizontally across the various recruitment marketing functions and vertically with your ATS.
Four Building Blocks of a Recruitment Marketing Platform
The four building blocks of a platform that will give you a comprehensive recruitment marketing strategy will include:
- Employer Branding. Branding is the identification and stewardship of the combined perception of everyone who interacts with your organization. Bottom line: you don’t create or even own your brand. You can understand it and influence it and amplify it through programs and channels, but only if that amplification resonates as truth to the employee or candidate.
- Inbound Attraction. Attracting candidates to your jobs by getting them in front of candidates via job boards, social media, recruiting agencies, digital ads, and more.
- Outbound Sourcing and Engagement. Actively searching for potential candidates, communicating with them over time, and inviting them to apply for your jobs. This is typically supported by a candidate relationship management system or various candidate databases, both internal and external to the recruiting organization.
- Candidate Experience. The quality of the candidate experience from the time they first see one of your jobs all the way through to signed offer letter.
Separate your organization from the rest of the industry, consider what components of your recruitment marketing strategy are in place, and what’s missing. Pulling it all together into a unified strategy, like one global financial institution, and platform may help your recruiters to find those tough to fill financial and insurance positions.