Intelligent CRM - A smart step on the road to Hiring Success
‘Do More with Less’ - this is the consistent ask of TA Leaders. There is an expectation to do it all - deliver better experiences, create efficiency, generate better outcomes for less cost and help the business see around the corner.
Faced with that unenviable challenge, the good news is that there is a formula - (HA x AI) + IU = Hiring Success.
HA (Human Led Engagement + Automates nudges) x AI (AI powered Intelligence + brand led relevance) + IU ( integration & usability) = Hiring Success (hiring team success & outstanding candidate experience).
But where do you start when there are so many things (people, tech, process) on the to do list and so many levers you can pull? Well, on the TA tech front…this where you need to think about having an Intelligent CRM in your kit bag… particularly if you are unable to move off your traditional enterprise recruitment solution (i.e. SAP, Oracle, Workday). After all, according to a survey by the Aberdeen Group, companies that use a recruitment CRM have a 56% better time-to-hire than those that do not.
“But I have a really good ATS”, I hear you say, “why do I need a CRM?” Well the answer is simple. An ATS is largely built around a linear process (application through to hire), whereas a CRM is built around a ‘dynamic’ process (largely centred around attraction & engagement). After all, us humans are dynamic creatures, we change our minds and we are always looking for positive interactions that help us engage on our own terms! The stats don’t lie - according to Talent Board, 70% of candidates who had a positive candidate experience said they would be more likely to apply for another job with the same company.
What's an ‘Intelligent CRM' offering, compared to an ATS with CRM capabilities built into it? Here are a couple of things that make them stand out:
- Dynamic content generation for their career websites (not just static text). It will remember the visitors previous navigation experience & present more relevant content and jobs that will enhance the candidates experience and increase likelihood of conversion to sign up or apply for a job. This will ultimately create a better candidate experience
- AI powered talent search engines for rapid (and transparent) talent matches
- They incorporate millions of external/open sourced data parameters overlaid with enterprise data from the company to train the algorithms and create deep benchmarking for skills
- Broad engagement options that are better aligned to the candidates preferences. Candidates these days aren’t looking at email all of the time, so being able to engage with them on their terms via their preferred platforms is critical - eg. Whatsapp, SMS, WeChat, Chatbot
- End to end Recruitment Management capabilities that can be synced with your core enterprise Recruitment system. This essentially means that you can perform most of your recruitment activities within the CRM and have then bi-directionally synced with your system of record (eg. SAP, Oracle, Workday)
- High levels of automation and system/workflow flexibility (most of which you can edit yourself easily) which will enable the Recruitment team to introduce efficiency and flex into their processes so they can evolve the system as the business needs evolve
There are numerous players in the Intelligent CRM market such as Phenom, Eightfold, Avature, Beamery, Clinch (a PageUp Company), Radancy and GEM. We’ve seen some investment from some of the key ATS providers who have acquired leading CRM brands in the market such as; SmartRecruiters acquiring Attrax, PageUp and Clinch, iCIMS and CandidateID, Jobvite and Talemetry.This advanced technology can streamline the recruitment process, save time and money, and provide a better candidate experience.There are many benefits of an AI-powered recruitment CRM, but here are a some key ones:
- Reduce Time to Hire & Increase Hire Quality: An AI-powered recruitment CRM can automate time-consuming tasks such as resume screening, candidate sourcing, and scheduling interviews. This frees up TA professionals to focus on other critical tasks, such as interviewing candidates and building relationships with potential hires. Research by HR.com found that 52% of HR professionals who use an AI-powered recruitment system said it improved the quality of hires
- Improved Candidate Experience: An AI-powered recruitment CRM can provide a personalised experience for candidates. It can use data analytics to understand the candidate's preferences, skills, and experiences and match them with the right job. This makes the recruitment process less daunting for candidates and helps to improve engagement
- Cost-Effectiveness: An AI-powered recruitment CRM can significantly reduce the cost of recruitment. By automating tasks and eliminating manual errors, it can help to reduce the cost per hire. Additionally, it can help HR professionals to make more informed decisions about which candidates to pursue, reducing the risk of making a costly hiring mistake. A report by Nucleus Research found that companies that invest in recruitment CRM systems see an average ROI of $13.01 for every dollar spent.
4 hot tips for setting up an AI-powered/Intelligent recruitment CRM:
- Define your ‘dynamic’ recruitment process: Before implementing an AI-powered recruitment CRM, it's essential to define your recruitment process. This involves identifying the key moments that matter, stages of recruitment, the key stakeholders involved, and the desired outcomes. This information will help you to configure the CRM system to align with your recruitment process.
- Clarify on your integration points: An AI-powered recruitment CRM is only as powerful as the data you have in it. So think through the data you want to flow through into your CRM so your team can make informed decisions without needing to jump between systems.
- Train your team: An AI-powered recruitment CRM is only effective if your team knows how to use it. It's essential to provide training to your team to ensure they understand the system's functionality, how to interpret the data, and how to use the system to its full potential. Consider having dedicated resources such as recruitment marketers or strategic sourcers accountable for the platform.
- Monitor and refine: An AI-powered recruitment CRM requires ongoing monitoring and refinement. You should regularly review the recruitment process, system performance, and candidate feedback to identify areas for improvement. This will help to ensure that the system remains effective and aligned with your recruitment goals.
So if you're sitting on an enterprise recruitment solution / system of record that you’d love to get rid of but can’t. Or if you're looking to shift the dial on candidate experience, then you need to really consider an intelligent CRM within your Tech Stack.
An AI-powered recruitment CRM is a powerful tool that can help progressive organisations to streamline their recruitment process, save time and money, and provide a better candidate experience. By defining your recruitment process, integrating with other HR systems, training your team, and monitoring and refining the system, you can maximise the benefits of an AI-powered recruitment CRM and stay ahead of the competition in the race for top talent.
If you want to learn more or hear about some of the key use cases for intelligent CRMs we have advised on, with some of Australia’s largest employers, then please don’t hesitate to reach out or direct message me.
