A company is only as good as the people that work for it. Without outstanding people who execute the functions, all the attractive brand logos, slogans, and business ideas won’t get very far. This is especially true when it comes to talent acquisition, where it is critical for organisations to separate the wheat from the chaff.
Finding the right fit for culture and skill is hard work. Your company’s brand must stand out to attract passive prospects, your job offers must be competitive, and your recruiting methods must be quick and engaging. Using feature-rich recruiting software is one of the most effective methods to accomplish this.
The global recruiting market is presently worth over $215 billion, and it is expected to expand at a rate of 5.6 per cent over the next few years to over $330 billion by 2025. Thankfully, there are plenty of talent acquisition suites and recruiting technology solutions available today to businesses of all sizes, including enterprises, small businesses, and startups.
Two such tools are ATS and CRM.
A CRM is a great recruitment management tool when used alone, but when combined with an ATS, it is even more effective. Integrating the two is also crucial to optimising the complete candidate journey rather than just focusing on one hiring process component. Organisations that identify new ways to engage candidates will always be able to close positions faster and increase their offer acceptance rate.
Let’s find out what these two tools are and the distinct advantages they offer.
What is an Applicant Tracking System (ATS)?
An applicant tracking system (ATS) is a form of recruiting software that makes the hiring process easier and more efficient. It serves as a central location for recruiters and hiring managers to post job openings, collect and organise applications, and screen, analyse, select, and move prospects through the entire hiring process.
What Are the Benefits of ATS?
The benefits of ATS include the following:
1. Reduced effort
An Applicant Tracking System (ATS) streamlines the process of creating and maintaining applicant records. As a result, you won’t have to fill out complex spreadsheets or prepare reports manually. By obtaining important data from candidate resumes, the ATS automatically creates, maintains, and refreshes the data repository of past/current candidates.
It also enables you to communicate with multiple candidates simultaneously, for example, by sending email reminders about scheduled interviews.
2. Faster time to fill
An applicant tracking system (ATS) helps you save time on the administrative side of recruiting. It does a preliminary resume screening to eliminate non-matches and restrict the candidate pool. This reduces the time it takes to shortlist a candidate, schedule interviews, follow up, and disburse an offer, resulting in a shorter time to fill. The result: higher productivity and reduced cost per hire.
3. Stringent compliance
The application tracking system (ATS) will establish a database of applicant information that you can review at any time. This ensures that you comply with the most recent recruitment laws and that you are not biassed in your decision to accept or reject an applicant.
The value of an ATS cannot be overstated. It does, however, fall short in some areas. For example, it may send you some false positives due to ineffective keyword matching and cause false negatives.
Also, the ATS isn’t designed to be used in a two-way conversation. The application does not allow you to communicate with candidates or cooperate with internal stakeholders.
Finally, an applicant tracking system (ATS) cannot provide you with analytics on the candidate experience. Are your candidates, for example, engaged throughout the recruitment process? Which recruitment marketing channel is bringing in the highest-quality hires?
What is Candidate Relationship Management (CRM)?
A CRM system is intended to strengthen relationships between possible applicants and recruiters so that recruiters can employ these individuals for future job openings. CRMs are thus regarded as an element of the Recruitment Marketing strategy, as they enable TA professionals to construct talent communities and send tailored messaging that aids in the development and nurturing of relationships with passive talent. Recruiters will have a pool of approved individuals to choose from when it comes time to fill a position.
What Are the Benefits of a CRM platform?
The recruiting CRM is a pre-application recruitment marketing tool that sits just above the applicant tracking system in the software stacks used by most organisations to engage and nurture prospective talent.
The following are some of the advantages of using a CRM platform:
1. Manage long-term relationships with candidates
Recruiters use CRM software to create relationships with candidates throughout the recruitment process, just as marketers use it to manage their customer relationships throughout the buyer experience.
CRM enables candidates to be kept informed and interested through SMS job alerts and emails. Recruiters can also maintain a good experience with top talent at any moment, thanks to customisable nurturing processes and automation. Some businesses even use chatbots to assist candidates in obtaining information or answering queries about application processes, wage expectations, or job requirements.
2. Simplify collaboration
Hiring managers across an organisation can use the CRM platform to approve or provide feedback on a specific candidate. This eliminates the need for a lengthy email trail, exchanging paper documents, or running from department to department to complete a hire.
3. Engagement insights
This is one of the most significant advantages of a CRM. It monitors applicant engagement levels regularly and recommends areas for improvement. It’s possible, for example, that the time between the first interview and the second round is longer than most candidates would expect.
This information, gleaned from a CRM, can be used to strengthen a company’s employer brand and drive future hiring initiatives. It ensures that a recruiter is constantly ready to answer questions and treats each candidate as though they were a customer.
Why ATS and CRM Need to Work Together and Not Used in Isolation
Companies need to be mindful of their applicants’ experience now more than ever. In today’s rapidly evolving recruitment market, technology solutions that prioritise speed and engagement will be important for talent acquisition executives’ success. Because 70 to 80 percent of recruiting occurs during the pre-applicant stage, getting the right message to the right individuals at the right time can provide businesses with an advantage.
This is only possible when hiring teams use a robust and comprehensive Talent Acquisition (TA) suite that integrates CRM and ATS into a single platform. Recruiters that use CRM tools to manage their talent pools can make better, data-driven hiring decisions. It also helps them foster strong relationships with past, current, and prospective applicants, so when it comes time to hire, speed and efficiency are built-in, giving them a sizable talent pipeline to choose from.
All recruiters can make outstanding hires that promote business growth if they have the correct tools for the task. Recruiters who keep on top of the expectations of today’s candidates will be in a prime position to hire them when they are ready to make their next career move. Technology solutions geared to fulfil these expectations will grow in response.