Imagine you're running a recruitment agency but you have no CRM (Candidate Relationship Management). All your employees are burnt out in manually handling productive relationships with clients and candidates because at the end of the day if they're unable to do so, it's your business and their own job that suffers the consequences. For any successful business to make its own mark, it's mandatory to invest in a good CRM software. That being said, let's dig deep into understanding what is a CRM software?
You've pretty much read all about the ATS vs CRM debate going on in every other blog, but guess what? Most of them don't offer an inherent giveaway. To truly learn how important is CRM for recruitment, you need to know the basics.
CRM in recruitment is highly essential since it's this software that's going to help your sourcing team and hiring managers to maintain and create talent pools and build fruitful relationships with both active and passive candidates. Therefore, if your Applicant Tracking System is simply maintaining your workflow, helping you source candidates and automate your recruitment business, CRM software is the main hub for your candidates and clients. Together, they create a talent intelligence ecosystem.
According to a survey conducted by Software Advice, 74% of companies using the right CRM for their business say that it has increased their customer data access, therefore allowing them to improve lead conversion and increase sales.
Everything You Need To Know About CRM For Recruitment Agencies
Apart from the fact that recruitment CRM software helps in managing the entire lifecycle of candidates and clients, starting from sales and marketing, it also automates certain processes and provides in-depth data and performance analytics.
5 Major Signs That Your Recruitment Agency Needs A CRM Software
- Your recruitment agency is having trouble accessing both candidate and client data amidst heaps of files and documentation
- Your agency/company doesn't have a regulated workflow. As a result, there's no proper coordination between your team members
- You don't have any performance metrics or data to work with
- Your agency is working overtime to fill those hard-to-fill open job roles
- There's a huge candidate pool and you're unable to maintain it
If you're an active recruiter who is sourcing candidates for your clients almost every single day and facing the above difficulties, it's kind of obvious why you might need a Candidate Relationship Management software. The best recruitment CRM in the market will always have a recruiter's back and target your prospects, all the while maintaining a decent relationship.
As per Hubspot's research in 2020, 61% of over-performing leaders use a CRM to automate various parts of their sales funnel, vs. 46% of under-performing leaders.
Here Are 6 Core Features Of A Recruitment CRM
1. Helps In Managing Your Leads
Any CRM for recruitment companies will help recruiters and Business Development executives manage their leads and clients in one single place. You can easily control, move and track your clients through the entire sales funnel. The best way to check this feature out would be to ask a member of your Sales or Business Development team to try this out and check whether it would suit your company or agency needs.
2. Manages All Your Contacts & Interactions
The worst thing a recruiter could possibly face during a busy day is not being able to find a candidate or client conversation. Contact management and maintaining transparent conversations are two key features you should look for in a recruitment CRM software. Find out whether the layouts are organized, the fields are customisable and whether it makes sense to you as a recruiter.
Apart from the above, your CRM should also be able to help you save and track conversations with clients. Try and understand whether you're able to add notes and get the entire conversation history right on your fingertips with just one search. This shall keep everything organised and prevent confusion.
3. Entire Sales Pipeline Management
If your recruitment agency has a really long sales pipeline and you're still not using a CRM, you might be wasting a lot of time manually figuring out everything. The best thing about using a customizable sales pipeline would be to create something that best suits a recruitment agency's needs and closing more deals with clients than usual. This will help an agency make a forecast of their revenue in advance, have an overview of the status of each candidate or client in the pipeline and more importantly if you have a bird's eye view of the sales pipeline, it will prevent you from sinking through the fissures.
4. Useful Integrations
CRM in recruitment should allow useful integrations that help in managing one's meetings, schedule interviews and so on with their clients and candidates. This helps in easy management and you can even get reminders of any important upcoming meetings, events or webinars right into the system. Such integrations with 3rd party apps help in functionality and enhance your day-to-day recruiting activities as a whole.
5. Document Management Made Easy
The ability to manage all your documents related to your candidates and clients in one place is something extraordinary that you can find in CRMs. It's much more convenient for recruiters and hiring managers if they're able to collect, store, upload all information and important files in one centralised location that is available for use by everyone in the team as and when required.
6. Invoice Tracking
The best CRMs in the market lets users both generate and track invoices for clients. Any form of manual invoice management that could potentially slow your recruitment agency down is easily fixable. With recruiting CRM software you can keep a track of unpaid invoices, generate invoices for your clients and much more. At the end of the day, as your recruitment business will grow with time, invoice management is something that will become crucial to take care of.
Major Giveaway For Recruiters On Buying Recruitment CRMs
- Always lookout for a CRM that's in-built with your ATS or at least that can be integrated. This shall help in getting real-time data and will help you make better-informed decisions
- A CRM that has in-built social media features will prevent recruiters from switching platforms time and again
- Lastly, invest in one that has a clean-interface and an easy-to-use dashboard
Recruitment CRM software: Sign up for a free trial here (no credit card required).