Benchmarking Your Organization’s Candidate Relationship Management (CRM) Maturity
This blog provides a framework that companies can use to assess the effectiveness of their CRM strategy and processes compared to industry leaders.
Introduction
Candidate Relationship Management(CRM) has become essential for organizations to attract and source top talent in today’s competitive hiring landscape. According to a recent survey by Software Advice, 61% of talent acquisition leaders say CRM is critical to their strategy. While many companies have implemented applicant tracking systems (ATS) and CRM tools, not all are using them effectively to strategically manage candidate experiences and relationships over time. This blog will provide a framework to benchmark your organization’s CRM maturity against industry leaders so you can identify areas for improvement.
What is CRM Maturity?
CRM maturity refers to the level of optimization and integration a company has achieved between their talent acquisition strategies, processes, tools, and technologies. More mature organizations have CRM deeply engrained in their culture and use data effectively to personalize the candidate experience. They also maintain ongoing relationships with candidates, whether they are actively hiring or not.
According to research by Talent Board, candidates who have a positive experience are more than twice as likely to reapply to that same company in the future. However, one study found that 61% of candidates feel their application is like going into a “black hole” never to be seen again. This demonstrates how immature CRM practices can undermine talent pipelines.
Immature CRM, on the other hand, is more transactional. Interactions with candidates are one-dimensional and rarely extend beyond the initial application. Data about candidates is underutilized. Prospective talent may feel like nameless profiles in an ATS rather than individuals. This leads to negative perceptions of the employer brand and lost opportunities to build a rich applicant pool for the future.
According to a recent survey by Software Advice, 61% of talent acquisition leaders say CRM is critical to their strategy.
Benchmarking Framework
To benchmark your CRM maturity, it helps to evaluate across five key dimensions:
1. Strategy and Alignment
Mature organizations have recruiting, sourcing and CRM goals tightly aligned with broader business objectives. For example, 79% align their TA strategy with corporate diversity and inclusion goals according to recent HR research. Teams collaborate seamlessly. Immature companies lack strategic direction for talent acquisition and CRM.
2. Data and Insights
Leaders capture robust candidate profiles and derive actionable insights from application and interaction data. A study by Aberdeen Group found that top performers are twice as likely to leverage CRM analytics. They understand which sources and programs drive the strongest talent pipelines. For others, data remains siloed or under-leveraged.
3. Personalization at Scale
Top performers greet candidates by name and tailor communication based on profiles, history and inferred needs/interests. Weaker companies rely on generic, one-size-fits-all approaches that undermine personal touchpoints at large volume. Research shows candidates who feel more personalized care are 4x more likely to trust a brand.
However, one study found that 61% of candidates feel their application is like going into a “black hole” never to be seen again.
4. Ongoing Engagement
Mature CRM keeps past candidates and prospects engaged whether they are actively hiring or not. According to LinkedIn data, engaged candidates are 3x more likely to respond to outreach. Immature models only interact during active job searches or applications.
5. Continuous Improvement
Industry leaders regularly refine CRM using data and feedback to enhance the candidate experience. Others rest on past successes without ongoing optimization. Studies indicate companies can reduce attrition by 50% using candidate experience insights.
Measuring Your Maturity
Now that you understand the key dimensions, take time to thoughtfully assess where your organization excels and where opportunities exist. Use the following 5-point scale:
- 1. Ad Hoc/Immature
- 2. Developing
- 3. Moderately Mature
- 4. Highly Mature
- 5. Best in Class
Plotting your current ratings can reveal priorities for elevating your CRM program. With committed effort in target areas over time, you too can mature your CRM to capture top talent.
Benchmarking Framework To benchmark your CRM maturity, it helps to evaluate across five key dimensions: 1.
