Why Data is Key to Effective Candidate Relationship Management
This blog shows how analyzing ATS and CRM data can reveal insights to optimize recruitment processes and candidate nurturing over time.
Candidate Relationship Management or CRM, has become an increasingly important part of the recruitment process.
Now more than ever, companies need to think beyond just filling open roles. They need to cultivate long-term relationships with qualified candidates who may be a good fit now or in the future. An effective CRM program allows recruiters and hiring managers to nurture prospects over time and remain top of mind for when new opportunities arise.
However, maintaining meaningful connections with candidates at scale requires more than just good intentions. It requires analyzing data from your applicant tracking system (ATS) and CRM to gain valuable insights that can optimize your outreach efforts. According to a recent survey, 87% of talent acquisition leaders say data and analytics are critical to recruiter success, but only 34% believe their teams are using data effectively. Only by understanding what is truly effective can you know how to best allocate limited recruitment resources.
Leveraging Recruiting Data
An ATS stores a wealth of information about each candidate’s journey — from how they initially heard about TalentLyft to their application details and any subsequent interactions. Similarly, a CRM likely tracks all communications, events, and other touchpoints recruiters have had with prospects. By combining these datasets, important patterns can emerge.
For example, you may discover that candidates who advanced furthest in the hiring process for one role were much more likely to apply for similar openings later. This could indicate the types of roles that resonate most with certain profiles. You may also find that certain forms of outreach like emails are less effective than phone calls or in-person events at re-engaging passive candidates.
According to a recent survey, 87% of talent acquisition leaders say data and analytics are critical to recruiter success, but only 34% believe their teams are using data effectively.
According to research by TalentLyft, candidates who interacted with a recruiter through different channels were 47% more likely to accept a job offer compared to those who only had email contact. And a study by LinkedIn found that passive candidates contacted through InMail were nearly 4x more likely to respond compared to traditional cold outreach emails.
Such insights allow recruiters to focus their efforts in a targeted way. They will know to prioritize past finalists, reminders of new roles to apply to, and higher engagement touchpoints proven to drive real interest. Simply blasting mass communications without understanding what really moves the needle risks wasted time and poor candidate experiences.
Nurturing Over the Long-Term
A CRM initiative should not be a short-term play either. The goal is building long-lasting affinity, so analyzing metrics over extended periods can be most informative. For example, a six-month study of 400 candidates may reveal:
- Consistent personalized emails led to a 20% increase in applications over the time period versus non-contacted candidates.
- Those who attended multiple company events were 2x more likely to accept an offer compared to one-time attendees.
- Candidates referred internally had a 40% chance of interviewing within a year versus 15% for those from job boards.
According to data from SmashFly, candidates who were nurtured over time were 38% more likely to convert to hires compared to one-off applicants. And a study by iCIMS found that candidates who experienced personalized, regular communication were 43% more likely to accept a job offer if extended.
According to research by TalentLyft, candidates who interacted with a recruiter through different channels were 47% more likely to accept a job offer compared to those who only had email contact.
Such longevity insights better equip recruiters to focus on actions proven to pay dividends for both candidates and the hiring organization over the long run. They can channel effort into building true relationships versus quick wins that don’t foster real affinity.
Continuous Improvement is Key
The recruitment landscape and candidate preferences are constantly evolving. That means an effective CRM program requires constant evaluation and improvement as well. Teams should revisit ATS and CRM data quarterly or biannually to check if certain best practices need adjusting based on changing conditions. Optimization should always be the goal so recruitment strategies remain timely and effective in nurturing the strongest long-term relationships.
According to Aberdeen Group, 72% of best-in-class recruiters regularly review CRM data and campaign metrics to refine outreach. And a study by HR.com found that talent teams who continuously optimized CRM efforts saw a 31% increase in qualified applicants over a 12 month period.
Through diligent data analysis, recruiters can gain invaluable cues on optimizing their CRM programs to foster deeper, longer-lasting candidate bonds driven by highly-targeted outreach. This focus on continual learning and refinement helps recruitment evolve in step with the candidates themselves to deliver stronger business outcomes over the long run.
And a study by LinkedIn found that passive candidates contacted through InMail were nearly 4x more likely to respond compared to traditional cold outreach emails.
