What is TRM Software and Why Recruiters Need It
With continued pressure to hire quickly, recruiters must escalate candidates through the hiring process faster than ever, and integrate more ways to source and interact with talent. With multiple conversations happening across different mediums, how do you track communication and maintain valuable relationships with your talent community? TRM (talent relationship management) software can help talent acquisition teams better interact with talent communities by storing all candidate data in one location, measuring the candidate experience with your company, assessing qualifications, logging all ongoing candidate communication, monitoring a candidate’s career status and keeping passive candidates engaged until an opportunity arises. Learn more about the benefits of a TRM system, and how this investment will help your talent acquisition team streamline recruiting processes.
What Are the Key Benefits of TRM Software?
TRM software provides insight into every aspect of the candidate journey. A TRM system helps talent acquisition teams cultivate, track and engage talent to quickly fill open positions. By tracking candidate engagement at each touchpoint, all stakeholders have a clear picture of the candidate pipeline, history and actions. The top benefits of TRM software include:
- Reducing the time-to-hire by building and cultivating relationships with multiple candidate pipelines.
- Gaining insight into the candidate journey, at every step of the process, to plan for future hiring needs.
- Increasing productivity on a platform that simplifies collaboration and helps recruiters become productive, faster.
Why Do Talent Acquisition Teams Need TRM Software?
Recruiting teams need a TRM system to easily identify top talent, by tracking candidates’ information, qualifications and experience in one place. A TRM system also helps teams communicate more efficiently with candidates by automating email and text campaigns, engaging with passive candidates and tracking candidate relationships until they become available for a new opportunity. Find out more reasons why every talent acquisition team needs to implement TRM software.
To work more efficiently. Talent acquisition is a game of speed and recruiting teams can’t afford to be bogged down by multiple, clunky systems. TRM software combines the functionality of multiple systems to enable your team to visit a single place to view the complete lifecycle of each prospect, from hello to hire. Instead of wasting hours combing through resumes, a TRM allows recruiters to search through millions of resumes and candidates, create customized talent communities and configure folders, tags and fields.
To reduce candidate loss. Asking candidates to fill out long forms and provide all their information up front during the “getting to know you” phase can deter them from choosing to advance in your company’s hiring process. Much of the information that lengthy forms require can be collected through TRM software, which can automatically parse a resume and pull the key information needed to make a decision about advancing with candidates.
To simplify the candidate experience. A successful candidate journey is one where you are engaging candidates through multiple channels; however, it doesn’t need to be complicated. Leverage a TRM to ensure prospects, applicants and candidates are in a branded talent community, and create, manage and track all email and text campaigns. A TRM will manage candidate workflows in a central location to create candidate-specific profiles and capture notes from every conversation in one location. This will ensure candidate data is available to all stakeholders to increase visibility and collaboration throughout the candidate journey.
To create better relationships with candidates. Implementing a TRM system helps talent acquisition teams better manage candidate relationships and provides an overview of all candidate communication, from prospect to hire. A TRM also allows every team member to search millions of candidates’ data immediately, and view a particular candidate’s profile and history with your company. This in-depth access to candidate data can help your team better connect with prospects by inviting them to join your company’s talent network and automating talent community communication so candidates receive relevant information like open jobs, white papers related to industry trends and newsletters focused on company achievements. In addition to communicating with the talent community as a whole, a TRM system allows recruiters to reach out to high-potential candidates individually to discuss their short-term career goals. Understanding when to follow up with particular candidates will ensure your team is targeting the candidates who will likely be the best fit for your company, saving both recruiters and candidates unnecessary interview time.
To eliminate mismanaged candidate information. Employee turnover and mismanaged information should not be either of the reasons your company loses top talent. A TRM provides every team member with access to all candidate data — resumes, video interviews, hiring team feedback. Any recruiting team member, at any point in time, should be able to access all candidate information. If one recruiter is out during part of a candidate’s interview process, every team member should be able to jump into the process easily to provide support and keep the interview process moving forward. While delays are often inevitable, inaccessibility of candidate information should not be the cause.
To consolidate recruitment systems. Ditch the spreadsheets, notebooks and multiple systems that you may use to store candidate information. Consolidate this data into a TRM system to manage the candidate experience at every touchpoint and provide stakeholders with a clear picture of the candidate pipeline. Use TRM software to build talent communities, track campaigns and initiatives and source candidates in one easy platform. Once a TRM system is implemented, your company will benefit from more streamlined recruiting processes including integrating with an applicant tracking system to access all candidate data in one central location, creating more accurate and comprehensive reports and making fewer data errors.
Simplify Managing and Measuring a Talent Pipeline
Recruiter: To streamline candidate engagement
Candidate communication is one of the most time-consuming aspects of recruiting. Leveraging TRM software provides a single database to store and search all candidate contact information. A TRM system helps recruiters keep candidates warm through automated email campaigns and can track all touch points — from the first email to final offer letter.
As a Recruiter, you can benefit from TRM software by:
- Increasing candidate communication without extra work. Increasing communication with candidates doesn’t mean an additional time investment. Do the prep work up front, and automate candidate email and text campaigns to ensure every candidate who enters your talent community is receiving relevant content: job updates, company updates, industry news, your company’s latest blog posts, and media coverage. Once you’ve automated the text and email campaigns, maximize the content reach. Organize your talent community into relevant groups, such as technology-focused careers and business-focused careers, so members only receive content relevant to them. Facilitate two-way communication with candidates to help attract top talent efficiently and at scale. One-way communication will slow down recruiting processes, and could cost your company top talent, resulting in additional sourcing time.
Director of Diversity and Inclusion: Measure the effectiveness of diversity and inclusion initiatives
Talent acquisition is critical to a company reaching its diversity goals. To prove the effectiveness of these goals, a Director of Diversity and Inclusion needs insights into the entire candidate pipeline. TRM software provides detailed information and key insights about the current candidate pipeline, which highlights how impactful ongoing diversity and inclusion recruiting initiatives are.
As a Director of Diversity and Inclusion you can benefit from TRM software by:
- Understanding the campus and diversity events that result in the highest ROI. Use a TRM to leverage data-driven performance metrics to measure campus and diversity conferences that result in the highest ROI. TRM software can track the number of hires per diversity event so you can access solid evidence to justify costs. This will let you best allocate your time and budget to the events that offer the biggest return. A TRM also provides a view into the candidate pipeline, to ensure you’re staying on track to reach previously set diversity hiring goals.
Director of Talent Acquisition: Accurately predict future talent pipelines
Organizations need qualified candidates in talent pipelines to fill both current job vacancies, as well as positions that will be open months and even years in the future. Talent pipelines are critical to accurately predict what a candidate pipeline will look like in the future and TRM software provides visibility into a candidate pipeline to make these critical decisions. TRM software provides insight into how many candidates are at each step of the candidate journey and where candidates are falling out of the pipeline, which helps accurately predict the ability to meet future needs.
As a Director of Talent Acquisition, you can benefit from TRM software by:
- Capturing passive candidates. Passive candidates can be your greatest hiring asset, but if they join your talent community and never hear from you again, their interest in your company is likely to diminish. Building an engaged passive candidate pipeline can help you better predict the talent pipeline to be prepared for future hiring needs. A TRM can facilitate frequent and proactive communication campaigns, such as an automated email or text campaign, to stand out to candidates. This will add more candidate touch points, with little manual effort required of the recruiting team.
Join over 7,000 professionals who receive bi-weekly recruiting tips.
The State of AI Recruiting Software in 2020
It’s 2020. Long gone are the days when artificial intelligence(AI) was a figment of Hollywood’s imagination. Think pieces about whether [...]Online Recruitment Software
Why Video Interviewing Software Is a Must-Have for Recruitment Teams in 2020
As Kevin Wheeler, founder of the Future of Talent Institute, explains below, year after year, recruiting teams fall into the [...]Online Recruitment Software