Why Do You Need A Recruitment CRM? The Ultimate Checklist

Originally published at opengeekslab.com on August 28, 2020

Qualified employees are the key to productive workflow and business success, though finding the right people becomes highly challenging because of the abundance of candidates on the market, therefore making recruitment CRM platforms more and more popular. Enterprise recruiting solutions offer an efficient alternative to traditional recruiting methods that ensures finding talents spending minimum time and money.

In this post, OpenGeeksLab will define what recruitment CRM software is, list its most essential features, and describe the benefits a company gets after adopting recruitment software.

What is Recruitment CRM?

Recruitment software serves as an umbrella term for a range of tools used to support and optimize the recruiting process. Recruitment platforms vary according to several criteria, most common of them being basic objective and customer company type.

Recruitment systems fall into:

1. Applicant Tracking System (ATS)

This group is represented by Workday, Greenhouse, iCIMS, Taleo, SAP SuccessFactors, and Smart Recruiters.

2. Candidate Relationship Management (CRM)

The best recruiting CRM software examples include Bullhorn, Beamery, Avature, Breezy, and Smashfly.

3. Interviewing Software

Spark Hire, Olivia, myInterview, Jobpal, and Outmatch stand among the most popular online interviewing software examples.

Although developers usually aim at creating unified products equally applicable by recruiters irrespective of company size, there are still significant differences between recruiter strategies in different scale organizations. Three most common types of companies that go for CRM recruitment systems are:

1. Enterprise

2. Agency

3. Small to Medium Business (SMB)

Recruitment Software Market Share

Recruitment CRM systems have been firmly established by enterprises for about a decade, though the interest in adopting or creating custom recruiting solutions constantly grows. Thus, despite the modern market already offers varied web-based and mobile apps improving recruiters’ routine, there is always a place for innovation and another app.

Analytics claim that the recruitment software market is going to expand and grow by $683.80 million from 2020 to 2024. In 2020, year-over-year growth rate estimates 4,74%, though CAGR for the predicted period will reach over 5%.

According to the research, 74% of recruiters have already adopted recruitment CRM software into their workflow, and about 95% of companies share positive experiences of using some form of CRM recruitment systems.

Benefits Recruitment Software Brings to Your Business

Now let’s see how companies benefit from integrating the recruitment system into their business processes.

1. Boosted Productivity

2. Automation & Unification

3. Reduced Expenses & Time Waste

4. Data Processing Optimization

5. Improved Interviewing Process

6. Vast Talent Pools & Detailed Candidate Profile

Essential KPIs

Before starting recruitment CRM development, a business runner should examine niche KPIs. Let’s uncover the most crucial ones:

1. Market Research & Business Analysis

2. Challenges to Overcome

3. Proper Feature Set

4. Multiple Integrations

5. Mobile Functionality

6. Reliable Software Vendor

Must-Have Features

Recruitment software features vary depending on different factors including software type, customer company type, and client objectives. Most common feature set includes:

1. Recruitment Process Management

2. Applicant Management

Applicant management feature often includes pre-hire assessment and background checking opportunities, as hiring employees recruiters must evaluate not only professional qualities, but also personal traits to assure each candidate will become a harmonious part of the team.

3. Vacancy Posting

Besides, with specified software, recruiters can build an in-house career portal allowing candidates to search vacancies directly connected with the peculiar organization. Developing own career portal guarantees information being up-to-date because of its synchronization with the general database and makes company-applicant interaction more productive, removing mediators like third-party vacancy posting platforms.

4. Resume Search & Analysis

5. Interview Management

6. Reporting & Analytics

7. Onboarding Guidance

How Can You Make Money from Your Recruitment CRM?

There exist various monetization models that help CRM recruitment systems bring profits. As a rule, they differ according to the platform’s business objectives and its target audience. Most common options include:

1. Pay Per User

2. Pay Per Hire

3. Pay Per Employee

Need to Build Your Own Recruitment CRM?

Looking for custom recruiting solutions? Do not wait to contact us and share your idea! Our team is always ready to cooperate and build a product perfectly fitting your particular business case. Still, have doubts or want more details? Book an online consultation with our expert to discuss the aspects you are interested in.