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Successful talent relationship management can make recruiting more efficient. But how can good talent relationship management be implemented?
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If you rely on successful talent relationship management, you can organize your recruiting efficiently and thus find suitable applicants even for hard-to-fill positions.
But how can good talent relationship management be implemented and what does it actually mean?
This article will help you to understand what Talent Relationship Management is, how to implement it perfectly for your company and how to simplify recruiting.
What is Talent Relationship Management (TRM)?
Simply put, Talent Relationship Management is about building and maintaining relationships with talent inside and outside your organization.
The goal of a TRM is to bind talents to your company in the long term so that you can fall back on them at a later point in time. Ideally, you will be able to establish this bond before the applicants become employees.
In recruiting, you are always one step ahead of other companies on the market when it comes to finding suitable candidates for your business in times of a shortage of skilled workers.
Especially the contact to suitable talents is an important part of TRM. Recruiting suitable employees is becoming increasingly difficult in our fast-moving times. In addition, recruiting technology is undergoing rapid development.
In light of all these changes and in our digital world, in order to keep up as an employer and not get booted out, the best way is to use software.
More on what type of software is best for talent relationship management later.
Current development: Talent Relationship Management
The changes currently taking place in the labor market are serious. And it is precisely to these changes that you as an entrepreneur must respond if you want to attract new talent to your company and retain it in the long term.
In the past, the instrument of the job advertisement was sufficient to attract new employees. Managers had the choice between a multitude of applicants. This is no longer the case today.
The contacts established with suitable candidates are worth a lot nowadays and are becoming increasingly important.
In order to keep the contacts to qualified candidates to fall back on them at a later point in time, the use of a well-functioning TRM is of elementary importance.
Difference Talent Relationship Management and Candidate Relationship Management
Anyone who studies the topic of TRM more intensively will sooner or later stumble across the term Candidate Relationship Management (CRM).
Talent Relationship Management and Candidate Relationship Management are actually very similar when it comes to building lasting relationships between candidates and companies. Both systems involve a database of companies and products. But there are also differences between the systems.
Differences
One of the key differences is that CRM usually focuses exclusively on current candidates. The relationship after the hiring process, on the other hand, is usually no longer included in CRM.
Candidate Relationship Management is thus intended for maintaining and building contacts with potential candidates and aims to bind suitable candidates to the company at an early stage by having candidates apply to you.
Internal Talent Relationship Management
In TRM, there are measures that are aimed at potential applicants as well as those that strengthen the relationship with your employees.
In this way, you can increase the general satisfaction of your employees with regard to their workplace and their job.
Appropriate measures of the TRM
- Training and education for employees
- Internal recruiting
- Employee retention
Maintaining the working atmosphere and employer branding in particular are important factors that contribute to the long-term loyalty of the company's own employees.
To find out how you can improve these points, you can ask your employees questions to find out what they need to feel comfortable in the company and what content or knowledge they would like to be taught.
External Talent Relationship Management
In contrast to internal TRM, external TRM focuses on establishing contact with new talent outside the company. The goal is to present oneself to the general community as an attractive employer.
The following measures are used in external talent relationship management:
- External recruitment
- Employer Branding
- Keep contacts
Strengthening employer branding is one of the most important approaches in talent relationship management. If you fail to present yourself as an attractive employer to your team or potential new candidates, recruiting will suffer as a result.
The location of your company also plays a decisive role.
Importance of a talent pool for TRM
By setting up a talent pool, you significantly simplify applicant management for your company.
Suitable employees are found more quickly, since the talent pool can be used first when new vacancies arise. This also minimizes the costs incurred for applicant management.
Especially if you have to fill new positions on a regular basis, setting up a talent pool makes a lot of sense.
Three phases of CRM with Talent Pool
1. Identification of talents
2. Establishing a relationship with the talents
3. Attracting talent for positions to be filled internally in the company
Advantages of Talent Relationship Management
A well-functioning TRM enables you to find suitable candidates for an advertised position in the shortest possible time without having to search for them for a long time.
In addition, you can refine or modify the search criteria as you wish, depending on the positions for which you are looking for an employee.
If you can build a relationship with interesting talent and get them excited about your content and your company, you have a better chance of attracting that same talent when they are looking for a new challenge.
This is true not only for job seekers, but also for people who are currently employed and would like to change jobs.
What kind of software do I need for a functioning TRM?
For successful talent relationship management, you need recruiting software that keeps the relationship with talent and potential employees alive through various tools. These include tools such as:
- Employer branding
- Email Nurturing campaigns
- talent pool
- Active Sourcing
However, recruiting software alone is not enough. A perfect solution is a combination with an applicant management software, which takes care of the administrative hiring tasks.
With the software you should in any case have the possibility to send a notification email to all candidates who have applied for a job.
Sending a monthly newsletter to your talent pool should also be possible with a good TRM software.
When it comes to talent pools, it is also very important that your recruiting software has just such a talent pool. This way you can stay in contact with all candidates and applicants who are interested in you as an employer.
Interaction of TRM and Recruiting: How can I integrate Talent Relationship Management into my recruiting process?
To make the most of talent relationship management and successfully incorporate it into your applicant management process, there are a number of steps you can take to build einw relationships with talent:
- Building Talent Pools
- Internal Talent Relationship Management
- External Talent Relationship Management
- Relationship Management
Learn more about developing a Talent Acquisition Strategy.
More information
Would you like to find out more about recruiting? Then take a look at our free guide to active sourcing.
