What Is Candidate Management?
Candidate management covers any strategies companies use to organize, categorize, prioritize and track applicants for their available positions. With the right tools, managing candidates can be an efficient and effective process, helping organizations hire the best applicants without investing too much time or resources.
Candidate Management: An Overview
Candidate management, sometimes called candidate relationship management, might involve sourcing and attracting applicants, screening resumes and cover letters, conducting interviews, assessing skills, communicating with candidates and hiring the most qualified individuals. All of these efforts can help those involved in the hiring process identify and prioritize top jobseekers while maintaining relationships and creating a pool for future opportunities.
What’s a Candidate Management System?
A candidate management system, sometimes shortened to CMS, is typically a software solution that enables hiring managers, human resources teams and recruiters to take control of the hiring process in a way that works for them. Candidate management software stores candidate data and assists in making hiring decisions. With effective candidate management software, you can track candidates, implement knockout questions and keep your recruitment team on the same page.
The Benefits of Candidate Management
A candidate management system offers many benefits, including:
- Task automation
- Enhanced collaboration
- Improved internal and external communication
- Reduced time-to-hire
- Insights into the hiring process
- Remote hiring facilitation
7 Core Components of Candidate Management
An effective candidate management system should facilitate myriad tasks, including:
Candidate Sourcing and Tracking
A candidate management system can help you source the most qualified job seekers for your available position(s). By carefully crafting your job description, posting it on the right job websites and establishing candidate criteria, you can create a system that makes it easier to attract and identify high-quality applicants.Â
Keeping track of all the candidates who apply can be its own chore, however. That’s why candidate management solutions often have applicant tracking features. These systems enable hiring managers and recruiters to track candidates’ progress and help with scheduling interviews. Applicant tracking systems help human resources and recruitment teams get on the same page and make smart decisions about which candidates to hire.
Communication
The importance of communication during the recruitment and hiring process cannot be overstated. Companies must clearly communicate their expectations and criteria. They need to communicate with candidates promptly in whom they are interested. It’s also prudent to have good communication with the candidates companies don’t select to keep the door open for potential future opportunities. This creates a positive candidate experience, and a helpful way to do this is through automation.
A good candidate management system includes automation features that improve communication efficiency. This effort might involve using automated email templates, scheduling tools and status notifications.
Data Gathering
Even for small organizations, the talent acquisition process involves a great deal of data. This includes the number of applicants and their individual skills, working experience, diplomas and certifications, references and personal information. For organizations that grade their candidates internally based on predetermined criteria, this data is even more important to collect and track.Â
A candidate management system with effective data gathering and display options is key. A solution that can capture and store candidate information in a centralized candidate database that’s easy for HR staff or recruiters to access boosts efficiency and reduces the risk of data loss.
Feedback Management
The recruitment process isn’t a one-way street; an effective strategy incorporates candidate feedback. This helps employers learn more about how job seekers view their company—their employer brand—and can help them refine their hiring process to increase candidate engagement.
A candidate management or applicant tracking system might include a feedback management module that documents candidate feedback, as well as notes from recruiters, interviewers and hiring managers. Storing this data in accessible places helps organizations continually improve how they hire.
Interviewing
A candidate management solution should include an interview scheduling feature so all parties involved can easily find a time that works for everyone. With data sharing, hiring teams can share documents internally and with interviewees so everybody has the information they need.
Resume and CV Management
Candidate management systems may also feature tools that make reviewing and understanding resumes and CVs easier. For example, resume parsing technology can automatically extract relevant information, such as skills and credentials, and store them in candidate profiles for quick review.
Segmentation
The candidate segmentation feature of a candidate management or applicant tracking system can affix different tags to profiles. These tags might indicate different titles, specializations or other candidate attributes. This allows a recruiter or hiring manager to search for candidates by these tags and then create personalized messages accordingly.
Candidate Management Best Practices To Boost Recruitment Outcomes
Some best practices of managing candidates effectively include:
Customizing Your System
Candidate management works best when organizations tailor their strategies based on unique needs and circumstances. The best applicant tracking systems have customization capabilities, such as branded careers pages to create consistency and strengthen the employer brand. Such features also enable recruiters and hiring teams to personalize their communications.
Employing a Candidate-Centric Approach
A major focus of candidate relationship management is cultivating a better candidate experience. It’s often beneficial for organizations to approach talent acquisition similarly to how they approach marketing their products or services. Effective candidate outreach centers on candidate needs and preferences, helping organizations to better understand the motivations and career goals of the talent they attract. This understanding can help organizations refine, fine-tune and personalize their hiring campaigns to find the perfect available talent for their needs.
Measuring and Tracking Metrics
Another similarity between candidate management strategies and marketing plans is that both require a clear definition of success. It’s important to establish metrics and key performance indicators (KPIs) before beginning or revamping a candidate engagement or talent acquisition strategy.Â
It’s also critical to measure and track those KPIs and metrics. An effective applicant tracking solution can help you track and store all this data, to which you can add notes for contextualization. Some hiring metrics and KPIs you may want to track include:
- Number of applications: How many candidates applied
- Candidate engagement: How many candidates interacted, such as by responding to emails or coming in for interviews
- Candidate satisfaction scores: Scores derive from email feedback surveys
- Time to hire: How long it took to fill a position
Nurturing Candidate Relationships
It can be valuable to nurture candidate relationships over time. Many employers find they have numerous qualified candidates applying for one job. This is great for a company, but it can be frustrating for job seekers.
The job market is forever changing, however, and there’s no guarantee that an organization will always have a surplus of talented candidates applying to every position. Businesses can also find themselves having to fill one or more positions suddenly. Keeping in touch with previous candidates who impressed, but ultimately didn’t receive an offer, can pay off in the form of a faster hiring process and a lower cost to fill an open role.
This communication includes notifying previous applicants when new positions become available, but you can do more than this. You can send periodic messages about your company and its plans for future growth while checking in and inquiring about past applicants’ professional lives. You can also ask to include them on email newsletters so they automatically receive company updates.
Prioritizing Data Privacy
When looking at candidate management software, it’s crucial to pick a solution that has security and data privacy guardrails. A trustworthy solution has security protocols that can encrypt data when it’s in transit and at rest. Look for a candidate management software provider that will house your data—and the data of your applicants—in a state-of-the-art data center.Â
Understanding the Importance of Integration
Integration is another key feature to look for in software tools. If an applicant tracking tool is excellent on its own, but it makes transferring information to the other platforms and software you use difficult and unwieldy, it’s not a good option. You can’t upset your whole tech ecosystem to accommodate one tool for managing candidates. Look for a solution that can integrate with your payroll modules, virtual interview platform, and background check tools.
Turn to ApplicantStack for Your Candidate Management Needs
ApplicantStack features all the candidate management functionalities and benefits mentioned in this article and more. Start a free trial today to discover how ApplicantStack can improve your hiring process.
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