Talent Relationship Management software is a fairly recent development

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Talent Relationship Management (TRM) is a relatively new term, but it is similar to one that we all know: Customer Relationship Management (CRM). CRM is defined as follows: “Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth.” Just like CRM solutions help companies to develop customer relationships and drive customer retention, TRM solutions help companies to develop relationships with candidates and retain the interest of candidates beyond the hiring cycle. Talent Relationship Management technologies are a platform for employers to manage and connect with candidates. It's more than just a candidate database. If this sounds similar to what an Applicant Tracking System (ATS) does, then you’re on the money. However, there are some key differences between these two solutions that is making TRM look like the future of candidate management.


The Role of TRM Software
in the hiring world, but talent relationship management is a principle as sweden phone number list well as a tool. The principle is that talent relationships, just like customer relationships, are essential to the survival of any company and must be maintained. It's more than just headhunting or playing the numbers game. The competition for candidates who excel with niche skill sets or have high levels of seniority has never been fiercer. In a candidate driven market (which 90% of recruiters say we’re in) the relationships that you can build with top talent will play a crucial role in your ability to recruit that talent.

According to a recent study from Glassdoor, 47% of declined offers in the second half of 2015 were due to candidates accepting other jobs, up 10 points from the first half of 2015. What this indicates, is that high quality candidates are receiving a veritable sample platter of job offers and having a relationship with a candidate will make the difference between hiring them and not.