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Adapting to skills shortages: the power of CRM in economic turbulence (Fosway partnership)

CleverConnect joins HR expert analyst Fosway to explain the benefits of using a Candidate Relationship Management (CRM) tool in the context of the current economic crisis. Talent shortages, uncertain economic conditions and growing business objectives appear to be holding recruitment teams back... CRM can turn these problems into real opportunities: but how?

In the complex terrain of European business, organisations face a multifaceted challenge: economic unpredictability, a pronounced skills shortage, and the need for agile adaptation. Building a talent pipeline is at the forefront of this challenge. Proactive recruitment through these pipelines ensures a swift, cost-effective response to filling roles crucial for maintaining business continuity and growth. High-quality hires, essential for long-term success, stem from a deep, diverse pool of pre-engaged candidates.

In this scenario, the role of Candidate Relationship Management (CRM) systems becomes significantly more important. These systems enable organisations to build and maintain their talent pipelines effectively. They provide a structured framework for engaging with potential candidates, not only aiding in the immediate filling of roles but also ensuring a reservoir of talent for future needs when the economy picks up again. CRM systems allow for continuous and meaningful engagement with both top-tier and valuable second-best candidates. This engagement is not a mere transactional interaction, it's about building relationships, understanding candidate aspirations, and aligning them with organisational goals. CRM is a strategic approach that elevates the employer brand, making the organisation a preferred employer in the eyes of potential candidates.

This Fosway Viewpoint paper looks at how a more strategic approach to sourcing elevates the employer brand and makes the organisation a preferred employer in the eyes of potential candidates for 2024 and beyond.

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