Recruitment: how to prepare for economic recovery with Candidate Relationship Management?

CRM & economic crises

Fosway, a European analyst specializing in HR topics, shares its views on the difficulties faced by recruiters, particularly in the current uncertain economic climate. A problem that can also be a source of opportunity. Transforming your Talent Acquisition strategy is essential if you want to meet the double challenge of filling open positions and ensuring future recruitment. How can we do this? By building activatable talent pools now. Fosway and CleverConnect join forces to explain the benefits of a CRM (Candidate Relationship Management) approach in this particular context.

Uncertain economic situation and recruitment challenges: what should we keep in mind?

In 2023, Fosway conducted an international study (mainly in Europe and the USA), “HR Realities Research”, which takes a full look at the HR world today. The report focuses on the link between the economy and strategic recruitment choices, and more specifically on the role of CRM in this complex ecosystem. For more details, please consult :

The Fosway study report

Adapting to skills shortages: the power of CRM in economic turbulence

The webinar Fosway / CleverConnect

The Role of CRM Amid Economic Challenges (replay en anglais)

For Fosway, the situation is clear: “Organizations are competing for the best talent against a background of a shortage of qualified candidates”. For these experts, this is a predominant problem for organizations. “Skills availability” ops the list of business challenges mentioned in the study. It is a major challenge for 73% of companies, a rate which exceeds that of overall profitability (64%), agility (50%), cost reduction (38%) and customer satisfaction (36%).

Without qualified employees, the risk is high for companies of all sizes and in all sectors. Recruitment and performance are becoming increasingly correlated.

Today, Europe faces a triple challenge:

  • quickly recruit quality profiles at a time when the talent shortage is already well established
  • dealing with a labor market impacted by a slowing economy, shuffling the deck in terms of talent acquisition
  • ensure that each new employee recruited is loyal and stays with the company for a long time, or risk having to initiate a new recruitment process.

Traditional “post and pray” recruitment, consisting mainly of posting job vacancies on a platform and hoping to receive relevant applications, is less and less suited to today’s market” explains Fosway.

Proactive recruitment: strategies that must be put in place to cope with economic tensions

We need to stop waiting for the right candidates to come along. This approach no longer works, or in any case is no longer sufficient. We need to look even further ahead than the positions to be filled at the moment, and prepare for future recruitment.

This approach maximizes your chances of reaching more qualified candidates, including the almost inexhaustible source of passive candidates. These profiles, who are not actively seeking employment, may be open to the opportunities you offer. Under certain conditions, however.

Being proactive also means multiplying the number of sourcing channels you use, so that you’re sure to reach nearly 100% of candidates, wherever they are.

The economic crisis is the right time to prepare for the recovery, because it’s when the economy picks up again and you’re recruiting even more, that you’ll have the benefit of a complete talent pool that can be activated effortlessly. And this talent pool takes time to build up. Of course, it can go faster if you use the right tactics and tools to help you.

Candidate Relationship Management (CRM): tomorrow’s recruitment strategy?

Organizations that have been using CRM for a number of years now are able to access different sources of potential candidates. For many of them, proactive recruitment is a miracle cure“, says Fosway. And not for nothing.

Candidate Relationship Management, also known as CRM, takes the relationship between candidates and recruiters/organizations to the next level. Using marketing-inspired techniques, recruitment experts make contact with potential candidates and build real relationships with them to generate preference in terms of employer brand.

It’s really about capturing that right window of opportunity and building a relationship over time so that once you capture that window of opportunity, where candidates are willing to actually change jobs, you are there and you’re available for that job!

Carl Hoffmann
Carl Hoffmann Co-founder CleverConnect

Using a CRM tool is not just for large companies

Candidate Relationship Management can really accelerate proactive recruitment strategies, and Fosway is very clear: “In today’s dynamic job market, this strategic shift is not an option, but a necessity, even for small and mid-sized organizations“.

Some companies have already understood this, and are moving back towards a more human approach to recruitment, based on relationships between people… even if this is only possible thanks to technology. Yet smaller organizations are wondering whether such new techniques are too “far away” from their concerns and priorities.

According to Sven Elbert, Senior Analyst at Fosway, the opposite applies. They should almost be the first to consider using a CRM tool, especially for the automation opportunities it offers: “Particularly in small and medium-sized companies, which don’t have a large recruitment team, you have to be very careful about what you do, where you invest, how you try to automate and how you can leverage that automation”.

He concludes: “To do this, you need a partner who can provide you with best practices”.

Candidate Relationship Management: to invest or not to invest?

We can see that Candidate Relationship Management is a field of investment of great interest.

Sven Elbert
Sven Elbert Senior Analyst Fosway

Indeed, when it comes to Talent Acquisition tools and platforms, CRM is the most frequently quoted area of interest (63%), ahead of onboarding (59%) and internal mobility (50%). The advantage of a good CRM tool is that it can also cover internal mobility, which multiplies its benefits.

Using a single technology platform to improve talent acquisition is becoming a real challenge. Sven emphasizes this point, which he perceives in the market: “The pressure to consolidate [tools] and operate on a single platform is growing. In the past, companies invested in lots of little tools that could do just one thing. Today, they want everything in one place“.

Our talent acquisition platform combines CRM, cooptation, employer brand awareness and candidate experience. It’s enough to take your Talent Acquisition strategy to the next level. Request a demo

Find out more about the link between business, recruitment and Candidate Relationship Management on :

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