3 Ways to Get the Most Value Out of Your Existing Candidate Database
Has it ever occurred to you that you may be sitting on a goldmine?
A lot of recruitment companies and talent acquisition teams fail to recognize the potential value that already exists within their database. They spend most of their time and effort looking for candidates that have never heard of them. While this is important, it may not be the most efficient and competitive way to quickly win the best candidates.
Why should you continue to look elsewhere when there’s a chance that you’re already sitting on a mountain of qualified, passive candidates in your database from which you can extract value?
These are your lowest hanging fruit. Having candidates in your database brings little value in and of itself. However, there is value in being able to build and maintain the relationship you have with each candidate, as well as being able to identify the right timing to engage with them. However, this isn’t widely known, so this is where you can create a competitive advantage with a large ROI (return on investment)!
How does recognizing the value in your database help you increase conversion rate? This could be done through…
1) Creating campaigns to turn passive candidates to active candidates
Maybe the top candidates in your database are not actively looking for a job. What if there is a way you could mobilize these passive candidates?
With the help of relevant content or campaigns (via email, display, Facebook, LinkedIn, and/or Google ads), you can trigger passive, but qualified, candidates that are already in your database to ‘get them on the move’. You can also track which of these candidates are showing high engagement to your website and reacting to your marketing campaigns.
2) Understanding which candidates in your database are on the move
By tracking candidates’ behavior, you can gather insights that can help bring out the most value from each candidate. Wouldn’t it be nice to know when they are starting to look for a new role,, what vacancies they are searching for, or what types of jobs they are interested in?
Advanced analytics allow you to do this. By knowing which candidates are on the move, you can keep building and maintaining your relationship with them and, ultimately, you will be able to identify the right timing to reach out to them and extract value from them.
3) Getting notified when a quality candidate in your database is looking for a job
When a candidate is visiting your website more frequently than usual or is interacting with your online campaigns, the lead score of this person should be updated. When the lead score reaches a predetermined threshold, an automated task could be created to notify your team to start taking action and reach out to these candidates first. This allows you to understand which candidates in the database should be engaged with today, so you won’t have to spend time on candidates that are not bringing you value. Having the ability to notify recruiters to act on these top candidates quickly will give you an advantage in today’s competitive market.
Are you ready to get the most out of your candidate database?
By getting value out of the candidates that are already in your database, you can achieve higher fill rates and decrease time to placement. By being able to simply recognize the potential value in your database, you are already one step ahead of your competitors!
About the Author: As a content marketer, Naila writes blogs, edit engaging videos and create illustrations on her day to day at OnRecruit. Learn more about OnRecruit on their Bullhorn Marketplace Page.