Use the Other CRM to Create Future Success

What is the single biggest cost for most businesses? Correct – people. Salaries, taxes, and benefits are a major expense, so managing the hiring and retention of good employees is critical to an organisation's success. In the information age, when knowledge has become the product of value, managing your company's talent resources is as critical as managing cash flow or making investment decisions.

The other CRM – Candidate Relationship Management – is an outgrowth of traditional Human Resource (HR) activities. In the past HR departments have concentrated on making policy, hiring and troubleshooting staffing issues, and managing the risks of being an employer. That's no longer enough. The best managed organisations are reaching out ahead of need to create a system that identifies candidates and builds an optimal workforce for the business. And it's working. Companies that invest in talent management are showing higher performance than their competitors, because it is the people who are the creators of value.

CRM systems are designed to help improve recruiting, development, and retention of employees who have the skills and aptitudes to meet a company's needs, both now and in the future. If your company always seems to be scrambling to find good people to hire, consider adding a CRM system to help expand the pool of qualified, pre-screened candidates before you need them.

There's a good article that includes techniques for building your talent management process here: http://tinyurl.com/2kl72n. CRM tools don't have to be elaborate and expensive to be effective, and there are options for small firms with salaried as well as hourly employees. The key is not size or complexity, but how well you are able to build a knowledge base of good candidates. If you have employees, you owe it to your organization to build a business-enhancing CRM system.