Today, companies across the globe continue to invest more and more time and money in their process of hiring and recruitment. Right from investing in applicant tracking systems (ATS) to social recruiting tools along with other forms of recruitment software – organisations are on a spree to leverage the power of technology in the course of recruitment and hiring.
While software like ATS and Human Resource Information Systems (HRIS) are there to ease and simplify the hiring process and of course act as powerful tools they can be only as good as the data that goes into them. On the other hand, capturing resume data and storing it in a way that can be analysed are crushing problems as companies continue to receive more and more resumes every day.
So, how do organisations deal with the overwhelming response of resumes daily?
How do they deal with the problem?
How do they leverage the power of technology and sort issues related to resumes?
Well, a software component named resume parser is the answer. This tool is referred to the resume parsing technology that comes to the rescue of employers while dealing with thousands of resumes.
What is resume parsing?
Resume parsing refers to the technology that allows you to process resumes submitted online by extracting data and then converting them into properly structured information.
To put it in a simpler manner, resume parsing allows the recruiter to process online resumes by extracting data in an intelligent way.
How does resume parsing help recruiters?
The resume parsing technology is used by recruiters to create a far more convenient resume application and screening process. It allows recruiters to electronically organise the information contained in the resumes or the candidates’ applications using the semantic search technology in the background.
Once this information has been obtained, or the resume has been parsed, it becomes easily searchable using keywords and phrases. As resume is parsed, the programs starts searching for these particular terms and keywords and churn out the most relevant information to the recruiters. So, instead of looking through hundreds of resume, recruiters can easily get hold of the right resumes with the help of resume parsing technology. And the recruiter, of course, benefits from this technology.
Resume parsing technology also has the capability to extract contact information, work history, relevant skills and candidates’ educational background. In addition to these typical bits of information, recruiters can also customise tailor fields and forms to beseech information that might not be encompassed in the customary resume application process.
Over time, this technology has become so intense that some resume parsing components have ended up achieved what we mean ‘near human accuracy’ with up to 95% efficiency.
Needless to say, with the help of resume parsing technology, the process of searching and sifting through scores of online resumes have become faster and very convenient. It has enabled recruiters to offer a much better candidate experience with quicker and more appealing response times.
Organisations that are still looking for the very best technology to sift through thousands of online resumes must resort to resume parsing technology soon.