A company’s HR needs to be able to handle multiple tasks at once. As such, they can use every tool at their disposal to help them fast-track their tasks. One way to be more efficient is by automating their recruitment process. People tend to send in a lot of applications whenever there is a job vacancy. On the one hand, companies are delighted to see a lot of potential candidates.
On the other hand, sifting through these applications can take a lot of time. It is no easy task to check every single resume sent it, and it is even more impossible to remember the information on each one.
With all the other jobs waiting to be done in HR, they can’t allow too much time to go through the application. Luckily, there is a way to speed up the process without being unfair to any of the applicants.
What is a Resume Parsing Software?
A resume parsing software was created to analyze the data from the applications submitted by interested candidates. The program has the capability to extract the most relevant data and compile that so that it can identify the best applicant for the job. It uses data from multiples fields and organizes them according to a set of standards.
With a resume parsing software, the job can be done quickly and accurately; There is no room for human errors or even bias with a system that looks at the available data before ranking the applicants.
Effectiveness of Resume Parsing Software
Despite the program running by itself, studies have shown that resume parsing achieved eighty-seven percent accuracy. On the other hand, when humans are handling resumes, they achieve ninety-six percent accuracy. With barely a ten percent difference, resume parsing is considered quite successful.
Benefits of Resume Parsing Software
Since the system uses data extracted from the resumes, the way that candidates are ranked remains very objective. Some resume parsing software can even be programmed to ignore factors such as race, gender, or even age so that there really won’t be any discriminatory decision in the hiring process.
The use of resume parsing is genuinely cost-efficient. It doesn’t just save on time; it also saves a lot of money because it is a very effective tool which helps HR professional get the job done faster. When they don’t spend too much time on viewing resumes, they can work on other tasks that add value to the company.
When people don’t hear back from a job after a certain amount of time, they might decide to try out something else. However, it’s not always a company’s fault when they can’t immediately get back to someone due to the time required to go through all the applications. By speeding up the application process, the chances of losing candidates due to the long wait also become significantly less.
After the software extracts information from the applicant’s resume, it can remain in the database unless it is manually removed. When a new vacancy comes up that is a much better fit, the software can still suggest the candidate for the job since their information is still in the system.
A resume parsing system has many features and benefits that can truly help your business grow. With a system helping you sift through qualified employees, you are more likely to find the best employees for the vacancies you have. This will definitely play a significant role in the success of your business.