When we talk about AI and automation, recruiters tend to have mixed emotions. AI, however, is on its way to lending a helping hand to human resource management globally. Recruitment is a strenuous job, and the existing scenario makes it the most demanding segment for any business. Ironically, as challenging as discovering the right talent is, one wrong hire can prove very expensive.
What Is A Resume Parser?
A resume parser is a part of recruitment automation that is a product of innovative technologies designed to cater to the diverse aspects of the recruitment industry. These may include the job application process, screening the resumes, & shortlisting candidates based on skills.
The resume parser, powered by deep learning, helps the recruiter improve hiring practices by delivering accurately parsed candidate data. Contrary to the talks tagging the AI recruitment software as a human replacement, it works with the HR managers, empowers them, and enhances the recruitment process for hiring professionals and candidates.
Not a replacement for human recruiters, we define a resume parser as an AI tool that:
· Boosts the internal team mobility,
· Enhances talent visibility,
· Improves the candidate selection experience.
How Does A Resume Parser Transform The Hiring Approach For Oracle HCM Users?
Making a smart decision with an AI-driven resume parsing solution can save your company thousands of dollars per employee, enhancing the work quality and services offered and improving your company’s brand value among candidates and clients. Hence, it’s no surprise that numerous HR professionals and companies plan to benefit from AI and automation.
Candidate-first strategy is gaining momentum in the recruitment approach. Making better hiring decisions, hence, has become imperative.
Here are a few ways a resume parser can revamp the hiring process.
· Enhance Candidate Experience
In the current candidate-driven job market, offering a wonderful candidate experience has become one of the biggest priorities for Oracle HR managers. How is this possible when there are thousands of job applicants in the industry and a tight deadline? The answer lies with the resume parser.
Automating the job application process with a one-click application encourages talented candidates to submit resumes quickly. The process saves a candidate’s valuable time by automatically fetching the important resume information and storing it in the database.
· No More Tedious Manual Resume Screening
The second benefit of automated hiring with a resume parser is improving employee experience. Recruiters spend hours and days screening through hundreds of resumes without guaranteeing that the process will reap data of qualified professionals.
A parser saves a candidate’s time by easing the job application process and also helps a recruiter save time by screening bulk resumes in one go. Backed up with intelligent automation, the hiring managers can receive the candidate database in a few seconds instead of days.
· Encourage Skill-based Hiring
Unlike the manual resume screening process, the resume parser is designed to uncover the best industry talent faster. How? All the recruiter is to do is select necessary data fields- skills, certificates, experience, licenses, and education qualifications, among a few from the 25+ fields that Oracle allows. Once the resumes are uploaded. The parser auto-populates the fields and fetches the data of candidates who match the selected fields.
· Diversity At Its Best
When we say a diverse team, we also mean an unbiased selection criterion. Because the automated recruitment software functions on data, conscious and unconscious bias automatically takes a back seat from the hiring approach. The team built is based on caliber rather than pedigree.
· Access to Resumes Shared In Multiple Formats
Quite often, candidates share resumes in different formats. A recruiter would convert each into a preferred format or ignore the application. This means hours are wasted, and in the second option, talented candidates are missed. A resume parser, however, parses resumes of all the candidates regardless of the format- DOC, DOCX, PDF, RTF, TXT, ODT, HTM and HTML, DOCM, DOTM, DOT, DOTX.
AI-based resume parser acts like a perfect solution to a recruiter’s dilemmas beginning from the job application process. It ensures ideal candidate selection, working together and for the recruiters instead of replacing them. Playing a pivotal role in candidate selection, it simultaneously saves a company’s time and cost.