With the introduction of online recruiting and keyword searches, the average corporate recruiter’s job became easier, but there was still plenty of room for improvement. Most Recruiting CRMs (Candidate Relationship Management) systems deal with hundreds of resumes and corresponding data, but the game has changed. According to Jamie Lawrence of HRZone, the explosion of social media and other job board sites have increased available data sharply, with over 90 percent of that being unstructured and qualitative. For recruiters, no matter how experienced or adept their systems are at matching keywords, it is still very possible to miss that important nugget of information about a candidate if it is buried within raw or unstructured textual forms of data.
This, then, underscores the need for a more accurate, efficient and faster way to parse out information when searching for the best candidate to fill a position. Normally, much of a recruiter’s time was spent in the parsing process, extracting relevant data to populate data base fields.
Contextual, cloud-based searching catapults recruiting into the Age of Artificial Intelligence by using the kind of intuitive text-based searching which could be suitable for data mining from social media, in short the entire internet which is filled with data in unstructured formats; rather than relying on the more limited supply of structured data. By doing so, the recruiter is less likely to miss a relevant candidate and the agency isn’t losing its potential fee.
Samantha Wallace, North America Market Leader for Korn Ferry Futurestep, believes that the importance of a candidate’s digital footprint can’t be underestimated: If a candidate’s digital footprint doesn’t show up in the ‘right’ kind of network, they could be excluded from being considered for a position. If the candidate is missing a strong online presence, a contextual search may be able to find information in available data, demonstrating whether a particular candidate may be suitable for a position.
Over a third of employers responding to a 2015 poll stated that candidates with no verifiable online information were less likely to be interviewed, let alone hired. Supporting this trend is the fact that over half of the respondents used a social networking site – up from 39 percent in 2013 – to research potential candidates.
Recruiters also searched social media and networking sites to learn what others thought about the candidates, including co-workers and past as well as present employers. Other information included confirmation of past and present employment, educational and other professional credentials as well as uncover relevant information that may have been omitted in a previous resume.
Contextual CRM such as Spire TalentSHIP® utilizes a cloud-based Contextual Intelligence (CI) platform which employs Machine Learning to understand, interpret and analyse any form of textual content which HR is primarily characterized with. It has been shown to boost revenue while saving time and recruiter effort involved in the mundane processes of Talent Acquisition. Recruiters can increase interview-to-select ratio to 73% from the existing level of less than 30%. This is a significant enabler of their performance.