Is Your Organization Utilizing Resume Databases Fully?

Oct 01, 2016

As the global economy continues to evolve, job seekers are flooding the markets with resumes. Among these will be tech-savvy Millennials, so it follows that recruiters who hope to tap into this talent pool will need to be equally adept at implementing tools that provide a more holistic concept of talent acquisition while maximizing the utilization of their already existing resume databases and ATS (Application Tracking Systems).

On the contrary, most companies typically end up neglecting the vast number of resumes which flow into their databases regularly, from job boards, career pages and references. Inadvertently, during the process of hiring, they have no time to look into these applications. It is obvious that they might easily be losing out on worthy candidates.

Here are few Benefits of Maximizing the Utilization of Existing Resumes

• Increased site traffic

• Distribution of jobs and visibility to passive job candidates

• Improved candidate response rates

• Increased online referrals and shares

• Improvements in recruiter productivity rates, especially when in-box recruiting activities are primary due to heavier requisition loads

To get the most from your existing databases, consider the following:

Understand your Current ATS, its Capabilities and Limitations

What kind of candidate data does your ATS system record and cull out and how do these mesh with your company’s needs. Critical elements should include: first and last names, mobile phone, email address, position applied for, and outcome, as well as whether they are currently employed.

Other considerations could include ATS working as CRM solutions, including compliance tracking and hiring portals supporting collaboration between agencies and corporate recruiters.

Contextual Search is key to Successful Recruiting

One of the buzzwords in recruiting and other HR databases is contextual search recruiting. Simply put, contextual searching involves a more intuitive approach which understands what the user is looking for and is able to search raw, unquantified data as well as structured data, with text-based understanding instead of just field or file names.

More than 90 percent of unanalysed data in most databases is unstructured and qualitative, making it ideal for the type of retrieval that contextual search software provides, as it avoids the usual hit-or-miss downsides of traditional keyword searches. Software developers are meeting the challenge by creating improved technology tools to enable recruiters to more accurately search-and-match a candidate’s qualities relevant to available positions.

Is your Company keeping Current Applicants Engaged?

This is especially important if a database contains high numbers of Millennials, who currently apply for over a third of available positions in the U.S.

Companies could collate all of the existing resumes in their databases, run Contextual Search and Match and pull out the most relevant resumes. These candidates could specifically be brought into a social ecosystem where recruiters can begin engaging with them. A qualified talent pipeline gets built in the process.

The Takeaway

Most companies invest huge sums into recruitment efforts to attract the most qualified personnel. By remembering that a goldmine of information already lies within a database, users can maximize that investment to the fullest while achieving hiring goals. For more information about how Spire’s solutions can help your company optimally manage its databases, contact engage@spiretogrow.com and learn how to save recruiter time and increase revenues while focusing on your top candidates.

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