Reduce time-to-hire with Contextual Analytics

Mar 11, 2016

As a Hiring Manager, are you looking to streamline your talent acquisition process? Is your HR department grinding to a screeching halt in the conundrum of a recruiting spree and unable to find and hire the right candidates?

For a company to thrive better, HR Managers need to build a rich pool of candidates with the right skill sets and experience. However, the process of searching, matching, evaluating and hiring typically takes time due to archaic methods of recruitment. In today’s digital era, businesses need to understand the importance and the need to transform their HR processes by using intelligent technologies.

Time-to-hire

Time-to-hire can be accounted for from the day when a job requisition is opened up to the day when an offer has been accepted or the day when the newly hired employee starts to work. The process starts with - advertising or posting the job vacancy; searching and shortlisting candidates for interviews; evaluating and completing interviews; background checks; and waiting for the candidate to accept the offer.

However, one must note that a reduced time-to-hire ratio does not necessarily mean that the recruiting process is efficient. There has to be a direct correlation with the ‘quality’ of hires as well.

Spire contextual analytics gives two-pronged advantage for Hiring Managers - quality candidates and reduced time-to-hire, saving money in the process and reducing operational effort.

By using Spire Acqura™, Hiring Managers can reduce time-to-hire by 40%

“By drilling down into the data, it’s possible to spot root cause problems in the hiring process and minimize their negative impact. Even better, by eliminating these problems, a company is able to maximize quality of hire while minimizing cost and reducing time-to-fill.”
- Lou Adler, best-selling author and eminent personality in the HR industry

It is this drilling down into the data that Spire is specialized in. Spire is an operational analytics and hiring solution which can accurately match and map candidate resumes to job descriptions and vice versa like a domain expert. It can even search up to a mind-boggling 1300 parameters at one go, drilling down unstructured HR data into quantitative bits and making sense out of it the way human beings do. It comprehends contextually and this capability is the reason why Acqura™ pin points the most closely matching resumes, that too in a matter of seconds.

Spire Acqura™ is unlike any existing HR automation systems which work in a linear fashion and perform only simple keyword searches. They do not comprehend the meaning in resumes nor understand skills proficiency levels and thereby cannot shortlist the most relevant candidates.

Spire Acqura™ is powered with Spire’s proprietary contextual intelligence technology. It comprehends resumes and job descriptions like a domain expert and could be used as a complement to any existing ATS or even as a standalone application.

The Spire contextual difference

  • 40% decrease in time-to-hire decrease

  • 70% increase in interview-to-select

  • 50% cost savings

The Spire contextual intelligence platform gives 95% accuracy in contextual search and 80% accuracy in demand (job descriptions) – supply (resumes) mapping. These levels are the maximum possible in machine computing.

Acqura™ is one of the five products of the Spire TalentSHIP® suite. Each of the other products addresses a different part in the human capital supply chain.