Say, for example, one job opening receives approximately 250 applications, and out of these, nearly 75% turn out to be incompatible. This suggests that one recruiter spends approximately 23-24hrs screening resumes for a single job post. Consider the number of hours one invests in case the job openings are more, especially if the recruitment is for an ERP company. A waste of time and resources.
However, technology has brought about a positive change in the recruitment industry. AI-driven tools steering the recruitment cycle have dramatically reduced the exhaustive tasks and saved valuable time and money. One such automated HRIS solution is a resume parser that has proved to be a boon for Oracle HCM users.
This article can be a perfect read, if you’re wondering what a resume parser is and its role.
What is a Resume Parser?
HR managers often use resume parsing tools to automate importing and analyzing candidate data from a set of resumes. Powered by deep learning, the parser intelligently identifies and accurately fetches, and stores the data with the list of values that help match the skilled candidates with the job descriptions.
Recruiters receive candidate resumes in Word, PDF, or any other format. Because resumes are ambiguous and can be in diverse languages, their formatting may vary from one recruiter to another. Hence, when searching for an ideal candidate, a recruiter must skim through an entire pool of resumes. Irrespective of the time invested, matching each candidate’s skill with the job requirement becomes inevitable.
This is where a resume parser can help a recruiter in Oracle HCM. The tool gives the recruiters leverage to parse resumes with precision within seconds and help hire talented candidates. Additionally, the tool nullifies manual data entry and gives employers access to a skilled candidate pool.
What Are The Features Of An Outstanding Resume Parser in Oracle HCM?
- Parses resume in different formats
- Parses resume in multiple languages
- Extracts candidate information in additional data fields, excluding the 27 fields offered by Oracle HCM
- Auto-populates data fields when a candidate fills a job application.
- Is certified and GDPR compliant
How Can Oracle HCM Recruiters Benefit From A Resume Parser?
Introducing trailblazing technology in a recruiting approach has its benefits. While AI dominates every niche, recruitment is a segment that isn’t untouched either. Leveraging a technically advanced resume parser has aided the sluggish and error-prone manual recruitment tasks that waste valuable hours.
Mentioned are the most prominent benefits of integrating an AI-driven resume parser in the recruitment approach:
- Improve Candidate Experience
An intelligent resume parser in Oracle HCM Cloud helps HR managers enhance the positive candidate experience. Integrating the parser in the backend enables the candidates to upload their resumes on the website’s career page and apply to the job in a single click. The candidates feel their time is valued since they save time from filling in the details already mentioned in their CVs. A speedy application process is the first step towards embarking on the road to a positive brand value.
- Build A Globally Diverse Team
One of the prime requirements of an enterprise-level organization is having its footprints all across the world. Companies need to build a global team to bring this vision to reality. Job for Oracle HCM recruiters becomes easy with a resume parser that enables them to parse resumes in multiple languages.
- Bias-free Hiring
Biased approach based on gender, color, age, race, beauty, and more during candidate selection restricts the company’s reach to talented candidates resulting in losing them to competitors. Recruiters play a significant role in establishing whether their hiring approach is biased. Integration of a resume parser gives them a choice to identify and remove data that causes bias. The parser doesn’t fetch data from those data fields that the recruiter doesn’t select. Therefore, selecting candidates on the parameters like skills, education, qualification, and certifications that truly matter to make a sane recruiting choice becomes feasible.
- Access To Resumes In Multiple Formats
A resume parser in Oracle HCM lets the HR leaders get access to proficient candidates who share resumes in different formats. Be it any document format- DOC, DOCX, PDF, RTF, TXT, ODT, HTM and HTML, DOCM, DOTM, DOT, DOTX, HR managers can be assured of getting accurately parsed candidate data. Plus, they get to save time converting resumes to a specific format without the fear of losing on to potential candidates.
Automating the recruitment practices with a resume parser is inevitable. The HR managers, though, should consider opting for a parser with all the important features to enhance the hiring approach and is easy on the pockets.