What is Resume Parsing?
Resume parsing is the automated method of pulling out structured data from a resume using software to aid import, storage, processing, and search. 'Structured data' means data with accurate labels, such as all of your jobs and internships, which would be found with the label' experience.'
What is the purpose of resume parsing for recruiters?
As a recruiter, have you ever struggled to explain why a role's recruiting drive is so slow? Or are you having trouble compiling figures from even surface-level data? You are not alone. Every job ad attracts around 200 applications on average.
Trying to locate the ideal people for their firm while managing the pipeline of applicants coming in and going through papers other than resumes is already difficult for a recruiter.
- Data input takes too long
Each job advertisement attracts around 200 applications on average. When this information is manually entered, there is a considerable loss of time and accuracy since it takes a long time to translate it for a big batch of resumes. As a result, it is not surprising that recruiters only examine resumes for roughly 7 seconds before deciding on a candidate. This also offers a lot of space for human mistakes, which can occur when processing candidates on a large scale.
- Filtering out applicants
Making data easily accessible and sorted into comparable categories is critical for finding the correct applicants and refocusing on the best ones. The ability to search for and filter out prospects using preset parameters aids in filtering out candidates and speeds up the process. However, this is far more difficult to achieve without resume parsing because the data is unlikely to be homogeneous.
- Examining the state of the recruitment pipeline
Analysing the troves of data on your candidate pipeline is nearly tricky without a software-based approach. How do you know whether your channels to find applicants are as productive as you'd like them to be? How do you tell whether a job posting attracts the wrong candidates? Or if the candidates are too similar or too different? Answers to these issues cannot be sought until data is collected and analysed at scale when resume parsing software is helpful.
What are the advantages of resume parsing?
Resume parsing can assist you in finding the best candidate for an open position.
Advantages of resume parsing:
- Helps save time
Instead of manually examining each CV, resume parsing software may help you filter resumes by automatically looking for essential keywords and qualities.
- Organises resumes
Resume processing software may also save resumes for simple retrieval, keeping them organised and available whenever needed. This enables a hiring manager to remain organised and efficient, which is critical when a job ad draws hundreds or thousands of applicants.
- Maintains precision
Using software to sort resumes ensures you do not overlook any critical application keywords. While manually screening resumes for these terms and credentials can be helpful, resume parsing software can scan several resumes quickly and with a low probability of mistakes.
- Establishes clear standards
Because parsing software emphasises a quality you set, your recruiting team may quickly find and keep the abilities, qualities, and attributes they want in an ideal applicant throughout the hiring process.
- Saves money
Resume parsing software instead of manually scanning resumes can help companies save money. Employees can spend their time more efficiently on tasks that cannot be automated, such as interviewing eligible applicants.
Accepts a variety of formats
Professionals may utilise resume parsing software on various resume formats, giving your candidates greater freedom in writing their resumes and avoiding stringent limits.
With resume parsing, your organisation may filter through hundreds of applications for each job posting, allowing your company to handle many applications and providing hiring managers with more applicants to choose from.