resume, talent and big-data: hr trilogy
TRANSCRIPT
Resume, Talent and Big-Data: HR Trilogy
Undoubtedly Talent is the key differentiator for companies that are expanding horizons and exploring global shores. There is a tug-of-war going between every company now-nthen to attract, appoint and retain the best of staff. So how do companies strive for talent amidst recruitment, engage-ment and branding thing? Is it the solution, the man behind show or coalesce of both. Really difficult to ponder. Well we can definitely make a think-map with aid of analytics built on big data (Specific vs. General) that can predict future scenarios and help in acquisition of right talent for company.
Resume is the building block of Recruitment and still the first point of contact between employer and candidate at numerous places. The data cap-turing should start from here itself. The software which helps us do this is Resume Parser. It extracts everything from your resume accurately into different sections on form and fields. Capable parser can read many languages, handle multiple formats and return HR-XML back to the database. Being on cloud and available on SaaS makes it perfect fit for any business type; Small, Medium or Big. Let’s discuss usage of one our clients, Greg, a recruiter by profession whom we helped out by Analytics.
Now when we normalized the data based on usage above, we were able to provide insights and build correlation between multiple factors as stated. Few of them are:
1. Every 3rd resume that Tony parsed was of sales.2. Out of all resumes, Finance resumes were highly demanded.3. Out of all resumes, 44% of candidates knew more than 4 languages.4. He stocks maximum resumes of ABC Corporation.5. Avg. time of staying at any company for candidate was 3 years.
Based on the above stats, Tony was able to make out quick assessments on his style of recruiting. He started implementing new hiring strategy in place. He picked more of those candidates whose 3rd year was approaching closer. He also knew who is open to relocate to global positions based on their past positions and knew multiple languages. Very neatly he can see on his dashboard how many resumes he holds for Mid-level, C level, Fresher’s and Senior level openings. As parser gave him the social profiles link, validation of info on resumes with info on social media was done instantaneously. The ultimate impact it made was to Talent acquisition. More was done in really quicktime. He knew what to do and when to do; that’s the beauty of Big-Data in acquiring key talent for the company. Predictive analysis can play a major role in figuring out who is leaving the company and what may be his choices. Attrition is the hot favorite amongst Analytics Company like Gild and many other that delivers value based on insights. Even Beth Axelrod VP of HR, EBay Inc admits the endless possibilities of big data in his book the war of talent. At the moment it is apt to say employ-ers are willing to spend more but on people who will stay longer with them.
Total Resume Parsed in a Month- 10000
Resume in Different language- 229
Popular formats- Doc 60%, Pdf-15%, Misc- 25%
Social Profiles discoverable- 4000
Incomplete Resumes- 26%
Geography- USA 54%, UK 37%, Asia 9%
Marketing 29%, Sales 31%, IT 18%, Finance 12%,
Misc 10%
Citing some use-cases from companies like, Xerox, the one who cut down its attrition rates by 20% is just discovering gold. Companies also use social media aggressively to explore more information about the candidate. Data aggregated from all the popular sources are then worked upon. Gaming companies are also trying their hands on big data by developing games that evaluate applicant’s creativity, presence of mind and coordina-tion with team. Once the data with specific objectives are in place, all you need, is algorithms that can deduce deliverables out of them. Big data still remains a mystery to be simplified. Solutions that further simplify existing process and forecast trends based on data, usage and stats can only help companies scale by acquiring right talent. Rchilli thinking on the same lines is still in process of giving valuable insights to its customers and exploit-ing its current resources (CV Automation) to its fullest. We welcome interested companies and partners who would like to implement Big Data in CV automation space and adopt techniques to get best talent from its source i.e. Resume.