With competition for top talent reaching all-time-highs during the second half of 2021, global recruitment technology business, Broadbean Technology, has launched an auto-matching CV tool to help speed up the recruitment process.
With the latest data from the Office for National Statistics (ONS) revealing that the number of job vacancies have continued to rise to a record-breaking figure of 1,172,000, employers and recruiters are clearly battling for top talent – and speed is of the essence in this market.
In order to help hiring teams efficiently sort through and respond to applications, Broadbean has developed a tool that uses machine learning (ML) and artificial intelligence (AI) to auto-match applications against job criteria, allowing hiring managers and recruiters to sort candidates by match strength. Using a visual indicator from Broadbean’s Applicant Ranking tool, recruitment teams can clearly see which applications most strongly match against the specific criteria, without the need to manually sort through documents.
Commenting on the valuable role of this tool in the current market, Alex Fourlis, Managing Director of Broadbean Technology, said:
“The concept of our Applicant Ranking tool originated from a demand from one of our largest clients. The business was struggling with too many applications for high-in-demand roles, with the firm’s recruiters struggling to stay on top of and sift through vast numbers of CVs. This was, of course, during the height of the pandemic, when those on long-term furlough were looking for alternative careers and those who had been displaced due to Covid were in need of work, which initially drove application numbers up. Now, though, applications are down, but the need for this quicker hiring process remains just as important.”
“Where employers and recruiters are getting the right applications, the last thing they need is for these individuals to disappear into a black hole of administrative tasks. Instead they need instant engagement to prevent them from being snapped up elsewhere – and that’s where the right technology can be pivotal.”
“Our Applicant Ranking technology has already proven to be successful in saving recruiter’s time, with one client saving up to 11 hours when reviewing applicants for one role. The firm in question also reported a 7% increase in hires, as the best candidates were engaged with quickly, preventing them from looking elsewhere.”