What is The Importance of Resume Parsing in The Hiring Process?
With traditional resume screening methods continuously being thrown out of the window by advanced technologies, resume parsing has become the talk of the town. Credited to their user-friendly interface and unique approach of accumulating and manipulating candidate info, resume parsers sure emerge as the absolute winner.
But are they really that beneficial or another burning example of an over-hyped software solution with no real-life benefits? Let’s have a detailed look at the platform before we decide on their real-life usage.
What is a Resume Parser?
As the name suggests, resume parser is an application-based software that is used to sort through multiple resumes at a time. The in-built parsing algorithms automatically pick out essential information, categorizing them into respective categories and storing them in a single structured format. Similarly, each resume or candidate profile is then allotted with a unique identity for ease of access during the screening process.
Thanks to their advanced set-up, every information is either saved in separate folders or in the cloud. This in turn, helps lend a big hand in reducing paper wastage in offices and recruiting companies.
What are the functions of a resume parser in screening candidates?
The general working principle of almost every resume parsing tools is as follows:
Document upload and storage
Depending upon the set commands, resume parsing tools initiate their working by accumulating a list of the most suitable candidate profiles from various sources. The information is collected and then automatically uploaded into the software’s memory, without needing any manual interference. A separate identity is assigned to each of the electronic documents before further processing.
Data extraction and rearrangement
Once done with the initial process, the parsing tool then thoroughly scans through these documents. Essential data is recorded and then rearranged in a single resume structured format prior to their forwarding to screening process. While such tools could only scan and extract data from text files some years ago, the constant advancement in technologies now allows data extraction from various resume forms. These include video screening, audio screening, video texting, etc.
In the third and the last process, the resume parsing software is used to pick out the most eligible candidate profiles.The search is made by assigning specific keywords and then searching based upon these terms. Recruiters can also perform the search by selecting job titles, required work experience in years, or mandatory qualification of the candidates through the platform.
Now that we know how a resume parsing tool works, here are some points that make opting for the software a great cost-effective option.
Why should recruiters use the Resume Parsing tool in Candidate Screening? Benefits of Resume Parsing
Systematic candidate profile parsing
While going through a candidate’s resume is no rocket science, it surely does end up taking a lot of time. Now imagine doing it 250 times a day on an average with a consistent possibility of even more resume counts. This is not only a daunting task but also leads to higher chances of parsing faults when done traditionally, using pen and paper.
However, with resume parsing tools, this possibility is significantly reducible. Using their in-built customizable algorithms, ithms, recruiters can set up a constant parsing format and eligibility parameters. Thus, everytime a new resume is uploaded, the software automatically converts it into a single format, preventing the need to go through them manually.
Enhanced work productivity
Also thanks to their advanced platform, the parsers also aid tremendously in ensuring greater work productivity. Without having to engulf themselves within bundles of paperwork, recruiters can simply set a group of keywords in the parser. Even more, nowadays advanced parsers also allow users to set more than one criteria. So, individuals can select categories including experience, education, contact details, etc. This in turn allows the software to analyze the best profiles in no time.
As a result, professionals are able to make time for other essential tasks, without having to worry about hiring a deficit of manpower.
Feature job applications
Having a parsing tool is not only essential for the company recruiters, but also ensures job listings are done more efficiently. With the parsing tool, candidates can check for the right form of resume creation, and hence submit data that is more relevant to the job requirements. Thus, rather than wasting time for manual correction of the resumes, recruiters can work better for finding the best talents during the final screening process.
Similarly, some advanced softwares also allows the creation of video job descriptions, which might work in the favor of company revenue.
Lesser parsing errors and proper comparison
Finally, as the whole process is intensified from many days to a few hours or even seconds, it also helps in faster and efficient candidate data entry. The data is automatically uploaded, stored, and converted into a single format, making it easier to access, as well as compare. Thanks to all these procedures being done through the online platform, the efficiency rate also spikes by several folds, leaving only a minor chance of faults.
Once completed with all these steps, resume parsers can then swiftly go through all selected profiles, and pick the most suitable ones. This is definitely better than having to go through every candidate data individually.
What is the role of Artificial Intelligence (AI) in Resume Parsing?
Undoubtedly, the concept of Artificial Intelligence, has been a great discovery as well as boon for all sectors. Through in-built, complicated algorithms, machines are able to learn essential working procedures, like that in the case of next gen resume parsing tools, such as Ducknowl, Ideal and Recruiterbox.
Similar to many AI-powered parsing tools, the software uses NLP (Natural Language Processing) to go through different resume types, be it textual, video, or audio resumes. Every information that is scanned through the app is also stored centrally, aiding parsers get access to them from anywhere and at any time. AI- resume parsing tools are also better capable of keeping the documents secured and safely tucked in the cloud for elongated periods of time. Thus, there are lesser risks of hacking or spying.
FAQs on Resume Parsing in Candidate Screening
What is parsing a document?
The term refers to the breakdown of sentences into computer or app-understandable data through the use of specific keywords. During this process, the app scans the whole document while simultaneously recording the trigger words. These words are then converted into a single structurable format making the work of recruiters even more seamless.
Do resume parsers really work?
Yes, resume parsing tools do work. Although some cheap tools might not offer you with all required features for your job, investing in advanced versions of these softwares will never disappoint you. They are specifically designed to cater to a variety of tasks in a single go, and hence it is highly essential to choose only the best parsing software from the available models.
Are all resume parsing tools expensive?
Unlike common misconceptions, resume parsing softwares don’t incur much expenses. Interested individuals are offered budget-friendly options to choose from, where they can either choose from the Free, Standard, or Premium versions, based upon their task needs. Furthermore, many reputable companies also provide their customers with additional benefits, including a limited free trial period before actually registering with them.
How to create parsable resumes?
The first golden rule to designing your own parsable resume is to always ‘Keep it simple and use pay attention to defined skill sets’. As almost all resume parsers have issues with reading data from tables and columns, keeping the document in a single prescribed format is highly necessary. Similarly, the whole document must be in a single font design with no WordArt or complicated fonts anywhere.
Although there are loads of parsing tools to choose from, Ducknowl and Ideal have been constantly rising as the number one resume parsing software. Arriving with many unique attributes, the parser is capable of recording data from both textual, video, as well as audio resumes, making it the finest of all. Additionally, the software also enables recruiters to better design their job descriptions through video posting. The highly customizable user-friendly interface also matches up with every company’s demands. So, if interested, visit their website today!