How is it that today we can develop self-driving cars and send them to the streets, but we are still relying on piles and piles of paper, also known as resumes, to screen large numbers of job applicants to connect them to the right job opening in the hope of moving them one step closer to being hired?
The need to match a candidate’s skills to the right job has gained urgency since the Covid-19 pandemic upended the job market in ways no one could have imagined. The pandemic has essentially disrupted the talent supply chain with millions of Americans ready to go back to work while existing HR tech infrastructure has proved to be inefficient and unable to connect job seekers to jobs. This situation has heightened the significance and urgency of screening resumes based on skills, and of finding candidates in possession of those skills.
Bring Disruption Under Control via HR Tech
Here, we are talking about workers that have been mischaracterized in large numbers. Many are looking for new opportunities with skills that are completely transferrable to new and existing opportunities. Is it really possible to match job seeker skills to tens of thousands of new opportunities that are emerging as a result of the disruption in the economy? The answer to this question is a resounding ‘No’, it’s not.’ Why? Because the legacy HR tech was not built for talent discovery and skills matching in large scale.
The time to migrate from resume-based hiring to one of skill-matching is now. This migration requires HR professionals to invest in technology that enables them to fill their open positions based on a candidates’ skills and capabilities.
Switch to Modern Applicant Tracking
Rising application volumes due to the post-pandemic economic recovery have translated into scarcity of skills in certain industries. It also has resulted in piles of open job requisitions, many of them hard-to-fill. Subsequently, the HR and talent acquisition teams sift through scores of resumes and spend countless hours to find the right match. There is pressure being put on HR professionals to immediately fill positions by defaulting back to keyword search resume database technologies of the past 20 years.
This situation has heightened the need for many companies that use Application Tracking Systems (ATS) to integrate a modern applicant tracking mechanism into their talent supply and demand to discover unnoticed talent in their talent network so that they can significantly increase the rate of application processing. Thanks to the power of AI in recruiting, it is now possible to bring significant efficiency to the processes that involve reviewing candidates and assessing qualifications by converting resumes to skills.
Benefits to Internal Mobility
Recruiting from your existing pool of talent is available today and allows your organization to be aware of their enterprise’s transferrable skills. It also contributes to greater employee retention and engagement and boosts employees’ trust in their employer as they see clear paths to advancement within the company. Moreover, internal hires already have solid understanding of company culture and its policies. So what makes internal hiring and mobility a challenge in today’s market? The challenge comes from a lack or absence of data on the makeup of internal skills in a company. This situation has led to a need for insight on what skillset a company needs, and who already have those skills in their current workforce. This is where talent matching technology can bring this much-needed intelligence into view.
How tilr Makes Talent Matching Possible
tilr’s talent intelligence platform utilizes a multi-step algorithm that scans and translates every hiring prospect in your company's talent network into a skills profile. Using similar technologies, tilr does the same for all open jobs within an organization and generates a TMI score for each person. This index indicates the relative strength of the match between the prospect and a job. The score allows tilr to search through hundreds of thousands of prospects in only a few seconds. This enables recruiting professionals in a company to focus on interviewing, rather than combing through hundreds of resumes.