Global recruitment technology business, Broadbean Technology, has launched a new auto-matching CV tool to help employers get to the right candidates quicker as application numbers remain high amid rising redundancy numbers.
With the latest data from the Office for National Statistics (ONS) revealing that the increase in UK redundancy rates during the coronavirus pandemic is faster than during the 2008 to 2009 economic downturn, employers are bracing for an uptick in application numbers.
In order to help hiring teams sift through larger numbers of CVs, Broadbean has developed a new tool which uses machine learning (ML) and artificial intelligence (AI) to auto-match applications against the 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 applications.
This integration of ML / AI and automation will reduce the heavy administrative burden on recruitment consultants and talent acquisition managers, freeing up their time to directly engage with the best applicants quickly, before they are lost to the competition.
Commenting on the valuable role of this new tool, Alex Fourlis, Managing Director of Broadbean Technology, said:
“With redundancy numbers increasing, more and more people are competing for available jobs. For hiring teams and staffing companies, this is already resulting in larger application numbers to sift through – an issue that had plagued many recruitment experts before the pandemic even began. However, while there may be more job seekers on the market at the moment, the competition for the best talent is rife.
In order to get to the top applicants quickly, recruiters and talent acquisition teams need to be able to streamline some of the time-consuming processes they face, including CV and application sifting. But they also need to ensure any automation tools they are using are reliable, adaptable and tie in to existing CRM systems. That’s where Broadbean Applicant Ranking tool really shines. The integration of machine learning and artificial intelligence means criteria can be updated and applicants can be ranked based on more than just their previous job titles. A person’s relevance against specific skills can also be assessed based on an application – so even if the perfect candidate is the last person to apply, they will be the first person on a hirer’s priority list.”
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