A resume parser is a software program used for parsing resumes and sorting them based upon certain criteria. Many Applicant Tracking Systems (ATS) and Talent Assessment Tools have resume parsers pre-installed.
It helps to analyze a CV or data present in a cover letter and turns it into structured data. This data is much more convenient to analyze, handle and store, thereby speeding up the entire hiring process but helping in providing a stellar candidate experience.
On a day-to-day basis, recruiters receive hundreds of resumes sent across the internet. It becomes cumbersome if one has to import and segregate data from each CV manually. This is where resume parsing software makes the entire job seem like a piece of cake.
As a result, resume parsing should be high on your priority list when analyzing and selecting the proper people. But, in comparison to traditional, hands-on candidate screening, what are the practical advantages of resume parsing? How can you properly filter resume data to employ the appropriate people and streamline your HR workflow?
Resume parsing software: how does it work?
A resume parser is a program that compiles or interprets texts from documents and finds meaningful information from them. The program automatically segregates information into different fields or parameters to help you identify relevant data from the resume. Recruiters can set information criteria to extract, such as candidates’ names, contact details, skills, work experience, educational qualifications, etc.
Main reasons why recruiters must use a resume parser
1. Saves your time
We won’t be exaggerating if we say that a resume parser could do a task in minutes, which humans might take hours to do manually. It allows faster and accurate processing of candidate data regardless of its complexity. The hiring parameters are different for every job post and industry.
Some companies may focus on language skills, while some may prefer hard skills over soft skills. While shortlisting, recruiters have to categorize different parameters into data points and subsections and rank them accordingly. Such tasks make manual parsing even more critical as it takes a large chunk of time and valuable working hours of the HR department. If you delegate the data entry tasks to interns, you still have a high risk of human errors. However, using an AI-based resume parser will significantly accelerate your data entry activities, leaving you more room for focusing on other crucial tasks.
2. Efficient data entry & reduced margin of error
It does not matter how experienced or focused you are; you never know when you can go wrong while parsing important data from your resume. It usually happens while dealing with hundreds of resumes within a short time. This is where an AI-based data parsing software comes in handy by assisting you in lessening the margin of errors.
The extraordinary parsing speed of this tool can help you deliver perfect hiring and onboarding experience. A resume parser is mostly needed in a company where candidates list programming languages, acronyms, and statistical data in their CVs.
Manually parsing these numerical and complex data is extremely laborious and can lead to several mistakes.
With a resume parsing tool at hand, recruiters can check the accuracy of data entries simply by inserting the resumes in the tool.
3. You can have all candidate data in one place
Resume parsers can easily be integrated into your company ATS (applicant tracking system), enabling you to pull specific information anytime and anywhere.
This is highly beneficial for organizations hiring and managing a large number of employees. When you have hundreds of resumes to vet and process in a single day, it is quite difficult for recruiters to manage that information efficiently. As a result, information often gets lost or misplaced.
A resume parser is a sophisticated tool that can store thousands of employee resumes in a single location and make it easy for you to retrieve any specific data just by a single key phrase or click.
4. Maintains a standard format
The format, template, fonts, characters of each resume might differ from others. Some resumes may be of pdf format, while some are docs or texts. With such variations, it becomes difficult for HR to parse them by hand. A resume parsing tool can eliminate those problems by standardizing all data in a specific format, text, and information. As a result, you can retrieve relevant data with a single click. You need to enter all resumes into the applicant, converting them into a standard format.
5. Engage with a Resume Parser
When you utilize the resume parser, you’ll notice the several advantages we outlined before in practice. Recruiters can pay closer attention to potential flaws, incomplete applications, or discrepancies in the candidate pool. To extract relevant candidate data and organize it into an organized fashion, use your resume parser. THANKS TO THE RESUME PARSER.
6. Select and Onboard Candidates
Once your parser has gone through the resumes list, you can use the tool to make an informed decision on which candidates to hire. As an HR specialist, you can immensely contribute to the hiring process by applying critical thinking to the results parsed by the platform. While the AI algorithm will indeed do an excellent job on its own, you can make the final judgments yourself. Resumes that currently don’t fulfill your requirements can be saved for further analysis or additional selection.
In this day and age of high-speed data processing and short attention spans, having a reliable hiring tool might be critical to your company’s long-term success. Even if your organization lacks a specialized HR specialist, a professional resume parser can assist you. Check out the list of features to see how you may use it to your advantage.
Although some organizations may think of it as an additional expense, you can get great ROI with your investment by saving time and making better decisions. Resume parsing technology is being adopted more in high-volume job situations. Companies like Ducknowl and Recruitee use sophisticated AI-based resume parsing technology, bringing speed, accuracy, and efficiency in the recruitment industry.