Anyone who has applied for a job online is likely familiar with a common — and frustrating — aspect of the process. First, you upload your resume into the applicant tracking system (ATS). Then, a few screens later, you find yourself having to fill in the same information manually.
This step is often so time-consuming that it causes applicants to abandon the process altogether. In fact, some estimates put the percentage of candidates who click “Apply” but never make it to “Submit” as high as 92%. According to CareerBuilder, one of the main reasons why candidates don’t follow through is an overly complex and/or lengthy application process.
For companies, this means losing out on highly qualified talent and struggling to fill key positions. It can even lead to less-than-favorable impressions of a brand as an employer. However, organizations can significantly reduce friction in the application process and by extension, candidate drop off by using a resume parser. In this post, we’ll discuss the basics and benefits of these tools, then talk a little bit about how Skuid’s AI-driven resume parser can work within an ATS to streamline the application process.
The basics of resume parsers
A resume parser is a tool that takes the information in a single resume document (PDF, doc, docx, etc.) and breaks it up (parses) into structured data fields that can then be stored, analyzed, and manipulated. If you’ve ever uploaded your resume into an ATS, then discovered that the same data had already been imported into the “Enter your work history” step, you’ve seen what a resume parser can do. Most likely, you were delighted that you didn’t have to enter your data again!
Today’s most effective resume parsers run on AI. Deep learning, for example, is an AI methodology that simulates how the human brain categorizes data. Resume parsers that use AI-based algorithms deliver faster results with greater accuracy, and can even learn and improve over time.
The benefits of an AI-powered resume parser
With an AI-powered parser, candidates can fill out their applications almost instantly. All they need to do is upload their resume, and the parser will quickly and accurately populate all of the relevant fields automatically. The tool extracts candidate data from the resume document and saves it in predefined categories like name, email, most recent employer, contact number, etc.
As a result, a resume parser that runs on AI transforms data entry into data validation. Instead of going back and forth, double-checking the resume parser’s work, and correcting any mistakes or blank fields, candidates can simply give the parsed data a once-over and click submit. With the power of AI behind them, resume parsers become incredibly accurate, efficient tools for eliminating data entry. They act as a force multiplier for the streamlined application workflows that many ATS platforms already do well.
For candidates, this means shorter application times, less frustration and friction, and greater overall satisfaction with the process. It can also mean a much lower chance of experiencing bias or hiring discrimination. AI-driven resume parsers can automatically exclude fields that can lead to bias and simply won’t fetch that potentially problematic data.
All about Skuid’s AI-powered resume parser
At Skuid, we’re always looking for ways to improve candidate experiences. That’s why our platform now includes an AI-powered resume parser!
Our parser integrates seamlessly with most existing ATS software, including the popular Workday ATS. Currently, it’s not compatible with every ATS we have an integration with, but we are working toward that goal. Our tool can parse resumes uploaded in just about any format, including PDF, doc, docx, HTML, and RTF, and features an extensive library of taxonomies to help identify and categorize candidate skills.
Its cutting-edge parsing capabilities are powered by deep learning algorithms for improved data extraction and smart identification of resume information for better search results. In fact, it can extract complete information from resumes across 140+ data fields. And it can do it fast, with an average speed of 300ms.
If your company is hiring internationally, Skuid’s resume parser can be a huge differentiator for your application process and employer reputation, with multilingual resume/CV parsing capabilities that automatically recognize regions and languages. Our tool was also built with reducing discrimination in mind, helping you facilitate unbiased recruitment across your organization.
Take your ATS to the next level
Want to transform your candidate experience? Skuid can help you create an apply flow that fits your brand, your hiring needs, and your applicants’ high expectations. By combining your Workday ATS with Skuid’s experience layer, not only will you make applying easier for potential candidates, you’ll also simplify the process of gathering, storage, and analyzing candidate data for your recruitment team. And the best part? Our AI-powered resume parser comes with it. To learn more about Skuid facilitates better hiring, request a custom demo.