- Tech Scene Trends
smart.cv: Saving the Recruiting World Precious Time
Time is scarce, always.
The phone is ringing, Google calendar notifies you of your upcoming client meeting, then there is that lunch appointment with a candidate later and besides all this you have to keep your monthly target in mind–the life of a recruitment consultant is certainly challenging, at times stressful. But wait, there’s more!
Administrative tasks can eat away another crucial part of your day. Particularly time-consuming for recruitment agencies is reformatting candidate resumes, a crucial exercise that comes before every single placement. For the readers who haven’t worked as a recruiter yet, let me explain what CV reformatting is. Recruiters recommend numerous candidates to their clients for a given job offer and send out the CVs of suitable candidates. As you can imagine, these resumes come in countless different formats. In order to make them easier to read and compare for their clients, recruiting agencies reformat every resume and bring it into a single, uniform format. This process can take up to 30 minutes for a single CV (resumes and CVs received in PDF format actually have to be rewritten). Depending on how many candidates you register this task can eat away hours, potentially days of your working time. And the question is, is this time well spent?
Focus on the important 20%
According to Richard Koch’s famous 80/20 Principle, only 20% of our activities contribute to 80% of our success. For recruiters this core 20% is mostly related to building personal candidate and client relationships, increasing professional knowledge or attending industry events. Administrative work, such as reformatting CVs, on the other hand is a big time consumer that doesn’t directly contribute to success but keeps consultants from fully focusing on their core activities.
Until now, recruiting companies really only had those two choices: let recruiters spend substantial amounts of their time reformatting resumes or hire extra administrative staff to handle these tasks–in both cases the financial and opportunity costs of resume reformatting were substantial. For smaller, boutique agencies in particular this could create a dilemma: do we have enough resumes to justify the costs of creating a new position? Or is the amount still small enough to go on as before and put extra workload on the existing staff?
AI is the Game Changer
Wahl and Case, a mid-sized recruitment agency based in Tokyo and San Francisco faced a similar situation last year. In search of relief from increasing pressure on the small administrative team that was facing ever-greater mounds of resumes, the company decided to close this gap. Now, Wahl and Case is developing a new, AI-based solution to disrupt the recruitment industry. The product, called smart.cv, is in its final development phase and will be ready for launch this summer.
What is smart.cv?
At the core of smart.cv is an advanced AI algorithm, capable of reading and understanding documents, more specifically candidate resumes in whatever format they might come. What’s more the program automatically reformats the CVs into a uniform format that is ready to be send out to clients directly. What is the advantage of using AI instead of a conventional, script-based software? Well, just like a human brain, smart.cv’s AI is always learning and automatically evolving and improving, which ultimately will make it as efficient and accurate as we are. As of now, the algorithm is averaging 80% accuracy. Within weeks it will be at more than 90%, and will continue improving from there. We want smart.cv to be just as reliable as a human being, able to do all the work of resume formatting automatically.
How does it work?
Reformatting with smart.cv takes two simple steps in just a fraction of the time:
- Upload the resume file to the smart.cv web interface and click the “reformat” button.
- Receive the reformatted resume as email automatically sent to you by smart.cv and forward it to your clients right away.
The pricing model is based on the amount of resumes with package discount options that make smart.cv a suitable solution for recruitment agencies of any size.
What’s in for you?
Most of us are struggling to find enough time for getting our most important tasks done and balancing private and professional life. Efficiency and delegating tasks that don’t necessarily need our attention are the key to reaching this goal. Focus on the 20% that make a difference for your life and let smart.cv deal with the other 80%.