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Cost Cut in Recruitment Process

Skilled manpower is an increasingly precious commodity. Acquiring and retaining high-quality talent is critical to an organization’s success. As the competition for skilled labor intensifies, and the boundaries between the private, public, and non-profit sectors blur, the competition to attract and retain skilled employees is greater than ever.

Business Challenge:

Recruitment is a critical process. It includes sourcing, assessment, interviewing, and new-hire administration and orientation, consuming the time of many dedicated resources in-house. In the wake of growing recruitment requirements, traditional recruitment strategies that employ paper based and manual administrative methods are prohibitively expensive. Ashley Williams, director of partnership products at Angela Mortimer, told a magazine: “The recruitment process can be a costly one for a business involving both tangible and intangible costs affecting the company’s overheads and productivity. It is surprising to find how frequently the difficult to measure intangible costs exceed hard cost expenditure.” For product companies on the learning curve, the time taken for a new recruit to be productive adds to the costs considerably, especially with a 25-30 per cent attrition level. With the onset of the Internet revolution, HR managers are inundated with thousands of resumes. A vast majority of resumes from talented candidates gets locked away in a filing cabinet never to see the light of day. As put by a baffled HR Manager, “With the job market as it is today, when you post a job opportunity in your local newspaper and other resources, you get bombarded with hundreds of cover letters, resumes and phone calls. This leads to a deadlock as moving forward in the overwhelming new hire process is an extremely formidable task. Manual screening of resumes and filtering out the right candidate is a costly, unsustainable, and inefficient process”. As a result most HR departments are looking at automated workflow solutions for managing their recruitment and selection processes.

Solution:

eConn’s Resume Parser, an innovative HR software, is one such automated tool that caters to the growing recruitments of your organization. It streamlines the new hire process and makes it easy to manage contending candidates. eConn’s Resume Parser, an innovative HR software centralizes and stores the applicant information you want to track. When the need arises, you can automatically match applicants with job requirements – hence adding speed and efficiency to your hiring process.

eConn’s Resume Parser, an innovative HR software automatically scans resumes and categorizes each applicant using a large database of skills and industry specific terms. It can read files, resumes, or documents in Text, MS Word, or HTML formats. It supports highly virtuous features like fully automated resume reading, analyzing, sorting, storing, and tracking; thereby providing you with unbiased candidate evaluation procedures, and effective and detailed record-keeping systems.

By automating manual processes, reducing administrative tasks and facilitating collaboration between everyone involved in the recruitment process, including external stakeholders, time to hire is dramatically reduced which results in direct cost savings. eConn’s Resume Parser, an innovative HR software solves all of your recruitment needs in a smart, timely and cost-efficient way. It provides you with a comprehensive range of tailor made services to meet your specific organizational requirements. It addresses the challenges of attracting, selecting and hiring talent in the most effective and cost efficient way for organizations irrespective of size and sector. As put by the CEO of an SME, “I was at a critical cross road; with spiraling recruitment costs and budgetary considerations at one end and vast benefits of eConn’s Resume Parser on the other. I am happy I went for eConn’s Resume Parser. The product has a vey profitable ROI, and its benefits outweigh its costs in no time at all. At last I have achieved the cost cutting in our recruitment process that I have always looked for.

About the Author

eConnosseur offer Software Solutions to our global clients by leveraging process, domain and people management expertise.At econnoisseur we have built our organization around managing risk for our clients through a scalable, cost-effective and predictable delivery platform.

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