HR Technologist | Jobvite Introduces Data Science Strategy to Improve Speed and Quality of Talent Acquisition
By Mayuri Chaudhary
Jobvite, the recruiting software, announces the launch of an innovative data science strategy to power its suite of HR products. The initiative will ensure hiring teams are served best-fit candidates while eliminating wasted time for both recruiters and candidates. This strategy incorporates multiple algorithms and sources of data that span company-wide preferences for hiring as well as individual recruiter-level preferences. The solutions, which are designed to work across all positions, recruiter preferences and industries, will be integrated within the product in early 2020.
Talent acquisition teams are faced with unprecedented hiring challenges. With unemployment hovering at record lows and falling as low as 3.5% in October 2019, 67% of recruiters believe they lack skilled and high-quality candidates to meet the needs of their business, according to Jobvite’s Recruiter Nation Survey. Additionally, 52% of recruiters say that competition for skilled talent is intense, per that same survey. These recruiting challenges are driving the need for improved speed and quality of talent acquisition.
In addition to the critical recruiter-focused application, the new algorithms will help candidates get the best potential jobs served to them based on their previous experience, interests and application history. For candidates, this increases their ability to discover and apply for roles that they may not have initially considered.
“With the technology and platforms that exist to make quick applications possible for candidates, recruiters are sorting through mountains of resumes — many of which are not great fits for the role,” said Zach Linder, vice president of analytics and machine learning at Jobvite.