Did you know that recruiters spend 80% of their time on manual tasks, which can significantly slow down the recruitment process and limit their ability to identify and engage with the best candidates? 

So, one solution to this problem is for them to automate their resume parsing process, where resumes are automatically extracted and converted into structured data, which can then be easily stored, searched, and analyzed. 

This technology can significantly reduce the time recruiters spend on manual data entry and resume review and provide many other benefits. 

That being said, in this article, we'll discuss why manually putting candidates’ information into your database is less practical compared to automated resume parsing. Additionally, we’ll highlight the top five benefits of automating your resume parsing process.

Why Manual Data Entry in Recruitment is Becoming Less Practical

Data entry is the process of manually inputting information from a physical or digital document into a computer system or database. In the context of recruitment, this means entering information from a candidate's resume into your ATS.

It is a time-consuming task that requires a high level of accuracy and attention to detail. It can also be prone to human error, as mistakes can easily be made when transcribing information from one format to another.

On the other hand, inputting data for recruitment involves extracting essential information from job applications and resumes and entering it into a system that stores and organizes candidate information.

Data entry can be a time-consuming and resource-intensive task, especially when it comes to handling large volumes of job applications. It requires careful attention to detail and the ability to transcribe information from paper or electronic documents accurately.

There are a few potential drawbacks to using data entry for recruitment. It can be slower and more prone to errors than automated resume parsing, as it relies on a human operator to transcribe the information accurately. It can also be more costly, as it requires the use of human labor.

In general, data entry can be a helpful tool for recruiters and hiring managers. Still, there may be more efficient or cost-effective methods for handling large volumes of job applications. In these cases, automated resume parsing may be a more suitable option.

What is Automated Resume Parsing?

On the other hand, this automated process, also known as CV parsing or resume extraction, automatically extracts information from a resume and stores it in a structured format, such as a spreadsheet or ATS.

Resume parsing tools use natural language processing (NLP) and machine learning algorithms to analyze the text of a resume and identify key information, such as a candidate's name, job title, education, and work experience. 

This information is then automatically extracted and organized into a predefined set of fields, eliminating the need for manual data entry.

YOU MIGHT LIKE: How Applicant Tracking Software Helps Clear the Clutter and Hire Faster

5 Benefits Of Automated Resume Parsing

Automatically extracting and organizing data into your database is the end goal of why you should consider automating the process. Generally, automated resume parsing is a valuable tool for recruiters and hiring managers looking to streamline their job application process. 

With specialized software like Manatal, you can quickly and accurately extract key information from job applications and resumes, saving you time and resources that would otherwise be spent on manual data entry. 

In this section, we'll explore the top five benefits of using automated resume parsing.

Benefit 1: Enhanced Candidate Experience 

The first benefit of automated resume parsing is it can enhance the candidate experience. As a recruiter, you know creating and maintaining a positive experience throughout the hiring process is vital. This can be done by streamlining the application process and providing a more efficient and effective way for candidates to apply for jobs.

One of the ways you can do that is by providing a quick and easy way for candidates to submit their resumes. Job seekers can upload their resumes in a variety of formats, such as Word, PDF, or LinkedIn profiles, and the program will automatically extract and organize those documents. Thanks to automated resume parsing, candidates can save a lot of time by forgoing the need to submit their information manually.

Other than making it easy for candidates to submit their applications, you can enhance their experience by providing real-time feedback on the status of their applications. This can include things such as when their resume was received, when it was reviewed, and the status of their application. This can help keep candidates informed and engaged throughout the process and reduce the number of inquiries about the status of their application.

Benefit 2: Improved Data Accuracy Of Candidates’ Information

After you have received candidates’ applications, the next step is to scan and extract information from their resumes. If you are doing it manually, errors and inconsistencies can happen. 

So in a way, having an automated resume parsing process will improve data accuracy within your database.

Here’s how it can improve accuracy. Using pre-defined templates or rules to extract and structure the information from resumes ensures that the data is consistently formatted and reduces the risk of errors. 

Additionally, the use of natural language processing and machine learning algorithms allows the software to understand and interpret the information on the resumes, which can improve the data extraction accuracy.

Another way it can improve accuracy is by automated profile extraction directly from candidates’ social media accounts, such as LinkedIn. For instance, with Manatal, you can use its LinkedIn Chrome Extension to import applicants’ information directly from their profiles to your database. This way, you can rest assured that all data that you will have is accurate.

Moreover, automating the resume parsing process can improve accuracy by providing the ability to identify and flag any inconsistencies or errors in the resumes. This can include things such as missing information, incorrect formatting, or discrepancies between the resume and online profiles.

Easily create candidate profiles with Manatal’s LinkedIn Chrome Extension.

‍

Benefit 3: Increased Recruitment Process Efficiency

Up until now, you have been able to create a positive candidate experience and improve data accuracy because of automated resume parsing. When you combine these two, it helps you to increase the efficiency of your recruitment process. Here are some ways it can do that.

First, the program can scan and extract information much faster than a human can, reducing the time you would spend doing it manually. This, in turn, allows for a much larger volume of resumes that can be reviewed in a shorter amount of time.

In addition, it ensures that all resumes are processed in the same way, reducing the potential for human error and improving the consistency of the data. On top of that, when you have your data organized and sorted in a database, you will be able to find specific candidates or information. 

The structured data produced by automated resume parsing can be easily searched and sorted, making it easier to find specific candidates or information. This is especially useful when looking for candidates with specific qualifications or experience. Additionally, automated resume parsing can handle unlimited resumes, making it ideal for large recruitment processes.

For example, in Manatal, after you have extracted all relevant candidates’ information, you will be able to do two types of searches - Boolean Searches or Advanced Searches. Below are the examples you can look for in your database.

Combine keywords with operators like “And,” “Not,” and “Or” to make your search results more relevant.

Advanced search is powered by artificial intelligence to source candidates based on multiple criteria, from skills to past experience.

Benefit 4: Enhanced Data Analysis

Data is everything in recruitment because the hiring process itself has been a lot of guesswork; then comes data-driven recruitment. It’s a hiring strategy that uses collected and analyzed information to help you find the right and qualified candidate.

With that in mind, automating the resume parsing process can also enhance data analysis by providing structured and consistent data that can be easily searched, sorted, and analyzed. This is a direct result of the improved accuracy and efficiency, just as we discussed above.

Let’s take a look at how it can do that. Firstly, the software program helps you to analyze data by allowing you to identify patterns and trends in your data. For example, it can identify the most common qualifications or experience among candidates, which can help identify the skills that are most in demand. Additionally, it can be used to identify the sources of the resumes, such as job boards, employee referrals, or social media, which can help to identify the most effective recruitment channels.

Another way automated resume parsing can enhance data analysis is by providing the ability to segment the data by different criteria. 

For example, it can be used to segment the data by job title, location, or years of experience, which can help to identify the most suitable candidates for a specific role or location.

Additionally, you are able to track and measure the performance of the recruitment process over time. This can include things such as the number of resumes received, the number of interviews conducted, and the number of hires made. This can help to identify areas for improvement and track the progress of the recruitment process.

Benefit 5: Save Cost and Reduce Time-To-Hire

Lastly, recruitment is a costly process, and given the current economic climate, you need to attract candidates using your current resources and, if possible, reduce the time-to-hire.

That being said, one way automated resume parsing can be cost-effective is by reducing the need to extract candidates’ information manually. This can save time and reduce the resources required to process resumes, ultimately reducing the recruitment process cost. Additionally, it can reduce the need for additional staff to handle the large volume of resumes, thus reducing labor costs.

Speaking of labor, it’s a well-known fact that screening candidates’ resumes are an uphill task - the amount of time required to identify suitable candidates. 

Thus, with automated resume parsing, you can search and sort applicants' information to quickly identify candidates with the most relevant qualifications and experience. This can reduce the time required to review resumes and ultimately reduce the cost of the recruitment process.

With specialized software like Manatal, you can quickly and accurately extract key information from job applications and resumes, enhancing efficiency, accuracy, and data analysis.

LEARN MORE: 4 Time Management Tips For Recruiters - How to Make the Most of Your Day

PODCAST: Taking Talent Acquisition to The Next Level with Automation, AI, and Technology (With Paul Abercrombie, Director, Talent Acquisition (EMEA & APAC), Klaviyo)

To Conclude

In conclusion, it's clear that automated resume parsing offers a number of benefits over traditional data entry for handling job applications. 

With its increased efficiency, improved accuracy, enhanced candidate experience, enhanced data analysis, and cost-effectiveness, it's no wonder that more and more HR professionals are turning to automated resume parsing to streamline their recruitment process. 

If you want to stay ahead of the game and take advantage of the latest HR technologies, Manatal is a great choice. 

‍With its AI recruitment software and SaaS cloud-based platform, you can access top-notch ATS and CRM tools to support your recruitment efforts. Give Manatal a try with our 14-day Free Trial and see how it can help you prepare for 2023 and beyond.