With increasing competition for talent improving candidate redeployment rates is an important goal for staffing agencies that deal with flex employment. However, knowledge about candidate availability and job fit are often missing in their systems. With this year’s acquisition of Akyla, Textkernel will be able to close this knowledge gap. We explain why Textkernel acquired Akyla and what steps you can expect from the cooperation in the future.
In June 2022, Textkernel acquired the software company Akyla, a Dutch company considered a true best-of-breed solutions provider offering mid-office platform solutions for automated redeployment, efficient management of flex workers, time management and document processing.
Staffing organizations are currently experiencing a tough candidate shortage in the labor market. This situation will become more critical in the coming years due to workforce demographic changes in most western societies. In this situation, recruitment is becoming more and more expensive and time intensive. Candidates are precious and staffing agencies will want to have a high redeployment rate instead of continuing a post-and-pray methodology followed by time intensive recruitment processes. However, information about candidate availability – crucial for a successful redeployment – is often missing in front office systems where recruitment takes place.
The right data for smart business decisions
Textkernel’s acquisition of Akyla will add to our suite of solutions enabling staffing agencies to turn data into knowledge for smarter business decisions. As a mid office software solution, Akyla’s solutions assist customers in administrative tasks like onboarding, hourly registration, time interpretation, digital signing or vendor management. The Akyla solution connects front and back office systems and has direct access to both candidates and employers via a mobile app. They know when an assignment is ending and a candidate will become available.
Based on this data, customers using Akyla and Textkernel will benefit from matching results that are more tailored to their processes and the availability of candidates. They will be able to offer new opportunities to candidates at the right time, increase retention and avoid repeating the cost and time intensive recruitment, interviewing, selection and onboarding processes.
Combining the best matching engine and the best mid office system will positively impact the candidate engagement as well as the candidate experience and eventually result in lower turnover, better fill rates, lower cost-per-hire, lower time-to-hire. And apart from the staffing companies, the candidates will also benefit from a better redeployment: less financial risk and uncertainty which will result in a better image for staffing companies.
The end of 2022 is fast approaching. Emerging trends in candidate expectations, competitive job advertising, and data-driven capabilities have created more challenges and opportunities for HR professionals than ever before. We understand that to stay abreast with developments in the market our customers need to make quick informed decisions, and that our products need to make talent and labor market data meaningful and actionable. This requires continuous product investments and enhancements. We are excited to close off 2022 by sharing the highlights of Textkernel’s recent and upcoming product enhancements, helping you to better understand, connect and analyze people and jobs.
Understand – Capture and maintain an up-to-date view of the talent landscape
It all starts with…processing and understanding unstructured candidate information and documentation into structured data that can be used to filter, search and rank candidates information. Our Resume/ CV parser tool enables you to automate candidate data processing for a faster, more efficient and more accurate process. What’s new…?
- We now support a whopping 25 languages for data extraction at a high accuracy level. Our most recent language additions include Chinese and Hebrew
- We’ve made significant increases to parsing accuracy; the latest including resumes from Romania, Colombia, Brazil and Portugal. See our testing results compared to our competitors.
- Instead of extracting one big list of skills, you will now see extracted skills associated with the work history, enhancing the relevance of the skills listed.
- All customers now benefit from 80% more skills extracted, up to 20% reduction of noise, automatic future updates and skill normalization due to the upgrade to our skills parsing framework version 2.
Data on people and jobs tends to be messy: skills and job titles can be worded in different ways, and information might be locked in different sources and/or formats. Textkernel’s Data Enrichment APIs help standardizeand enrich job and skill data when parsing a Resume/Job. What’s new…?
- We’ve added 9 more new languages to the skills taxonomy!
- Supporting you to be compliant with local regulations, the professions taxonomy has been upgraded to support O*NET 2019 and local taxonomies in Germany, the UK and The Netherlands.
Connect – Make data actionable to match people and jobs better
Our Search! & Match! tools save you hours in sourcing and ranking the right candidates to jobs and visa versa. Begin leveraging the value of your internal database and/or run a single search against multiple external sources. With a single click, an automated search can be created, based on a profile matched against internal jobs or matched against direct employer jobs on the market through Jobfeed. What’s new…?:
- Finding similar candidates (candidate-to-candidate matching) has been refreshed and improved, offering you yet another way of efficiently connecting people and jobs better.
- Matching is even more accurate with a focus on specific aspects of the candidate. In our dynamic templates it is now possible to generate preferred queries. For instance, education is very important for recent graduates, while it is less important when looking for very experienced candidates.
- Bulk actions on a large amount of search or match results will soon be much easier to perform!
- ‘Source’ is our new, stand alone and simplified product for searching across multiple external candidate databases
- With private data analytics, it’s easy to compare your private data against the market demand. Now you can load data from your Textkernel Search index with enriched and normalized data from our taxonomies into your data warehouse to analyze easier.
- Coming up, web profiles can soon be imported with a single click using our browser extension.
- To save you even more time, we will soon launch a new Automation API which can auto-match candidates and jobs without you even asking for it!
Analyze – Expose data to strategize at an individual and organizational level
The only way to stay ahead of competition in tight markets is to respond faster. Jobfeed provides realtime market insights which enable you to identify growth opportunities, differentiate yourself from competition, and dramatically save time and effort. We power you with excellent market expertise, competitor intel, and visibility into rapidly changing trends.
- We continuously increase our data accuracy, latest accuracy updates include salaries and locations.
- Jobfeed is now available for 11 countries with our latest addition, Switzerland.
- We are not done with adding countries, coming up: Australia, New Zealand and Japan.
- Improved candidate experience with the Apply URL added to the data model.
- Better display and increased user friendliness with our markdown formatting
- New and improved Jobfeed user interface will be ready soon!
We work with the best in the business
Over a hundred partners across the globe offer Textkernel’s state-of-the-art AI-powered technology, from local champions to big international players like Salesforce, Bullhorn, SAP, Cornerstone, and Oracle. And we’re constantly growing our ecosystem. We are proud to share some significant enhancements in our Salesforce Connector;
- Implemented support so you can easily source and import external candidates into Salesforce
- Widgets to display best matches inside Salesforce right alongside the candidate or vacancy
- You can now easily import Jobfeed leads into Salesforce
We sincerely hope you share our enthusiasm! Feeling motivated and inspired to create your talent acquisition strategy for the year ahead? Read through our 4 recommendations for nailing your 2023 plan in between cherished moments with your loved ones this holiday season.
If you need assistance along the way, be sure to reach out via email at firstname.lastname@example.org for a helping hand. Cheers to your success in 2023 and beyond!
We are excited to share with you an overview of Textkernel’s latest and upcoming updates for our CV parsing solution Extract! and our Skills API.
CV parsing in Hebrew – and very soon in Traditional Chinese and Arabic
We’ve just added our 24th CV parsing language: Hebrew! Being written from right to left, it’s surely one of the more challenging languages. Nevertheless, we’ve managed to achieve a very high level of accuracy, similar to our best-performing languages. Customers who are expecting to parse Hebrew CVs can contact their account manager in order to activate it in their account.
And that’s not all: the next two languages are already in the making. In Q3 2022, we’re expecting to add Traditional Chinese and Arabic.
Improvements for Portuguese CV Parsing and other languages
The Portuguese CV parser was upgraded with our Deep Learning Technology. This resulted in major accuracy improvements of 40 to 80%, depending on the field. We have also improved the recognition of locations (addresses and regions) for CVs from Colombia and Brazil. And as always, we’ve made many smaller improvements to the other parsing languages. Of course, users of the Extract API will automatically benefit from all of these improvements.
New languages in our Skills Taxonomy
Not only our CV parsing product keeps expanding. Our Skills Taxonomy is also growing internationally. It also supports Hebrew now, and in Q3 2022 we’re expecting support for Arabic, Traditional Chinese, Portuguese and Japanese. More languages will follow shortly after.
What is the Skills Taxonomy? The Skills Taxonomy helps understanding the skills of your candidates and employees to make them better searchable and analyzable. The taxonomy is one of the core components of the Data Enrichment APIs and also embedded within our CV parser.
Do you want to learn more about our products or schedule a demo with one of our colleagues, please contact us!
For many companies, career portals form the centre of their recruiting efforts. But often the candidate’s journey ends shortly after it begins due to a poor candidate experience fraught with long forms, manual data entry and slow turnaround times.
Companies looking to transform their candidate experience and boost recruiter efficiency should consider AI-powered matching to connect candidates with recruiters quicker and more accurately than ever before.
Candidate Experience – your top priority
Candidates are used to exceptional user experiences in almost every aspect of their lives, and expect career portals to maintain the same high standard. If Google gives them accurate, relevant answers to their questions why should they expect any less from your site?
And, once they’ve found the right job(s), they want to follow a seamless application process with as little data entry as possible. After all, long forms scare off good candidates, and no one appreciates the duplicate work of filling out their personal and employment history details on your career portal when they’re already found on the resume.
Efficient recruiting helps maximize your candidate pipeline
Recruiters can find handling thousands of applications overwhelming, particularly if they work at a company considered a “dream employer” where applications keep coming and the pipeline never dries up. And that doesn’t begin to include the overhead from unsolicited resumes that come through email, LinkedIn messages and other channels.
So, how do recruiters rapidly identify the all-star candidate profiles that perfectly match priority vacancies and get them in touch with hiring managers before the competition?
Automatically match resumes directly on your career portal to connect top candidates with recruiters faster
Resume Matching can be integrated directly into the front end of your career portal with little to no impact on your tech stack and brings a host of benefits. Candidates can upload their resumes to the portal and automatically match their data with open positions. The result: candidates receive a shortlist of the best matching roles in just a few clicks, and can clearly see why the system suggests them as a good fit.
And this automated resume matching tool isn’t based on simple keywords either – it’s powered by the most accurate AI-powered matching solution available – trusted by thousands of Corporates and Staffing/Recruiting agencies across the globe.
Improve the quality of your pipeline and improve time-to-hire
Recruiters also benefit by receiving more relevant applications for their roles. By suggesting roles to candidates and highlighting which of those roles would be a great match for them, you reduced the number of open or unsolicited applications coming through. This boosts pipeline quality and makes it easier to identify talent that should be connected with hiring managers as a priority.
And it doesn’t need to stop there, companies like ARTS use automated resume parsing and matching to reduce manual recruiter work by 50%.
While Colas increased its candidate conversion rate by 440%!
In fact, there is an entire Ecosystem of Human Capital Management that can benefit from accurate and efficient matching of people and jobs:
How AI is changing recruitment
The French newspaper “Le Monde” analyses in an insightful article how AI technology is changing the way companies search for personnel, noting that it will make the decisive difference in the future.
Yves Loiseau, General Manager at Textkernel, and other experts from the AI and Recruitment industry shared their insight on the state of AI today, how it can support companies recruiting in a saturated labor market, and why human recruiters will always be making the final hiring decisions.
Want to learn more about what’s the AI in our recruitment technology? Watch the AI Webinar by our AI expert Kasper Kok and Vincent Slot here!