CHICAGO and ATLANTA, Oct. 10, 2017 /PRNewswire/ -- Sourcing job candidates is one of the most labor-intensive, time-consuming tasks for a company's recruitment team…until now. CareerBuilder announced today that it is reducing the time it takes to source job candidates from hours/days to a matter of minutes with a new platform that is providing an unprecedented level of speed and efficiency to recruiters. The platform, known as CareerBuilder Talent Discovery, is an integral part of the company's expanded - and significantly enhanced – suite of solutions that cover everything employers need from the moment a job requisition opens to the moment a candidate is hired and selecting benefits.
CareerBuilder Talent Discovery is launching at a time when companies are facing an increasingly competitive hiring environment. A low unemployment rate and low labor force participation rate paired with a growing skills gap has created a significant talent deficit with serious implications for how a business will perform. Half of employers have jobs they cannot fill because they cannot find qualified candidates.* Nearly 60 percent of employers have jobs that stay vacant for 12 weeks or longer, and the average cost HR managers say they incur for having extended job vacancies is more than $800,000 annually, according to CareerBuilder research.
"CareerBuilder is focused on more than making recruiters efficient – they're trying to help recruiters become more effective in an increasingly complex hiring climate," said Kyle Lagunas, Research Manager at IDC. "With their new Talent Discovery platform, CareerBuilder combines 20 years of search experience with the power of machine learning technology and predictive analytics to deliver modern capabilities that help recruiters get a step ahead."
CareerBuilder designed Talent Discovery to reduce time to hire and cost per hire and solve some of the biggest problems companies face in acquiring new employees, including:
No. 1 – Unclear or unrealistic expectations from hiring managers
One in five HR managers (21 percent) say that trying to explain to hiring managers why their open positions are not filled yet is one of the top challenges in their day.*
Talent Discovery uses real-time labor market and compensation data to align and calibrate expectations of recruiters and hiring managers and position recruiters as expert consultants. The platform provides an in-depth breakdown of the active supply and demand for a given position and average compensation ranges, indicating how difficult or easy it will be to fill the role and the best places to find the talent. Recruiters can share this information during the intake meeting while taking advantage of a new, first-to-market intake tool that guides them through a series of steps to collect preferred candidate attributes from the hiring manager and present sample resumes. This ensures everyone is on the same page as the recruiter moves forward with finding the right candidates.
No. 2 – Having to search multiple sources for candidates and not always being able to view candidates who applied in the past
The average employer spends around five hours logging in and out of systems to source candidates to fill one job. Of HR managers who have an ATS, 44 percent say they either can't search their ATS for candidates or it is a poor search experience.*
Talent Discovery enables recruiters to see candidates from all CareerBuilder products and their ATS in one place, so all the information is right in front of them. Because Talent Discovery syncs directly with a company's ATS, recruiters can easily search both current and past applicants, and export candidates from CareerBuilder's system to the ATS. Recruiters can also view detailed candidate-level and requisition-level status within the system.
No. 3 – Candidate search results that don't match what is needed
More than one third (36 percent) of HR managers say that one of the biggest time wasters in their day is seeing candidate search results that don't match the context of what they are looking for. The same percentage said one of their biggest time wasters is reaching out to candidates who never reply.*
Leveraging the latest in machine learning, Talent Discovery automatically matches relevant candidates in an employer's private or public databases to their posted jobs. This includes CareerBuilder's 45 million resumes and 150 million candidate profiles. The technology understands the searches recruiters are running and candidates they are viewing, and looks at various signals from job seekers based on their activity to zero in on candidates who are the most likely to respond.
No. 4 – Spending too much time trying to work with the system and ultimately delaying outreach to candidates
One in seven HR managers reported that a major issue with their recruitment technology is that it takes too long to find and engage candidates.*
Talent Discovery helps recruiters get in front of candidates as quickly as possible with a new campaign manager feature. It enables recruiters to easily create and send fully branded, customizable and responsive emails to an entire audience of potential candidates with various calls to action – and with all communications conveniently handled through the system. After emails are sent, recruiters can see, in real-time, which candidates interacted with the email and then view each candidate's resume and contact information within one click so they can follow up.
"CareerBuilder is introducing a new generation of candidate sourcing that is unlike anything on the market," said Matt Ferguson, CEO of CareerBuilder and co-author of The Talent Equation. "We designed Talent Discovery to solve real problems recruiters face every day so they can make better hires much faster. The idea of removing complexity, improving efficiencies and outcomes and providing an easy, intuitive user experience for all parties drives all of our solutions for the candidate and employee lifecycles."
Enhancements to CareerBuilder's Applicant Tracking and Human Capital Solutions
CareerBuilder also announced that it made major enhancements to its applicant tracking offering and expanded its human capital management solution set.
CareerBuilder's ATS is fully integrated with Talent Discovery and CareerBuilder's background screening and talent network solutions. In addition to offering advanced search capabilities to view current and past candidates, CareerBuilder's ATS now enables employers to:
- Use a single sign-on to access all CareerBuilder products through the ATS.
- Create multiple, customized workflows to accommodate the hiring needs for different types of jobs.
- View all email communications between recruiters and candidates in the ATS or through their native email system.
- Easily schedule interviews. The ATS syncs with a recruiter's calendar and automatically books the interview once a candidate selects an open time slot.
- Visualize hiring data through a number of ready-made or customized reports.
On the post-hire side, CareerBuilder's human capital management solutions began with a rich benefits administration tool and ACA compliance offering. The company is now adding a new, robust onboarding offering via a strategic partnership with SilkRoad. Through the partnership, CareerBuilder is providing customized, branded portals and automated workflows to help companies capture the information they require and help new employees hit the ground running. Employers can send welcome communications to engage new hires; and create, store and automate new hire documentation, including W-4 and I-9 forms. The onboarding offering is already integrated into CareerBuilder's employment screening solutions and will soon be integrated into CareerBuilder's ATS.
*Series of CareerBuilder nationwide surveys of more than 200 human resource managers per survey, conducted at different intervals by Harris Poll from September 2016 through June 2017.
CareerBuilder is a global, end-to-end human capital solutions company focused on helping employers find, hire and manage great talent. Combining advertising, software and services, CareerBuilder leads the industry in recruiting solutions, employment screening and human capital management. CareerBuilder is majority-owned by Apollo Global Management (NYSE: APO) and operates in the United States, Canada, Europe and Asia. For more information, visit www.careerbuilder.com.