Many job seekers have long suspected their online employment applications disappear into a black hole, never to be seen again. According to the Wall St Journal their fears may not be far off the mark, as more companies rely on technology to winnow out less-qualified candidates. Recruiters and hiring managers are overwhelmed by the volume of résumés pouring in, thanks to the weak job market and new tools that let applicants apply for a job with as little as one mouse click. The professional networking website LinkedIn recently introduced an "apply now" button on its job postings that sends the data in a job seeker's profile directly to a potential employer.
To cut through the clutter, many large and midsize companies have turned to applicant-tracking systems to search résumés for the right skills and experience. The systems, which can cost from $5,000 to millions of dollars, are efficient, but not foolproof.
Although they originally evolved to help employers scan paper résumés into a database, do basic screening and trace an applicant's path through the interview and hiring process, today's tracking systems are programmed to scan for keywords, former employers, years of experience and schools attended to identify candidates of likely interest. Then, they rank the applicants. Those with low scores generally don't make it to the next round.
The screening systems are one way companies are seeking to cut the costs of hiring a new employee, which now averages $3,479, according to human-resources consulting firm Bersin & Associates. Big companies, many of which cut their human-resources staffs during the recession, now spend about 7% of their external recruitment budgets on applicant-tracking systems, the firm says….
Find out more at http://online.wsj.com/article/SB10001424052970204624204577178941034941330.html
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