Seeking Software Fix for Job-Search Game.
Technology was supposed to revolutionize the courtship dance between employers and prospective hires, matching the right candidate with the right job in just a few clicks. Instead, Web-based job-hunting tools have left human-resources department with too many résumés and have given job seekers the sense that applying online is a waste of their time.
Now, a host of technology firms large and small are racing to build tools to improve the experience for both sides. The holy grail: software that can read résumés intelligently, flagging a handful of truly promising candidates to recruiters and alerting job seekers to openings that are laser-targeted to their skills and background.
And no wonder: Companies are expected to spend $5.75 billion on online recruitment in 2012, and their outlays could climb to as high as $10.4 billion by 2016 if the weak job market recovers to normal levels, according to market-research firm Borrell Associates Inc.
“You can see from that amount of money why people are pursuing this magical algorithm,” says Kip Cassino, executive vice president at Borrell. Read the rest of the article by Lauren Weber for WSJ.com