By Sergei Makhmodov
Co-founder and Asia CEO of DaXtra Technologies
DaXtra was officially born back in 2002 when two friends and I sat in a London coffee shop, daydreaming about our own recruitment technology company. Incredibly, here we are, 14 years later with six offices around the world and over 100 colleagues. Daxtra is now incredibly proud to be serving some of the world’s biggest companies and the best niche boutique firms spanning across the US, EMEA and APAC regions.
Why are companies and agencies signing up for DaXtra’s technology solutions? Well, simply put, technology has, and will continue to, revolutionise the recruitment industry in the years ahead. The analogue world has given way to the digital – and it’s not going back.
In today’s world of digital and online resources, applying for a position, in many ways, has never been easier. At the same time, there’s an ocean of information out there and it’s hard for job seekers to get noticed, and for employers and recruiters to find what they’re looking for. Tidal waves of data are breaking over all of us all of the time. Did you know companies like Huawei and Alibaba are receiving upwards of two million CV applications per year? It’s impossible to take it all in.
That’s why we developed semantic search and matching technology. It is a technology built around intuitive A.I. and Machine Learning that evaluates candidate suitability by matching data on a CV with the requirements of an open job. It produces a percentage score for each candidate – the higher the number, the more suitable the candidate. Using such software, recruiters can save a tremendous amount of effort and increase their productivity.
In automating the process, will human jobs be lost? Of course. That’s true of any new paradigm shift. But there’s a major upside. These new technology-driven efficiencies actually give recruitment professionals the opportunity to learn new skills and move into roles that are relevant for the digital age.
Paradigm shifts aren’t easy, that’s for sure.
Recently I read a funny blog post written by a frustrated applicant. The post shows an angry monkey shoving a computer off a desk. The caption reads: “Now that you’ve uploaded your resume, please input your entire work history.”
Ladies and gentlemen, that is exactly how employers and recruiters should NOT approach talent acquisition. Asking applicants to copy elements of their CVs into little boxes so the information can be processed by outdated recruitment software is incredibly frustrating for the applicant.
The lesson of the story is that recruiters need technology solutions that have the capability to capture a CV and parse out the relevant information automatically – directly from the mailbox it was sent to, or from the website it was found – and straight into the recruitment database. This is vital if companies want to avoid annoying the best candidates at the starting gates.
This brings me to my final point. Some people say finance is the fuel of business. I say that it’s people. It’s finding the right candidates, through successful recruitment, that makes business work.
That’s why Daxtra is here – to help firms scale up, embrace cutting edge technology and compete head-to-head with established players in their own markets and beyond.