We often hear our clients say they spend a lot of time and effort reading resumes to determine who is the best candidate for their requisition. In the race to help our clients get the best candidates with minimal manual effort, we’ve developed an unparalleled Match Index Intelligence inside of Smart Track that identifies and immediately shows you which candidates are best fit for the position – going beyond simple word search to include complex cognitive intelligence.
The debate is ongoing – are computers more adept at making decisions than humans? Countless studies have proven that people are biased when it comes to decision-making, and this inherent bias can lead to inadvertent discrimination or workplace homogeneity. One way to remove this bias and find the best-fit candidates is using algorithmic hiring – using an algorithm to systematically analyze data and make hiring decisions.
However, while algorithms might do a better job of removing biases, it’s unable to understand people in the same way a human would. We, as humans, have cognitive intelligence – we can read a book or a paper and understand what it says. We are able to relate relevant concepts or themes based on what we already knew. But our understanding is colored and influenced by environmental factors like time of day, mood or other factors such as comments from a colleague.
At DCR, we understand this dilemma between human intuition and machine-based objectivity. Through our Match Index Intelligence capabilities, we provide a solution. Our award-winning Vendor Management System (VMS), Smart Track, now offers complex cognitive intelligence to help hiring managers match candidates to requisitions that goes far beyond a simple word search.
Powered by DCR’s proprietary SIMSIM (Smart Intelligent Machine, twice over) Engine, we’re teaching Smart Track to think like a human with tons of experience in workforce management, but without the added caveats that impact actual human thinking. We use machine learning algorithms and data science to provide a tool that our clients can use to make candidate decisions that are both objective and based on independent client-specific experience.
We pull data from numerous sources including top career sites and the company’s own hiring-related historical data. We make sure that each client’s data is private, so hiring managers are only seeing matches that are made based on external market data and their own historical data and behavior. Our multi-tenant system ensures that there’s a brick wall between different clients’ data sets – each one is independent, and no two clients’ data gets mixed with each other.
Trying to search for or match a candidate to a requisition using standard word search is tedious and often yields poor results. Hiring decisions require better cognitive analysis than that. Smart Track uses NLP algorithms to analyze job requirements, candidate qualifications and historical hiring manager selections to learn what type of candidates are really the best match for a position.
The Match Index Intelligence pre-pairs candidates to requisitions by matching supplier-submitted actual resume content with the requisition details, using NLP and machine learning to mirror human decision-making without the inherent bias. It then gives a ranking to each candidates and buckets them into groups for hiring managers to easily understand who the best match for the job is.
Using the Match Index Intelligence features is easy. It’s built-in and available directly from the requirements details screen in Smart Track, so there’s no need to navigate to somewhere once. Plus once you pull up the candidate matches for your requisition, you can view resumes with a single click.
Building a feature such as the Match Index Intelligence requires an immense amount of data to build – we’ve been feeding our engine market data for over a year on a rolling 12-month period. To date, DCR is the only VMS provider to offer such an incredible value-added feature to our clients.
The Match Index Intelligence is only one of the exciting apps available in Smart Track. Over the course of time, DCR’s SIMSIM Engine will be powering the release of more progressive capabilities and innovative solutions. Learn more about Smart Track’s Match Index Intelligence.
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