Last week, the recruitment software provider introduced Nurture Recommendations to its existing Lever Nurture applicant tracking solution. Nurture Recommendations suggests past applicants that match current employment vacancies to recruiters, enabling them to better utilize their existing talent pool.
“With Nurture Recommendations we are eliminating the ‘talent graveyard’ that exists within most ATS’ and tapping into this very valuable, very underutilized candidate pool,” said Sarah Nahm, CEO of Lever, in a release. “Sourcing candidates often feels like Groundhog Day, with every search starting from scratch. Nurture Recommendations solves this problem by suggesting candidates from within an organization’s rich—and often ignored—archives.”
While past applicants may have lost to stiffer competition, many times these second placers are perfect fits for later vacancies. These candidates have already expressed interest in working for the employer in question. They are also more likely to respond positively to cold calls from recruiters.
Lever’s Nurture Recommendations’ suggestion engine generates a recommendation list of past candidates whenever a new job vacancy is posted. To do this, it utilizes an algorithm that considers a customizable set of criteria that includes, but is not limited to the following:
- Date of last contact
- Archive reasons
- Interview scores
- Stage of the hiring process reached by applicant
- Previous job postings
Recruiters can add weighted value to different factors so that the results best fit their company’s current needs. A dismiss button gives hiring mangers the ability to remove specific candidates from future suggestion lists.
Suggestions are also sent to recruiters via email notifications and are viewable in the software’s candidate main view. The new option works with existing Nurture Campaigns, enabling recruiters to add these candidates to ready-to-go email campaigns that automatically handle follow ups.
“Companies are sitting on top of thousands, even hundreds of thousands of these warm connections,” added Nahm. “But instead of leveraging the hard work they’ve already done, recruiters often start their candidate search from scratch, even coming across the same candidates again and again in their sourcing activities.”
With national unemployment under 5 percent, recruiters are seeing a decrease in the number of applications received. Since many individuals get discouraged after sending in several applications to one employers, recruitment software that scans the graveyard of past resumes can decrease the amount of time it takes to fill vacancies.
Reinvigorating old resumes is trending. Crowded introduced Crowded Refresh in September to help employers find the most valuable past applicants. With Crowded’s offering, a chatbot messages past applicants and then utilizes that information to determine which current open position they are best suited.
Founded in 2012 in San Francisco, Lever has raised more than $73 million. Current clients highlighted include Netflix, Cirque Du Soleil, Lyft, and Hot Topic.