The Future of HR Tech Industry – Taxonomy
October 13, 2021 by Rohini Sood
The article discusses the future of the HR tech industry and the emerging taxonomy that is reshaping the landscape. It highlights the rapid growth of the HR tech industry and its potential to disrupt traditional HR practices. Read the predictions about HR tech and its potential impact on the industry.
The HR tech future certainly looks bright with HR recruitment tools/software such as resume parser and taxonomy to help ease the burden of HR professionals. These automated tools/software sort and manage candidates and much more, saving you the botheration of manually tracking the entire hiring process. Before I delve deep into Taxonomy and its related benefits, I want to take your attention to Josh Bersin’s latest podcast on Skills Taxonomy.
Josh Bersin on Taxonomy
Josh Bersin says that Skills Taxonomy is the next big thing. He adds that more than half the conversations are centered around categorizing, storing, and developing skills.
Josh says no two companies have similar needs, even though they may be from the same domain. He adds that skills taxonomy affects learning, recruiting, career development, job architecture, and financial relationships with employees.
He says most vendors who relate to Taxonomy are primitive, except a few consider it an integrated architecture.
RChilli also agrees that the time has come when everyone should use skills taxonomy. RChilli is among the few vendors offering a comprehensive collection of skills, job profiles, and related information.
Earlier this year, RChilli and enrich.io collaborated to launch an innovative product, Enrich Solr Taxonomy 3.0. The recent version brings about a notable change in the users' resume/job searching capability.
What is RChilli Taxonomy 3.0, and How Can it Fit into Your Business?
Taxonomy 3.0 offers a collection of skills/job profiles and related information. It is a comprehensive library of skills and job profiles spread across dozens of industries and domains with infinite unique concepts.
Enhance Your Search Engine
RChilli Taxonomy 3.0 helps users enhance their searching capabilities by offering skills/job aliases to search for the right results.
For example, searching with the keyword ‘Accountant’ may give the users a small number of relevant candidate results.
But what about the applicants who did not mention this keyword in their cv/resumes, yet they have a similar experience of an Accountant like a Cashier or an Accountant Admin?
RChilli offers aliases for the job profile ‘Accountant’ such as Accountant Cashier, Income Tax Accountant, Associate Accountant, Accountant & Office Manager, Tax Accountant, Accountant Administrative, and many more.
The users can use these aliases to broaden their keyword search to find the right candidate.
Use Taxonomy for JD Builder
Currently, RChilli Taxonomy offers 5,50,000+ Job Profiles. Users can easily create a job description with the help of related information on job profiles such as abilities, education, work activities, and tasks required for a job profile.
Connecting Job Profile to Skills
With the help of related skills/job profiles, you can get skills related to a specific job profile and vice versa.
For example, for a ‘Recruitment Manager’ job profile, RChilli offers related skills such as Recruiting Operations, Recruitment Advertising, and Recruitment.
Therefore, if someone missed writing these skills in the CV, Taxonomy can create a supplementary list of skills and help you expand your search on skill parameters.
RChilli Taxonomy has an exclusive ontology that sets a benchmark for storing resumes/jobs with its step-by-step classification of skills/job profiles. It is beneficial for Solr/elastic search engine users.
For example, the ontology for a skill ‘Oracle’ is as follows: Information->Database and Systems Administrators and Network Architects->Database Management System->System Software->Oracle Database.
Ontology helps you quickly organize and find resumes related to a particular domain.
Users of RChilli Taxonomy 3.0 get the advantage of govt-data ready taxonomies.
It also provides information on Skills and Job Profiles from open sources such as ONet, NOC*, ANZSCO*, and ESCO. With this, the users can easily map local govt. database.
Recommended Skills and Job Titles
Users get the advantage of various recommendations regarding skills and job titles. These suggestions help in expanding the search for finding the right candidate.
The users can look for various job profiles through geographical search based on a particular region/area.
RChilli Taxonomy 3.0 also works for non-geographical locations as well.
For example, Operations Manager is also known as the Operations Director in the Philippines and Managing Director in India.
You can search with all the possible terms for the search.
How Does RChilli Taxonomy 3.0 Assist You?
Get keyword suggestions and enhance your search results.
Create additional tags in the search engines, software like Solar/Elasticsearch, or custom-built.
Set a criterion for storing resumes/jobs with the step-by-step grouping of skills/job profiles.
Get the recommended skills and job titles.
Get govt. data-ready taxonomies as the product can now easily map with govt databases of the USA, Canada, Australia, and the European Union.
HR teams looking to stay ahead of the competition should integrate new AI-based technologies, such as resume parser and taxonomy. Automating recruitment processes goes a long way in attracting leaders of today and the future.
Boost your search with skills and job aliases and get the perfect fit for your job position. You can experience how Taxonomy can radically change your recruitment process. Try our incubator program and see the difference.