The competition for quality talent has become fiercer than ever. Recruiters are now required to be better prepared to deal with formidable challenges like talent shortage. Led by experienced industry practitioners, Bangalore based Zwayam has leveraged AI & ML technologies to build an end to end solution that automates all aspects of the hiring lifecycle– including sourcing and screening.
The differentiated technology offering that uses AI & ML to not just cater to the applicant tracking flow but also for sourcing and profile screening, has been adopted by over 7,500 companies in the SME segment and several large enterprises across different industries in India. Recruitment automation has come a long way and as a result, recruiters have moved beyond the usual paper resume and walk-in interviews. Advanced recruitment processes are increasingly getting automated as technology is taking on new frontiers in business. And the CEO of Zwayam, Joseph John explains, adoption of technology in recruitment is leading to lower turnaround time, higher recruiter productivity and cost optimization for businesses. Zwayam is also a pioneer in automation across all phases of the recruitment lifecycle. The end-to-end solution automates sourcing and screening over and above the traditional ‘applicant tracking’, usually offered by generic recruitment software.
Differentiated Approach to Recruitment Cycle
Zwayam’s approach to this process is unique in its own way. The company’s
unique combination of inbound recruitment marketing and intelligent screening helps businesses to not just identify interested candidates but also determine their relevance to a job opening. By means of job boards, social hiring and employee networks, Zwayam helps its clients generate a steady stream of interested applicants for open jobs.
"Zwayam aims for exceptional candidate experience using a plethora of methods such as-smart careers site, personalized candidate journeys, and post offer engagement"
Post the sourcing stage, Zwayam’s intelligence layer takes over. This layer uses contextual understanding using the machine learning capability acquired through Zwayam’s association with over 7,500 companies that has helped tune their algorithms. “Over 1.5 million candidates have been processed by our platform that has helped our algorithms, AI and Machine Learning to learn, making them very strong. Because of this sort of traction that we got, we were able to apply AI to service other clients”, adds Joseph. The core of this is done by matching attributes of the job opening to the representation of the candidate’s skill in the resume by matching it to Zwayam’s proprietary skill cloud. It further highlights the skills in which the candidates have higher competency & the ones with lesser competency. This significantly reduces the time taken to source and screen – and these 2 stages typically constitute over 60 percent of a recruiter’s time and effort to close any opening.
55 percent of job seekers abandon applications after reading negative reviews online, and only 45 percent employers ever monitor or address those reviews. When making a decision on where to apply for a job, 84 percent of job seekers say reputation of a company as an employer is important. In today’s competitive hiring environment, negative employer branding can sabotage the hiring efforts and make it even more difficult for an organization to hire talented candidates. “In today’s digital age, it’s very important for a business to project
itself as an employer of choice and build brand advocacy”, adds Joseph.
Zwayam aims for exceptional candidate experience using a plethora of methods such as- smart careers site, personalized candidate journeys, and post offer engagement. These methods are known to reinforce employer branding.
The leadership at Zwayam firmly believes in the power of referral and the impact that employees have in bringing quality talent into the company. Zwayam’s Employee Referral module not only helps employees recommend their friends to the company, but also empowered with the ability to promote it within their professional & personal connections. Without failing to mention, Zwayam’s inclination towards the experience of the main stakeholders in the recruitment process i.e. the candidate, the recruiter & the company. The entire UI is kept very simple with a focus on usability.
More Innovations for the Overall Ecosystem
Zwayam’s new age platform has seen rapid adoption, with clients winning awards for automating their recruitment processes using Zwayam. For one such large IT services provider, Zwayam has made the recruitment experience digital by helping with features like AI powered comprehensive duplicate check to reduce resume ownership conflicts. The company is dabbling with chatbot technology to design virtual recruitment assistants for candidates, recruiters and interviewers. A product on internal workforce management is also picking up traction, this solution helps solve the internal fulfillment problems for large organizations. Zwayam intends to continue leveraging data & insights, to eventually be able to contribute back to the talent ecosystem at large by addressing skill gaps and improving employ ability. The company looks forward to being instrumental for businesses to be able to use data & insights in order to change the way talent is managed.