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| REED
ENHANCES CANDIDATE SEARCHING THROUGH
BURNING GLASS LENS PLATFORM
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Leading
UK Recruitment Agency Deploys Cutting Edge
Search & Match Technology
For
Immediate Release
LONDON
(July 14, 2004)
Reed
Executive PLC announced today the launch
of an enhanced online search platform to
enable recruiters to identify promising
candidates more swiftly.
Reed,
one of the UK's largest and most recognized
recruitment agencies, commands a massive
candidate database, both through its extensive
retail footprint and through its reed.co.uk
unit, the UK's highest volume free job board.
However, until now, Reed's staff lacked
the tools to derive the full value out of
this important resource.
The
new platform deploys Burning Glass Technologies'
Lens™ platform. Burning Glass is the leading
provider of resume processing, screening,
and search automation. Unlike keyword tools,
its Predictive Matching™ engine undertakes
a holistic analysis of each candidate's
portfolio of skills and experiences in order
to evaluate how likely a job is to fit the
candidate's career path. Lens™ has learned
from millions of actual career transitions
the kinds of profiles that are statistically
probable to result in successful matches
to a job description. As a result, it can
sort through large volumes of CV's and in
only seconds return those that are most
suitable for the job.
"Because
Lens™ reads resumes the same way people
do - not just as a bunch of words on a page
- it is able to return results that just
feel relevant," said Matthew Sigelman, Chief
Executive Officer of Burning Glass.
Lens™
offers Reed recruiters a range of powerful
tools for searching through the candidate
database and identifying relevant talent.
Lens™ puts a range of tools at the disposal
of Reed recruiters so they can search in
whatever way they find most effective. Resume
Cloning™ allows recruiters to search more
readily based on their intuitive feel for
client requirements by finding more candidates
similar to one they know to be a good match.
Smartlist™ returns candidates with the skills,
experiences, and career paths that make
them a good match for a free text job description.
And for those who still like keyword searching,
Lens™ allows them to narrow their search
to specific sections of the resume.
Because
Lens™ is built atop pioneering natural language
processing technology, no profiles or forms
are necessary. Lens™ is able to read and
analyze free text CV's and job descriptions
directly, thereby eliminating barriers to
user adoption.
Reed
is also planning to deploy the Burning Glass
technology suite to the public through its
www.reed.co.uk
site. Reed is already using Lens™ parsing
technology to pre-load the candidate registration
form on the site. Since then, it has seen
a pronounced drop in candidate abandonments.
About
Burning Glass Technologies
Burning
Glass develops the world's most advanced
and effective solutions for resume parsing,
screening, and search. Quickly deployed
and scalable, Burning Glass applications
have demonstrated an 80% reduction in cost
to screen resumes and are up to 4.5 times
more likely to find the right candidate
for the job than existing solutions - resulting
in faster time-to-hire and higher quality
matches. Built atop pioneering statistical
natural language processing technology,
Burning Glass data extraction tools operate
at the highest level of accuracy and detail
in the industry. Burning Glass controls
several patents in the fields of data extraction,
information interpretation, behavioral profile
generation, entity matching, and machine
learning.
Since
1999, Burning Glass solutions have been
used by major employers, recruiting agencies,
applicant tracking systems, and job boards
throughout North America, Europe, Asia,
and Australia.
About
Reed
Reed
enjoys a leading position in the UK recruitment
sector at a time when the market is going
through great and exciting changes. Valued
at over £16 billion, the UK recruitment
market is growing at over 12% a year and
supports over 10,000 different recruitment
companies. Today the market ranges from
temporary staffing services, through outsourcing,
training and assessment services to specialist
recruitment services. Reed enjoys a position
of leadership in every one of these areas.
Reed has over 300 branches throughout the
UK and Ireland and its Reed Online division
serves both candidates and other agencies
through the UK's largest free job board.
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