The European employment landscape is constantly and rapidly being redefined by global changes such as the digital revolution, globalization, new emerging business and consumer models. These changes have resulted in consequences ranging from widespread unemployment and under-employment in some countries, while at the same time experiencing high vacancy rate. According to recent Eurostat data, the result of the current misalignment between labor demand and supply has led to a 2.2 percent vacancy rate in the second quarter of 2018.
Jobrapido, the world’s leading job search engine with 55 million monthly visits and more than 80 million registered users in 58 countries, is on a mission to fill this gap and make it easier for candidates and companies to find the right match. The company has developed Smart Intuition Technology ™, a solution based on Artificial Intelligence and Big Data, combined with the application of Taxonomy to the field of job recruiting.
"Our mission is to provide an excellent service to both candidates and companies, leveraging on the potential of technological innovation and Artificial Intelligence. The goal we achieved is to provide 35 percent more qualified applicants for each vacancy and increase the application rate, making recruiting processes more effective by 50 percent." said Rob Brouwer, CEO of Jobrapido.
HOW SMART INTUITION TECHNOLOGY ™ WORKS
What happened before
Before, a Jobseeker would search using a certain keyword. Current search engines, based on keyword matching, only show the results reflecting that keyword or at most of its synonyms. Jobseekers lose out on good opportunities and companies lose potential talent simply because they used different words to describe skills or experience.
What happens now with Jobrapido’s new technology
Based on taxonomy, Artificial Intelligence, and machine learning, Smart Intuition Technology ™ “learns about the interests of jobseekers and puts them in relation with the most complete range of targeted offers. So this new technology makes the job matching easier”, said Jean-Pierre Rabbath, Jobrapido's Vice President Product and Analytics.
"Smart Intuition Technology™ is Jobrapido's answer to the growing gap between job demand and supply and is designed to be the tool that can significantly improve the effectiveness of job search and candidate selection processes. This new technology is applied to all stages of the job search experience and helps to increase traffic, profile the community more effectively, enhance the user's search experience, and is now available in Europe" adds Filippo Meraldi, Jobrapido’s Vice President Digital Marketing.
Before the launch of the Smart Intuition Technology™, the company conducted a Relevant and Evaluation Test to evaluate jobseeker perception of the job search experience, within the scenario of the competitors and different search engine technologies.
The ultimate goal was to determine the degree of user satisfaction in job searching with Smart Intuition Technology ™ by Jobrapido and to project this result in order to resolve the gap between employment demand and supply.
Working with Applause, a software testing customer experience company, the test was conducted in Italy, United Kingdom and the Netherlands, by selecting for 20 real job searches carried out by users in each market and comparing the first 15 results obtained for each search using Smart Intuition Technology™, the "old " Full Text Search (FTS) by Jobrapido and a competitor.
The results of the comparison were evaluated by a cluster of users -- unrelated to the Jobrapido community and natives of each market -- who were asked to measure the quality of the research experience in the different scenarios with a vote between 0 ( bad experience) and 3 (excellent).
Parameters of the rating evaluation included relevance of the results based on the research carried out; their positioning on the page and number and uniqueness of the results.
The data was presented to the testers within a neutral digital support, to avoid influencing the evaluation of the experience from temporal distortions and user interface.
Based on the data reported, Jobrapido’s Smart Intuition Technology ™ is positioned above the market leader, guaranteeing a 123 percent increase in the number of total results for each job search compared to Keyword Matching; a 35 percent increase in the number of qualified candidates; a rate of application 12 times higher; and 50 percent more effective in the recruiting process.
In a moment in time when innovation like digital transformation and Artificial Intelligence are profoundly impacting the labour market, sparking doubt or even fear in some, Smart Intuition Technology™ demonstrates the potential technology has to increase the efficiency of processes, also in the labour market.