During the creation of Vettd’s backend, we processed hundreds of thousands of resumes to discover that there were approximately 159,014 unique job titles in our sample alone.
Our dedication to supporting and educating hiring managers has led us to uncover some really interesting things about this space. We’ll do our best to share our findings with you here.
During the creation of Vettd’s backend, we processed hundreds of thousands of resumes to discover that there were approximately 159,014 unique job titles in our sample alone. Of these job titles, 9,900 were used by 3 or more people. This means that professionals tasked with making hiring decisions are expected to be familiar with thousands of titles relating to their job opening. Often times, the comparable titles are made up or specific to a certain company. The problem is simple: there’s very limited standardization.
The US government and Bureau of Labor Statistics has realized this and has done a great job promoting the use of the Standard Occupational Classification (SOC) system. However, there is a huge gap between their titles and reality. The SOC is forced to group everyone into 840 detailed occupations. That means there are still roughly 9,100 additional job titles that managers have to properly interpret on their own.
With no oversight, people and companies are becoming increasingly confused about what various titles actually mean at different companies. Complicating the nomenclature makes it difficult for managers and recruiters to identify candidates for their positions. It forces anyone reviewing candidate resumes to take the time to understand each and every title variation in order to give each candidate a fighting chance.
We’re currently working on some exciting technology to combat these dynamic descriptors and will let you know when we’re ready to help interpret 159,014 titles in minutes.
One of the biggest economic data challenges of our time is this: How can organizations be more competitive by better levering technology to identifying skill gaps and star talent to fill them?
Vettd recognized how this challenge creates massive inefficiencies throughout the HR process. Only by understanding the true value of applicants and employees, at scale, can talent management ever be aligned with the goals of the organization.
We founded Vettd to solve this problem using artificial intelligence. Our talent classification approach quickly distinguishes star talent qualities that are impossible for humans to recognize. By leveraging deep learning applied to natural language processing, we can help organizations interpret masses of profiles and understand the value of individuals.
Vettd’s AI-driven talent classification is a quantum leap improvement in the human resource decisions that will affect the future of your organization.
