How Careerminds Uses AI and Machine Learning to Improve Outplacement
Global outplacement firm Careerminds maintained an impressive 11.5 week landing time over the course of 2020 as COVID-19 upended the job market.
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11.5 weeks is significantly faster than the national average. According to a report by the US Bureau of Labor Statistics in December, the average American job-seeker spent 23.4 weeks.
“2020 was a tough year for many industries as the pandemic caused many companies to send employees to temporary furlough and permanent layoff,” said Careerminds CEO Raymond Lee of the success the firm has had over the course of the tumultuous year.
“COVID put our contemporary global delivery model to the test as clients looked to us to get their employees back to work despite the economic challenges. I’m incredibly pleased with our placement results.”
Careerminds was able to help workers across the globe find new roles this quickly by harnessing the next-gen powers of artificial intelligence and machine learning, two technologies that are beginning to disrupt the outplacement space. This disruptive technology is augmented by expert career coaches who are trained to work with participants from around the world.
Careerminds is at the forefront of this disruption in two main areas: circumventing applicant tracking systems (ATS) and improving how outplacement learning programs serve content to participants progressing through the curriculum.
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How Careerminds Reverse Engineered Applicant Tracking Systems With AI
Applicant tracking systems are used by companies to filter job applicants so that hiring managers do not have to manually sift through resumes in order to find a good candidate. While ATS technologies save time for employers, they also hinder a candidate’s ability to land new roles by becoming ‘black holes’ that devour applications with no feedback as to why.
Typically, ATS platforms accept or reject candidates based on keywords found within resumes, meaning that many candidates are passed over without a human actually evaluating their skill sets or meeting with them in-person.
Careerminds has reverse-engineered these systems with a tool called PerfectMatch to make job seekers smarter and help them get back to work faster. PerfectMatch uses artificial intelligence technology to scan resumes and job listings so that candidates can fully understand what keywords they are missing in order to get their application through ATS platforms and into the hands of a hiring manager.
Armed with this knowledge, Careerminds’ participants are more likely to land interviews than those who are submitting resumes blindly, removing a large barrier to entry for job-seekers.
“The PerfectMarch technology allows the career coaches to be more impactful with their coaching and guidance,” said Lou Ann Kummerer, SVP Global Operations.
“Job boards are a necessary evil in the job search for many participants, hence the need for an automated tailored approach which is proven effective for the participants’ success.”
How Machine Learning Provides Personalized Experiences For Careerminds’ Participants
Besides tackling ATS platforms with AI, Careerminds also employs machine learning technologies to tailor its learning platform to meet the needs of the individual participant.
Typical outplacement learning platforms are structured in a linear way that all participants progress through. In order to speed up this process and meet participants where they are in their transitional journey, Careerminds has implemented machine learning tools that can better serve learning content when it is actually needed and useful to the participant.
Similar to machine learning algorithms used by content giants such as Netflix and Amazon Prime, the Careerminds learning platform suggests relevant content that is specifically related to the needs of the individual at a specific time.
By doing so, Careerminds is able to better support participants as they progress through the learning platform’s curriculum at a rate that is quicker than if they were to simply follow a linear lesson plan that starts all participants at the exact same place. This custom approach meets participants where they are in the job search and accelerates faster placement rates.
When asked about the development of these disruptive outplacement technologies, Paul Sanders, VP of Technology, said: “Our mission at Careerminds is to take on the heavy lifting for participants during the job search. As job searching changes, we adapt. We are constantly evolving these technologies to make it really easy for job seekers to be successful and ultimately get back to work quickly.”
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What’s Next?
Careerminds will continue pushing the boundaries of the outplacement space by implementing even more AI and machine learning-based tools to better serve participants.
One of the most disruptive of these tools is an AI-based tool that will boost interview performance by examining body language, speech, and overall performance to give data-backed suggestions for improvement.
This technology is also specifically adapted to the changing world of work that is increasingly remote and utilizes popular telecommunications apps like Zoom, which have become the standard interviewing platforms as the job market transforms.
All of these technologies are part of Careerminds ‘blended approach’ to outplacement, which takes advantage of next-gen technology while also empowering participants by pairing them with dedicated, one-on-one coaches who are by their side over the course of their transition. The blended approach also supports participants until they land new roles, meaning that they will never lose support due to antiquated term limits that were once popular in the space.