Press Release – April 6th 2016
Twenty-first century recruitment and retention challenges can no longer be met by out-of-date technologies that are failing to identify the right people for the right roles. The results are lost growth opportunities in Belgium, Europe and beyond.
CrossLang NV, Ghent, a global leader in translation technology innovation, leads the consortium. Other members include the largest media group in the Benelux, De Persgroep Online Services, job matching technology specialists, Actonomy, and two research institutes, the University of Ghent and KU Leuven.
The latest available EU data show that the unemployment rate across Europe could be immediately reduced by up to 20% if the right candidates could be matched to job openings. Yet, the recruitment sector is held back by out-of-date search technology that fails to match candidates with the right motivations, values and skills to job openings. Recruitment processes take too long, cost too much, and badly matched candidates give rise to retention issues.
The consortium will improve the component technologies associated with semantic job matching engines. Out-of-date manual processes will be replaced by state of the art big data analytics, underpinned by automated natural language processing and machine learning techniques.
During its two-year duration, the consortium will release a series of incremental improvements to search technology, which together aim to foster a paradigm shift in how job matching takes place within countries and across language borders.
The consortium is supported by VLAIO (Vlaams Agentschap voor Innoveren & Ondernemen). The results will be tested by staffing agency Accent; the Belgian staff agencies trade organisation Federgon and job software provider Otys.
The consortium is called ASIMOV: Adaptive Semantics Induction for Multilingual matching in an enriched human resOurces enVironment. For more information, please contact Luc Meertens, managing director of CrossLang NV at email@example.com.