The Benefits of Semantic Search in Recruiting

Semantic means ‘meaning’ and semantic search is a technology that fetches results to a query on the basis of user intent and the context behind the query. It is a revolutionary technique that has changed the way we look at search. Today, it is everywhere, with even Google having introduced it to its algorithms. Its biggest scope has been witnessed in the fields of enterprise search and scientific research, both of which have to deal with mammoth amount of data. Enterprise search tools like 3RDi Search and Coveo have emerged as the most effective tools based on semantics.

Recruitment is witnessing an ever increasing number of candidates seeking and applying for jobs and the emergence of multiple platforms to scout for candidates, including job portals and social media. In such a scenario, can semantics benefit recruitment when it comes to finding the right candidate?

People with years of experience in the field of recruitment believe that finding the right candidate is not as easy as it seems. They say it’s a fact that recruiters many a time fail to reach the right candidate either because they didn’t type the right keyword or the candidate missed out on including the “right” set of keywords in his/her resume or online profile. This is where semantic search can step in to fill the gap and help HR and candidates connect.

Why it Can Make a Difference

The concept based approach of semantic search makes it far easier to find the most relevant candidates, with “wrong keywords” no longer serving as the barrier.

To begin with, it fetches results on the basis of the meaning or concept associated with the query instead of the string of words typed by the user. When you apply this concept to the scenario of recruitment, you witness a breakthrough as it takes away the element of guessing from the process. In other words, the recruiters are no longer left to guess the words and terms that candidates are most likely to use on their resumes, along with the entire spectrum of likely-to-be-used synonyms.

An Example:

Let’s consider a recruiter is looking for a software developer. When he/she enters the words software developer, a conventional search tool will only fetch candidates having the exact words on their profile/resume. However, a semantic search tool will not just fetch candidates with the exact string of words, but also conceptually similar terms, such as software engineer, software development professional, software professional, software technology expert, and so on.

The Benefits

There are several ways in which it can benefit the recruitment team of an organization and make the task of finding the right candidate easier and faster.

Faster process of finding the most relevant candidate match.
Recruiters are not required to have a very deep knowledge of the diverse terms relevant to a field or industry.
Recruiters are not required to spend time conducting in-depth research on the industry.
Recruiters get access to a wider pool of relevant candidates.
Even novice recruiters can find perfect candidates like experienced professionals do, as the “searching” is taken care of by the tool.
Organizations with less experienced recruiters can also connect with the most relevant candidates.
Makes it easy to source candidates for technical positions, where there can be multiple terms to refer to a specific position.
Ensures that companies don’t miss out on good candidates just because he/she failed to include a specific term in his/her resume or profile.
The Bottom Line:

While the concept of applying semantic search to recruitment might sound exciting, we have still a long way to go before we can completely rely on machines to “find” candidates. Maybe in the near future, this technology, along with AI and Natural Language Processing (NLP), will advance to a level where the complete process of sourcing can be taken care of by a tool with zero human intervention. However, for now we can safely use semantic search based tools to aid the recruiters, save their time and allow them to focus on more important tasks.

Marine Insurance

Trading Country

Pakistan is the trading country. Large amount of businesses are linked with import and export and trading. Most of the cargo businesses are occur through marine logistics.

Capital Investment

Import and export needs large amount of investment. Importers and exporters transport things in a bulk quantity and for this huge capital is required. The safety during transit is the most mind shattering question.

Advantages of having Marine Insurance

There are a lot of advantages of having marine insurance which are enlisted below:

A person whose goods are in transit then he doesn’t need to worry for any type of loss.
Unfortunately, if any accident is occur during transit then take a deep breathe because insurance company will compensate.
The strongest benefit of having insurance is peaceful and relax mind without any stress of damage.
Marine insurance decrease the chances of risks and many threats.
Types of Marine Insurance

There are two types of insurance

Marine cargo insurance
Marine hull insurance
Losses

When you deal in big business then the chances of losses and misplacement is also increasing. Any point of deprivation results in a huge damage. So in reality no one can afford such substandard conditions.

Coverages

Marine insurance provides coverage’s both for the goods and also for the ships and other sources of transit.

The United Insurance Company of Pakistan Limited

The United Insurance Company of Pakistan Limited is one of the good company which deals in all products of general insurance. Marine insurance is the most appreciated product of UIC.

UIC Packages

The United Insurance Company of Pakistan Limited offers two features in one product:

Marine cargo
Marine hull insurance
The thing which makes The United Insurance Company of Pakistan Limited more superior is UIC’s client centric approach. The United Insurance Company of Pakistan Limited modifies its marine insurance policy according to the demand of the customers.

UIC Marine Cargo Insurance

This feature of marine insurance covers all the goods which are in transit.

UIC Marine Hull Insurance

Marine hull insurance covers the vessel structure of a marine which covers all the damages occurs to the ship body.

Protect your Goods

The basic reason of marine insurance is the safe and secure transportation from first point to the desired destination. Marine insurance can only do this and gives all around safety.

Safe Freight in

Marine insurance is the second name of safe freight in and in case of any emergency and accident, insurance company will compensate all the losses.

Briefly

Marine insurance assures 100% security for the cargo goods and for ship body. Insurance is mandatory step for every business which gives proper compensation in case of any accident and emergency. Marine insurance covers all the losses and damages in accident. So every cargo business must have true and genuine marine insurance policy.

What is Sukanya Samriddhi Yojana? Benefits of Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Yojana (SSY) is a benefits scheme for the girl child it started as a part of the ‘Beti Bachao Beti Padhao’ campaign. Parents of girl child can small deposit into the bank. It is currently 8.1 % and gives benefit of income-tax under section 80 C of the Income Tax Act, 1961. Also this scheme is the returns of tax free.

An account can be opened for a Sukanya Samriddhi at any time after the girl birth till she turns 10, by a minimum deposit of Rs 250 (Earlier it obtained Rs 1,000). In succeeding years, Rs 250 minimum and maximum Rs 1.5 lakh can be saved during the ongoing financial year.

Also, you can open an account in any post office or approved branches of commercial banks.

A Sukanya Samriddhi account will remain useful for 21 years from the date of opening or till the girl marriage after she turns 18.

To reach her higher education expenses requirement, partial withdrawal of 50 per cent of the balance is released after she turns 18.

What is the Interest Rate of Sukanya Samriddhi Yojana?

Interest Rate: Investment in the Sukanya Samriddhi scheme retrieves interest at the rate of 8.5 per cent every year is calculated and compounded every year, according to the India Post website.

Who is Eligible for Sukanya Samriddhi Yojana?

The eligibility criteria for the girl child that require to be met are: only girl children can avail Sukanya Samriddhi Yojana benefits under the saving scheme. Sukanya Samriddhi Account to be eligible for open a girl child the maximum age should not be more than (10) years. However, one year is allowed for a grace period.

What is the Benefit of Sukanya Samriddhi Yojana?

There are many benefits of Sukanya Samriddhi Yojana under the Government of India ‘Beti Bachao Beti Padhao” To encourage people to open an account for Sukanya Samriddhi, Govt has exempted contribution to the account under section 80C of the Income Tax Act, 1961.

Highest Interest Rate among all Small Savings Schemes offered by Govt of India
Tax Savings
Lock-in Period
Purpose of Sukanya Samriddhi Account
Maturity Proceeds to be paid to Girl Child
Interest to be paid even after Maturity
Flexibility to operate Sukanya Samriddhi Account
Parents Can Withdraw Money from Sukanya Samriddhi Account?

An account holder of Sukanya Samriddhi can withdraw up to 50 per cent of the total savings for filling the marriage purpose or his/her girl child higher education. After that, if the account is not closed, the Sukanya Samriddhi account holder would receive interest on her savings/balance as defined in the scheme.

What is The Maturity Amount of Sukanya Samriddhi Account?

Maturity duration of the Sukanya Samriddhi Account is 21 years, and funds can only be withdrawn after reaching 18 years age of the girl child. Interest Rate- At present (FY 2018-19) Sukanya Samriddhi Account offers an interest rate of 8.6% per annum.

Which bank is best for Sukanya samriddhi account?

The Reserve Bank of India has allowed the following banks for opening the account for Sukanya Samriddhi Yojana (SSY).

Axis Bank.
Andhra Bank.
Allahabad Bank.
State Bank of India (SBI)
Bank of Maharashtra (BOM)
Bank of India (BOI)
Bank of Baroda (BOB)
State Bank of Patiala (SBP) and much more?

What Documents is Required for Sukanya Samriddh Yojana?

Documents are required to open an account for Sukanya Samriddhi Yojana: *Account Opening Form of Sukanya Samriddhi Yojana. You will have to need the girl child birth certificate for account beneficiary. The depositor (parent or legal guardian) Identity proof, i.e., ration card, PAN card, passport, driving licence.

And as per Supreme Court verdict, any Government Welfare Scheme needs Aadhar number, Aadhaar card compulsory in if you go to SBI to open a Sukanya Samriddhi Yojana Account. You can go with the Birth Certificate, address proof of Guardian, ID proof.

How Much Money Can Be Deposited in Sukanya Yojana?

The maximum and minimum amount at least of 1000 rupees has to be deposited per year and the maximum Rs. 1.5 lakh for the Sukanya Samriddhi Account and there are no limits on the number of deposits either in a month or in the year of the economic.