Resume Banks
A resume bank is simply an applicant-tracking system operated by an independent commercial firm. The procedures for submitting resumes to these services vary. Some resume banks charge a fee. What do you get? You get nationwide exposure to hundreds of companies of all sizes, from
In many ways, a resume bank is similar to a traditional employment agency: you send in your resume to a service, and the service begins working to find a job for you. However, with an electronic employment “agency,” you are, theoretically, in the running for every job request that comes in. While each resume bank is different, you generally submit your resume to the service either by downloading it or filling out an online form. There are many popular resume banks available on the Internet, including Monster and CareerBuilder, that cater to job seekers in a variety of fields. There are also services that cater to job seekers in specific fields.
How Does It Work?
Resume banks generally give employers online access to their databases, allowing them to search for qualified candidates. Some resume banks may require that client companies call the service with job openings and give the service a list of keywords and desired qualifications. The service then searches the database on the client's behalf, looking for candidates who match the keywords.
How the candidates are presented to the client varies. Some services provide candidate summaries; others provide the actual resume; still others include information from the professional profile. Many resume banks allow you to hide personal information, such as your name and contact information, from employers viewing your resume. Some services contact you before forwarding your resume or any information to the client company.
Before submitting your resume to a resume bank, be sure to read the instructions and usage agreements carefully. You should also be aware of privacy policies. If you want to remain anonymous when looking for work — for example, if you don't want your current employer to know you are doing a job search — make sure the resume bank has that option.
Advantages
Just as with automated applicant-tracking systems, there are numerous advantages to resume banks. Here are a few that pertain to you, the job seeker:
You benefit because you can make your resume available to hundreds of companies by posting it in one place.
You are exposed to employers nationwide, not just in your own town or region. If you're willing to relocate, you can find your dream job, even if it's thousands of miles away.
Companies like using resume banks because doing so can potentially save them the cost of advertising and, by prescreening candidates, also save them hours of work. Resume banks also give employers easy access to thousands of candidates.
Disadvantages
Again, there are also a few disadvantages of resume banks to be aware of:
Since some database searches only turn up a few qualified candidates, many companies may not rely on resume banks.
Many companies continue to use other methods of recruiting candidates, including in-house applicant-tracking systems, help-wanted ads, and employment agencies, in lieu of resume banks. You should use these databases as a part of your overall job hunt, but should continue to use other methods of job searching as well.
