Using modern recruiting technology that provides a great candidate experience will help candidates see your company in a positive light, and thus improve your employer branding and make the whole process measurable
The war for talent is definitively on, making it harder than ever for companies to find the right people, especially for certain roles. Not finding the right people quickly can even become one of the major hindrances on their growth journey.
While some companies struggle with growth, some are trying to survive with massive amounts of applications, like the majority of retail or services industry companies. Also, recruiters and talent acquisition professionals are battling against constant chaos; managing a lot of repetitive and time-consuming tasks like phone screening, booking face to face interviews, going through piles of faceless CVs, using a traditional ATS, sending emails to manage the process etc.
On the other hand, some organizations have quite the opposite challenges with poor employer brand ― not being a well-known company or a desirable place to work.
There is a way
As described, nearly seismic shifts are happening in the world of work and leading organizations across the globe are already realizing the benefits of using video interviews throughout their hiring process.
According to Universum’s most recent Employer Branding NOW report, video interviewing remains a top tech choice for companies. Two-thirds of the World’s Most Attractive Employers (WMAEs) are already using the technology. Also LinkedIn has identified video interviews among the major recruiting trends. Video is no longer just a nice-to-have―it’s an essential part of companies’ recruitment strategy.
But what does video interview actually mean? It’s an interactive dialogue between at least two people that takes place remotely using video technology. Both the recruiter and candidate can participate in the interview from anywhere in the world using a laptop or mobile device with internet connection, camera, and microphone.
Video interviewing is on the rise not only due to technological advancements and workplace globalization, but also because personality rather than competence is now driving talent acquisition.
The benefits of video interviewing
When all the CVs flooding in look exactly the same, you might feel like you’re making hiring decisions with a coin toss. But there’s no need to be that desperate since video interviews give you a clear picture of the people behind the resume. And what’s also great is that you can invite only your top candidates to in-person interviews and gain peace of mind knowing you hired the right person.
When you’re drowning in routine work, you’re not necessarily thinking about the financial side of things and it’s only human. You just want to get things done. But by adopting video interviews you can gain both; time savings as well as money savings. Using video interviews results in about 50% of time savings in your screening and interviewing process. Interviewing fewer people face to face means significant cost savings. If you save two hours per candidate with video interviews when screening 1,000 hires annually, that's 2,000 hours saved per year―and roughly 200k€ saved annually!
It’s not just time and money savings that you need to take into account when considering video interviews. With recruitment, the challenge is often how to involve more people into the hiring process without having to manage tons of coordination. Using video interviews, you can easily involve more people in the process without the hassle of coordinating schedules. And by sharing candidates with more people in your organization and building a transparent hiring process, you increase trust between recruiters and hiring managers, and reduce unconscious bias.
One more aspect to take into account when thinking about how to make your recruitment process more efficient―bad reputation and poor candidate experience. Bad reputation keeps the best candidates from applying to your company and you’re steps away from hiring the right people. Using modern recruiting technology that provides a great candidate experience, however, will help candidates see your company in a positive light, and thus improve your employer branding and make the whole process measurable.
What does success look like?
According to recent research, companies are 2.7 times more likely to improve their cost per hire using video interviews. When organizations implement video interviews into their hiring process, they can expect results like improved time to hire, cost per hire, quality of hire, candidate experience and employer branding.
In order for companies to successfully implement video recruitment practices & tools, it doesn’t require any special technological capabilities or skills. It’s more about the drive to embrace the benefits of modern recruitment, acting as a change catalyst and sharing the insights and success achieved by video interviews across the organization.
We at RecRight offer a winning video recruitment platform, making all the above possible and easy to implement. It’s not only the technology that companies get from RecRight, we also provide best practice tips & tricks, which we have learned with and through our 400+ customers.
About the Author:
Riku Malkki is an experienced e-recruitment professional and CEO at RecRight. He has over 12 years’ experience in HR Tech vertical. He’s a MSc in Information Systems Management and has helped more than 200 organizations in developing their recruitment process.