Video Interviewing a non expensive way to recruit with a positive ROI
Video interviews is recruitment designed to assist recruitment teams solve their biggest recruitment challenges without being over budget. In fact, video interviewing brings recruitment teams a positive return on their investment so that they are able to allocate their time and valuable budget to other areas within the recruitment process.
Pre-recorded video interviews enable recruitment teams to create a more efficient hiring process by decreasing
their average time to hire, reducing travel costs, providing insight into candidates’ personalities,
communication skills, social skills, etc.
Lets say your company has 10 positions open. You screen 10 candidates per vacancy. This equals 100 candidates. Average recruiters hourly rate is $35. Each recruiter spends 1 hour on each candidate (this includes phone and email tag to organise a telephone screening and 30 minutes for the telephone pre-screen call)
Total = 6000 minutes = 100 hours = $3500. On average you can review 8 video to one telephone pre-screen. Saving $2800. These are hard costs, the time saved can be used in other areas which results in increased productivity.
There are other huge savings and advantages. The candidate can do the interview in their own time therefore no need to organise times as well as no need to pay for travel expenses for interviews.
Hidden Cost Savings
Companies can brand and market their job or profile. The advantages of this is they can spruik about their company which can be a form of free advertising and can promote the differences from their competitors. One company that offers these service as an all inclusive video interviewing software package is FaceCruit.
As all candidates record their answers recruiters have better control (reviewing recordings) in managing their answers. Unlike telephone screening where the recruiter has to decipher their notes. This is time consuming and can lead to inaccurate deciphering. Some people get confused between Skype and Asynchronous video interviewing (one way). With Skype interviewing you still have to organise an interview time, just like a face to face interview. this can cause an extra amount of administration work. With Asynchronous video interviewing you can invite candidates to do an interview in their own time. You can create a cut off date for the candidates to apply with video. Unlike Skype, FaceCruit candidates do not have to have an account, they are supplied an email with a link. Not all candidates have Skype and find it frustrating and time consuming having to set up an account.
You can invite stakeholders to review and rate the candidates with a simple email and link. This reduces the time in organising meetings to discuss candidates, especially in the initial stage. What it actually does is give stakeholders an early involvement in the recruitment process without consuming their time.
Some resumes are not quite what your looking for, this doesn’t mean the candidate cant do the job. This may reflect candidates in sales, hospitality and customer service etc., where they have great communication skills but were not able to present this on paper. With video you can invite these candidates knowing that this will not dig in to your work load and give you a wider net to cast, especially when you have has a lower than expected amount of applications.
Video recruiting is becoming a more widely recruiting tool and there is no reason why you shouldn’t at least have a free trial or demo for you to make your own judgement.
Please click on this link if you would like a free video interviewing trial.