Why are video interviews becoming more prevalent?
Video interviews help recruiters shorten the time to hire, provide new insights about a potential candidate and include remote applicants. A survey of 506 companies reported that 47% of hiring managers use video interviewing to shorten the time it takes to make a hire; 22% of those polled said they would “use video interviewing to help them reach candidates from other geographic regions.”
There are some clear benefits to using one way video interviewing as a recruitment tool.
When to use video interviews during your hiring process
Video interviewing has the potential to shorten time to hire while providing a great candidate experience, but only when used strategically. By one estimate, a recruiter can complete 10 one-way video interviews “in the same amount of time it takes to conduct one phone interview.” However, the timing is key; video interviews are best used at the beginning of the process.
The reason for this is two fold. First, video interviews allow a recruiter to broaden their pool of potential candidates. Video interviews make it possible for a hiring manager to get to know a candidate regardless of their geographic location or financial resources.
Some qualified candidates may be disqualified altogether from participating in the interview process due to travel and time costs. It’s one great way to remove bias from recruitment, as hiring managers are able to reach candidates of different backgrounds, cultures, and economic circumstances.
Video interviews, by some estimates, can save an organization 30% of their travel budget. Overall, video interviews should be used early on to screen candidates in, rather than exclude quality applicants.
Secondly, video interviews used early on can help recruiters manage the process more efficiently. More recruiters report that lengthy hiring practices hold back managers from filling positions.
Cost of traditional interviews
A traditional interview process takes an average of 23 days per candidate, and a lot of the time. Video interviews not only allow hiring managers to screen more people in at the beginning of the recruitment funnel, but also to save face-to-face interviews for the best candidates.
Employers can save valuable time and resources by only bringing in top candidates. Alternately, some companies do away with in-person interviews altogether.
The key takeaway? Add a video interview step early in the process, either as part of a skill test or to replace the phone screen. This can dramatically impact the quality of your candidates and cut down on some key KPIs recruiters seek to improve within the hiring funnel.