Whether you’ve tried them or not, I’m guessing you’re familiar with the invasion of video interviews. When they infiltrated organizations several years ago, maybe you thought they were just a phase and wouldn’t stand the test of time, yet here we are. Video interviews have been used by an astounding 60% of organizations across the US and that number grows every year with some businesses using video interviews to manage drastically increasing hiring volumes.
What is it that makes video interviews so special? We asked talent acquisition and HR professionals the number one reason they preferred to use video interviews and the overwhelming majority said the same thing - they save money. While you might not think that investing a video software platform would make a difference in your talent acquisition budget, they can actually save organizations millions of dollars on travel. Plus, by creating a more efficient process for recruiters and hiring managers to collaborate and interview candidates, they save time, which saves organizations money. It’s simple math.
Here's why video interviews are here to stay:
Video Interviews Save Money - Video interviews are proven to save money by significantly reducing travel costs and by saving talent acquisition teams time during the hiring process, allowing them to hire more efficiently and quickly so they don’t lose money on unfilled positions. Because time to hire, efficiency, travel and quality all relate back to costs, video interviews keep every aspect of hiring running more smoothly so that organizations can stay on budget.
Video Interviews Increase Time to Hire - Hiring quickly is extremely important to keep teams productive during turnover, and while the average time to hire has increased to 68 days, video interviews can help reduce time to hire by breaking down geographical boundaries and connecting people more easily. Instead of waiting for convenient travel times or candidates having to miss work for interviews, all parties can join virtually to move candidates through the hiring process faster without compromising on quality.
Video Interviews Improve Efficiency - By incorporating video interviews into your organization’s hiring process, you create a more efficient way to screen applicants and interview candidates that’s easy to track and share. Specifically, by replacing traditional phone screens with recorded video interviews, organizations can save time early in the hiring process and review a bulk amount of candidate submissions anytime, anywhere, on any device and gain more insight into their strengths, experience and communication skills than a phone call or resume alone.
Video Interviews Build Employer Brand - When organizations choose a professional video interviewing solution, they also gain valuable branding opportunities they can’t get with free video chat software. Users have a positive candidate experience and branded experience with video interviews that generate custom meeting rooms branded with logos and corporate photos, videos and documents that mimic the experience they might have inside of the company’s offices. Organizations can build a positive employer brand this way, demonstrating their innovative nature, corporate branding and even personality.
While there are many more benefits to video interviews (you can read about more of them here), these main four reasons prove that video interviews are becoming more and more common in business as a way to screen and hire new employees. Because technology evolves and improves so quickly, video interview technology has been able to benefit from technology innovation over the years and we can expect that it will continue to improve with new features. If you haven’t already, learn more about video interviews and why they’re worth the investment in your talent acquisition strategy.