Every company wants to recruit and hire top talent for their team. There are a variety of recruiting methods used today, from traditional newspaper ads to modern eRecruiting strategies. Which recruiting method is used depends largely on the culture of the company that’s hiring. Let’s discuss a trend in recruiting preferred by some companies today: the video interview.
Types of Video Interviews
In general, there are two types of video interviews: live and pre-recorded. Live interviews are similar to traditional interviews, with the exception being that they take place online. Though the interview takes place in real-time, live interviews are often recorded, which enables employers to reference them at a later time.
Pre-recorded video interviews allow candidates to answer questions submitted by the hiring manager on their own time. The recording is then sent to HR or the hiring manager for review at their convenience.
What are the benefits of video interviewing?
Time saving. Convenience can never be underestimated. With the simple click of a button, employers can request video interviews with as many candidates as they’d like. Gone are the days of weeding candidates out with phone screens before spending hours scheduling and interviewing potential candidates.
A broader and deeper talent pool. When location isn’t a factor, the pool of potential candidates for a job inevitably widens. Interviewing international candidates becomes a viable option instead of an expensive undertaking.
Additional feedback. It’s often difficult to schedule an in-person interview so that everyone on the management team can meet with the candidate. Video interviews allow HR and management to review interviews at their convenience– and check out the videos as many times as they’d like before making a hiring decision.
How do video interviews reduce recruiting costs?
One of the most significant impacts of video recruiting is its cost-saving potential. Using video interviews in the recruiting process saves money in the following ways:
A simplified screening process. Hiring managers can potentially screen several candidates in the time it would take to conduct a single traditional phone interview. With less time devoted to inefficient screening processes, managers are able to focus their attention elsewhere, thereby increasing productivity.
Reduced travel costs. With video interviewing, it’s not necessary to pay travel expenses in the initial screening stages of the hiring process to bring the candidate to you. This can significantly reduce candidate travel costs. In global corporations, with hiring managers spread across the world, management travel costs are also reduced or eliminated due to video interviewing.
Reduced turnover. Having access to a broader pool of candidates enables employers to hire top talent. Hiring the most qualified candidates for the job leads to both increased productivity and decreased turnover.