How video interviews turn your recruitment cost-effective
Using new recruitment tools such as pre-recorded video interviews is not just about being able to attract and hire the best candidates. Companies need to use tools and strategies that allow to decrease the time to fill a position and reduce overall hiring costs.
So, how does one-way video interview help achieve that? There are many benefits associated with using pre-recorded video interviews in the recruitment process. Aside from helping recruiters screening candidates more accurately, it can streamline the hiring process and eliminate some of the traditional recruitment process’s pain points.
Pre-recorded video interviews help speed up the recruitment initial stages and improve the selection process. And while turning your recruitment efforts more effective, it allows you to have more control over the hiring costs.
How you can save time and money
Traditional recruitment processes are extremely expensive and tiring. Recruiters are overwhelmed by heavy (and unnecessary) manual workload, that includes spending huge amount of time screening CVs and conducting endless phone calls to try and find out which candidates should be invited to a face-to-face interview.
Travel costs are one of the things that can take a great piece of the recruitment budget. Many companies source for top talent globally and when the time comes when a candidate must present himself to the recruiters to discuss his motivations, his skills and be assessed in terms of cultural fit, those companies have to pay travel expenses. This is, of course, a shot in the dark. Only after meeting and assessing the candidate, will recruiters have a clear notion of his true potential.
Recruiters that use traditional recruitment strategies still take a long time to fill a position. On average, a job takes around two months to be filled. We all know that time is money, so reducing the recruitment cycle is a major goal for recruiters. But how to find the right candidate, faster?
The initial screening is one of the more critical stages of the whole recruitment process. Recruiters that use phone calls to screen candidates, normally spend around 30 minutes interviewing each applicant.
This is exactly where pre-recorded video interviews can help improving the recruitment process, turning it much more cost-efficient.
Using Video Interviews for an improved candidate screening
Saving time in the early stages of your recruitment process can have a much positive impact on your hire costs. One way to do that is by improving your candidate screening using pre-recorded video interviews.
Pre-recorded video interviews provide more information than phone interviews and the recruiter doesn’t have to be present when the candidates answer his questions. Unlike phone interviews, pre-recorded video interviews make it simple to recruiters to share the candidates’ answers with other members of the hiring team. Every recruiter can easily watch the candidates’ videos on their own time, share their thoughts on the applicants’ answers and then collective decisions can be made on which candidate should move to the face-to-face round of interviews.
Furthermore, when in doubt, recruiters can watch the videos as often as they like and make direct comparisons between candidates. This is mainly why pre-recorded video interviews are a better way of identifying and focusing on the best candidates in the early stages of the recruitment process.
It speeds up the recruitment process, given that recruiters can reduce a great amount of time usually spent with scheduling and conducting phone interviews. Reviewing candidates can also be done faster as recruiters can view the interviews and rate the videos on their own time.
This also increases productivity. Since recruiters don’t have to be on the phone with the candidates, they actually can screen a higher number of applicants with the same manpower.
Thanks to Pre-recorded video interviews, recruiters can screen more candidates and identify the best talent faster, which ultimately reduces the time-to-hire and optimises hiring costs.
3 Ways in Which Pre-Recorded Video Interviews Reduce Costs:
- Saves recruiters great amount of time
- Eliminates some administrative costs (phone calls, for example)
- Eliminates travel costs
3 Ways in Which it Improves the Recruitment Process:
- Improves and Streamlines the initial candidates’ screening
- Promotes a collaborative hiring process
- Reduces time-to-fill a position
Thanks for reading and see you next time!
Your team here at skeeled