As a business leader, you understand the only way to grow your company is to hire the best people. But finding the right employees for your organization is far from easy. It’s costly, time-consuming, and after all the time and effort, you often end up with a dud hire.
You’re most likely very familiar with the traditional job interview where you meet with a recruiter or hiring manager face-to-face in their office. Nowadays, companies are implementing video interviews into their hiring process to better and quickly connect with candidates.
One of the most modern elements of the hiring and recruitment process is video interviewing. It is easier to organize, cuts costs and allows for re-evaluation later on. if you are not conducting video interviews regularly, you are not just behind the theoretical curve of progressiveness in HR practice you are actually placing yourself at a real disadvantage to the wider marketplace when it comes to the field.
Why? Because in truth, the video interviewing strategy should be ‘done and dusted’ and should be a core part of the hiring process. Employers should be focusing on integrating new technologies like big data and mobile technologies into their interview process to give their talent attraction processes greater competitive advantage.
Below are the six four ways video interviewing can help you beat your competition and win the war for talent:
An Aberdeen Group report, ROI of Video Collaboration, found that 72 percent of managers surveyed identified “reduction in travel costs” as the primary reason for using video interviews. So, there is no question that video can reduce both the travel expense costs (of candidates and interviewers) and lost effort/travel time associated with face-to-face interviewing. These cost savings are multiplied when international talent/interviewers are involved
2. Get top talents faster
Today’s most talented candidates are busy and in demand, and if you want to attract them you must start to build flexible hiring processes that enables you to effectively engage with this elusive top talent. One of the best ways to do this is to use video hiring as standard at first interview, making it easier for you to connect with top talent in a non-committal way.
This approach is far more convenient for candidates, which means talented time pressurized candidates will be more likely to interview – and interview sooner – with first round video interviewing than if they had to meet face-to-face. It may be easier for you to coordinate your own internal interviewers for video interviews, (especially those who do not work at the interview location or who are in different countries),
3. Expand Your Candidate Pool
The skills gap is making it tough for even the biggest employers to find the right people. By the year 2020, according to research by Georgetown University, the economy will see a shortfall of five million skilled workers. This means the skills gap problems of today are only going to be worse tomorrow, and smart employers need to get prepared.
One way to do so is to expand the search and start to look outside your local candidate pool. Video interviews can help you connect with candidates around the corner or around the globe.
Just because the candidate with the right skills doesn’t exist in your company’s backyard doesn’t mean they don’t exist somewhere. Using video interviews to open up the process to far-flung candidates means you can widen your candidate pool and find a new hire with the right skills.
4. Access to international talents
Rather than a talent shortage, many experts are beginning to talk about a global talent mismatch. That is, there are talent shortages in some regions of the world and surpluses in others which can cause business to outsource or offshore to international locations. Video interviewing is a crucial tool to enable you to efficiently and cost-effectively assess and engage with off-shore talent, helping your business address its talent needs and expand into new markets.
5. Connect with passive candidates
Passive candidates are highly sought after since their current roles demonstrate they have the skills and abilities to fit your open positions. Best of all, few candidates are entirely passive anymore. A recent study by CareerBuilder showed 77 percent of currently employed workers were open or actively looking for new opportunities.
The drawback to passive candidates is their packed schedules. It can be hard enough to coordinate an interview with your team and a motivated candidate with a flexible schedule. Passive candidates can sometimes feel downright impossible to pin down.
Video interviewing can be your secret weapon for connecting with busy passive candidates. These candidates can connect with you in real-time using a live video interview or even just answer your questions at their earliest convenience using a one-way video interview.
These asynchronous interviews can even be recorded from a mobile device, meaning passive candidates truly can interview from where life takes them. Being able to connect with passive talent can surely give you a leg up on your competition, and help you scoop up the best new hires.
As a business leader, you know great employees are needed in order to grow your company. Video interviews can become your secret weapon to connecting with the best people, cutting costs, and expanding your candidate pool so you always hire the right talent.
6. Multimedia enriched experience
This is often the most exciting and overlooked aspect of video interviewing, and the primary reason it should not just be seen as a second class citizen to face-to-face interviewing. In fact, there are distinct benefits from having the interview occurring in cyberspace; that is, the interview becomes a live multimedia-enriched interview experience where you review and discuss the interviewee’s social media profiles, online portfolio, live work samples, and/or presentations on slide share right alongside the interview discussion.
The hiring managers can also share their own content with the interviewer for comment and discussion and see how well the candidate interacts with the interviewer in cyberspace, and how much the candidate’s working style is integrated with technology.
As you can see, video interviewing brings huge benefits to your hiring process in terms of cost reduction, increasing speed of hiring, and increasing flexibility. These factors will ultimately enhance your ability to attract critical talent in today’s competitive candidate market.