Save 50% On Recruitment Costs Using Pre-Recorded Video-Interviews
The average full time corporate recruiter will participate in tasks associated with phone-screening and interviews on a daily basis. The tasks include; reviewing candidates and resumes, corresponding with candidates and scheduling and conducting interviews. These tasks are time consuming without any delay, but things always go wrong… whether it be a game of phone tag with a candidate or internet issues during a live interview. Together, these tasks and common issues consume 50% of the recruiters time.
It may sound unbelievable, but there’s a simple solution to reducing the time spent on this recruitment process by 50%.
PRE-RECORDED VIDEO INTERVIEWS.
Video interviews are video responses from candidates, which differ from Face-to-Face or Online Interviews (classified as ‘live’ interviews). How? Both methodologies reveal the same information about the candidate’s soft skills, personality and emotional intelligence, however, video interviews are a minute long whilst live interviews are AT LEAST an hour long.
Bingo, you’ve just discovered the greatest invention (excluding concealer)
Unsure how that saves recruiters time? Let me show you.
What is a Pre-Recorded Video Interview?
Lets start with the details regarding video interviews. During the application process, employers are able to ask questions that require the candidate to respond with a video answer. The collection of these responses is called a ‘Video Interview’. Although we recommend a minute per video answer, the length can be adjusted by the employer to suit their preference.
This technology unearths a three dimensional persona of your candidate by revealing their; qualifications, technical skills, work experience… as well as emotional intelligence, soft skills and personality. By viewing their video interview you’ll know their capabilities AND character.
From the collection of video recordings, you can narrow your candidate selection based on what soft skills are essential for your business, and which candidates present those required skills. You can view the videos anywhere, and at any time, and the videos are also saved to the application. The benefit of this? Recruiters can cross check a candidates’ suitability with another manager or executive as they can also view the video submission.
This is an important benefit as, although we try not to, we all display behaviours of unconscious bias. What I might find memorable and valuable, you may not.
How does this eliminate unconscious bias?
It provides candidates with the opportunity to present themselves beyond adjectives on a piece of paper, and allows the recruiter to make a judgement on the candidate based on more than a name, nationality or gender. It also allows multiple executives to view the same interview and make a unanimous judgement, rather than making decisions based off a single recruiter’s interview notes.
To summarise in a short sentence: Video Interviews save time, allow the recruiter to unearth the character of the candidate and eliminate unconscious bias.
Now that we’re complete aware of the details….
Let’s talk money.
So, how can I demonstrate the significance of saving time, without you personally experiencing the benefits?
Simple, let’s talk money.
Are you familiar with the saying;
According to Benjamin Franklin, your time is just as valuable as money. Therefore, if you’re saving time, you’re also saving money, right? So let’s talk dollars.
The figure to my right explicitly shows you how much money your company could save, purely by reducing the time spent on recruitment. These figures will change depending on the organisation and the time saved will vary between
40%-75%. Although figures might slightly vary based on; company, industry and organisation, you get the gist.
Time and money go hand in hand, and in saving copious amounts in one you’re also saving copious amounts in the other. If you’re not using video interviews, your company is spending unnecessary money on these tasks. As well as the monetary savings, imagine the endless possibilities for your recruiters if they had extra time to invest in different tasks.
Since we now know the monetary value of saving time, let me show you HOW to save it.
In order to comprehend the impact video interviews have on saving time, we must analyse the recruitment process.
Resumes and Interviews.
When an employer receives a candidates resume, they’re able to read about that candidates;
- Technical skills
- Work History
- Career Development
You’ll learn about the work history of the candidate, their claimed skills, and if they’ve worked for a reputable company you’ll also assume they have high working standards. But, is this really useful? A candidate will only focus their resume on their strengths, and never mention their weakness’. You’ll never read something similar to:
“Good with website development but to be honest I’m terrible with clients”
“I’m charming and will be well liked by your clients, however I have terrible communication skills so I don’t suit collaborative environments”
So, as a recruiter, can you read a resume and instantly picture your candidate? Of course not, you only have the knowledge they have told you. Although you know their skills and experience, you are uncertain of how they would interact with your clients and employees. This is why interviews are significant in the recruitment process.
The purpose of conducting an interview is to gain insight into the candidates:
- Emotional intelligence
- Communication skills
These are the key attributes that are essential for an employer to know BEFORE they hire a candidate. This information cannot be obtained through reading a resume. It can only be obtained from viewing the way a candidate presents themselves, engages in conversion and communicates.
As we’ve discovered, a resume outlines a candidates experience and work history, and interviews are significant in a) reassuring the skills and attributes listed in the resume are correct, and b) peeling the layers of your candidate and discovering how they could be valuable to your company.
This is the recruitment process. As you can see, it is lengthy and time consuming.
How do I cut recruitment time in half?
The secret is this. Video Interviews is a powerful combination of a resume AND interview. If you utilize video interviews, you’ll have insight into the candidate’s emotional intelligence, communication skills and personality BEFORE contacting them. In other words, video interviews replace a live interview.
You’ll be able to narrow the applications based on a three dimensional knowledge of each candidate, be more selective in which candidates you invest time in, and immensely reduce time spent on phone screening and in unsuccessful interviews. Therefore, video interviews will cut the time spent on recruitment in half by providing more information about the candidate than a resume, which results in less candidates, which results in less phone screening tasks and a shorter, more efficient recruiting process. A bonus? They’re also more cost efficient than live interviews!
This is the reality; Face to Face Interviews and Skype Interviews are synonymous in how much time they consume, both interview methodologies will require at least an hour of your time… and let’s not forget the time consumed organising the interview. As well as this, unconscious bias will always be prevalent when viewing a resume and differs between recruiters.
The ‘Video Interviews’ on our platform are PRE RECORDED, providing you with the flexibility to watch them countless times, at any time, are a maximum of a minute long, AND offer the same insights as live interviews. They put a face to name and personality to resume BEFORE any screening. By saving time on screening and interviewing, the time spent on recruitment is cut in half. Thus, pairing Video Interviews with your excellent hiring insights and skills, results in a powerful combination.
Need more convincing? Here’s five reasons why you, as a recruiter, need pre-recorded video interviews.
Instead of continuing to tell you how Video Interviews saves time, why don’t you experience it yourself? My Recruitment+ have ZERO joining fees.
Explore Video Interviews here.
Work smarter, and not harder.
Until next time!