The main problems faced during the recruitment process these days is firstly, time consumption shortly followed by extensive costs.
On average it can take 6-8 weeks just to hire one person, and according to the 2012 Annual Resourcing and Talent Planning Survey Report by CIPD, one in three (33%) organisations report that they have lost potential recruits due to the length of their recruitment process. These figures tend to increase due to the size of organistaion with 59% of companies with 5000+ emplyees reporting the same reason for loss of potential hires.
Adapting to an online video interviewing process reduces the time spent searching for that perfect hire. Recording video, audio or text based questions on a one time only basis not only saves valuable time but as all candidates are asked the same questions in the same way, it ensures consistency and transparency whilst reducing regulatory risk.
What about the costs?
The costs incurred when hiring new employees are significant. From recruiting, attracting and then selecting a new employee can cost from anywhere between £975 and £3,250, depending on how many people are involved in the hiring process and their individual salaries.
Using an online video interview platform can not only significantly reduce these costs but greatly improve the quality of each new hire due to the ability to share and review candidate interviews with all involved in the hiring process.
So what do candidates think?
Research tells us that most candidates actually prefer this method of initial recruitment. They found that the branded interview windows gave them a better feel for the company and they felt more confident conducting a first round interview this way.
Although video interviewing may not be suitable for all businesses, the benefits for high volume recruiters are substantial, and I believe that it is only a matter of time before these changes are seen across the board.