8 Video Interviewing Facts to Transform Your Hiring Process

60%. That’s the percentage of recruiters who currently use video interviews to hire employees and that number is only increasing.

Why? Because those recruiters have experienced first-hand how video interviews can transform and elevate your hiring process. They save time & increase efficiency, eliminate scheduling issues, improve the quality of hire, remove graphic constraints, and improve the candidate experience. And that is only the short list of benefits.

interviewstream has compiled a list of eight facts to show you how this modern approach to the interview process will transform your hiring process so you can join the group of forward-thinking recruiters who are already reaping the benefits.

1. Convenience & Flexibility: Video interviews provide flexibility for both employers and candidates, allowing both to connect from anywhere with an internet connection. Additionally, using an interview scheduler to set the time and date, cuts employers’ interview scheduling time by 84%, while 81% of their candidates schedule within 24 hours.

   And let’s not forget interviewstream’s video playback speed options that allow you to save time reviewing interviews and focus on specific parts of the interview, providing you the ability to assess candidates with more detail and efficiency.

2. Time and Cost Savings: The average cost per hire is $4,700. But many companies estimate cost per hire to be 3-4x that number. You are looking at 40% hard costs and 60% soft costs (the time leaders and managers invest in the hiring process). Video interviews greatly reduce the cost and time. interviewstream virtual interviews cut costs by 45% per hire.
3. Global Reach: Your top candidate on paper resides in a different city, state, or even country? No problem. Video interview software transcends geographical barriers, enabling organizations to connect with top talent from around the world without the constraints of traditional in-person interviews. interviewstream allows organizations to increase their candidate pools by 33%. Never miss out on a candidate again due to geography.
4. Enhanced Candidate Experience: Video interviews enhance the candidate experience by providing a more modern and accommodating interview process. Candidate experience is all about simplification, reducing time-consuming processes, and empowering your candidates. interviewstream tools create the ideal candidate experience by:
• Flexible completion from candidates — when flexibility is exactly what your candidates want.
• Scheduling flexibility for both candidate and employer.
• Custom branding and video to explain culture, mission, job description, etc. keeping it simple for you candidates to obtain all the information they need and for you to make a positive impression.
• Virtual backgrounds which allow candidates to convey their personality and creativity and eliminate the stress of creating the perfect interview space.
5. Improved Collaboration and Evaluation: Hiring teams need to be on the same page. Video interviews can be viewed by all team members at any time, allowing for better collaboration and decision-making. You can also take it a step further and customize your evaluation and questions. This tool allows you to create a unique interview guide for each role, keeping your interview structured to consistently evaluate hard skills, technical skills, and cultural fit. This way the whole team evaluates competencies related to the job.

   Tip: interviewstream even has a compare-by-question feature allowing you to compare all candidates by specific questions, and dig down into rating summaries for each question and reviewer.

6. Customization and Branding: Your employer brand is the perception the potential candidates have of your company and influences how you attract, engage, and retain talent. Branding and customization options in video interviewing platforms allow organizations to tailor the interview experience to reflect their brand identity and values. Although it may seem like an aesthetic decision, it guides your candidate through their interview process, ultimately creating an impression on your candidate.
7. Data-Driven Insights: Need to improve your completion stats? Or benchmark your organization against the industry? Video interviewing platforms provide data-driven insights that enable organizations to track key metrics and refine their recruitment strategies over time. This tool allows you to get insight into your hiring trends, compare your metrics against others in the industry, and improve your digital hiring process. It will give you recommendations and tips on how to improve your stats. At its core, it gives you practical, actionable feedback about your hiring process.
8. Useful Beyond Traditional Interviewing: Video interviews are not limited to screening and later-round interviews. They can also be used for onboarding and reference checks. You can dramatically increase retention using a structured onboarding process. Implement video into your orientation videos to save time, and into your 30-60-90 day feedback interviews to get more honest and useful information to improve your onboarding process. You can even level up your reference checks using video software.

   *Those are only a few of the ways you can utilize video interviewing software beyond traditional interviews. Check out our blog here on more unique ways to leverage the technology!
   

Lights! Camera! Action!

From convenience and flexibility, saving time and money, to an enhanced candidate experience and improved collaboration and beyond. What more could you ask for? All the benefits of implementing video interviewing software into your hiring process lead to the same result – a stronger team with a better bottom line.

So if you are ready to get started, speak to one of our team members today and let us help you transform your hiring process!

About The Author

Drew Whitehurst is the Director of Marketing, RevOps, and Product Strategy at interviewstream. He's been with the company since 2014 working in client services and marketing. He is an analytical thinker, coffee enthusiast, and hobbyist at heart.