In an old DirectTV commercial, a man with a Russian accent sits in his giant, gold-filled house. “Opulence, I has it,” he declares, staring lovingingly at his miniature giraffe.
Some employers and recruiters imagine this is the lifestyle you must lead if you want to implement video interviewing.
Truthfully, video interviewing isn’t anything close to a luxury recruiting tool. Currently, six in 10 companies use video interviews in the hiring process, and these companies range from high volume staffing companies to small-scale startups.
You might not have your own miniature giraffe or gold-plated desk, but you can still utilize next-gen recruitment technology to find the best candidates. Here are just a few reasons video interviews aren’t only for companies sitting in the lap of luxury:
Not trendy, trend-setting
A big concern for any new recruiting technology is whether the tech is a passing fad or here to stay. When it comes to video interviewing, however, it only makes sense that more companies will start to adopt the technology.
First, the talent pool willing to use video technology will only grow in the future. Unlike trendy technology that burns bright and fades fast, online video adoption will only trend upwards. According to comScore, 188.7 million Americans watched 46 billion online videos in September 2013 alone. So, the comfort level with online video technology is only on the rise.
Similarly, the most tech-savvy generation is undoubtedly the Millennials, who grew up as digital natives. Soon, companies will need to consider new ways to talk more specifically to Millennial talent as Gen Y begins taking over the workforce.
Today, there are 40 million Millennials in the job market, but by 2025, Millennials will dominate with 75 million tech-savvy workers.
Companies will need a way to reach these young, digital obsessives.
Video interviewing can be a great way to do so, combining new technology with the personal connection Millennial candidates desire. Far from being a passing trend or a flash in the pan, in all likelihood the demand for video interviewing will only intensify in the future.
You don’t need millions
If you’ve worried video interviewing will be too expensive for your company, it’s time to put aside this concern. You don’t need to be Donald Trump with a gold-plated webcam in order to find the best candidates and connect personally in the recruiting process.
Video interviewing, especially interviewing done on a cloud-based platform, isn’t expensive at all. Your company doesn’t need to be any particular size in order to connect personally with candidates in the video interview.
Whether you’re running a high-volume staffing company, a Fortune 500 giant, or a startup that needs the best people, video interviewing is within your budget.
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The reality is that not only are video interviews affordable, they’re also cost-saving. Video interviews can help streamline your recruiting by cutting out some of the inefficiencies of the typical hiring process.
For instance, the typical phone screen can take up to 30 minutes to complete. Most seasoned HR pros or staffing superstars know within the first 90 seconds whether a candidate will be a good fit. This leaves you stuck on the phone for 29 minutes or more with someone you’ll never hire.
In a one-way video interview, candidates answer an employer’s written questions on video. This means if the person isn’t right for the position you can move on to someone more suited for your opening without hanging up the phone.
So, it should come as no surprise that a study from the Aberdeen Group found hiring managers can watch 10 video interviews in the time it takes to perform only one phone screen.
Out of town talent can also typically set you back a pretty penny in the traditional recruiting process. After connecting using phone interviews, the final stage is usually to fly in talent for an in-person meeting. With the price of airfare and hotels steadily rising, this can get plenty expensive.
Connecting with candidates in real-time
Using a live video interview where you can connect with the candidate in real-time, you can get the face-to-face interaction you need without anyone needing to buckle off for takeoff.
You may think video interviewing is a luxury tool only the biggest, richest companies can afford. The truth, however, is video interviewing is a tool every recruiter should consider adding to the tool box without needing to break the bank. After all, you don’t need a golden webcam to find gold star candidates.
What do you think? Are you using video interviews?