Research shows video interviewing is the way to go
Video interviewing has opened many doors in the world of recruitment. Instead of taking a huge bite out of a company's recruiting budget like traditional in-house interviews can do, virtual recruitment allows an organization to expand its scope of candidates in a quick and cost-effective fashion. For this reason, it has rapidly become a hot trend in recruiting and is sure to be a hiring method that is here to stay.
According to a 2011 study conducted by the Aberdeen Group, titled "Talent Acquisition Lifecycle," 42 percent of the 506 organizations who participated in the survey stated that they used web-based video during interviewing. This is a major increase from the 10 percent who reported using video during the hiring process in 2010. What is luring all of these companies to use video interview during recruitment? Essentially, it's that virtual interviewing is a more effective, cost-efficient way to attract and engage top-notch talent.
With virtual recruitment, your company doesn't have to spend a fortune on travel expenses and hotel rooms for the candidates you want to meet face-to-face. Video solutions like Montage allow you to meet with applicants in a matter of seconds, no matter where they are located. With the job market becoming increasingly competitive and skill demands for positions becoming more specific, you can't risk losing a qualified candidate because they are located across the country. With video interviewing, you don't have to.
In addition to engaging the best talent in the industry, video interviewing also increases your chances of becoming a Best-in-Class employee, according to Aberdeen's research. In the report, Best-in-Class performers were defined as having 95 percent of employees retained after one year, boasting a 16 percent increase in year-over-year satisfaction of hiring managers and having 82 percent of employees able to hit 12-month milestones on time. Those companies who used web-based video were twice as likely to achieve this distinction.
Furthermore, the Aberdeen study discovered that an organization utilizing video interview typically has strong key performance indicators. In fact, 54 percent of the survey's respondents who used video solutions achieved their KPIs, whereas only 43 percent of respondents who didn't use video solutions managed the same feat. Likewise, 46 percent of respondents who used video said their new hires were meeting productivity goals, while only 35 percent of those who didn't use video could say the same.
The numbers are in and they are all pointing toward video solutions' ability to improve general productivity and business growth. If your organization hasn't been implementing virtual recruitment into your hiring process, what are you waiting for? The best candidates are now only a webcam-enabled interview away.