With the advancements video technology has made since it first became popular a decade ago, more organizations are wondering if the software is right for them. While a video interview software is designed to help any company — big or small — with its recruitment process, large or enterprising corporations and Fortune 500 companies can benefit the most from this kind of technology.
Large corporations and Fortune 500 companies have the benefit of being part of the most successful organizations around. While this comes with many benefits for both the staff and the company, it can also cause problems when recruiting. Being known as a major company attracts many applicants with a large number of them applying just because a job is available, not because they’re qualified for it. Trying to sift through those applications is a full-time job in itself and doesn’t even touch the other aspects of the hiring process.
So, what exactly are some of the problems that come with recruiting for a large or Fortune 500 company and how can video hiring help?
There are many benefits to working for a Fortune 500 company or a large organization, some of which include the number of people hired, multiple locations to work out of, and the opportunity to work for one of the best companies in the world.
Due to the mass number of people applying to open positions, large corporations need to be more careful about who they screen out. The amount of people you’re reviewing makes it easy for a recruiter to accidentally push an unqualified candidate ahead while eliminating someone else who would be perfect for the job.
Some of these companies also have stricter policies in place, which can significantly lengthen the recruitment process. Michael Klazema, a blogger with CareerMetis.com hit this point on the head with one of his posts. “… Because of the steep competition for [Fortune 500] jobs, the interview processes are often longer and more in-depth than you would expect from smaller businesses,” he wrote. “Your interview process could take anywhere from a few weeks to a few months (depending on the company and the job) and will likely involve several phone or online interviews followed by in-person interviews, skills testing, or employee job shadowing.”
A long interview process can cause a multitude of problems for recruiters, number one is the poor candidate experience which comes with it. A negative experience can mean you’ll miss out on some candidates because they accepted another job elsewhere or because they got frustrated with the wait and decided to drop out of the race.
Usually, a long process isn’t because the recruiter wants it to take forever complete, it’s because they need to ensure the quality of their candidates are top-notch. There aren’t many options for recruiters which promise a fast recruitment process without sacrificing quality, but video interviewing software can do that.
Video interviewing software is proven to speed up the recruitment process while maintaining a high level of candidate quality. In fact, Samantha McLaren wrote an article about how a variety of major companies reduced its time to hire, one of which did so using video interviewing software.
The company had a time to hire of 42 days, making it difficult for it to compete for top talent, McLaren wrote. The company investigated and found the interview phase was the main reason why it took them so long to complete the hiring process. The company found a solution, though, in video interviewing software.
The company found a video interviewing vendor and was able to interview multiple candidates at the same time using pre-recorded video interviewing, McLaren reported. On-demand video interviewing allows candidates to record their answers to your questions via the internet, meaning a recruiter doesn’t have to take the time to call all the candidates to do a phone interview. Once the candidate has completed the interview, the recruiter gets notified and can review the videos on their own time.
“The results of this new approach were staggering,” McLaren wrote. The company was able to drop its time to hire from 42 days to five days.
By using one-way video interviewing, your company can automate the screening process. It can even go so far as adding kick out questions and if the candidate gets the answer wrong, the recruiter can remove them from the process without wasting time by sitting through an entire interview.
Pre-recorded interviewing isn’t the only option a company has either. By using live video interviewing to replace the first in-person interview, you’ll be able to maintain the experience of meeting a candidate in person without wasting extra time setting up an office for a day of interviews.
Live interviews work by connecting the recruiter with the candidate through the internet. Either party can use a computer with webcam and microphone capabilities, a tablet, or a smartphone to complete the interview. The applicant can complete it from the comfort of their own home and the recruiter doesn’t need to leave their desk to meet the candidate. This technology significantly speeds up the time it takes to get through this stage, thus completing the recruitment process as fast as possible.