As a talent acquisition pro, you’re the key to your company’s success. And if you’re in marketing, counseling or therapy, finance, or any of these other predicted ‘booming’ industries, the pressure is on to grow rapidly.
Of course, a higher demand on talent acquisition typically means a greater strain on your hiring budget. The great news is, the new year presents your team with replenished funds. However, many hiring pros say their budgets just aren’t cutting it.
In fact, of hiring pros who responded in our How to Make the Most of Your Hiring Budget report with budgets between $1,000 to $5,000, only 34% say their cost per hire is actually less than $1,000.
If you can relate to these limitations on your hiring strategy, it’s crucial your team invests in tools and resources with only the best ROI. One of the tools with the best ROI from those we surveyed is video interviewing. Here are five ways adding video interviews to your hiring process simplifies rapid growth hiring without overextending your team:
Improves interview scheduling efficiency
The interview scheduling process is time-consuming — and often complicated — because you must align multiple schedules. The complexity of this process increases as the number of potential candidates and open roles rise.
Unfortunately, with candidates in control of the market, you have no time to waste scheduling interviews and quickly moving the process forward. This is especially important during periods of rapid growth because you have exponentially more schedules to coordinate in less time.
While you cannot create more time, video interviews, fit into virtually anyone’s schedule. First, one-way video interviews allow your team to invite talent to submit their interview responses at any time that works for the candidate. Second interview scheduling tools allow candidates to schedule live video interviews or in-person interviews.
Either way, they’re in control of putting themselves — conveniently — on your teams’ schedule. Better yet, scheduling to meet in-person can be reserved for later in the hiring process with only top-qualifying candidates.
Reduces early candidate screening time
Extensive early candidate screening extends the hiring process, making it more complicated and expensive for your team while creating longer (and riskier) wait times for candidates. Video interviews can cut early screening times down to as little as 15 minutes.
Early screening isn’t the only beginning interview step that takes tons of time. Video interviews eliminate the need to adjust schedules due to issues with travel or candidates needing time off work. Additionally, they assure you’re effectively assessing all areas of fit for candidates who transition through this period of rapid growth.
Standardizes the interview evaluation process
It’s no secret candidates have increased expectations. They want to feel they’re evaluated fairly and measured consistently against all competition. Without a structured interview process, ensuring candidates they’re being evaluated fairly is nearly impossible.
Video interviews enable you to simplify the structure of your interview process even further. Your hiring team can create questions for each open role and all candidates interviewing for those roles respond to the same questions.
This drastically reduces confusion and bias when reviewing and assessing candidates because all decision-makers review the exact same interviews and then rate each candidate against standardized evaluation criteria.
Simplifies communication with candidates
You have limited opportunities to communicate with job candidates during the hiring process. Limiting yourself on those connections leaves you susceptible to damaging the candidate experience. In fact, 81% of job seekers say employers communicating continuous status updates would greatly improve their overall experience, according to a recent CareerBuilder survey.
Of course, frequent communication is ideal and you want to have a positive candidate experience. However, when you’re hiring during a period of rapid growth, this feat is daunting and unrealistic. In reality, you could spend every hour of your work week just communicating with candidates.
Personalized video messages are pre-recorded and branded to your company. A quick 30-second video check-in straight from you to the candidate feels more personal than a canned email update. While candidates receive a custom update, you’re streamlining the process by only hitting record once.
Streamlines team collaboration and decision-making
You’ll need more team members than ever as you commit to rapid growth. Hiring a greater number of employees means your team has the potential to burn out faster. Unfortunately, adding more people to your decision-making team makes collaboration more challenging.
Video interviews allow for an all-hands-on-deck approach without the complication of coordinating schedules. Instead, you share video links with everyone whose opinion is needed during each stage of the hiring process. Video interview collaboration also allows you to see who has reviewed and provided feedback. If there’s a hangup in the process, you’ll know exactly where it is and what to address.