How Can Video Interview Software Help Grow My Business?
Although resumes are good for screening candidates who apply for a position at your company, getting through hundreds of resumes and doing justice to each application is not an easy task for any recruiter. Interviews have always remained vital to the process of hiring recruits through one-on-one conversations with the candidates, which can reveal a lot about them in a short period and in a much better way than traditional resumes or cover letters.
While interviews are undeniably important to the recruitment process, conducting interviews by aligning schedules can be challenging both for the hiring teams and the applicants. Additionally, fitting an in-person interview into a busy schedule can be challenging for the candidates who are already employed in part-time or full-time positions and can not travel long distances for interviews.
Luckily, virtual interviews are becoming increasingly popular globally due to the convenience they offer to both the interview candidates and the hiring teams. With the ongoing COVID-19 pandemic and the steep rise in the popularity and use of MV maker, more and more businesses are shifting to virtual recruitment process video interview software that helps them hire remotely.
Video Interviews and COVID-19
According to independent statistics, the popularity of video interview services has increased by more than 500 percent during the COVID-19 pandemic. Due to the global COVID SOPs limiting physical contact to prevent the spread of the virus, physical interviews have become a thing of the past. Various video calling applications and desktop software that were previously used only for international communication have skyrocketed in popularity. Nearly every industry has made the jump from physical communication to online conferencing using various video calling media. Investing in a good video interview software can help you recruit employees with immense ease, saving you a lot of extra time, money, and resources that can be utilized elsewhere to help your business grow.
Types of Video Interviews
Two main types of video interviews can be conducted using video interview software:
Asynchronous or One-Way Video Interview
Recruiting teams usually have to go through the process of screening candidates using phone calls, a process that can be tedious and time-consuming. Asynchronous or one-way video interviews solve this problem by allowing recruiters to pre-record their questions and offer flexibility to candidates who can submit their answers at their convenience. Also known as on-demand interviews, these interviews are a good way for recruiters to get to know the candidates better than their resumes in the initial steps of the recruitment process.
Two-Way Video Interview
More common than asynchronous interviews, these two-way video interviews allow real-time conversations between recruiters and potential candidates. These interviews have become highly popular over recent years, particularly during the pandemic, since they allow businesses to connect to potential future employees using minimal resources and replicate the on-site interview process in a convenient virtual setting.
Most major corporations around the globe have adopted two-way video interviews as a standard during the pandemic to recruit employees locally and internationally. Dedicated video interview software like InterviewStream helps streamline the hiring process for your business by offering you various tools like scheduling, ATS (Applicant Tracking System) integration, video recording, applicant grading, etc.
Advantages of Using Video Interview Software
Here are some ways in which using video interview software can help enhance the growth of your business.
A good video interview software helps you connect with remote candidates in a fast and efficient manner. Since everything is conducted over the internet, distance is no longer an impediment to the recruitment process. While conventional in-person interviews limit the scope of candidates to your locality, you can easily connect with international candidates without the restrictions of time zones or long distances with one-way interviews.
Accelerated Hiring Process
Video interview software also helps you screen potential candidates faster than conventional interviews. Instead of spending days calling the entire list to screen suitable candidates, you can simply conduct virtual interviews and cut the recruitment time by up to 50 percent.
Low Recruitment Costs
Manual screening of interview candidates requires a large budget that can be spent elsewhere. As your business continues to expand, you will require more resources and manpower to hire new employees. Video interviewing can help reduce the recruitment costs for your business and eliminate the travel expenses for potential candidates by shifting to the online medium.
Better Digital Reach
Video interviewing software improves your reach to your target employment demographic by offering a better interview experience than a conventional interview. The younger segments of the population are more likely to respond positively to your business conducting interviews virtually, helping improve the digital reach of your business.
Eliminating Recruiter Bias
A streamlined interview process that uses cutting-edge video interview software like InterviewStream can help standardize your recruitment process and eliminate the commonly observed recruiter biases. While these biases are unconscious, they can prove to be a bad look for your company and turn off potential employees from your brand name.
With the help of video interviews, you can assess the communication and linguistic skills of potential recruits. It can be particularly useful if you are hiring customer-facing employees and can not simply rely on resumes to perform a qualitative evaluation of the candidates. With physical interviews becoming increasingly rare during the pandemic, video interviews can help recruiters get a better overview of the candidate and fill the gap left by the absence of conventional interviews.
While at first glance it is easy to dismiss this benefit of video interviewing, the fact remains that onsite interviews consume a lot more resources that negatively impact the environment, compared to virtual interviews. Since everything is conducted online, there is no need to travel, which reduces your contribution to vehicular emissions. Video interviewing also obviates the need for using paper to print out hundreds of resumes and other recruitment documents, saving resources and having a net positive impact on the environment.
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