7 Stats That Will Get You Interviewing Online
7 Stats That Will Get You Interviewing Online
by Modern Hire on July 20,2018
3 min read
As interviewing platforms have matured the time is right to modernize your hiring. These stats may be your latest motivation to start interviewing online.
Thinking about adding interviewing technology to your hiring workflow? Though many organizations have already adopted this innovative technology, you?re not alone if you?ve waited to see its impact before making the investment. As interviewing platforms have matured, and HR continues its digital transformation, the time is right to modernize your hiring. The following stats may be your latest motivation to start interviewing online.
66% of job seekers move on within two weeks. ?
If you?re having an issue with candidates dropping out of your process, it could be your hiring is too slow-moving for today?s candidates. According to CareerBuilder, two-thirds of candidates say they will wait less than two weeks to hear back from an employer before they consider you a lost opportunity and move on to others. Fourteen days isn?t a lot of time, especially with high-volume hiring, but modern candidates expect faster interaction and less wait time between steps in the process. Interviewing online accelerates hiring by streamlining hiring. On-demand text and video interviews help recruiters improve their efficiency, so they can identify the most qualified candidates faster.
72% of Millennials browse job opportunities on their phones.
Candidates between ages 22 and 36 are now the largest generation in the workforce, and they?re looking for your jobs on their mobile devices. Will they find you? More importantly, will you be able to keep their attention once you capture it? While interviewing online, candidate can use their phone to
- schedule an interview
- participate in a brief pre-qualifying text interview
- present their skills, experience and enthusiasm for the job in an on-demand video or audio interviews
- connect live with a single recruiter or hiring manager, or do a panel interview
Video interviewing platforms that are purpose-built for hiring help TA teams take their process digital.
Up to 80% of turnover is due to poor hires.
Harvard Business Review estimates that 80% of retention issues can be traced to poor decisions in hiring. ?Interviewing online helps TA teams improve quality of hire by improving recruiter efficiency, which enables recruiters to identify qualified candidates more quickly and devote more of their time to getting to know these candidates. Interviewing software makes collaboration between recruiters, hiring managers and an entire hiring team easier and more convenient. When industry-leading, proven assessments are integrated, online interviewing enables smarter hiring decisions.
72% of recruiters believe automation and artificial intelligence (AI) will change their work.
A large majority of recruiters recognize that their approach to hiring will need to evolve as automation and AI become more prevalent. Video interviewing is leading the way with innovations in automation and AI that allow recruiters to take a more strategic role and stay more connected with their candidates.
70% of the 2017 CandE winners use video interviewing.
Nearly three-quarters of the organizations who earned Talent Board?s Candidate Experience Award in 2017 have video interviewing software. The remaining 30% are considering it, and Talent Board reports that video interviewing is a Top 5 recruiting investment in 2017-2018. ?For companies who make a fast, simple and convenient candidate experience their priority, video interviewing is essential technology.
What do candidates think about interviewing online?
In many ways, video interviewing platforms help organizations deliver a better hiring experience to their candidates, one that?s faster, simpler and more convenient. Online interviewing reduces wait times for candidates, and can be used by recruiters to drive more frequent communication and updates. ?It also supports recruiters? mobile strategy, making it easier for candidates to connect on devices and in ways they already use every day. Most candidates embrace the technology:
- 84% of candidates schedule their interview within 24 hours of receiving a text invite. Text recruiting via a video interviewing platform is fast becoming a preferred strategy for TA and candidates alike due to its convenience. ?According to Modern Hire use data with a global client base, 84% of candidates respond very quickly - within 24 hours - to a text invitation to schedule their interview. Text recruiting offers a speedy, simple and convenient experience for candidates, and greatly reduces recruiters? administrative work time.
- 98% of candidates interviewed via video said the employer was innovative. Online interviewing can positively influence an organization?s talent brand, and reinforce a technology-forward message. ?Nearly all of the candidates who participated in a survey after a Modern Hire video said the prospective employer was innovative and forward-thinking.
How to Make the Business Case for Video Interviewing
Most video interviewing platforms are built in the cloud, so costs are lower and implementation takes less time than a legacy system. Still, it's an investment that must be researched, reviewed and approved, especially since most HR budgets remain flat. If you?d like assistance developing your proposal for a video interviewing solution, download 6 Strategies to Make Your Business Case for Video Interviewing. You?ll find resources that can reduce your work, help you build consensus, and increase your odds of winning approval.