The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve Asia’s social and economic outcomes. Headquartered in Beijing, AIIB began operations in January 2016 and has now grown to 103 approved members worldwide. By investing in sustainable infrastructure and other productive sectors in Asia and beyond, AIIB will better connect people, services, and markets that over time will impact the lives of billions and build a better future.
AIIB introduced Automated Video Interviewing in early 2020 for their Investment Analyst / Associate roles. Before using Automated Video Interviews, candidates were selected to attend an in-person panel interview with five interviewers [Hiring Department x2, External Department x2, and HR x1] based on their CV.
“We no longer base everything on the CVs. Automated Video Interviews give candidates the chance to better express themselves and that gives us a clearer picture as to who to engage for the next step. Flexibility was another bonus, being able to watch the interviews at our own pace.” – Brian Carlo Hipolito, Human Resources Officer, AIIB.
Time Savings: Faster Shortlisting
The first recruitment drive timeline coincided with the Chinese New Year approach. Therefore all stakeholders committed to reviewing the videos within one week.
“The viewers were situated in different parts of the world. We were able to finalize the shortlist in 1 week. Normally it takes 3 to 4 weeks.”
Time Savings: Fewer Panel Interviews
The CV screening of over 2,000 applicants resulted in 42 candidates. Before implementing Modern Hire Video Interviewing, AIIB would have invited all to attend a 30–40 minute panel interview with five interviewers.
“After watching the 42 Modern Hire interviews, we invited only 15 to come forward. We saved 27 panel interviews, which quickly adds up person-hours with five interviewers per interview.”
Better Quality Candidates Shortlisted
AIIB maintains that Automated Video Interviewing afforded them a better quality shortlist, which enabled them to conduct the panel interviews in more depth. Because of improved shortlisting, AIIB use the time to assess the candidates’ motivation and technical skills.
“The most value was in the quality of the shortlist. The hiring managers were quite pleased with the candidates they met. When you’re basing decisions on CVs alone, there is always the risk of bringing unsuitable candidates to the panel interviews.”
More Confidence and Involvement
The Hiring Managers can now conduct more in-depth assessments of candidates, and as a result, all parties have more confidence in the quality of the shortlist.
“It gives us added confidence in the choices we make. You think to yourself, I watched the person’s video interview myself! I have more evidence to back up my decision. Before, our decisions are made on just the CV.”
Given the volume of applications and rigorous shortlisting, AIIB maintains that Automated Video Interviews are a welcome addition to the Candidate Experience. “Before, there wasn’t any way for candidates to show their personality. Now, there might be some solace in knowing they had the opportunity to show their personality instead of being dismissed at the CV stage.”