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Ways That You Can Make Good on a 5-10X ROI Promise

For most of our clients, the decision to adopt a video and voice interviewing solution is made only after thorough research and much consideration. In many instances, they’ve built a business case that demonstrates the value of our technology and expected return on investment to their leadership. We may have even provided some resources they used for that business case. So once the partnership is inked, our role with our clients’ success is just beginning. In fact, helping clients maximize ROI is a never-ending process at Modern Hire.

Measuring Adoption In-Depth

Our clients’ investment in video interviewing begins to pay off in weeks, with a benchmark 5-10X return through both strategic and operational cost savings. To measure ROI, we start by measuring adoption closely during our client’s initial use. It doesn’t mean just counting up interviews week after week, though. We look at a variety of variables: new recruiters added, new jobs or positions added, expansion to new divisions or countries, volume of invitations sent, use of features such as self-scheduling, question and answer configuration, adding job-specific videos into the client’s virtual foyer, anecdotal stories of how the technology has improved a work flow or process, and more. With this data, we can bring insights to each of our clients that keep adoption going strong.

An investment in video interviewing starts to pay off in weeks, with benchmark 5-10X ROI.

Multi-Level Reporting & the ROI Calculator

The integration of video and voice interviewing often creates a responsibility to report on its use and effectiveness. Modern Hire offers multiple levels of reporting, all designed to provide clients with the insight they need to increase efficiency, quality and further adoption.

Choose a video interviewing solution with multi-level reporting for greater ROI.

With recruiter efficiency as our priority, our application provides the ability for recruiters to see information at a glance and export their data for broader reporting needs. Recruiters have a self-service reporting module to access “job”, “candidate” and “interview” data needed any time. They can analyze and report on candidate and job activity in just a few clicks.

In addition, we work with each client to define their unique success criteria and how we will measure our progress towards those goals. With their input, we build a ROI calculator that aligns with their business goals for video and voice interviewing. Using this calculator, we can regularly evaluate cost savings and progress against the 5-10X ROI benchmark.

Recruiters, does your video interviewing vendor use a ROI calculator to measure progress toward your goals?

Ongoing Technology Optimization

Through our analysis, we work to understand not just our clients’ interview volume, but also the behavior of their users and candidates. Armed with this data as well as insights gleaned through client discussions, we help our clients tailor use of Modern Hire software to the specific needs of their business and hiring work flow.

We also share ideas for optimizing clients’ use of our technology beyond the initial reason they purchased it. Some clients use video interviewing for on boarding, asking new hires to complete a fun video about themselves that can be shared with the rest of the company before they start.  Others use it to facilitate internal hiring, providing opportunities for career growth to current employees.

Video interviewing technology is used over the entire employment life cycle to engage employees.

As a hiring partner for our clients, we understand they must continue to get bottom line results through the use of our solution. Through evaluation and ongoing technology optimization, we help provide continued support for their decision to bring video and voice interviewing into their organization.

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Sarah Doughty is vice president of client success at Modern Hire, where she leads client partnership development and supports clients in maximizing their video interviewing ROI. She enjoys helping recruiters and hiring managers achieve a true hiring advantage. Contact Sarah at sarah.doughty@modernhire.com.