Business leaders know that finding new talent is a costly undertaking. Live Video Interviews offer companies an opportunity to sidestep this obstacle. Our innovative platform can alleviate hiring headaches by removing burdensome processes that drain your business’ finite resources.
But hiring managers often ask us if our video chat technology can offer them a return on their investment. Essentially: how many hires make sense for live video interviews investment? Our answer is simple: Regardless of the size of your enterprise, you will completely break even in less than three hires.
Benefits for Small to Medium-Sized Companies
Using our platform, both large corporations and small business will begin to experience an ROI within the very first hire. However, the ROI from live video interviews has an even greater impact on small to medium-sized businesses. For organizations of this size, time is more expensive. Unlike larger corporations, with teams of recruiters that hire thousands of candidates each month, smaller businesses don’t have the same luxuries afforded to their well-to-do peers. In some cases, small-business executives are personally calling each prospective candidate for traditional phone screens.
Many job seekers have impressive resumes and will sound convincing on the phone. Nevertheless, 30 seconds into the in-person interview, you may discover the candidate is not the right fit for your company. Our video chat technology will cut through the hiring fog and put each candidate in focus. This is a key advantage for small to medium-sized businesses where time and talent are valuable resources.
How Much Will Live Video Interviews Cost?
Conventional hiring processes can take an average of 21 days at a cost of over $4000 per hire. But live video interviews can narrow your company’s hiring funnel, reducing costs and time by half. In addition, through more efficient hiring methods, you can reach out to higher-caliber candidates.
We made our platform affordable for standard-sized business so that the break-even happens at 2.6 hires per year. We know the average cost-per-hire for most companies is $4,129. But this figure can be significantly higher for smaller establishments. Why? Because you are incorporating executive time into the hiring process. Your company may not have an HR army to recruit talent from across the globe. Executives from midsized companies may have to do all the hiring legwork themselves. However, for only a few hundred dollars a month, you will have a live video platform completely branded for your company that will dramatically reduce the hiring hassle.