What is your Live Video Interview ROI?
Investment in new technology is a strategy essential to business growth and development. ROI is not only important in terms of total numbers, but also in terms of timeline. How fast can the cost be recouped?
The Facts & Numbers in the Modern Hiring Climate
A corporate job listing gets an average of 250 applicants. Of these applicants, an average of 4-6% move to the next step in the process. For this example, we will use 14 as the number chosen for a first screen, or first interview. Each interaction either via phone, live video interview, or in-person requires the time of a hiring manager.
How It Works
Using a live video interview as part of the hiring process gives a more realistic representation of a candidate than a phone call or pre-recorded interview. Body language gives a better representation of a candidate and their conversational style to gauge culture fit among other requirements. Hiring right the first time saves even more time, cost, and effort in turnover.
How fast for Live Video Interview ROI?
Increasing pass-through time and decision making on candidates add up to ROI quickly. Essentially, saving the time of resources such as hiring managers can add up to cost savings of as much as 40% per job posting. Using industry standards, this means live video interview ROI can be realized in as little as 2.6 hires per year.
How to Integrate
Giving the option of a live video interview to your candidates and hiring managers is a simple plug and play line of code. The modal lives on the bottom of your website like many customer service chat portals. A custom URL branded with your company name and live video interviews is also available. Additionally, your recruiting and hiring staff have a record of candidate experience and history from a customizable follow-up survey.
For more information on live video interview ROI and staffing & recruiting, download our infographic here.
For even more information on live video interview ROI and to get a personal calculation contact us.