We live in a world where artificial intelligence and machine learning are no longer mere buzzwords. They are actively reshaping the disruptive reality we live in. Tech experts are even talking about a 'third industrial revolution' as we witness its impact on every industry in parts or entirety.
In the face of such change, it is only natural that the recruitment industry evolves too. Recruitment needs to adapt both its processes and its technology, as the days of recruiting candidates from behind a desk covered in stacks of resumes are long gone.
According to statistics, traditional hiring methods take an average of 45 days to hire a new position, a timeframe that is completely unfeasible in today’s fast-paced recruitment world. Not only are recruitment processes too lengthy, but we’re also witnessing a demand gap for many high skill roles.
Smart Video Recruitment with myInterview
Video interviewing has been one of the bigger breakthroughs in recruitment in the past few years. Companies like myInterview are disrupting the recruitment technology and taking it to the next level with their video interviewing platform enabled with predictive analytics.
They are on a mission to find solutions for the shortcomings of modern-day recruitment by holistically matching candidates to the right positions.
It’s said never to judge a book by its cover. In most traditional recruitment processes though, the resume is king. It’s time to take a look at the personality behind the paper, to better understand the person behind it and not just see the resume as a way to eliminate candidates. This is where the power of video interviewing comes in:
1. Skill and experience beat education and titles
Scanning through dozens of resumes used to be an easy job, as recruiters were solely looking for Ivy League credentials and big titles. This rule doesn't apply anymore.
Over 90% of programmers today are self-taught, the number of 'coding boot camp experience' mentions in Indeed resumes has exponentially grown in the past few years. Skills and real-life experiences outrun fancy education.
Just by scanning a resume, it’s difficult, if not impossible, to get to know the person behind it. Companies today are looking for also looking for other traits like dependability, strong work ethics, self-motivation, team-oriented, and a positive attitude. How do you get a grasp of all these traits just by looking at a resume?
myInterview’s recruitment video platform solves this problem. Using artificial intelligence and machine learning, it screens prospective employees based on particular employer criteria
2. Saves time and resources
According to an MRINetwork report, 56% of recruiters believe lengthy hiring processes are holding them back from hiring. Think about how much it takes to screen the resumes, then conduct phone interviews and then in-person interviews too.
One-way video interviews can speed things up significantly. myInterview provides deep analysis of video interviews to help screen talent, structure questions as well as contact applicants.
Two-way video interviews further eliminate the financial barrier. There is no need for traveling anymore, they’re recordable, and recruiters can easily share them with other members of the team and hiring managers.
Only the best candidates can then move on to face-to-face interviews where the team can spend more time with them while making sure.
3. A great way to find cultural fits
Culture and values are the foundation of biggest and best companies today. Millennials care less about paychecks than flexibility, strong values, a company culture they identify with, and a mission they’re passionate about.
“Hiring based on shared values and cultural beliefs lead to winning results,” according to keynote speaker Brent Gleeson. Finding a good culture fit works out for both the employee and the employer.
‘Leaders of companies that go from good to great start not with “where” but with “who.” They start by getting the right people on the bus (…) and they stick with that discipline—first the people, then the direction—no matter how dire the circumstances.’ (Jim Collins)
4. A competitive edge for employers
It’s about time the employers realize that the war for talent is fiercer than ever. There are far too many companies that are competing for the limited highly skilled talent pool.
The selling process now goes both ways. It’s not just the candidate who has to impress, the company needs to be equally appealing for employees.
According to 80-90% of the talent, the interview experience can actually change their mind about a company or a job. A video interview really comes in handy here, to create a positive recruiting experience and help attract the best talent out there.
5. Eliminates geographical barriers
The future of work is remote, and that's an undeniable reality. An industry, that was a total chaos just a few years ago, is now an efficient way to work. Finding the right talent for your company is not restricted to a certain city or country anymore, so why should recruiting be. Video interviews are making this possible.
Most jobs are in continuous transformation, and companies need employees to keep up with the pace. Recruiters are in a quest for finding someone who is resilient, adaptable, has a growth mindset, embraces innovation and thinks outside the box.
Who better fits this description than a freelancer or a remote worker. They need these skills to be able to sustain their way of work. They are exposed to different cultures and mindsets by working on a variety of projects. And they are used to being efficient even from the other side of the world!
6. Train talent that didn’t pass the CV test
In some cases, candidates get rejected due to minor gaps in their CV that can be easily eliminated with little training. The idea behind video interviews is to hire based on personality traits, goals and values that are inherent and cannot be changed. The skills can be then developed with training.
Recruitment isn’t the easy job it used to be; I’ll give you that. Luckily, companies like myInterview together with technology are working tirelessly to help recruiters.
Companies are saving time and resources, finding the right culture matches, getting candidate insights they didn’t have access to before, and eventually building cohesive teams with similar goals and values, resulting in less staff turnover and greater talent retention.
We’re living in exciting times, but it’s important companies jump on this wave of change while they can.