How Technology is Revolutionizing the Recruitment Scenario?
Video interviewing software: Today’s unique talent resource-demanding world has forced the process of recruitment to move beyond its traditional boundaries. In early 2017, 83% of executives said that talent acquisition is crucial for hiring the right talent, says Deloitte. Moreover, with each passing year, cognitive technologies like artificial intelligence (AI), machine learning, natural language processing (NLP), robotic process automation (RPA), predictive algorithms, and self-learning gained much prominence too.
Deloitte’s Talent acquisition tech trends 2020 states that today’s organizations’ evolving expectations are met by intelligently leveraging technology. Hence, from the advent of the pandemic, major organizations have started using asynchronous video interviews to fill in the “talent-vacant” gaps, states BBC. BBC’s report further states that these interviews are conducted using tools called video interviewing software and it is providing organizations an out-of-the-world experience! Let’s zoom in on each minute detail of this tool.
What is Video Interviewing Software?
Ever wondered about an interview without a recruiter? This is a fantasy that video interview platforms are turning into a reality.
G2 defines a video interviewing system as a tool that streamlines the traditional interview process. It helps HR personnel, recruiters, and hiring managers to select the best talent amongst the lot.
Then how do these online interview software differ from video conferencing ones? Let’s find out that too from the following section.
How are interviews on Video Interview Platforms different from Video Conferencing Ones?
Interviews on remote video interview software differ largely from video conferencing tools based on certain criteria. Some of these includes:
In video conferencing, recruiters go on real-time face-to-face sessions where every aspect of candidates is checked manually. However, text or video-based questions are pre-stored in video interviewing software and candidates need to record their answers in the form of videos. Their answers are later analyzed by integrated AI algorithms and data analytics sorts the best candidates out of them, listing their details automatically in preferred formats.
Ordinary video conferencing software lacks a lot of features that can help recruiters during interviews. However, video interview platforms comprise video recording, applicant tracking, integration, automated result evaluation, candidate selection, secured cloud storage, and others that often lack the former.
Video conferencing software like Zoom or Google Meet needs separate plugins to record sessions. However, in a way interview software comes with an in-built recorder that both recruiters and interviewees can use to record their sessions.
Most video conferencing applications save interview details on the hard drive. On the other hand, video interview recording software stores data and recorded files on secured cloud servers, enabling remote access.
Despite end-to-end encryption promises, video conferencing apps can lead to many security issues. This can endanger many vital data of both hiring managers and candidates. On the other hand, online video interview software is developed using robust firewalls, malware protection, data encryption, secure cloud servers, and access control. Hence, ensuring absolute data security and privacy for its users.
Video conferencing apps are not compatible with Applicant Tracking System (ATS). While online video interview software easily integrates with ATS for streamlining the recruitment process.
It may provide a very basic opinion about your organization to candidates if you conduct interviews on any video conferencing app. On the other hand, candidates get a blazing experience while giving an interview on an online video interview platform. This in the end formulates a great opinion about your organization in their minds.
So digital interviewing software only provides the option of one-way interviews? Actually, no. Online interview software is categorized by the purpose they serve, which makes it the best software for video interviews. Continue reading to know more about the different types of video hiring platforms.
What are the various categories of Video Interviewing Software?
G2 categorizes online video interview software into two major groups based on their mode of the interview process. They include:
- Pre-recorded video interview software – The pre-recorded video interview software refers to a tool that stores employers’ questions, which candidates can answer without the presence of a recruiter. Since these online video interview software records candidates’ interviews. Furthermore, the one way video interview software automatically analyzes candidates based on given criteria. That can include communication, skill sets, experience, and others using AI algorithms to generate accurate results.
- Live stream virtual interview software – Live video interviewing system refers to a platform where recruiters can conduct real-time and online interviews with candidates remotely.
But who can use this software? Don’t worry since we have the answer to it too!
Who can implement Virtual Interview Software to streamline their Recruitment Procedures?
Anyone who wants to conduct the interview. The answer is as simple as that. However, it completely depends on the organization and its recruitment procedure norms. Organizations can either depend on the result of the virtual interview software. Or they can couple it with online assessments and in-person interviews before the final selection.
Some of the leading organizations that use online video interview platforms for recruitment include Accenture, UNICEF, Starbucks, BASF, and Caleres amongst others.
Hence, no matter the size of your organization or the sector you belong to, you can implement the best software for video interviews too!
How to select the best video interview software for your organization?
To find the best video interview software that meets your organization’s end-to-end requirements, you must make sure to analyze some of the most minute details of the virtual interview platform. If you are unsure about what you should look for in a vidcruiter platform then follow the list to know all about it!
In the first place, you need to analyze the company’s market reputation and product demand, ratings, and reviews in the market. This will help you to understand the quality of the online interview software and gradually build trust.
The best online interview software must comprise certain features that cover all the general problems that recruiters go through. Before finalizing a product as the best platform for video interviews, ensure that it consists of the following features.
- Enables to put questions in the text, audio, and video formats
- Custom set waiting time for each question
- Schedule answer time for each question
- Registration form configuration
- Editable instruction forms
- Customizable interview windows
- Custom form builders for evaluation and other purposes
- Multiple panel evaluation feature
- Notification management system
Ensure that your chosen one way interview software is platform-independent. That is, it is compatible with Mac, Windows, and Chromebook for computers and iOS and Android in the case of smartphones.
The recruitment process will get much smoother with ATS integration. Hence, the best software for online interviews must integrate with any assessment or ATS platform.
In the end, you need to portray a better image in front of your candidates. Hence, you must make sure that your video recruiting software is developed using the best branding practices that provide candidates with an innovative experience.
Ensure that your video recruiting software provider extends their hands at any point of the day when it comes to maintenance and support.
What is the expense of Online Interview Software?
The best video interview tool comes in various models for different organizations including rate per interview, rate per job, user, and enterprise license-based models.
- The rate-per-interview or job-based model costs them nearly $10 per interview. It is usually used by start-ups and SMBs.
- The user license costs around $500 to $1000 per user each month. Organizations, usually large enterprises, need to pay based on the total number of hiring managers using the platform.
- The enterprise license-based models cost around $4 to $10 per employee every month. Here companies pay based on the proportion of recruiters using the one way interview software. The range usually differs based on software features and organizational scale.
Want to get your hands on the best online interview software at the best rates? Then contact us today to get a free quote and demo trial!
What are the features of Digital Interviewing Software?
The essential features that make video recruiting software unique include the following:
Organizations can seamlessly register themselves on video interview software free of charge using their Google mail ID. Moreover, you can manually register by uploading a few basic details including your mailing address, password, and others. Once you verify your given contact information on the video interviewing system, you are good to go!
Creating a job position is easier than before with one way video interview software. You simply need to click on the “job position” tab and fill in the details about your required position. That includes the job title, experience level, type of job, and other details.
Developing an interview questionnaire is easy with virtual interview software. Recruiters can add questions in any format they prefer (text, audio, and video formats). And just like Google Forms, recruiters can add questions with ease on a virtual interview platform. The video hiring software enables you to upload pre-created questionnaire sets and pre-recorded audio and video files or create questions impromptu. Moreover, hiring managers can also edit their set of questions at any point in time.
Branding and Timing Set-up
Once the questionnaire is set, the best platform for video interviews takes you to a new page where you can set up your brand logo and theme. On this page, you can also set the candidates’ thinking and answering times for each question. Soon after filling in the details, the open-source video interview software creates a link for a video interview.
You can simply share the link on a public platform where anyone can access it, or restrict access to particular candidates only. For the latter, you can upload a CSV file containing all the details of the candidates, and the virtual interview platform will automatically send the link to the given mailing addresses. Moreover, the online interview software also allows you to send individual links manually. The link opens a candidate application that applicants need to fill up before proceeding with the interview.
Smooth Aspirant Application Fill up
Digital interviewing software comes with an easy candidate detail collection option. Recruiters can simply post the link on job sites, or send it across to interested candidates directly using SMS or mail. Using the candidate application sheet, interviewees can add their personal and experience details and upload their resumes easily. Moreover, video recruiting software enables smooth candidate data categorization and CSV format generation.
Soon after the application fill-up process, candidates can directly start the interview process. The virtual interview software provides a recording option for each question. Hence, candidates can smoothly record their answers on the virtual interview software. However, the camera automatically shuts down when an answer exceeds the given time. The videos are categorized and stored on the AWS servers before they are sent for analysis.
Interview Analytics and Review
The video interviewing software automatically analyzes the videos using AI and ML algorithms along with Data Analytics. Using NLP and face recognition technology, the best video interview software checks both the verbal and non-verbal movements of the candidate. That includes iris movement, pitch and modulation, body posture, hand gestures, and others to assess the confidence and ability of the candidate.
Moreover, based on the given parameters and key points, the video recruiting software also checks whether candidates have given the right answer to the questions. Based on the above criteria, the best video interview software automatically generates a review for further inspection.
Recruiters can also provide access to other employees in the department based on their job roles using the online interview software. Hence, you can safeguard vital information yet provide remote access!
What are the advantages of using Digital Interviewing Software?
The most noted benefits that organizations experienced after using digital interviewing software include:
The top video interview software reduces much workload from recruiters’ shoulders, reducing 50% of hiring time and enabling accurate result derivation. Recruiters no longer need to be present at interviews because a video interviewing system makes the process automated. Using integrated algorithms, the online video interview platform automatically assesses candidates’ performance to select the best among the lot. Moreover, with free video interview platforms, 1000s of interviews can be conducted in a single day!
Applicant experience enhancement
An open-source video interview software enables candidates to appear for their interviews remotely with a mobile phone or computer. Plus, the absence of an interviewer makes them relaxed and give their best. Moreover, the user-friendliness of this virtual interview platform elevates candidates’ experience to a great extent.
60% hiring cost reduction
With lesser expenditure on manual candidate screening, logistics, coordination, and added resources, organizations can save up to 60% of hiring costs using a vidcruiter platform.
Organizations can rebrand themselves as tech-savvy and interviewee-friendly using the best video interview tool. The best video interview platform provides customizable themes, banners, graphics, logos, and video implementation. Moreover, these free video interview platforms come with a simplistic UI and navigational layout for escalating any brand’s name.
Easy video storage and access
Since pre-recorded video interview software comes with automated recording options, it also enables secure video storage on cloud for future access. Moreover, a virtual interview platform enables crucial data stored on cloud servers for audits.
Automation for efficiency
Using face recognition and NLP technologies, a video hiring platform can automatically assess candidates’ attitudes and behavior without human intervention. Furthermore, the best video interview tool also checks on the aptitude, skills, and communication level of candidates to ensure only the best talent gets selected.
Data Analytics-based Reporting
A video interviewing system enables panel bias tracking, total TAT, and other factors with the help of analytics-based real-time report generation. Hence, virtual interview software enhances the recruitment process as a whole.
An online video interview software provides you with a wide talent pool across the globe. Since candidates can appear for interviews at your firm remotely using video hiring software. Hence, the top video interview software opens up gates to access the apt talent while reducing additional costs!
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Here’s a reality check. Today over 700 business organizations are said to use a one-way interview software. One-third of the section includes Fortune 500 companies, who have been said to conduct over 10 million interviews through video hiring software, says HireVue. Another use case includes Modern Hire’s use of digital interviewing software to assess 20 million assessments and interviews. And what did they witness? Over 40% user increment!
That’s why the market share of video interview platforms has been said to rise from $176.1 million (2019) to $407.5 million (2027) at a CAGR of 11.3%!