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Business Value of Video in Recruitment
(May 2, 2012) Aberdeen Report on the Business Value of Video in Recruitment Now Available for Download at GreenJobInterview.com
The Aberdeen Group's Analyst Insight, "Click Play: The Value of Video in Recruitment," is now available for free download from GreenJobInterview, the pioneer in live virtual job interviewing. Aberdeen's Talent Acquisition research, conducted from January and February 2012, offers insight into the challenges, key trends and best practices for building a business case for video interviewing. Cutting costs, improving efficiencies and standardizing processes are just a few of the reasons that innovative organizations such as Walmart and Microsoft are embracing video interviewing tools.
Video clearly presents a viable solution to the challenges organizations face in talent acquisition, according to Aberdeen. Key considerations for investing in video impact not only HR but the entire organization and are led by a reduction in travel costs (61%) and a reduced time to hire (38%), a critical driver for improving productivity. Also cited in the report was the ability of video to reach geographically dispersed candidates and a broader slate of talent —vital to organizations looking to meet growth goals and enter emerging markets.
"The Aberdeen report really supports the success our customers are experiencing with our live virtual interviewing solution," says Theo Rokos, CEO of GreenJobInterview. "Organizations must take a more business-centric approach when considering video and align HR objectives with business objectives. Video interviewing is not merely an HR solution; its influence is felt across the organization."
Aberdeen found that those organizations that invest in video achieve improved organizational performance and an overwhelming return on investment. Organizations using video were two to three times more likely than organizations not using video to improve recruiting (time to fill, cost per hire, hiring manager satisfaction) and business metrics (customer retention and customer satisfaction), according to the report. Organizations leveraging video in talent acquisition ranked customer satisfaction, company revenue and improved organizational profitability as the most valuable business metrics.
"Video is revolutionizing recruitment and those companies that have already adopted the technology are realizing the benefits," says Rokos. "Organizations almost can't afford not to integrate video into their long-term talent acquisition strategy if they intend to compete today for top talent."
Other findings from the Aberdeen report:
- A majority of organizations (54%) that are adopting video have a continuous or long-term talent acquisition strategy in place compared to 18% of organizations not leveraging video.
- Organizations using video cite employer branding activities (43%), improved interview-to-hire ratio (33%), conversion rates (27%) and candidate satisfaction (27%) as keys for evaluating the use of video.
- The majority of organizations (61%) are leveraging synchronous (live, two-way) video over asynchronous (pre-recorded questions which candidates reply to) for every hiring position, including when targeting college graduates (as organizations look to save costs on campus recruiting) and for critical leadership roles.
The Aberdeen Group's Analyst Insight, "Click Play: The Value of Video in Recruitment," is now available for complimentary download. Aberdeen's Insights provide the analyst perspective of the research as drawn from an aggregated view of the research surveys, interviews and data analysis.
About GreenJobInterview
Founded by recruiting industry veterans, GreenJobInterview creates positive and valuable experiences in live virtual interviewing. GreenJobInterview utilizes secure, browser-based technology and concierge-level support services that enable organizations and candidates to interact face-to-face in real time while minimizing costs, maximizing time, enhancing brand engagement and reducing environmental impact. More than 250 of the world's leading organizations take advantage of live virtual interviewing from GreenJobInterview including Walmart, PepsiCo, University of California, Los Angeles (UCLA) and Mayo Clinic. For more information, contact www.greenjobinterview.com.
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