For a long time, the words “recruitment” and “video” conjured up images of cheesy talking heads and time-lapse shots of offices – maybe with a ping-pong table thrown in for good measure.
But technology has advanced, and now video can aid you in every step of the recruitment process – from attracting talent, to conducting interviews, to showing off a company’s culture. It’s no surprise then that 2018 saw an increase in recruiters using video. Indeed, research by Software Advice found that 60% of hiring managers and recruiters have started using video technology in their recruitment process.
But 2018 was just the tip of the iceberg. As more companies, agencies and candidates realise the benefits of video, the medium will become more popular and useful. Here are just 4 of the many reasons why video will dominate the recruitment industry in 2019 and beyond.
1. Video increases candidate engagement
Video leads to higher engagement, which is why we’re seeing increased adoption in sales and marketing. Indeed, 59% of people agree that if both text and video are available on the same topic, they are more likely to choose the video option. Research by Syndacast found that 65% of people watch more than 75% of a video, reinforcing its effectiveness at getting more messages across.
The benefits of video for recruitment go way beyond passive engagement. Job postings with an accompanying video receive 12% more views than those without video. What’s more, vacancy listings with video have a 34% greater candidate application rate than those without – proving it can deliver tangible results in recruitment.
Whether it’s a corporate video showcasing a company’s culture, video interviews or video listings, recruiters should therefore be using video throughout their processes to boost candidate engagement and expand their applicant pool.
2. Video improves the candidate experience
The current job market is 90% candidate-driven, which means recruiters need to shape the experience to suit candidates. Just as the customer is king for sales and marketing, the candidate is currently king for recruiters.
A positive candidate experience can increase their likelihood of accepting a job offer and recommending your agency to others. A negative one can be costly. Indeed, Virgin Media calculated that a bad candidate experience costs them $5.4 million every year.
But how can video improve the candidate experience?
On a practical level, it can make the application and recruitment process easier and faster. 57% of candidates prefer video interviews, for example, because they save time and money on travel.
Using video also demonstrates that you and your clients take advantage of new technologies. Given that 59% of millennials consider an employer’s provision of state-of-the-art technology important when considering a job, being seen as a technology-savvy is crucial for attracting younger talent.
3. Video goes hand in hand with mobile
As with most industries these days, mobile is dominating recruitment – and will continue to do so. A recent study found that 89% of job seekers use mobile platforms for their job search, and 16% of applications are now submitted via mobile.
Video is well suited to mobile platforms. It’s often easier to watch a short video than to read screen after screen of text. Using video job postings makes it easier for candidates to view your vacancies on the go. Combine that with a mobile-optimised platform that makes it easy to submit an application, and you’ll likely see an uptick in applications.
4. Video saves time and money during the recruitment process
It’s no secret that recruitment is expensive. Figures vary, but it’s estimated that cost per hire ranges between £4,000 and £8,000. Plus there’s the time element. Recruitment agencies aim to alleviate hours spent trawling through CVs and doing pre-screening, but even with support, it’s still an expensive process (and that’s before you consider the cost of making the wrong hire).
Video can help reduce some of this strain. Live video interviews are 6 times faster than phone interviews, for example. It also gives each side greater insight at an early stage, increasing the chance of making the right choice down the process.
The benefits of video for recruitment go far beyond this list
Here at Hinterview, we use video recruitment software to help you keep your recruitment processes people-centric. For more information about how we can help you transform your recruitment strategy, contact us today to book a demo and discuss your requirements.