This month, Hinterview brings you a guest blog from one of our users, Nigel Fox, who is a Director & Founder at Annapurna Recruitment.
Annapurna Recruitment is an HR, IT & Business Change specialist agency and started utilising Hinterview in August 2016, after trying multiple products in the video interview market.
You may have read some posts towards the end of last year made by my business partner James Ballard with regards to Video Interviewing. Now the dust has settled on the implementation of our chosen video platform, I thought some of you in the Recruitment Industry may be interested in our results and experiences so far.
As a veteran of multiple recruitment software implementations (cloud based or otherwise), I can report that this one was pain-free and very quick, from a technical perspective. Most recruitment businesses lack the technical personnel, in-house expertise or time for this kind of thing, so this was great to see and enabled us to fully focus on take up with our staff and clients.
The Results…
So far, so very, very good. We have been using our platform now for 5 months and so far we are on target for a 3000% return on our investment* pro-rata for the year. Yes, you did read that correctly, 3000% ROI!
*For the record, I am qualifying the return as placements we would not otherwise have done without the platform, whether it helped us win the business opportunity, or because it enabled our candidates to stand out better from the competition. Right now, we are filling a much higher percentage of jobs utilising the platform than we are with jobs utilising the traditional recruitment process.
That said, those results come from approximately only 50% of our recruiter population currently, with some recruiters yet to fully engage with the product, so the results should actually improve if anything.
I’m sure that most business owners will, at some stage, have purchased software or products that simply have not worked or delivered an ROI. Sometimes it is the fault of the software or the product, but more often than not it is a failure to manage the engagement of your staff and the required shift in culture to really embed a new process into what may well already be a successful business model.
In this case, I would say we have done a good job of embedding the tool and explaining the advantages of the product, not only internally to our staff, but also externally with our clients (with whom it has been a smash hit). This can still be improved and we look forward to seeing what we can do with as close to 100% take up amongst our consultants as possible.
The management of consultant engagement, then, is a big part of why this is working for us but I do think there are two other potentially more important reasons why consultant & client engagement is so high:
1) Clients today are ready and willing to engage with video, especially with a platform that is not solely automated
2) In an increasingly congested agency space here in the UK, recruiters are crying out for a tool like this that gives them a genuine market advantage and a way to show a client the work they have done on their behalf
From my point of view, the tool has enabled us to reduce the time it takes to get new consultants making placements and being productive more quickly, which is great news.
Video Interviewing has had its share of sceptics and has been a long time making its mark in the UK Recruitment Industry, but it appears from the results so far that it is ready to be the game changer we had hoped it would be.
If you are interested in utilising video interview software to get an ROI of over 3000%.
Original post available here: https://www.linkedin.com/pulse/video-interviewing-proof-results-nigel-fox
