2014 could be a breakthrough year for the RPO industry. Recent research found that 73 percent of organizations surveyed plan to increase hiring, and more than 50 percent will increase their use of outsourced recruitment firms this year. However, 71 percent of companies also confirmed what RPO firms have already seen: The shortage of skilled candidates is a significant challenge. Given the increased hiring pressure, will outsourced recruitment firms be able to seize this opportunity to build client loyalty and sustained growth? Their adoption of video interviewing technology is likely to influence that answer.
3 Ways Video Interviewing Could Be RPO’s Tipping Point
Firms must leverage every advantage available in order to deliver on client expectations for speed and quality in hiring. With a video interviewing solution that’s purpose-built for hiring, RPO firms gain some critical capabilities in these areas:
1. Time-to-fill metrics reduced by at least 2 weeks.Time-to-fill is all about the quality of the talent pipeline. On-demand and live video interviewing are very effective for building and maintaining candidate engagement. With it firms can connect with high quality talent more quickly and stay in touch with candidates who may be a good fit for immediate or future open positions.
2. Expanded access to top flight and scarce talent. The ease of interviewing from a computer, tablet or mobile device means firms can reach conveniently and cost-effectively to candidates who are in another city or country as well as those currently employed. The technology expands the talent pool and drives greater success in finding niche performers.
3. Increased hit rate. Recruiters’ productivity skyrockets when they can use visual cues and body language as part of their evaluation. Consider the confidence they could develop with a client if recruiters knew every candidate on the list through a live or on-demand video interview.
With industry margins as tight as they are, firms are looking for new ways to save without sacrificing quality in any part of the hiring process. Video interviewing can create substantial efficiencies with better screening and better candidate engagement. It may be just the solution firms need to harness the sourcing capabilities of social media and make outsourced recruitment a more prevalent workforce strategy.