Virtual interviews are quickly becoming synonymous with modern recruiting. Recruiters across industries are turning to this interview method to improve their hiring process. Virtual interviews allow for a quicker hiring process and allow recruiters to make an offer to the best available talent before their competitors.
So, let’s take a look at this hiring method and what it offers over a traditional interview.
How Virtual Interviews Work
Also known as asynchronous interviews, virtual interviews, or on-demand interviews, virtual interviews are a screening tool recruiters can use to determine if candidates should move on to the next round of the hiring process.
Virtual interviews allow a recruiter to:
- Record themselves asking questions
- Send that recording to a candidate
- Allow the candidate to record their responses
Virtual interviews are also quickly becoming the standard method for how recruiters conduct screening. These on-demand interviews allow recruiters to automate one of the most tedious parts of the hiring process. As a result, the hiring process becomes more efficient, making finding qualified talent easier.
How Virtual Interviews Help Recruiters
The key benefit of virtual interviews is that they can drastically reduce the time-to-fill. Time-to-fill or time-to-hire are the days between when a job is posted and when a new hire accepts an offer. As such, it represents a key performance indicator for your recruiting efforts.
The time-to-hire is usually around 36 to 42 days for the average recruiting process. However, longer times are known to occur for highly skilled positions. What’s more, we can directly translate this time to dollars. According to Zippia, the average vacancy costs an employer $98 a day. Over 42 days, this means a vacancy will cost approximately $4,129.
Traditional phone interviews are largely to blame for this long time-to-fill because the modern recruiter spends two-thirds of their overall hiring time on the interview process alone. Roughly 67% of recruiters spend 30 minutes to 2 hours on scheduling interviews per candidate. If we account for a 30-minute interview, the screening process can end up adding an entire week to the hiring cycle.
Virtual interviews allow recruiters to automate much of this process, shorten the time-to-fill, reach qualified candidates before their competitors, and improve the overall success of their recruiting efforts.
How Do Virtual Phone Interviews Compare to Virtual Video Interviews?
There are two types of virtual interviews available today — virtual video interviews and virtual phone interviews. As the names imply, the primary difference is whether or not there is a visual component to this interview. However, there are several drawbacks to the virtual video interview.
So, let’s compare the differences between on-demand video and phone interviews.
Possibly the most important difference between these two interview methods is accessibility. Cameras and microphones can be niche equipment. By using virtual video interviews, recruiters immediately alienate any candidate that lacks this equipment, or even a laptop or fast internet connection. Phone interviews on the other hand can be completed with just a cell phone. According to Pew Research, 97% of Americans own some form of a cellphone.
An on-demand phone interview is vastly more accessible than a video interview. Phone interviews can also help mitigate bias, allow for faster views, and accommodate high-volume hiring efforts, unlike a video interview. On-demand phone interviews have all of the benefits of on-demand video interviews without the drawbacks.
When you integrate Qualifi’s on-demand phone interview platform into your hiring process, can expect a 7x faster hiring process. With Qualifi, you and your team can shorten your time-to-fill, and provide your candidates with a superior hiring experience.