The Top 5 Best Video Interviewing Platforms - August 2019
The best video interview software, pricing guidelines, benefits, ROI calculations, and more
Are you looking at video interviewing software to qualify more candidates faster? These types of solutions can drastically decrease the amount of time your recruiting team spends on screening candidates, as well as your time to fill.
Our goal with this guide is to save your first 15 hours of research into video interviewing software. At the end, you’ll be able to figure out the ROI from video interview software, avoid the common pitfalls of using these solutions, and get in contact with the best vendors in the space.
Spark Hire boasts over 5,000 customers across both employers and staffing firms, by far the most of any video interview software company. They are also the rare, profitable and fast growing software company. While most of their customers are SMBs, they do have several larger enterprise customers including brand names like Volkswagen, Ikea, and BAE, as well as nearly 1,000 staffing agencies.
We also love how data driven Spark Hire is. They have a wealth of case studies that show everything from the time recruiters save through video interviews, to how video interviewing can improve both the candidate experience, and post-hire retention.
Worth your time: Spark Hire has lots of information around best practices for setting up video interviews that will enhance the candidate and recruiter experience. Learn More About SparkHire
HireVue is definitely one of the pioneers in this segment having started back in 2004. Their founder even had to send cameras out to applicants back then as your typical computer still didn’t come standard with a webcam. Hirevue is mostly known for their presence in the enterprise space with over 700 customers including Intel and Honeywell.
Worth your time: Check out Hirevue’s assessment technology that incorporates games and technical assessments.
VidCruiter views themselves as a recruiting automation platform, with video as it’s core. For example, they have an ATS, as well as modules for onboarding, reference checks, etc. But, their video interviewing solution is definitely the most popular with over half their customers taking advantage of this tool.
Worth your time: VidCruiter’s suite of tools allows companies looking for more than video interviewing to solve many problems at once.
RIVS is one of the oldest on demand interviewing platforms out there. They’ve consolidated several of the smaller companies in this space over the past few years and are now up to 900 customers.
Worth your time: RIVS interviewing scheduling module is like Calendly for interview scheduling and can save your company a lot of time.
RecRight’s video interview platform is designed to help your TA team hire better quality candidates faster, while also decreasing the time they spend on screening candidates by 50%. One key feature is 24/7 tech support for candidates who are using the product to record interviews. This is a factor that leads to their 95% applicant response rate. Their customers include Uber, KPMG and many more.
Any vendors we’re missing? We always want to hear from pracitioners on how to make our content better - let us know what we’re missing.
Benefits of Video Interviewing Software
Video interviewing software allows employers and staffing companies to vet larger numbers of candidates quickly, and spend more time with the best fit applicants.
In our research, we came across two types of video interviews. First off is what you’d think of as a typical Skype call where two people are talking to each other via video. This is great, but we believe the vast majority of the value to recruiters comes from asynchronous video interviews. In asynchronous video interviews, a candidate answers pre-defined questions on their own time, and then the recordings of these answers are reviewed later on by a recruiter.
A lot of the value is in a recruiter’s ability to vet a candidate by watching a few minutes of video, versus spending 30-45 minutes on the phone with a candidate, plus all the time and effort it takes to schedule and reschedule phone interviews. Here are the key benefits that we see to adding video interviewing to your HRTech Stack:
Video interview software drastically decreases the amount of time that teams spend screening candidates
Video screening can be much more effective than a phone screen, and lead to more quality in person interviews
Video interviewing software allows companies to screen more applicants and therefore not pass on candidates due to a lack of time
Video interview software can standardize the interview process, and increase collaboration between recruiters and hiring managers
Video interviews mean less time playing phone tag to setup a time to screen candidates
Video Interviewing Pricing
Pricing for video interview software can vary depending on the number of seats your company needs, the number of open roles, the number of interviews per month, and the various features/integrations you may need. With all that in mind, we wanted to share a general guide for you to understand what you may pay. Here are some guidelines on video interview pricing:
Video Interview Pricing:
|Interviews Per Month||Price Per Month|
Video Interviewing ROI
Most of the value in video interviewing comes from saving time screening candidates and that’s what we focused our ROI model on. Let’s face it, in most cases you know within the first 5 minutes of a phone screen whether or not you want to move someone forward. But, the next 25+ minutes will be spent on the phone with this person no matter what.
Download the Video Interview ROI Calculator:
Video interviewing platforms allow you to quickly vet candidates. This time savings means that recruiters can spend more time on the best fit candidates, as well as more strategic planning around initiatives that are important to the business.
Here are some of the key metrics you should be tracking for video interviews:
The time it takes to hire someone from posting to offer accepted
The amount of time spent on interview screens
The conversion rate of interview to hire
Video Interviewing for Staffing Companies
While we are mainly focusing this research on the HR use case for video interviewing, the above vendors serve staffing companies as well, and for good reason. Staffing companies can use video to better understand candidates before presenting them to clients. They can also use the video to show a more human side of a candidate vs just a resume and some notes.
Video interviewing also allows you to ensure you are asking questions which are relevant to your client. This means better alignment, as well as information from the candidate that will allow your client to quickly make a decision on whether or not they want to move forward with a candidate.
Video Interviewing, The Candidate Experience
I remember when I first heard about video interviewing. I was working in venture capital, and stumbled upon the category in my search for the next big thing. I thought it was a great tool to save employers time. However, 10 years ago it was somewhat abnormal for a job seeker to be asked to do a video interview and I can remember friends complaining about it.
Fast forward to today, and many people have been through a video interview. It’s no longer foreign. Beyond interviewing, we are all a lot more comfortable with video through social media, as well as business which seems to get done more and more over video.
However, the companies that struggle to get value out of video interviews are mostly failing because they don’t think about the candidate experience. Here’s a pro tip: use the features within these platforms that allow you to set the right expectations for interviewees, and generally humanize this process. You should record welcome videos for interviewees, give tips on how to make good videos, include messages from hiring managers, etc.
When you’re looking at many different vendors for a given problem, it’s incredibly hard to remember which vendor had which feature. Taking notes is a great idea on any demo. But, we highly recommend going one step further to take notes in a very structured way that doesn’t require a perfect memory when it comes time for decision making on which video interview vendor to move forward with.
The below spreadsheet is designed to provide some sample questions you should think through when looking at video interviewing platforms. More importantly, it provides a foundation that you can modify to ensure you are collecting all of the right information to make the best possible choice for your business.
Download The Video Interview Software Demo Organizer
Last Advice On Video Interviewing
Video interviewing can be a very powerful part of your HRTech stack. This is especially true for high volume roles where you’re spending a tremendous amount of time doing phone screens. While on demand interviewing can drive ROI from decreased time spent on phone screens, it can also increase your hiring outcomes by allowing you to better understand who a candidate is before making a decision on whether or not to hire them.
However, it’s worth noting that you should have a well defined strategy around how you will introduce the concept of video interviews to your candidates, and set expectations for their experience as well as how this content will be used. Companies who simply send candidates a link to take a video interview are not going to be successful.
If you’ve made it this far, you now have much of the knowledge you need to understand if a video interview platform is going to help your recruiting efforts, as well as how to select the right vendor for your business. We recommend doing 2-3 demos with one of our pre-vetted vendors to get a feel for the nitty gritty of how this will fit into your current recruiting process:
SparkHire has the most customers of any vendor in the space with over 5,000 businesses that range from small startups to enterprise and staffing firms. We love their transparent pricing, and the fact that they’ve tied the solution to decreasing cost per hire and time to fill across the customer base across dozens of case studies.