COVID-19 may have changed where companies are working, but one thing hasn’t changed: companies are still hiring. While news headlines have highlighted layoffs and furloughs, a recent survey from Lucas Group found hiring to be much stronger than news coverage suggests: 75% of companies are continuing to hire new employees. Now, more than ever, the right hire makes a difference for driving business success– and the right virtual interview practices are essential for landing this game-changing talent.
Businesses are still hiring, even at companies negatively impacted by COVID-19.
Lucas Group’s survey found that almost 75% of companies are doing one or more of the following: hiring actively (both critical and non-critical roles), hiring for critical roles that turnover, and upgrading confidentially. Hiring is happening at companies across the board, including at businesses that have been negatively impacted by COVID-19. Even companies reporting layoffs or furloughs have continued to fill critical positions.
Business leaders recognize that the right talent is essential to navigating this unprecedented moment, prompting some to re-evaluate their current talent roster and upgrade key positions. One Accounting Director noted, “COVID-19 has accelerated some of our conversations around cutting low hanging fruit. We’ve had a chance to re-examine these positions and see if we really need them at all, or if we should confidentially replace and upgrade talent.”
Virtual interview tools help companies land top talent and streamline the hiring process.
61% of companies that are currently hiring have adopted one or more new virtual tools. These tools speed up the traditional, in-person interview process, minimizing scheduling and logistic challenges while reducing costs. Video interviews, for example, can be an effective alternative to flying candidates out for in-person meetings.
Most critically, the shift to a remote interview process has helped some companies identify friction points in their old approaches, such as decision-making delays or difficulty reaching stakeholder consensus. As one Accounting Leader in the real estate industry shared,“We’ve lost top talent in the past to competing offers because our in-person process took too long. This has proven video interviews work.”
Video interviews are the most popular virtual tool– and companies plan to keep them post-COVID.
While the majority of companies surveyed are using a combination of phone and video interviews, 40% of companies are opting just for video, skipping phone interviews altogether. Companies that have been most successful with video interviews already had baseline familiarity. One HR Director said, “We’ve used video calls as part of the interview process since 2015, so we just expanded them.” Another HR Director said their company moved to “100% video interviews.” The company had a dispersed workforce prior to COVID, “so many managers were already using video.”
75% of respondents say the impact of COVID-19 on hiring processes has been positive and that they plan to keep some or all of the hiring process changes they made in response to COVID-19. 47% plan to use video interviews for first and second-round interviews. As employers become more comfortable using video platforms like Zoom for daily tasks, they’re also more comfortable using these platforms for video interviews, making for a smoother adoption process. As a managing director at a private equity firm noted, “Even though we aren’t hiring now, our increased use of video versus physically meeting will impact how we hire in the future. Folks are much more comfortable with Zoom, Citrix, etc. then they used to be.”
A seamless virtual interview experience is an essential part of a successful talent recruitment process. As hiring managers are learning, mastering virtual interviews – even if you’re adept at video calls – takes more than just adapting to new technology. Our Virtual Interview Cheat Sheet can help position your company for hiring success.
Which virtual interview tools have been most successful for your company? What challenges have your company experienced with remote hiring? Let us know in the comments below.