Thanks for the figures from Leadership IQ. I have seen the study but have not examined it. Some questions come to mind when I look at a study that heavily favors the employers point of view. How much overlap occured in this study? Other issues need to be examined. This study only involves 50% of the equation, how about the reasons the candidates feel they failed? What about unrealistic expectation, lack of support from the company, lack of training, personality conflcts with the boss,lack of management skills by the supervisor etc.? All these ingredients form the total picture. Even in the Leadership IQ study, a figure that approaches a 50% failure rate indicates that companies don’t really know what they are looking for, have a flawed process, don’t possess the interviewing skills to really delve into whether or not they know what they are looking for. I saw a recent article that an individual who attended the recent CTIA show in Las Vegas, where the writer stopped at 111 or so booths and asked the company what their value add proposition was? – only 6 people could tell him. The Leadership IQ survey is only one study, from one perspective, but it still illustrates the same problem and video is not going to solve it.

http://hrpeople.monster.com/news/articles/2967-why-new-hires-fail-

September 11, 2009

Forty-six percent of newly-hired employees will fail within 18 months, according to a new study by Leadership IQ. (Failure is being defined as: being terminated, leaving under pressure, receiving disciplinary action, or having significantly negative performance reviews.)

But it’s not because they don’t have the right skills to do the job. Instead, the study found that 26% of new hires fail because they can’t accept feedback, 23% because they’re unable to understand and manage emotions, 17% because they lack the necessary motivation to excel, 15% because they have the wrong temperament for the job, and only 11% because they lack the necessary technical skills.


More telling? 82% of managers reported that in hindsight, there were red flags during the interview that they ignored.
…………………

Cheers,

KH

In response to your questions for #2 and #3,I do approximately 2 hours/day of reading each day, in additon to reseach. The figures quoted above come from a variety of sources: Saratoga Resource Financial Report; SHRM; American Management Association; Workforce Magazine; Harris Interactive Pools to name a few. As for the turnover costs,depending upon the salary the individual was making, the loss of business, employee replacement costs etc. and extrapolating the number of people corporations turned over in 2009, it is not too difficult to get to the $1 Trillion figure.

Hope this answers your questions.

Cheers,

Keith
…….

2. Statiscally, American companies spent over $1 Trilion on turnover costs in 2009, emphasizing the need to focus on better hiring and retention issues utilizing existing acceptable practices.

3. Statistically,75% of new hires did not meet the goals and expectations that were laid out in the interviewing process.

1. At this time video, or any images that can be construed as potentially discriminatory, is illegal. The laws of the land will have to change in order for this to happen.

2. Statiscally, American companies spent over $1 Trilion on turnover costs in 2009, emphasizing the need to focus on better hiring and retention issues utilizing existing acceptable practices.

3. Statistically,75% of new hires did not meet the goals and expectations that were laid out in the interviewing process. Obviously, when you have these kinds of negative numbers, the current program needs to be improved before you incorporate technology into interviewing. If you don’t have a functional program now, video is not going to improve your hit ratio.

4. Not everyone has broadband access, or a video cam.

5. Video interviewing might be fine if you are attached to an ethernet cable, but, if you are mobile, all mobile operators are trying to find some way of limiting video flow and data, as both consume a lot of bandwidth. Unless massive infrastructure spending and implementation occur, the price of excess mobile data and video will rise, making it cost prohibitive. When you factor in the increasing demands through initiatives such as offline storage, web driven programs,VOIP,etc., the bandwidth just isn’t there.

Other than implementing a more succesful hiring process within most corporations, there are probably many other technical and legal aspects that need to be addressed before I see video technology as being adopted by companies as a component in hiring.

MyVideoProfile.co.uk cuts the cost of hiring staff by allowing job seekers to record a video interview using their webcam. As recruiters set the questions, they can be sure that job seekers will give them the answers they’re looking for!

For further information please email info @ myvideoprofile.co.uk

I don’t have time to address some of the more recent comments. Will let others with more vested interest carry on…

SmartSearch & GreenJobInterview.com invite you to see how face-to-face virtual interviews improves the candidate’s experience & reduces hiring costs

Wednesday, April 8, 9am PDT
Reserve your Webcast seat now:
https://www2.gotomeeting.com/register/895052939

In this informative presentation, GreenJobInterview.com president Greg Rokos explains how face-to-face online interviews are transforming the talent acquisition process while offering significant cost savings, convenience, flexibility, and an entirely new level of candidate experience.

Greg Rokos is an 18-year veteran of the recruiting industry. His extensive experience was the inspiration for the creation of GreenJobInterview.com, the leader in live virtual interviews as a way to cut costs & maximize time savings for both candidates & employers alike. Greg has been interviewed by NBC, CBS, Fast Company, HR Executive, HR Magazine and has made presentations at national industry conferences including ERE and HERC, as well as many Fortune 500 companies on how “going green” is revolutioning the talent acquisition process.

–

PS: WE PROMISE this is not a glorified sales pitch; the presentation features real life examples of how employers are using video interviewing, and creating positive experiences for job candidates and hiring organizations.

I’m not talking about the corporate-speak, glossy 7-minute video of the CEO, but exposing the real guts of the job from the hiring manager and making it real interesting in 90 seconds. But talent attraction is only one component. Also, right now recruiting video creation, collaboration and asset management is too expensive to get mass adoption from corporate recruiting budgets.

By getting the hiring manager to talk about the details of the job, put it on tape job seekers are naturally interested in seeing this. But it needs to be created and edited professionally to have impact.

Also, Recruiting directors can use it to educate cross functional sourcing teams. Aon is looking at video platforms like http://www.studionow.com and others to help in our RPO and RJP solutions.

Great article Kevin, thanks

Jason Krumwiede
Aon Consulting RPO

The mega trend here is that companies are becoming more decentralized, transparent and authentic with their shareholder markets. It’s a global force that is sweeping through every industry, driven by technology, younger generational values and survival.

Streaming video is a fantastic tool to even further tear down the wall between employers and talent. A great streaming video speaks to the right talent markets about what matters to them in making their career choice. It can show the company as a fantastic place to work for the right talent and make the whole experience visual. It’s more authentic storytelling than selling the dream.

But creating a killer employer branding and recruiting video is not enough. The video needs to become part of the Internet ecosystem, find the right audience across social media platforms and search engines. It needs to exist in the right context where talent is researching and planning their careers.

I think YouTube is great place for a company to get their feet wet and learn about social media. But YouTube is more about discovery and entertainment than about research and intent. We have several cases of where our employer videos at CareerTV.com have outperformed YouTube’s video views for a particular employer by 10 times.

To effectively help employers with streaming videos for Gen Y there are three crucial components: real knowledge about the audience, a great technology platform for effective web dissemination and experience in made-for-web video programming.

Best / Per Håkansson
CEO CareerTV Worldwide

Cheers,

Keith H