The talent shortage, new business pressures, and the uncertainty of remote work are forcing companies to rethink the inefficiencies and hidden costs of interviewing. Organizations are doubling the number of interviews each year as tenure gets shorter and the Great Resignation lingers. At the same time, interviewing is one of the most critical areas of talent acquisition — yet few companies measure its effectiveness or its impact on overall business strategies.
Unfortunately, the interviewing process for many businesses is inconsistent, impersonal, and filled with bias. Interviewers operate without any rules of engagement and candidates are left without feedback. New findings from Aptitude Research show that:
- 1 in 3 companies are not confident in their interview process
- Half of employers have lost quality talent due to a poor interview process
- Less than 50% of organizations measure the ROI of their interview process
While the methods of interviewing have evolved, the content and delivery have not.
Over the past two years, companies have moved to virtual interviewing platforms with increasing fatigue on both sides. Yet, abandonment rates and the risk for bias have made some of these solutions less effective and less human.
Companies are now actively looking to fix this broken process — 36% identified interviewing as a top priority for 2022, and 52% are accelerating their investment in interviewing technology.
As organizations look to the future of talent acquisition, they must consider the right combination of automation, objective intelligence over subjective “gut feel,” and a consumer-grade candidate experience. Meanwhile, as the talent acquisition function grows in scale, it also grows in complexity. Companies must consider the impact of interviewing from both the employer and candidate perspectives.
Top Research Findings
1 in 4 Candidates drop off at the interview stage. More candidates are dropping off at the interview stage than any other area of talent acquisition. Reasons for drop-off include lack of consistency in the experience, transparency, and fairness. Delays and poor communication are causing employers to lose quality talent. What’s more, 2% of companies have an interview process that lasts four to six weeks.
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Communication is the biggest missed opportunity. Candidates want to understand their progress and know where they stand. Companies need to better communicate with candidates and provide feedback on the interview process. To that end, 82% of candidates surveyed stated that they want more feedback on the interview process.
Companies have options. Video is not the preferred format for interviews. The No. 1 strategy for companies during the pandemic was to shift to virtual interviewing, but most did not consider every option. Only 17% of organizations are satisfied with video interviewing solutions, and 1 in 2 candidates stated that they are not comfortable in front of the camera. As employers prioritize inclusion and experiences, they should consider other options for virtual interviews.
Structured interviews drive results. Structured interviews provide standardization in the hiring process. They give companies consistency in experiences and objective data to enable a fairer, more robust hiring decision. The research showed companies with structured interviews improved experiences, efficiency, and quality of hire. Additionally, some employers looking to reduce bias are turning to blind, automated structured interviews as their top strategy.
AI tools improve the interviewer and candidate experiences. Companies are embracing AI in interviewing to deliver scalability, reduce time, and provide consistency. Blind interview solutions can also reduce bias. Meanwhile, candidates are embracing automated interviews as every candidate receives personalized learning from the experience. Thirty-nine percent of surveyed companies stated that AI provides a positive experience in the interview process and can support both managers and candidates by providing guidance and a fair process.