As demand for virtual interviews has grown so has the number of solutions to support them. Born out of the need for global connectivity and the challenges around the pandemic, what started with simple video platforms like Zoom has turned into a complete marketplace for virtual interview software.

But first, why a remote interview? Video interviews, meaning they're virtual and take place online, are becoming the norm because they cut costs and allow the automation of many functions that don't require a "human touch." This means that new options, pre-recorded video interviews, for example, give hiring managers and recruiters bandwidth to focus on tasks outside of hiring.

It also means new technologies like AI interview software can "piggyback" on video interview platforms and serve as digital assistants gathering insights on the candidates and assessing their viability as an employee.

The Rise of Video Interview Software:

Today, video interview software has become an essential tool for recruiters and hiring managers looking to streamline their hiring process. With the rise of virtual interviews, it's no longer necessary to bring candidates into a physical office for an initial screening, saving both time and money.

Imagine the costs associated with flying a candidate from another state (or even another country), inundating them with interviews all day, taking them to dinner, and then covering the hotel bill before you fly them home. Depending on the travel season and demand, this could add an additional $2,000- 3,000.00 cost on top of the average cost to hire a new employee, which hovers right around $4,500.00.

Contrast that alarmingly large investment with video interview platforms like Zoom which only costs a few dollars a month, and add in the power of tools like Pillar's AI-powered interview intelligence software and you'll easily see the value of switching to virtual interviews - if you haven't already.

But how do you gather the same insights that you would be able to in a real, in-person, face-to-face interview? This is where the power of AI interview software combined with a great hiring process really comes in handy. AI interview solutions like Pillar use proprietary algorithms to gather insights, score candidates, and make hiring recommendations based on an objective assessment of AI interview software questions and answers asked in each stage of the candidate funnel. Then, the software records, indexes, and transcribes the interview so that relevant aspects of it can be shared with the right members of the team. Did I mention all of this is happening behind the scenes?

This is why, according to a recent survey by Gartner, 86% of organizations are using video interviews in their hiring process and that number is only expected to grow as bugs like the ones we've seen at Amazon and several other large organizations are worked out of their respective systems. And with the growing demand for virtual interviews, there has also been an influx of new video interview software options available on the market.

Video Interview Software

We may be biased, okay we're definitely biased...but we believe Pillar's interview intelligence software is one of the best video interview platforms available today, but we built it so give us a break. The reason we believe it's the best app for recording video interviews is that our software has helped companies lower employee turnover by more than 50%, and it's also helped increase diversity hiring by 52%.

While many video interview apps are struggling to code biases out of their system, ours was built to eliminate bias from the beginning. It's literally been part of our company's mission since the beginning. So if you're looking for video interview software to help you eliminate biases from the hiring process chat with someone on our team to give our solution a try!

But hey, we know we're not the only good video interview software platform out there. Companies like Spark Hire and VidCruiter are also making waves in the hiring industry with their virtual interview solutions. So how do you choose the best one for your organization? Here are a few things to consider when looking for video interview software:

- User-friendly interface: Make sure the platform is easy to use for both the interviewer and the candidate. Complicated software can lead to a negative experience for both parties.

- Compatibility: Ensure that the video interview software works seamlessly with other tools you use in your hiring process, such as applicant tracking systems or recruiting software.

- Security: With sensitive information being shared during interviews, it's important to choose a platform that prioritizes data security and confidentiality.

- Features: Look for features that can enhance your virtual interviews, such as video recording, automatic transcription, candidate scoring, and AI-powered interview analysis.

- Cost: Consider the pricing structure of the video interview software and compare it with your budget. Remember, paying a little extra for additional features may be worth it in the long run.

With these considerations in mind, you can find the best video interview software that fits your organization's needs. Whether you're looking to save time and costs or improve diversity and reduce biases in your hiring.

Best Video Interview Software

Online interview platforms are a dime a dozen today. In fact, G2 lists more than 150 of them when you Google, "best interview platforms." So hopefully in this section, we can help you choose the right one.

How to choose the best video interview software for you:

In the previous section, we talked about the five core aspects of choosing a video interviewing platform: interface, compatibility, security, features, and cost. Each aspect is relevant to how engaged your team will be using the platform you choose, whether it will function well, fit your needs, and fit within your company's budget.

But broader than the core concepts, how do you make a decision? Well to answer this question let's take a snapshot of an effective hiring process. Call it a 30,000-foot-view.

The best hiring processes generally start with a screening which leads to a hiring manager, a team or panel interview, tests and assessments to prove competencies, and then final interviews. However, there are steps before the screening, throughout the hiring process, and after the final round of interviews. Things like the tools you use for job postings, applicant tracking, background checks, and onboarding.

All of these steps and the data associated with them need a "place to live." That's why the foundation of every good recruitment tech stack is an applicant tracking system. We like Lever, but there are many great options out there. Then, you need a candidate-sourcing solution and digital assistant to fill your applicant pool. This is where tools like Paradox.ai and HireEz come into play.

Once you have candidates, you need to screen and interview them. This is where video interview platforms like Zoom and Teams change the game.

Ideally, your video interview software should fit seamlessly into this step of the process by streamlining tasks and enhancing communication among team members during the screening and interview process. It should also integrate well with other hiring tools up and down the stack to reduce manual work and data entry- which is why we built Pillar's interview intelligence software to integrate seamlessly into the stack.

Next, you'll want to connect onboarding and employee benefits solutions like Carta, BambooHR, and Zenefits for your final candidates. Carta is great if you're hiring executive talent because it secures and organizes sensitive information like equity options beautifully. BambooHR is a favorite among small businesses because of its affordable price point and user-friendly interface. Lastly, Zenefits is an excellent fit for larger organizations with complex benefits structures.

In summary, the best video interview software will be the one that fits your organizational and hiring needs like a glove. When doing your research, remember to look for a user-friendly solution, compatible with your tech stack, and features that enhance your virtual interviews. Cost should also be a factor to consider, but don't let it be the sole determining factor. Ultimately, investing in the right video interview software can save you time, and costs, help improve diversity, and reduce biases in your hiring process. With the right systems in place, hiring can be a breeze!

If you've been struggling to find, identify, and retain top talent, it could be because of a gap in your candidate analysis, hiring process, or tech stack. Luckily, these are all areas that we can help you shore up to make better hires.

To see a demo of our interview intelligence software or chat with someone about how you could decrease turnover by 50% or increase diversity hiring on your teams, book your demo today. We can't wait to help you make hiring easier and more effective! Happy Hiring!