In short: the hiring cycle is no longer a vicious circle taking up everyone’s time and eating their souls.
Let's talk about the exact benefits of this approach.
Remarkable candidate experience
Not so many companies have dropped the multi-step, tormenting assessment system, and few of the remaining ones have given up the kind of "Where do you see yourself in 5/10/20 years?" grandpa-style questions. You will definitely stand out if your hiring process is not only humane, smart but also asynchronous.
Benefit for recruiting passive candidates and candidates who are currently employed
The most valuable candidates — those who you will not find on job boards — especially appreciate asynchronous hiring. Сurrently employed candidates may be open to new opportunities or even want to change their jobs, but finding a time to schedule an interview or sneak away from the office to pass a live coding challenge can be difficult (and demotivating, to be honest).
With asynchronous hiring, including asynchronous video interviews and test tasks, candidates can respond to employers on their schedule. Before work, in the evening, during the weekends — whenever works best for them. Remote work opportunities are not a trump card, killer feature, or some unbelievable benefit anymore as it was a year ago. But asynchronous hiring is still gaining ground, and now is the time to use it before it becomes the new norm.
Standardized interviewing
Pre-recorded interviews don’t dehumanize the process. When you ask all candidates the exact same questions in the same manner, you just displace the human factor bag.
Employers’ different moods, being nervous, busy, and trying to finish the interview faster — all of these inevitably affect the candidate and the course of the conversation. Hiring with asynchronous interviews at the core equalizes everyone, which means it makes the search for the best candidate more objective.
The recruiting cost & time savings
By using a pre-recorded presentation of your company, open position, its challenges, and questions for potential candidates, you don't waste time repeating this for each candidate.
You don't need to waste your and your candidates’ time on completing/checking a test task if you can quickly cut off those who are not suitable because of their English level, communication skills, or company culture fit using asynchronous video interviews.
In 30 minutes’ time you can review 10+ recorded video responses and reduce your screening time.
Better collaboration and decision making
Using modern asynchronous hiring tools, rather than outdated email, allows all team members interested in hiring an employee to be actively involved in the process. CEO, CTO, Team Lead, HR specialist can review candidates watching the videos with no need to find a free slot in all of their and the candidates’ calendars and schedule a meeting.
One year ago, the common bottleneck for all company processes was the meeting room limitation. It's even funny to think about it now. You can leave behind these extraneous Zoom meetings that are distracting for work. Hiring can become convenient if all members review the candidates' interviews, provide comments, and give assessments in one place, then decide on the top candidates to move to the next round and do everything with no harm to their other tasks and mental health.
Inclusion
For many jobs, eloquence and wit are not criteria. However, many shy people, people with stutters, or people with social disorders may be overlooked when engaging in typical interviews.
For example, a developer can be super professional when left alone with a computer, but look completely unconvincing during a live interview or, God forbid, a whiteboard challenge. However, maybe they chose this ascetic job based on their preferences, and that probably didn't include socializing with people. You see your developer mostly in the chat, or moving cards in the task board, and finally in their clean code. Then what are these unnatural things and unnecessary obstacles for?