Discover how much video interviews really cost compared to traditional hiring methods, and why 69% of UK employers have already made the switch.
In today’s fiercely competitive job market, UK businesses are scrambling to find efficient ways to recruit top talent without breaking the bank. The pressure to streamline hiring has never been greater, and video interviews have emerged as the game-changer.
But here’s the question every hiring manager is asking: what do video interviews actually cost, and how do they stack up against traditional methods?
When most people think about interview costs, they focus on the obvious stuff – maybe a bit of time here and there. But the real picture? It’s much more complex than that.
The Real Cost Breakdown:
When you add it all up, traditional face-to-face interviews in the UK typically range from £100 to £500 per candidate. And that’s just for one round – most hiring processes involve multiple stages.
Here’s where things get interesting. Video interviews are slashing these costs dramatically, and the data proves it.
Recent UK statistics show:
What Makes Video Interviews So Cost-Effective?
At Talenscio, our clients regularly process 000’s of video minutes monthly, with some handling 100+ candidates daily during peak recruitment seasons. The efficiency gains are remarkable.
Want to work out exactly what video interviews cost your organisation? Here’s the step-by-step approach we recommend:
Step 1: Personnel Costs Calculate hourly rates for everyone involved – recruiters, hiring managers, panel members. Don’t forget to include benefits and overheads.
Step 2: Time Investment Estimate total hours: prep time, the actual interview, post-interview evaluation and decision-making.
Step 3: Technology Costs For video interviews, factor in platform subscriptions. The good news? Modern platforms are incredibly affordable.
Step 4: Additional Expenses Any remaining costs – though with video interviews, these are minimal.
Real-World Example: Traditional interview process for 50 graduate candidates across 10 roles:
Talenscio video interview process for same 50 candidates across 10 roles:
Savings: £19,010 (73% reduction)
Cost reduction is brilliant, but it’s not the only advantage. Video interviews deliver benefits that traditional methods simply can’t match:
Wider Talent Pool: Geographic boundaries disappear. You can interview the best candidates regardless of location.
Better Candidate Experience: More convenient for candidates means higher acceptance rates and improved employer brand.
Improved Record Keeping: Many platforms allow interview recording for future reference or additional stakeholder review.
Faster Hiring Cycles: Reduced coordination complexity means quicker time-to-hire – crucial in competitive markets.
Enhanced Fairness: Standardised processes and consistent evaluation criteria reduce unconscious bias.
Unlimited Scalability: With platforms like Talenscio offering unlimited interview responses, you can assess as many candidates as needed without additional costs.
So, how much do video interviews cost? The answer depends on your specific requirements, but the data is clear: video interviews typically cost 70-95% less than traditional methods whilst delivering superior outcomes.
With UK hiring costs averaging £3,000-£6,998 per role²,³, organisations that haven’t adopted video interviews are essentially choosing to overpay for slower, less effective recruitment processes.
Key Takeaways:
Ready to calculate your potential savings? The numbers speak for themselves – video interviews aren’t just the future of recruitment, they’re the smart financial choice for today’s hiring challenges.
At under £1,000 annually for unlimited interview responses across 10 live positions, video interview platforms like Talenscio offer extraordinary value. When a single traditional recruitment cycle can cost £26,000+, the ROI is undeniable.
Sources:
Want to see how much your organisation could save with video interviews? Contact Talenscio for a personalised cost-benefit analysis based on your specific hiring needs.
Ready to start using video interviews? Talenscio offers a freemium plan so you can run a live campaign and test the advantages for yourself: View Plans & Freemium options