The Cost of an Interview

At Appliqant, we are dedicated to saving companies time and money while simultaneously finding them the best-qualified candidate for a position. How much does the average company spend interviewing a candidate? The numbers may surprise you.

Screening & Scheduling Applicants

Imagine a hiring manager takes a few minutes to review every applicant who applied for their position. For a single position, they may receive up to 50 applications. Taking three minutes each to screen these applications takes a total of 150 minutes (2.5 hours.) They may then spend 15 minutes writing emails and corresponding with each of the 5-7 candidates they select for a first phone interview.

Per candidate: 18 minutes

Total time: 150 minutes (2.5 hours)

Screening (Phone) Interview

The average screening interview takes 15-30 minutes. This interview covers the basics of the person’s experience and generally means the hiring manager is trusting their gut instinct on whether a candidate is a good fit for the position. For 10 candidates, this stage can take up to 300 minutes (5 hours).

After this round, the hiring manager will typically invite 3-5 finalists for an in-person interview. This takes an additional 15 minutes per candidate of coordination.

Per candidate: 63 minutes

Total time: 525 minutes (8.75 hours)

In-Person Interview

Once candidates pass the phone screening, they are ready for an in-person interview. Sometimes, organizations have several rounds of in-person interviews with the top candidates. For a single in-person interview, expect to spend at least one hour plus an additional 15 minutes coordinating and orienting the candidate.

Per candidate: 138 minutes (2.3 hours)

Total time: 900 minutes (15 hours)

The Cost of an Interview

For a traditional hiring process, a recruiter should expect to spend between 2-2.5 hours per candidate coordinating and conducting interviews. If the candidate goes through multiple rounds of screenings or in-person interviews, the time requirement increases dramatically.

If the average recruiter bills roughly $40 per hour (based on the US national average of HR managers making $81,000 per year), this equates to a cost of $100 per candidate, with screening alone costing an average of $40 or more per candidate.

Investing in Appliqant’s automated video interviewing software means your cost per applicant is decreased to $2.50 (a savings of 93%.) Plus, we include personality assessment and profiling that saves your organization an additional $10 per candidate. Appliqant’s artificial intelligence technology automatically assesses a candidate’s personality, IQ test, skills test, and interview questions to match you with the best fit for your position – saving you many hours screening applicants to find those who meet your basic qualifications.

In total, your organization could saves thousands of dollars compared to screening dozens of candidates manually. If we take the above example of receiving 50 applications, your organization could save $2,375 per job in money and productivity toward your goals.

Schedule a live demo of Appliqant’s video interviewing and assessment technology today to learn how our personalized packages can help you recruit and retain the best talent—all while saving your organization time and money.

Appliqant is an AI-infused, blockchain driven, automated video interview platform developed by the team at Quantilus.

2018-07-30T14:16:41+00:00 July 30th, 2018|Best Practices, HR Policies, Recruitment Technology|0 Comments

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