Human capital is often cited as a company’s most valuable asset. Historically, businesses focused more on revenue streams and output than the people generating their success. Today, the opposite is true. The HR department is gaining a reputation as a commercial outcomes influencer, and many departments rely heavily on video collaboration.
Invest in HR’s Needs to Improve Business Outcomes
In an effort to cut down on costs, many companies prevent HR departments from investing in technological solutions, such as video collaboration tools. Management doesn’t always see the link between the HR job function and the revenue stream.
HR professionals choose job candidates, conduct training sessions, oversee reviews, and promote a culture of learning and change. The department is poised to improve productivity, increase retention rates, and facilitate communications between management and employees. All of these outcomes directly affect important business goals, including cash flow, the rate of innovation, and employee engagement.
Boost Recruiting, Reviews, and More with Video
Video collaboration tools allow HR professionals to better work within their own departments and communicate with other individuals in the organization. They can use collaboration tools in a number of ways to strengthen employee culture, productivity, and inclusivity. Some of the benefits video collaboration provides include:
1. More effective interviewing. A recent study showed that 57 percent of job applicants prefer a live video interview. Conducting live video interviews actually helps HR managers have a better understanding of their candidates’ behavior, as opposed to voice-only interviews which limit the interaction. For example, PricewaterhouseCoopers (PwC) hires 11,000 college graduates every year, and it uses video interviewing to offer more candidate and recruiting team flexibility.
2. Access to a larger, more qualified talent base. When recruiters can widen their geographical net to include candidates from all over the world, they increase the likelihood of finding qualified individuals who add value to the company over time.
3. More effective training and engaged learning. Interactive learning experiences improve retention rates for learners and give trainers an opportunity to engage with employees and provide real time feedback and encouragement. Companies such as Ace Hardware use video-based tools to train sales teams on how to create a positive customer experience that sales representatives might not access without a video solution. Stores that include video-trained sales representatives performed better on average than those using traditional training techniques.
4. Better benefits education. Benefits administration is one of HR’s many functions, but employees lose as much as $750 every year on benefits errors. Video collaboration tools can help HR professionals reach employees with the information they need to save money and stay healthy at work every year. Using video tools, the department can schedule benefits educational programs more than once or twice in a year.
5. Improving remote employee engagement. Remote employees can easily feel isolated, lose satisfaction with their work, and stop performing well. When HR departments use video collaboration tools during retention activities, they can improve remote employee engagement rates. As many as 87 percent of remote workers report feeling more connected to their businesses with video-based tools.
Small and large HR departments can benefit from using video collaboration tools to improve key business outcomes. Now is a great time to start looking at how video collaboration can enhance your everyday goals as an HR professional.