Ryan Money is CEO and founder of HireVue. Ryan â€¦ MONEY? Fortunate namesake or shrewd personal branding? I have had the good fortune (no pun intended) to meet and chat with this Utah native at various ERE and Kennedy Expo events and I had an opportunity to learn about the latest offering in Web 2.0 recruitment tools, with an online video system developed to speed the job interview process.
Money entered his HireVue business plan into the “Utah Entrepreneur Challenge” and became one of the top 10 finalists in last April. You can find Ryan referenced in several young entrepreneur articles, – the one that caught my eye was “Young and Hungry: Ryan Money”
Above all, Ryan will tell you that HireVue streamlines the hiring decision by doing away with logistical complications which cost time and money. An idealist and contrarian, Ryan Money wants to help people find their perfect job and if you ask him about his core passion, heâ€™ll tell you that he truly believes there is a perfect job for everyone, yet, the traditional hiring process is one of the core obstacles in making the introduction between job seeker and employer. Ask Ryan how he plans to change the recruitment industry and heâ€™ll tell you that he wants to break the â€œlogjamâ€ created by a mass of resumes. Ryan wants to offer solutions that will enable recruiters and hiring managers to interview applicants in greater volume, more efficiently, without a loss of personality to the equation. He wants to promote a more appealing hiring process for both employer and applicant.
Simply put, the term â€œHireVueâ€ is a play on the word â€œInterview,â€ to be seen and heard without obstacles common to the hiring process, such as time and place. The HireVue solution utilizes software that allows companies to conduct customized interviews with web video technology. It allows the employer to get a much better sense of potential employeesâ€” with an initial face-to-face, virtually. Yes virtually. Digital video solutions provide employers with first impressions, an initial interview with the usual menu of interview questions and without the scheduling conflicts between hiring managers and, best of all – without the expense of travel expenses, such as per diems, airfare, hotel, car rentals. Think Globally when considering HireVue’s advantages but it also adds efficiencies Locally in making the introduction without losing much of the personal touch â€“ especially at the early stages.
Ask Devin, founder and managing director of the Thorpe Capital Group, and he’ll name three essential advantages of HireVue solutions:
More interviews: â€œInterviews can be conducted at the convenience of the interviewee and can be viewed at the convenience of the hiring manager, we were able to interview many more people.â€
Fair process: â€œThe HireVue process gives each person the exact same opportunity to answer the same questions (we wrote the questions). This allowed us to avoid variations in the interviewer’s questions so that we can fairly compare one interview to another.â€
Peer Review: â€œInterviews can be viewed on-line, and shared with everyone who may wish to influence the hiring process, providing an opportunity for buy-in from relevant decision-makers, without the scheduling conflicts.â€
To initiate HireVue On-Site Interview solutions, clients receive up to two webcams for on-site setups at relevant locations, in addition to installation and technical support. Clients establish guidelines to the interview format with a list of specific questions that can be standardized, specific to the requisition, and customized to fit candidate profiles. (See HireVue Interview Screen Shot here)
According to Ryan, â€œAll of the candidateâ€™s interview responses are recorded into our system to provide employers an opportunity to review particular interviews at any time, and at any global location particular to their needs. This can be especially advantageous if your selection process has narrowed to two candidates. Imagine being able to compare both of the finalists back to back by simply rewinding or forwarding answers to important technical questions, digitally, and by key decision makers globally at their leisure on their computer monitors.
Employers create the HireVue format by posting interview questions directly on our website, www.hirevue.com It allows candidates to take HireVues directly at the employer site, on college campuses, or even at a candidate’s home, – and above all, it allows multi-national corporations to interview talent across the globe and mediates time zone constraints. HireVue plans to add 3rd party locations (HireVue Out-of-Sites) to promote virtual interview environments. Candidates can simply use plug and play webcams that we provide, and HireVue acts directly as an intermediary, ensuring that both employer and candidate have the necessary equipment and technical support at a time that is convenient for all parties.
According to Jim Dickie, Partner, CSO Insights, HireVue provided his clients with an SaaS offering that sped up his sales rep interviewing/hiring process by having the initial interview with sales candidates conducted virtually using a webcam and a predetermined set of questions. The candidate’s interview answers were uploaded to a sales portal, allowing hiring managers access to those interviews online at their convenience. His team was able to compare individuals by seeing how Candidates 2, 7 and 9 answered question No. 6 (on how you build loyalty within your customer base). Using this approach, his client’s sales managers were able to quickly see which candidates they want to invest more time and effort in recruiting.
As a value-add, HireVue provides employers with an opportunity to create a video introduction for each interview. Employers can choose whether to display a generic video with an overview of company services, products and an overall value proposition, whereas other clients prefer to feature specific hiring management and team members relevant to the specific environment of the requisition(s). HireVue plans to launch additional solutions which enable job seekers to take a generic interview that will then be able to be viewed and critiqued by their peers. In essence, the company is creating a virtual interview guru for the job seeker and a virtual interview coach to enhance the hiring manager(s) efficiency in the selection process. As a result, HireVue provides a mutual benefit to both the interviewer and interviewee with a forum to engage in what is often deemed a demanding process.
Employers interested in taking advantage of HireVueâ€™s Interview solutions can inquire further by registering at HireVueâ€™s website
NOTE: I should add “philanthrapist” to Ryan Money’s moniker. Ryan is participating at Recruiting.com’s charity tournament to benefit the ERE Foundation in support of education and literacy programs that provide underprivileged young people with the skills they need for future careers all over the world.
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