How Raiffeisen Bank implemented VCV to recruit interns
Sooner or later any system of recruitment needs modernization. Raiffeisen Bank often pilots better tools on the opening positions.
| CASES
Mar 29, 2019
Firstly, young candidates like companies which keep up to date and match the digital age. Secondly, the young are not scared of innovations. Thirdly, graduates and students are usually the most motivated candidates. In 2016 Raiffeisen Bank started to rationalize the selection system of interns through new technologies.
The focus of the internship programs is to attract the best students from the leading universities. Interns work on projects, decide themselves responsible tasks and learn from experienced coaches. To find young people that will be able good at this job, and then to raise those to managerial positions, the bank conducts traditional steps of selection: screening resumes, testing, phone interview, assessment centre and appointment with potential executive. Recently we added the process with a new stage – asynchronous video interview. But first things are first.
The focus of the internship programs is to attract the best students from the leading universities. Interns work on projects, decide themselves responsible tasks and learn from experienced coaches. To find young people that will be able good at this job, and then to raise those to managerial positions, the bank conducts traditional steps of selection: screening resumes, testing, phone interview, assessment centre and appointment with potential executive. Recently we added the process with a new stage – asynchronous video interview. But first things are first.
Resume
Candidates choose the functional direction, where they would like to develop, fill the registration form and send us their resume. The internship program is planned for:
- Undergraduate students of 4 year, postgraduate students as well as recent (not more than 1 year) graduates;
- Students of specialized universities and professions: financiers, economists, marketers, IT-specialists, mathematicians, engineering students and lawyers;
- Those who knows English well (level Upper-Intermediate and above).
In 2016, we received 2569 applications, 1676 of which were endorsed, that is 65 percent of wishing to get on internship in Raiffeisen Bank crossed the first stage.
If the selection phase on the summaries was completed, we invite the candidate to take part in testing.
If the selection phase on the summaries was completed, we invite the candidate to take part in testing.
Tests
This year candidates were numeral and verbal tested. In the numeral test it was checked their ability in the limited time efficiently to analyze information presented in tables and graphs, make calculations and draw conclusions. The verbal test gives an idea about candidates' ability to read rapidly, to learn and to remember text information, to use logic.
In short, it reveals something without which is unthinkable work in banking.
The guys who have successfully passed through tests (1151 people in 2016), cross to the next stage of selection.
In short, it reveals something without which is unthinkable work in banking.
The guys who have successfully passed through tests (1151 people in 2016), cross to the next stage of selection.
Asynchronous video interview
To alternative methods of assessment we were actually already looking for a long time.
Asynchronous video interview doesn't require the simultaneous presence on the connection of the recruiter and the candidate. We used a video interview platform VCV.
Asynchronous video interview doesn't require the simultaneous presence on the connection of the recruiter and the candidate. We used a video interview platform VCV.
How does it work?
The recruiter in advance establishes a list of questions, sets the time limits on answers. The candidate receives a unique link (URL) to the site, where the system consistently spends him on all questions. Candidate writes the answers on the video directly from the site. When all the answers are recorded, the recruiter can listen to answers at an opportune for him / her time.
We asked 12 questions and gave two minutes on every. The thematic of answers: achieve the result, the readiness to solve several issues at the same time, willingness to act in unusual situations, etc. Some questions we asked on English to test the knowledge of the language.
We asked 12 questions and gave two minutes on every. The thematic of answers: achieve the result, the readiness to solve several issues at the same time, willingness to act in unusual situations, etc. Some questions we asked on English to test the knowledge of the language.
1
Example of the questions:
Tell about the situation when you made a mistake (at work or school).
a) What upset you the most?
b) What would you do differently, if faced with a similar situation again?
c) How way did you understand, what should have done in this situation?
Tell about the situation when you made a mistake (at work or school).
a) What upset you the most?
b) What would you do differently, if faced with a similar situation again?
c) How way did you understand, what should have done in this situation?
The format of asynchronous interview is a useful addition to a phone interview. Video gives more info about the person, than a resume, to the video you always can return and watch one more time, share a link with line manager of the potential employee. In 2016 669 candidates were tested through asynchronous video interview.
Despite the fact that young people in general are loyal to the innovations, some candidates refuse to sign in. The reasons are different: sometimes a person has not a camera or a microphone, sometimes something isn't working correctly. And there are those, for whom it is important to come personally for an interview, to talk to people and to look at the workspace. We try to meet everybody, and in case, if to pass the video interview isn't possible, we duplicate questions within a phone interview.
Despite the fact that young people in general are loyal to the innovations, some candidates refuse to sign in. The reasons are different: sometimes a person has not a camera or a microphone, sometimes something isn't working correctly. And there are those, for whom it is important to come personally for an interview, to talk to people and to look at the workspace. We try to meet everybody, and in case, if to pass the video interview isn't possible, we duplicate questions within a phone interview.
Telephone interview
Some questions from the phone interview we shifted to the service vcv, so our conversations became shorter. Now we ask over the phone questions on motivation: what, for what purpose, why? It is important for us that a person, during answer the questions, has not been limited in time and was able to make conversation. We also feel in all the gaps and find out everything that remained unclear after reading the resume.
For candidates who for various reasons didn't pass an asynchronous video interview, we're having a full telephone interview. This stage is sometimes final; 104 candidates were passed it in 2016.
For candidates who for various reasons didn't pass an asynchronous video interview, we're having a full telephone interview. This stage is sometimes final; 104 candidates were passed it in 2016.
Assessment center
In the assessment centers we are looking to potential:
- for decision-making;
- to build interpersonal relations;
- for innovations and changes;
- to achieve the result;
- to work on themselves.
Candidates, who performed well in the assessment center, go to the final stage – interview with the executive. If the last stage had been completed successfully, the candidate receives the offer of internship.
The elongated chain of selection, surprisingly, saves our recruiters' time. Asynchronous video interview helps us to assess candidates by correspondents and to exclude unsuitable even before private meeting.
We used the internship programs as a testing ground for new technologies. We are currently testing asynchronous video interviews for recruitment of more experienced candidates. Of course, experts with the experience are not so willing to record videos, how students and graduates, burning desire to get into our bank. In any case, asynchronous video interview is an interesting tool in the arsenal of the modern recruiter.
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