Starting next year, according to this Bloomberg article- Goldman Sachs Scraps On-Campus Interviewing for Robo-Recruiting, Goldman Sachs will hire all 2500 of its undergraduate interns without a single face-to-face interview...on campus. Reporting that they draw interns on 225 college campuses in the US alone, Goldman could reduce some serious travel costs even if the bulk of their targeted colleges are a fraction of that total. For now, on-campus MBA interviews and informational events at targeted colleges will continue to be 'real' rather than virtual but even that could change.
In addition, this first round of interviews will not have a 'live' employee on the other end. Instead, they will all be asynchronous interviews (1-way responses to teed-up questions) that are evaluated when reviewed by recruiters and hiring managers can get to them using technology tools that the platform (HireVue in this case) supplies to increase cost efficiencies and impart significantly more consistency to the process.
Not the first to go all in but Goldman's decision has drawn extensive coverage in major media outlets (see this article by Pete Abilla at Hirevue) and suggests a trend we don't think is reversible. Employers will eventually realize that the bandwidth to allow every candidate that applies automatic encouragement to move forward from their application (or expression of interest) to an asynchronous screening interview as a minimum requirement of candidacy is already at hand and, more importantly, a benefit to both the employer and candidate...just not fully appreciated by either just yet.
Employers willing to go beyond the obvious cost reductions and invest in positioning both the application and [universal] interview opportunity as one means to increase the perception of fairness about their process (eliminating unconscious bias at this stage) and broadening the opportunity for quality candidates normally excluded (not targeted colleges) will reap the rewards. A single platform for all interviews, coupled with fewer but more highly trained evaluators...and, eventually, AI evaluation and selection will likely show stronger (longitudinal) predictive correlations to performance goals aligned to the business as reliability coefficients increase (and employers learn how to collect good data).
Initially, solid education (messaging) and training of candidates about the benefits of participating in asynchronous interviews (as well as opportunities to practice) will be essential to minimizing any abandonment of the process due to misperception or lack of confidence in using the medium. Long term it should not be a problem as a casual glance in the direction of any teenager will show them using asynchronous communication tools on a daily basis.Discuss this article & related topics on the CXR eXchange.