Imagine you could wave a magic wand and have 100 extra hours to spend on your business. What would you do with that time?
How in the world is that possible? The cost of finding and hiring new employees goes beyond just the financial aspect. It involves a significant investment of time, effort, and resources that could be better utilized in other aspects of the business.
I get companies that come to me and say, “Listen, Josh, recruiting is just too expensive.” I always ask them how much of their own time they spend on recruitment.
Typically, they say anywhere from 4 to 10 weeks to get to a great new hire. And that’s with the boss working many hours a week on it. So I ask, “If you were to have that time back, what could you generate? What would the value be to your business?”
Most of the time the response I hear is, “Oh, wow, I hadn’t really thought about that.”
Let’s just say it takes 100 hours. That’s a conservative estimate on what hiring a quality employee actually requires.
- The value of the leader’s and team’s time is often overlooked in the hiring process.
Could that time spent on recruiting, screening, and interviewing candidates be better utilized in generating revenue, building client relationships, or enhancing the overall operations of the business.?
- What is the real cost?
We also have to ask another question. What is having the position unfilled costing you, your team and your clients in added stress, additional work, missed expectations, and lost revenue? What would it mean if you lost a key employee or client because of a vital role not being filled in a timely manner? Not to mention considering the cost of hiring the wrong candidate. The negative impact on your company’s and clients. Productivity, culture, profitability, and reputation can all be impacted. It’s hard to even measure the true impact and additional costs and time spent on corrective measures.
Partnering with a reputable recruiting firm can help companies streamline the hiring process, reduce the time and resources invested in recruitment, and ensure they find the right candidate for the job quickly and effectively with a lower burden on you and your team.
Overall, the cost of DIY recruitment can be a larger financial burden that is initially apparent when you take into account the drain on valuable resources and your and your team’s time that could be utilized to enhance the company’s success and growth.
So, ask yourself, what can I do with 100 hours of effort that can be freed up and ensure better and faster recruiting results? Because it really is that easy.
Josh McAfee is the Co-Founder and Managing Partner at Humans Doing. With over 26 years of recruiting and team-building experience, Josh has worked with startups, SMBs, and large companies to determine hiring needs, develop our recruiting strategies and processes, and connect top talent to fuel growth. In 2021, he became a Wall Street Journal and USA Today bestselling author with his book Measure Up: Mastering Your Career Search Like a Boss.
Humans Doing is an expert team of highly skilled recruiters specializing in filling critical tech and leadership positions for growing companies. Our greatest measure of success is the success of our clients and the candidates we place with them. We help people make great hiring and career decisions. Our team is ready to partner with you to find the right people for the right roles.
