We often hear data on how much bad hire costs you and your company. About 3x the person’s annual salary.
But how much did the interview process itself cost?
For a startup to make a hire, the company spends about 73 total hours interviewing. With the most significant cost being 30 hours of the production team's combined time. And this is assuming that 6 people make it through a full interview to get to the hire.
We have to ask ourselves, can we really afford to lose almost 4 days of productive activity to interview? Roughly $9,855 per role, not including candidate marketing or recruiting fees.
As a small business, the answer is NO!
Guest Bio:
Rocky Lalvani of Profit Comes First, serves as Chief Profitability Adviser for business owners. He teaches them how to ensure they get paid and make profit a priority! As a certified Profit First Professional he implements Mike Michalowicz's Profit First System.
Rocky started with nothing when his parents immigrated to the United States when he was two years old, and his parents were in their 40's. It was his parents' second time starting over in life as they moved here to experience the American dream.
In spite of a lot of struggles and his mom passing away when Rocky was 7, he has been able to achieve financial and life success. Rocky loves to share his journey and inspire others to achieve their dreams even faster.
Today we discuss:
Challenges today?
Why is this important to the company?
Rick’s Nuggets
How do we solve the problem?
We change the accounting formula of Sales - Expenses = Profit to Sales - Profit = Expenses. This ensures Profit comes first! (PS. It's not about money at all costs, people come before money!)
Rick’s Nuggets
Key Takeaways that the Audience can plug into their business today! (Value):
Guest Links
Host Links:
Show Sponsor:
www.stridesearch.com
Ben Mones- Need to Fill VS. Cultural Alignment
Lorraine Ladd: Learning Your ABC's. Always Be reCruiting!
Steve Higginbotham: Employee Engagement Starts From the Interview. Broken Interview, Broken Engagement!
Dr Deena Brown: The Hiring Power of Relationship Capital! Or You’ve Been Cat-fished
Ken Middleton: Thank You for Ghosting Me During Your Interview Process
Anderee Berengian: Hiring Good People is Hard....Not if You Hire for Culture First
Shane Bernstein: Removing the Obstacles (Comparison Shoppers) that are Slowing Down Your Hiring Process!
Marinela Gombosev: An Alternate Route for a Startup to Hire Salespeople
Angel Iscovich: Routine Hiring is Great for Business!
Lee Caraher: Boomerang Hires Knock Out All Others!
Mitch Balzer: Comparison Shopping has No Place in Your Hiring Process!
Diane Lee: Interviewing Etiquette Brings Out the Truth
David Ferguson: Do Personality Assessments Create Lazy Interviews?
Anthony Camacho- Sniffing Out Excellence When Hiring Salespeople
Mike “Batman” Cohen: Let's stop talking about Diversity & Inclusion as a Strategy
Special Event: Erik Huberman from TiECon SoCal
Mark Angel: How to Hire, Build Process & Lead in a Distributed Startup
Special Event: Beerud Sheth from TiECon SoCal
Ernie Basulto: Non-Verbal Clues to Discover the Truth in the Interview
Special Event: Brian Frankel from TiECon SoCal
Join Podbean Ads Marketplace and connect with engaged listeners.
Advertise Today
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Organic Marketing Simplified: Master podcast marketing, fuel podcast growth, and make money podcasting!
THE GO BIZ GUY
The Sigma Femme Podcast
The Prof G Pod with Scott Galloway
Habits and Hustle