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
Special Event: Ravi Sharma from TiECon SoCal
Erik Huberman: Dissecting a Hire Gone Wrong
Tevis Trower: Re-Humanizing the Interview Process By Shifting Our Language
Greg Toroosian: The What & Why of Your Job Description. Understanding Who You Really Need to Hire
Ryan Foland: The Problems You Solve Trump Perk-Based Employer Branding in Talent Attraction
Chris Russell: Better Ways to Post & Pray Your Job Descriptions to Life
Brendan Rogers: Lean & Scrappy, Then…Boom! You Receive Funding. Now What?
Shannon Johnson: Having the Right Mindset to Get Hired
Katie Weber: Evaluating Your Team to Get the Right People in the Right Seats
Liran Kotzer: Will AI Really Keep People Engaged with Your Company?
Craig Weber: Interviewing for Conversational Capacity
Joe Mullings: How to Choose the Right Recruiting Partner for the New Year.
Brenan German Part Deux: Overcoming Your # 1 Hiring Failure for 2019
Christian Spletzer: Managing Expectations of Time to Hire Key Talent
Charles Antis: Discovering Your Company's Purpose
Brian Breth: Sourcing the Right Players Creates a Company of Legends
Sang Huynh: Extreme Transparency, Tech Startup Style
Monica Lukoschek: The Immigration Mess!
William Tincup: People Have Options & Will Walk Away From Your Opportunity in a Heartbeat!
Lindon Crow: The Anatomy of a Recruiting Call. Stop Triggering Fight or Flight!
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