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
Event Interview: Maryam Rofougaran From Octane OC's Technology Innovation Forum
Nicole Arvizu: Human Resources VS. Recruiting. Who Will Come Out Victorious
Event Interview:Paul Pickle From Octane OC's Technology Innovation Forum
Event Interview: Ryan Permeh From Octane OC's Technology Innovation Forum
Tom Chaparro: How To Pick The Best Search Partner For You And Your Company (a somewhat biased perspective)
Lynn Taylor: Is It Possible To Transform Underperformers Into A-Players Just By Changing Seats? Spoiler Alert…...Yes!
Ron Herrera: Benefits Strategy For Attraction And Retention. Thoughtfully Crafted To The Demographic Of Who Your Company Is Attracting
Richard Franzi:Unintended Consequences Of A Poor Hiring Process
Ville Houttu: Maximizing Transparency And Trust. This Bold Step Thrust One Company Toward Massive Success!
Chris Steely: Unconscious Bias And How To Eliminate It From The Hiring Process
Nick Livingston: Improving Communication For The Interview Process Will Increase The Likelihood Of Making A Great Hire!
Todd Raphael:Hiring Practices That Are Driving Great People Away From Your Company!
Special Episode: Brenda Diederichs And Hilda Gracia From Orange County's Largest Mixer Discussing The Ways County Of Orange Creates Growth Path For Their Employees
Special Episode: Ryan Logan From Orange County's Largest Mixer Sharing His Expertise On Succession Planning For Your Company
Special Episode: Tom Hobbs From Orange County's Largest Mixer On How To Build A Sales Organization
Leisa Reid: The 3 Keys To Transformation For Yourself And Your Business!
Ken Schmitt: Building Your Talent Bench. How To Develop Strategies For Planning, Building Pipeline And Developing Relationships With A-Players!
Hicham Semaan of Tech Coast Angels: Metamorphosis From Solopreneur To Entrepreneur
Deborah Kantor: How To Treat People In The Interview Process. An Interview Is A Two Way Street. You Need To Sell The Person As Well As Them Selling You
Scott Kuethen: Structure Your Interview For Success! Plan, Prepare And Execute A Process That Gets To The Truth Of Who The Person Is Across The Table From You
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