“The key for us, number one, has always been hiring very smart people.” – Bill Gates
The Cost of bad hires is higher than you think...
Well-known recruiter Jörgen Sundberg puts the cost of onboarding an employee at $240,000. And, according to the U.S. Department of Labor, the price of a bad hire is at least 30 percent of the employee's first-year earnings. Other impacts include:
- Lost opportunity
- Cultural impact
- Management burden
hiring is a full time job
That's particularly worrisome if the person in charge of hiring is one of the founders, CEO or head of Operations. 80% of managing your hiring funnel is simply vetting out the people who aren't promising candidates.
This means if you don't have a full-time recruiter in-house, someone (usually part of the leadership team) whose time could be spent on strategy, growth and business-building is instead stuck filtering through mediocrity.
DONE RIGHT, HIRING IS PART ART, PART SCIENCE.
Your hiring funnel should be built and optimized to attract the right kind of candidates and rigorously filter out the wrong type. It should be built to scale, but also imbued with your startups' unique DNA and culture.
We specializing in building and managing recruiting ecosystem's for startups. It's both our passion and all we do, so you can rest assured you'll be getting a hiring funnel that is best in class.