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The Hidden Cost of Not Hiring

What you save in compensation will cost your team in burnout-led turnover.

One of the biggest accomplishments in any small business is #hiring for a new role. Growing in team size and function, in many ways, legitimizes a company. After spending time carefully crafting an articulate job description, squeezing out the best salary in hopes that a candidate will overlook the lack of retirement benefits, and setting the target on every job site imaginable, one would think the floodgates of candidates would open up. That’s when the reality of a competitive job market sets in.

“Hiring challenges can be costly, but creative solutions can soften the impact."

This is a critical juncture for a few of reasons:

  1. Someone (or a team of people) is already fulfilling this job in an unofficial capacity.

  2. They’ve likely been filling this role for at least six months too long.

  3. The decision to hire someone came out of severe need for specialized experience and dedicated focus to that function.

In other words, this hire is a requirement for your business to succeed. Further utilization of current team members will cause #attrition, leaving additional vacancies.

In an era where even top #staffing agencies are struggling to fill positions, it’s important to have a packed arsenal to combat hiring challenges.

  1. Always #recruit. Even when an opening isn’t available, maintain a bench of talent. Knowing 3-5 Finance Managers before one is needed will provide a competitive advantage when the time comes.

  2. Good employees tend to know other good employees. Offering #referral incentives to the existing team allows them to feel like a part of the solution. Reward them for working their network.

  3. Get some help. CREO Growth Solutions’ #fractional support can lighten the load in the interim.

Hiring challenges can be costly, but creative solutions can soften the impact.

Not sure where to begin? Schedule a free discovery call. We’re happy to help.

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