Save Money on Your Next Hire with an Executive Hiring Agency

In today’s fast-paced world, there is a lot riding on the people you hire. In fact, the CEO of Zappos estimated that the cost of bad hires to be over $100 million for his company. The old adage rings true: you’ve got to spend money to make money. Nothing comes without a price, and that includes the time and effort that you put into finding your next hire. The hiring process—no matter the position you are hiring for—is an expensive undertaking.

When you decide to go with an executive hiring agency, you are extricating you, your operations, and your money from the burden of worrying where your next hire will come from.  This frees you up to handle the tasks at hand that actually drive revenue. This is a job that only an executive hiring agency like NewConfig can do for you. So, what are the problems with hiring internally? And what kind of benefits can an executive hiring agency like NewConfig bring to your business?

The internal hiring process

Startups are booming across the world. Millions of companies are burgeoned in the U.S. every year, and along with that a hefty cost for hiring new employees. While startups are taxed with low budgets and wherewithal to hire new people, larger corporations can still bear a hefty burden for hiring. And if you are not exactly sure what kind of candidate you are looking to fill the position, you are in a sense taking a shot in the dark when you recruit a new employee.

This is perhaps even more costly for a C-Suite-level hire. You want to ensure that the person who is a champion of your company is the right person for the job. That means that you have to spend more time vetting individuals, and that also means more money spent by your internal hiring team. This is what NewConfig helps you with—finding the candidate that best meshes with the values of the company and the experience required to do the job well.

Having a talent team, whether you’re running a large or small organization, can run its own risks. For one, you’re paying for a squadron of recruiters to pinpoint the exact right hire—an expense in its own right. And if your team doesn’t get it right, you are looking at a mountain of fees when the hire is turned over. And the months-long cycle to find the next executive begins again.

The executive hiring agency difference

Landing the right executive hire can mean all the difference for a business. This is a person whose values and drive align with that of the company—it’s hard to put a price on that kind of monumental impact on a business. That is until you find yourself in a rut of experimenting with countless candidates and burning a hole in your pocket.

As a business owner, you want to be able to focus your energy on the revenue-driving aspects of your business. This means funneling your budget into the portions of the business that will grant you empirical growth at the end of the day. Fortunately, with an executive hiring agency like NewConfig, you can focus all of your time and energy on the things that matter.

In her 2018 article “How To Hire” in the Harvard Business Review, Patty McCord recalls her days at Netflix, a once-new frontier of business, and the pivotal role that recruiters played in the hiring process.

“Recruiters must be considered vital contributors to building the business, McCord writes. “They need to deeply understand the needs of the business, and hiring managers need to treat them as business partners.”

The initial money you have to invest is perhaps more than if you were running your own hiring internally. However, the knowledge, network, and expertise with executive recruiting that you inherit with an executive hiring agency such as NewConfig will grant you the highest pedigree of talent for your business. This is of paramount importance in such a rapidly-changing economic landscape. It’s not enough to headhunt for experience anymore—you have to be able to seek out those who display the potential to change the status quo and help you be on the forefront of your industry.

Have you been spending a boatload on internal executive hiring to no avail? Do you feel like you are looking in all the wrong places for an executive candidate that leads instead of maintaining? If so, it’s time to give an executive hiring agency like NewConfig a shot. We are in the business of finding the best and most forward-thinking executive talent.