My Open Jobs, LLC / Recruiting Bytes

#14: Understanding the value of top talent

recruitingbyteslogoYour revenue is dependent upon your ability to locate and hire the key people you need. Understanding the value of top talent is the first step in the recruiting process. Until you know what a potential employee is worth to your company, you can’t determine what you’re willing to invest to recruit them.

The value of someone who’s employed with you also translates to a monetary loss for every day that the position stays open. So, what are they worth to you?

The fact is; every empty truck costs you money. Although it varies based on the market you’re in, it always costs you money. For Service People, it’s at least $50.00/hr ($100,000 a year) in lost sales from service, equipment and parts.

So, a good Service Person is worth at least $100,000 a year to you, but you also lose $400 a day for every single day until you find one. How much money are you willing to lose? Making recruiting part of your daily strategy will significantly shorten the time to fill any open position by building a pipeline of potential applicants in case you need to fill one of those empty trucks.

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