480-716-5333Before exploring the ROI when hiring the correct candidate for a key position, we need to confirm that hiring the wrong candidate is generally expected to cost the company one and a half to two times the position’s salary. But the damage is far more than financial. The impact of a poor hiring selection can create added stress and challenges for the management team, decrease the morale and confidence of other vital employees, and even create doubt in the minds of the management team. These issues can linger long after the wrong person is removed from the company.
Conversely, each company’s ROI on a good hiring selection is a sliding scale. However, many immediate but less tangible critical returns are discovered, ranging from increased business continuity and flow to the ability of other key staff to restore their entire focus and energy on their role and contribution to the overall company’s success.
Potere Search Successes Deliver More Than Just Impressive ROIs
A client with a long-time controller reached out to Potere Search to locate a replacement who would guide the company to the next level. The current controller had reached around $75M a year. But the leadership was ready to find the candidate who could take them to 200, 300, and 400 million a year. The added skillset beyond the typical job duties of this new hire were more visionary capabilities. We were fortunate to contact and deliver the first person we felt could successfully fill the role, and the client agreed.
Within a year, the new hire was promoted to CFO. In four years, they were the company’s new president and had surpassed $500M a year in revenue. In this case, the ROI was certainly met swiftly as the right candidate clearly met and exceeded the client’s expectations in their impact and the growth of the business. However, this ideal match for the client also eliminated the need or desire to invest in a search a year later for a new CFO and then the need to hire a new president when the founder was ready to step away from day to day operations.
The Added Value Of Potere Search
Simply put, the cost of hiring the wrong candidate is more than a monetary loss. But the reward for making the right selection when filling a critical management role is one that has almost unlimited potential to reward the business both financially and culturally for the life of the business. Potere Search is here to provide those quality candidates who will fill your immediate needs today and possess the ability to grow with the company to continue to reward you for your dedication and insight into this crucial process.
