How to hit your hiring goals?
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If you've been struggling to hit your hiring goals, you're not alone.
A lot of people. Tend to overestimate what they can do when it comes to their hiring goals. I've seen so many people say
I want 50 workers within three months
or within the next month, 60 days, kind of big job coming up and need like a hundred people to get staffed. And.
I've seen it all when it comes to like, I want to expand,
I want to be in this area,
this area.
So I want to go ahead and dive into this video about hiring goals and properly kind of going into what that looks like and some of the expectations and things that you need to think of. So at this video is for you stay tuned because we're diving into it. And just as that.
Hey, I'm Krystal from Krystal, bella.co. I'm a hiring expert. And I work with tons of service-based entrepreneurs all over the world and help them attract higher onboard and retain their staff. So if that is your cup of tea, definitely
hit subscribe down below.
All right. So I want to ask you two questions. Do you know how much it is to hire one person for your company? Your cost per hire is going to be totally different than another company and so on. So forth. Don't try to copy. Don't get an average. Do you know your exact cost per hire? Like if you put this much money in hiring ads,
Into the funnel. Will it give you one worker? It should be, yes, it should give you one worker.
So you should be able to take that number and be able to amplify that. But before we decide to amplify that if, hopefully, you know, your cost per hire, because if you don't, that's where you need to start.
You need to get a baseline.
And just work on that. Narrow your hiring goals back to say, okay, for the next 30 days. I'm going to focus on one specific city. One position. And I'm gonna figure out my cost per hire.
Now once, you know, your cost per hire, I want you to be comfortable with that number.
If that number makes you really uncomfortable,
then you definitely should kind of stay there in that phase and work on reducing your cost for hire.
Instead of trying to just put so much money in and then.
Basically. Putting it into the garbage can.
All right. So. Start there now after, you know, your cost per hire, you're comfortable with your cost per hire. And if you don't have it again, you're just, that's going to be your first step.
So second, I want to ask you, do you know your cost for turnover? Essentially, if you hired three workers at a hundred dollars per worker and you lost two of them that month, your turnover cost would be $200.
You don't want to go again. Have this big audacious goal of hiring so many workers, and then you're losing all of them because your turnover rate, you would want to fix this leaky part in your bucket and your hiring process , your company or systems and fix this one first.
And just go back to step one where you're getting comfortable with that cost per hire. And starting there.
Sometimes it's a cycle and you have to go through it a few times before you could escape onto the new path of breaking out with new hiring goals and being able to reach and hit those goals.
It's going to make you hit those goals a lot faster versus put so much money in, probably make you go bankrupt. Or so on, so forth because you just thought you were going to do this and you didn't,
I don't want you to get there and have that. Big epiphany at the end.
So that's your second step is to know your turnover costs.
And if you know that number awesome. Are you comfortable with it?
Before we dive into your ad budget I want you to really get. Uh, monthly hiring goal. So, yes, you may want 50 workers, but break it down. How many do you want to get per month? You need to know that number. And then you also need to times that by your cost per hire. And are you able to spend that much in ads? let's say.
You wanted to hire 10 workers this month, but you know, if you hired 10. Then you would probably lose five by the end of the month. So if I really wanted to hire a 10, I would have to hire like,
15. Or so. Right. So then that would be your actual hiring goal for that month. If you factored in your turnover for your work for your workers. And again, you could work on reducing that long-term but just use your actual numbers for now. As a baseline.
So let's say 15, 15 times your cost per hire, which let's say is a hundred dollars. It would be a $1,500 ad budget.
Now that would, again, we're getting somewhere, right. We're kind of working these numbers through 1500. Okay. Can you do that? If not, it may take you longer to get to your hiring goal and you need to anticipate that.
Or reduce your churn and, you know, you can get that lower, but again, it takes time. Right.
But you've gotta be comfortable with your process and how long it's going to take you to get there.
You've got to have a realistic expectation.
Now. The next part is if you really got 10 workers to stay on board or 15 workers, would you be able to give them 15 hours of work on the schedule within the first seven days of them getting started?
If the answer is no, then you're going to have a higher turnover rate and you would want to scale that back. How many workers can you actually give a full time schedule? Bare minimum 15, 20 hours within their first seven days of. Getting fully onboard. Right. So you want to have all these considerations on getting your monthly.
Hiring goal. Once you are comfortable with that number and you're like, okay,
Well, I want to grow that fast, but I can't really give them that much work on the schedule. Okay. And then start there. Start with that. And then factor in your turn, your turnover, rate the budget, get comfortable with some of those numbers.
Then you can go to the next part. So I know that was a lot, hopefully that made sense. As far as considering all the things you need to consider to get your hiring goals, all dialed in so you can hit them next. Check out this video right here. We dive into calculating your hiring budget and dispersing it along the jobs to help you get the best results. If you liked this video don't forget to hit the thumbs up and smash that subscribe by an analysi and the next one
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About Me
Hey there, I'm Krystal!
As a Recruiter and an exceptional Hiring Expert, my passion lies in guiding entrepreneurs on the art of attracting, hiring, and onboarding talented individuals. By enabling them to cultivate their dream team, I empower entrepreneurs to foster business growth while achieving a life of delegation and mental freedom.
