How to Hire the Right People for Your Team and Save Money


Hiring the right people for your team is easier said than done. Many entrepreneurs put time and effort, and it turns out that person isn’t the right fit. This Money Talk episode, Michael shares why that is and one simple step to steer you towards the right direction.

How to Hiring the Right People for Your Team[00:10] Recruiters tend to focus on job titles instead of job descriptions. Too many job titles out there but without a single common definition. Every time you hire new employees to your team, you cost time, your resources, and reduce productivity to help the person onboard successfully. After few days, they left. Because they find out the job wasn’t the one they’re committed to. And you have to start all over again, and again.

Where goes wrong while hiring

So, a better way to hire people is to think through the job description. For example, people usually come to us and said, “Hey, I’m looking for a CFO.” Then, we’ll ask, “What does that mean to you?” It turns out we got quite a different definition from these people. Some people think CFO are people who are making a strategic decision. Others think CFO are people who do forecasting. Also, some people think CFO are people who go out and negotiate fundraising deals.

As you can see from the example above, people have different definitions of the same job title, so do a job seeker. Without a clear job description, you won’t know what you exactly need them to do, and you can’t measure their performance. More importantly, you don’t know how much you should pay them.

A quick fix to improve your hiring process

Instead of thinking about job titles, you should think about the job description. A better way to do that is to look at your business, map out the processes, and see which puzzles you’re missing. Start from there, go out and look for suitable candidates or outsourced providers.

Go ahead and try it, you’ll find out this will do wonders for your business. Until next time. Hope you guys growing profitably. Give us a shout-out or contact us if you have any questions.