An efficient and cost-effective hiring process is the cornerstone of any thriving construction business. With the right hiring practices in place, you can rest assured that the new hires are capable of carrying out their duties and meshing well with your current team.
Unfortunately, many project managers are still relying on outdated or unproven hiring techniques which end up draining their already strained budgets. Here, we’ll take a look at some ways construction managers are throwing away money when hiring.
Spending money you’ll never recover.
The most painfully obvious way project managers lose out financially with poor hiring practices is the amount of money spent on a new hire. When you look at each step of the onboarding process individually, the costs don’t look that bad. Zoom out and you get a completely different story. According to a report by the Society for Human Resource Management (SHRM), the average business spends $4,129 to hire a single person. Yikes! Every time a potential hire doesn’t work out, you’re losing thousands of dollars that can never get recouped.
Wasting valuable time.
As a project manager, your time is extremely valuable. Every minute you spend on a bad hire is time that could’ve been spent doing more productive things. The same SHRM report suggests that businesses spend an average of 42 days hiring new employees. Even if you only contribute an hour each day to filling a vacant position on your construction team, that still adds up to an entire week worth of work. We’ll let you work out that math. (Hint: it’s a lot of money!) With a more productive and streamlined hiring process, you can rest assured that the time you’re investing will pay off with a successful hire.
Trying to do it all alone.
Hiring the right person for the job is much harder than it sounds. It requires a complex and time-consuming series of steps including:
- Creating an accurate job description
- Pooling potential applicants
- Actively reaching out to prospects
- Reviewing countless applications
- Standardizing onboarding procedures
And that’s not all! In an attempt to cut down on hiring costs, many project managers try to tackle this job all alone. Ironically, this just leads to more expenses for the company when bad hires make it through the cracks. It’s better to spend the money you need at the onset for a robust hiring strategy to make sure you don’t have to pay for poor hires down the road.
Using outdated hiring techniques.
Hiring isn’t rocket science, but it’s not a walk in the park either. First and foremost, project managers are responsible for making sure everything on the job site goes according to plan so the project is completed according to client specifications. It’s not that hiring isn’t important but rather that it comes secondary given the other responsibilities construction managers are handling. This juggling can lead to underprepared hiring where managers use instinctive techniques which are often outdated or ineffective altogether. The best way to avoid the losses associated with bad hiring practices is to tap into the expertise of a hiring expert with the right tools already in place.
Refusing to use hiring experts.
Tired of wasting money on inefficient hiring practices? Of course you are! But it doesn’t have to stay like that. You can get the qualified talent you need while still reserving your expenses for other project costs. For over a decade, Madden Craftsmen has been helping local project managers and construction business owners find the right craftsmen for the job. We have an extensive network of highly skilled and thoroughly trained employees eagerly looking for a position on your site! With such a valuable and cost-effective resource available, project managers are literally tossing money out the window when not working with hiring experts.
Why project managers need to use Madden.
Save a lot of money.
All of the ways construction managers tend to waste money in the hiring process can be avoided when working with a hiring expert like us. All of those funds can be put towards landing new project bids, buying new equipment, or anything else needed.
Get access to a larger talent pool.
You’re looking for something very specific when hiring a new craftsman. With Madden’s massive talent pool, you have a better chance of finding exactly what you need.
Increase your hiring speed.
Every day that passes with a vacant position is a day you’re losing money. Since all of our efforts are focused on hiring the right person for the job, you’ll have the position filled in no time.
Limit your liability.
When working with Madden, you get robust protection from injury claims. If an employee we provide gets injured on the job during the temp-to-hire phase, all costs and penalties are covered by us!
Struggling to find the talent you need? Madden Craftsmen can help! We specialize in helping local project managers find skilled craftsmen for their projects. Contact us today to learn more about what we offer. Let’s build something together.