What is the cost of downtime to recruitment?
Any organization’s efficiency is measured by how much they have to invest in an hour, a week, or a day to get a specific planned output. Fortunately, it is easy to estimate the costs on a notepad, but there will be a need to optimize the process, which demands-resources. The goal is to plummet the risk of downtime while opting to recruit new personnel.
IT managers who want to stress how important it is to maintain a healthy technological environment must look to its bottom line. The downtime in achieving the necessary tasks would mean money lost. Ultimately, it affects customers and, thereby, the brand as well. Understanding downtime costs will make the managers think twice when enabling a set of services during business hours.
Often, there are not enough resources available to the businesses, and it may lead to downtime. We all know that recruiting a new team would involve advertising the positions, screening applications, and hiring. When you calculate the time you stayed without the resources that remained unavailable and then expenses made in hiring the talent, you will know about the real cost. The time you lost without the productive skill at work is irreversible. If you wait for the requirements to come to you and then go out for hiring, it will damage.
Understand that even recruitment is not the solution. Temporary recruitments will lead to frequent human mistakes by the new hiring, which is hard to avoid. But what you can do is invest in training to prevent their frequency, and this is also a cost you need to add when calculating the downtime. Ensure that all staff is fully aware of the technologies and applications they need to avoid this.
You shouldn’t ignore your company’s safety against downtimes; take today’s precautionary measures to ensure your productivity and profitability.
Here’s a quick way to calculate the cost of downtime related to human resources. Add up the following:
– Direct Employee Cost
– Indirect Employee Cost
– Employee Recovery Cost
– Training Cost
When you add these, you will have the downtime cost, which is tangible. We are not calculating the opportunity lost due to a lack of resources. The foreseeable project profit can also be included in the downtime cost.
What you can do instead is opt for a remote hiring solution offered by expandFORCE. With skilled resources and powerful technology, your business will benefit in the long run if you make the right choice today. The cost of hiring is any day higher than the price of rendering expandFORCE services. With us, you are saving the time that you’d otherwise spend on looking for new talent. There is no need to go out in the market to find new talent as we have a pool of talented resources available at your disposal. We are also a CloudShore service provider, offering your business with a bouquet of services like offsite and onsite staffing, 24/7 support, certified expert services, DevOps engineers, and many more. And when you look at the expandFORCE math, you understand better about the benefits of hiring experts with expandFORCE rather than going for conventional hiring that results in relatively expensive downtime.
As your business grows, you will require the Site Reliability Engineers, who can keep your business up and running. If you are looking to have such a robust mechanism in-house, you will need to follow the recruitment process. How many SREs should you set the task of preventing this for the annual cost of downtime? You will never eliminate downtime — even though you put every penny of the expense into mitigation — but it still pays to mitigate it. And there are other, incalculable costs of downtime which are beyond calculations. You can choose to address these with reliable IT support services, providing you the expert assistance 24/7.
With a traditional approach, you will miss out on capitalizing on each possible customer and may even alter current clients’ experience. Perhaps the most damaging cost of downtime – significantly if persistent – drains the employees’ morale.
You will be having a team of burned-out individuals who will churn one project after another without a break. Just because your team can achieve tasks doesn’t mean you will need to get everything done with limited resources. There will be a time when you will need expert services and quality resources—Trust expandFORCE, who can help you with quality IT cloudshoring solutions.
Get in touch with our team and discuss your downtime issues, clients’ requirements, and the scope of the project. We’ll tailor you a dedicated team of expandFORCE experts that can keep your business running without any gaps. Make a bold move today and stay ahead of the rest.