Austin Tech Leaders Digest - what's the real cost of an empty role

Welcome to the latest edition!

Staying up to date with the ever-changing tech industry can be a challenge. That's why the Austin Tech Leaders newsletter is here - to keep you informed on the latest news and developments in the tech world.

Fresh from my recent visit back to Austin in Feb was great getting back, and connecting with friends, family, and colleagues alike – nothing quite like the buzz of Austin being around so many great people. ?Look forward to heading back in March!

In this issue, as we come into Q2 we are addressing the issue so many tech companies face around an open vacancy and the real cost of this to your business – food for thought!?If it's an issue in your business – feel free to drop me a DM for more insights on how I can help turn this around!

Hope to speak soon

Pat

THE REAL COST OF EMPTY ROLES FOR YOUR TECH PROJECT

If you have one eye on your budget at all times, spending some of these valuable funds on the recruitment process can seem like a luxury that it's best to minimize if possible. After all, working with a recruitment consultancy is going to involve fees, and, of course, there's that other valuable resource to consider: your time, which is part of the hidden cost of recruitment. The prospect of making a new hire is definitely no small undertaking, yet, if you neglect to fill a key role for your tech project, you could, in fact, be exposing yourself to far greater costs in the long run.

?The Cost Of An Open Vacancy

?Having an unfilled vacancy can cost your company dearly - and not just in purely financial terms. With a gap in your project team, you could soon find that morale amongst the rest of your staff will start to dwindle as they are left working extra hard in order to pick up the slack. And the fiscal impact on the business itself cannot be overlooked: by leaving yourself a person short, your company's revenues will inevitably suffer.

?But what if problems with your recruitment process have left you unwilling to go through it all again? Rather than leave yourself with the cost of an open vacancy, it makes sense to look at the reasons why your organization might be having a hard time hiring the talent it needs.

?The Factors That Can Slow Your Time To Hire

?As a key metric, Time to Hire is commonly used to gauge the efficacy of a recruitment campaign. The shorter the time it takes, the better it is for your business. You save money and you have the right person in place sooner. However, the following issues can have a significant negative impact on getting a quick Time to Hire result.

?Poor Job Descriptions. If you aren't tailoring your job adverts to the right person for the role, then you are already wasting your time and missing out on finding the best candidates.

Poor Advertising. Are you putting your job adverts in places where the right people will see them? For specialist tech talent, it makes sense to use specialist tech advertising, too.

Poor Networking. Working on your network should be an ongoing investment in connecting you with the right talent, effectively giving you a “talent bench” to draw on when you need it.

Poor Company Reputation. Today, having a positive corporate culture is essential if you want to attract the finest quality candidates. Is there a reason why people may not choose to work at your company? Now is the time to address any issues.

Poor Recruitment Process. Is your application process too complicated, or too time-consuming, or are you forcing candidates through too many rounds of interviews? How clearly do you communicate with candidates? Refining your approach could yield better results.

?Partner With The Experts

?There's no question that recruitment for tech roles is particularly challenging, which is why it makes sense to optimize your resources by partnering with the experts. Here at Coltech, we can streamline your recruitment process, allowing you to target the top-tier talent you need and fill those key vacancies faster. Please get in touch today at www.coltech.io to find out more.

Austin Leaders Podcast

Have you seen our podcast? It's been running for some time now, and we have been fortunate to interview some fantastic leaders and inspirational tech industry influencers. Check it out here!

https://open.spotify.com/show/32ipUlb2l0VrNmVSMZiVTb

Check out our Blogs

We are big on sharing valued content – have you read any of our blogs? Check them out here!

https://www.coltech.io/blogs