from Fast Company
In some ways, growing businesses are akin to children: They will go through periods of rapid and transformative growth spurts. Short times of accelerated sales and growing customer bases are often accompanied by growing pains, during which the business must get accustomed to a new pace. While these periods are exciting, as they are typically a sign of success, it is also extremely challenging because that success will only last as long as you’re able to adequately support it.
During such periods of growth, an expanded team is a critical component to sustaining and supporting new demand. In a “chicken or the egg” scenario, it’s important to have a strong team to support the hiring, onboarding and training of new employees. In fact, some studies show that the cost to find, hire, and onboard a new employee can reach as high as $240,000. The cost of making the wrong hire is detrimental to your bottom line—and that doesn’t account for a loss in productivity.
With the onset of COVID-19, many businesses are forced to work remotely, adding an extra hurdle to this already challenging process. In our company’s case, we were looking to scale up our team as our business grew to meet the necessary demand of supporting access to medication across the country, no matter a patient’s pharmacy or location. To accomplish that, we needed extra support. Here’s how we tackled this problem at the onset of the pandemic, ultimately creating a more efficient and seamless process for our hiring initiatives.