There is no question about it; Saving money is extremely important for any business but this is especially the case for startups. Costs need to be kept low in order to maximize profits. The problem arises, however, when the topic of compromising on quality comes up and it does come up when companies, start-ups, for example, face issues with funding. When people hear the term “low quality”, what comes to mind is usually a short product lifespan, a lower price, and generally just a negative image as a whole. Often times, products are cheaper and made of poorer quality when you as a consumer are paying less for them. This can even be considered as while hiring new employees for your company. The importance of hiring the right person can never be underestimated!
This is an acceptable option when you are just purchasing raw materials of outsourcing. In this specific case – quality can be sacrificed for the “greater good”.There is a restraint on every early-stage start-up going through the hiring process in terms of funding and as a result, many start-ups face the common dilemma of whether or not to hire all of the best talents that they need while compromising on quality. The answer is a simple no.
It really seems like an easy and convenient option – sacrifice on quality just a “little” and hire more cream of the crop candidates to balance things out. Unfortunately, it doesn’t work that way. The minute that quality is compromised is the minute that a start-up begins its descent. Now you have more great employees but the quality of your product has just degraded until the startup can afford to raise the level of quality again and there is no certainty of that. Compromising on the cost of hiring the right people just to save money is the most foolish thing a start-up can ever do! It’s not the customers but the employees who keep the company running. To reach the pinnacle of success, it is very important to have the right people with the right mindset! The importance of hiring the right person is very crucial.
The moment you decide to cut down hiring costs is the moment you go one step farther from achieving your goal. Having said that, we do realize that startups need to run on a budget and it is not advisable to pour out all the money you have on hiring. Make use of online tools and get in touch with your contacts. Make smart hiring decisions that save money as well as give you the right candidates for the job.
It is much more beneficial in the long run for recruiters to manage their time in meticulously hiring a great team that can work together and handle the workload in front of them with a good attitude. This doesn’t mean that a trade-off has to happen ie. quality of the hire vs. the quality of the product. Importance has to be given to both factors. Ultimately, recruiters must put more time and effort into hiring top-quality people that can also handle the workload offered. In this instance, the attitude must be considered over aptitude and recruiters must look for top talent who are also motivators. Working in a start-up culture requires strong dedication and motivation. People who are not ready to handle the pressure and work beyond the normal are never a good fit and no matter how much money you spend on hiring them, it’s ultimately a huge loss.
Additionally, if your startup is under major budgetary constraints, a great solution would be to hire freshers or interns to avoid compromising on product quality and maintaining the level of work required.
So there you have it. Finding the right balance between price and quality does involve compromise. Be that as it may, you don’t have to compromise to an extent that your start-up ends up with poor quality products and services.
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