In industries such as iGaming, where everything can go so fast, hiring is sometimes a matter of life and death for the company. Not only because it’s supposed to deliver more, but also because recruiting has multiple costs, representing then, a new kind of risks for businesses.
The risk of loosing the best candidates
Best candidates are the ones that require going through processes faster; because they’re facing high demand for their skills. Being to slow, would mean letting your competitors or other opportunities signing them.
On top of that, long processes are demotivating. Having 7 rounds of interviews, with business cases, cultural and logic tests… That’s not relevant anymore. It may shows some of the following :
- The company isn’t really confident on its ability to hire the best profiles since it multiplies the steps.
- The company doesn’t really value the candidate.
The risks of missing opportunities
The missions not fulfilled are not delivered. Even asking other employees doing it during the recruitment period, will only add extra work to people already tasked. Meaning a decline in quality on all tasks, often.
And not doing the job at all, will result in postponing the outcomes expected, and reducing its compound effects.
The time tasks are not delivered are making the projects costing twice as anticipated, even though those are not direct costs:
- Cost of delay: postponing the outcome and the increment of turn over for instance. It’s composed by the recruitment time and the time for the new hire to actually arrive.
- Time of doing it, but later : the actual time spent on the projects later, results in man/days, that would in all cases been spent. But here it’s compounded with the costs of delay.
The risk of hiring the wrong ones
Hiring slow doesn’t guarantee hiring the best candidate. That would only guarantee fulfilling the position too late. Some people are very good at job interviews but very less at doing the actual work. Taking more time to do hire them, doesn’t always reduce the risks.
That risk implies some costs :
- Cost of delay – that we discussed earlier
- Costs of recruitment:
- from your HR team, to your managers, spending time with interviews and case reviews.
- Recruitment firms fees – if relevant
- New recruitment campaigns : the wrong candidate can not stay in place, and then re-recruiting someone is restarting the full process.
The importance of being helped by consultancy firms
Consulting firms, either in iGaming or other industries are well equiped to support you during your scaling phases; by being available in no time and having great profiles « ready-to-use ». Consultants have seen multiple industries and issues, allowing them to develop a strong ability to adapt to new contexts and quickly deliver results.
Of course, consultant represent a cost; but that’s a ratio to evaluate between:
- Adding more work to existing employees and risking a burn-out
- Cost of delay
- Cost of failure
In few occasions, it might be relevant waiting having the good profile, but most of the time it’s worth investing.
At TGC, we have a tailored approach in iGaming consulting services, bringing to table more than answering the initial brief.
Let’s be in touch if you’re facing a lack of workforce to deliver more.
Pierric Blanchet
Founder @ TGC
FAQ
We do understand that taking time is making HR more confident in recruiting the best candidates, but that doesn’t mean it’s true. Seeing more people results on a higher cost of recruiting without ensuring the perfect fit; because there are no guarantee on fits.
If you have an urgent need in terms of HR, reaching a consulting firm or freelancers can be very helpful to deliver your project without waiting for a new hire to come in.
The Gambling Cockpit only provides recruitment services for Chief of Staff roles, since that’s the role we specialized in. There are multiple recruitment firms on the market that can cover your tech needs for instance, but TGC is more involved in Strategy, M&A and Chief of Staff interim management.