How to Maximize your Hiring Dollar

For any company, and especially startups, spending has to be done wisely. All budgets are important, but your hiring dollar might be the most important. A new hire has the potential to add more value to your company than any other expenditure. On the same coin, you are taking a risk when you invest a tremendous amount of money, time, and resources on an individual who may or may not live up to your expectations. At Ryvit, we are part of a 2-time 5000 fastest growing company and want to share some of our key HR wisdom with you. Start with tangible goals and visible values. Aligning your values, culture, and performance should be the focus when hiring for any position.

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Any new employee you add will impact all three of these areas in either a negative or a positive way. For this reason, Ryvit integrates personality profiling into the hiring process. With the use of personality testing, you will have the ability to hire an employee who will add value to your company immediately and fit into your culture. The tried and true method of hiring minimizes turnover rates and saves money in the long run. Building a scalable team means hiring the best people your money can buy. You have to know what it takes to attract the brightest talent. More than just salary expectation, make sure your company can offer benefits, perks, and a culture that set you apart from other employers. These aspects of your company are now more important than they have ever been to prospective employees. When considering leadership roles, look for the ability to make decisions independently without C-Level involvement on every project they work on. There are intangible qualities it is important to weave in that create and support a positive culture such as resourcefulness, tenacity, passion and fortitude. Building in these employees will give your company an edge above your competition. You will have the ability to grow and thrive with far less effort when you have a desirable culture and capable leaders. Once you have built your dream team of employees, listen to them just as much as you listen to clients. They work with your solution and process every day. If you have hired the best your money can buy, these individuals will be able to suggest improvements for ease and efficiency that you may have never thought of. Take advantage of their perspective and listed to their insights. These simple HR tools will bring incredible value to your company. Keeping culture a main focus will give your company the ability to attract the best and brightest. Finding talented employees who fit into this culture can take patience at times, but will pay off in the long run. [button size='' style='' text='Link to Full eBook' icon='' icon_color='' link='https://ryvit.com/wp-content/uploads/Fundamental-Elements-of-a-Successful-Software-Company.pdf' target='_self' color='' hover_color='' border_color='' hover_border_color='' background_color='' hover_background_color='' font_style='' font_weight='' text_align='' margin='']

In-House Development: Is it Worth the Cost?

When you look into building integrations, there is much to consider. One of the first decisions a company needs to make, once they have a picture of what the integration will be capable of, is to develop in-house or not to take the project outside of the company. The next order of business: the cost. Your first instinct might be that developing in-house will be the most cost effective way to go about it. Taking a holistic look at what an in-house integration will take, could change your mind. Let’s look in a little more detail at what it will take. When looking strictly at the integration there are a few things to consider: the integration’s deadline, the number of integrations and their complexity, updates and new releases the integrations will need.

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Missing an integration’s deadline can cost your company time, money, and reputation. If the integration is very complex, this could be easy to do. There is also a lot of upkeep for integrations once they are out the door. This can be a lot of added stress on your team and building integrations is impossible without the right team. Now, to consider your team. Do you have the developers in place? What is their current workload? With a seasoned team of developers, you will avoid recruiting, hiring, and training costs for starters. Let’s say you have the team, the hardware and software they need and your team has the time to create your integrations, you are off to a great start. Ryvit estimates it costs $50/hour for in-house developers. With a team of three to create 10 integrations it will cost you $1200/day. Over the course of a year that is $288,000 for the developers alone. If it is their first time, however, it will take them an estimated 4 times longer than an established team to create the integration, and as they say, “time is money.” Ryvit’s team of experienced developers will be able to create quality integrations in a timely manner for your company at a fraction of what it will cost you to develop in house. Our estimated cost of the same 10 integrations is $150,000, less than the cost of the three in-hose developers for one year. We have the capacity, hardware, and software to keep your integrations updated and running smoothly. We make quality integrations worth the cost with less stress on your team. Want to run your own numbers? Use our calculator to see the estimated return on investment for your company. [button size='' style='' text='Calculate Here' icon='' icon_color='' link='https://ryvit.com/roi' target='_self' color='' hover_color='' border_color='' hover_border_color='' background_color='' hover_background_color='' font_style='' font_weight='' text_align='' margin='']

The Tech Review all CEOs should do

Whether you are the vision creator of a startup or leading the charge of an established corporation, technology is changing and with that, your business practices around technology might need a refresh. Leaving all of your company’s tech-related decisions up to the CIO or CTO isn’t enough anymore. Creating a strategy around technology is essential to define your company’s path forward so as the CEO, get involved. To make sure you are starting in the right place and heading in the right directions, take a look at these 5 areas of your technology.

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  1. Your current strategy

That is the place to start. If you don’t have an expressed strategy yet, take a general survey of what tech updates have been made recently and the impression of where your company was headed with technology. If you do have a strategy currently, gain an understanding of what department heads and employees need from their technology and where the current strategy is falling short. Making sure your strategy is well-defined will create fewer technology distractions as you move forward.

  1. New Projects

As a CEO, how do you want to approach new technology projects in the coming years? Different tech issues can be solved by a number of existing solutions or by custom-coded solutions. Each has their benefits and drawbacks, but as the CEO it is up to you to decide which way your company will head. Make a decision and be consistent. Take into account the opinions of subject matter experts at your disposal. Many projects in the coming years will be shaped by this decision.

  1. Efficiency

Isn’t efficiency why we invest in technology? Your technology should be helping your employees make the most of their time each day. Take a look at efficiency in your data centers, support centers, and IT systems. You want all of these systems to be as efficient as possible to increase profitability. If your employees are not selling and working in the most efficient way, your tech strategy needs to encompass changes that will help them do so.

  1. Consider your customers

If your customers don’t have the tools they need, work this into your technology strategy to stay competitive. Create a survey and listen to your customers’ feedback about your technology. What preferences do they have in communications they receive from your company? Is your website meeting their needs? What’s not easily accessible? They drive your business so they should be considered in key technology decisions. Building a great customer experience is worth the investment.

  1. The right team

During this process, you will need to have the right team in place to help you understand your current state and what changes are needed. Make sure this goes beyond senior management. When you have this team, set parameters to communicate what can and what cannot be done when it comes to your technology assets. Communicate your company’s risk profile to these individuals. This will allow your team to make the right decisions for your organization.