As a business owner, I’ve learned that finding the right person to join your team is one of the most critical—and challenging—tasks you’ll face. While we’ve been incredibly fortunate to attract and be referred to amazing advisors and operations specialists over the years, the process of hiring is rarely simple. It’s a journey filled with hidden costs, relentless time demands, and plenty of lessons along the way.
Let’s start with the financial aspect. The cost of hiring is often much higher than you’d think. Traditional recruiters can charge fees ranging from 15% to 30% of the new hire’s salary. For a business, especially one that’s small or mid-sized, those numbers add up quickly. Digital platforms, while seemingly more affordable, aren’t always the answer. Sure, they allow you to reach a large audience, but that comes with its own price—your time. The flood of applications often includes countless unqualified candidates, leaving you to sift through resumes, many of which don’t align with what you’re looking for.
And then there’s the real kicker: time. Hiring is one of the most time-intensive tasks a business owner can undertake. Writing a compelling job description, posting it on the right platforms, and managing incoming applications can take days. From there, the work multiplies—screening candidates, scheduling interviews, conducting those interviews, and then deliberating over the final decision. Each step requires careful consideration, and each hour spent on hiring is an hour pulled away from running your business, supporting your team, and driving growth.
To put it into perspective, hiring one new team member can easily consume dozens of hours. For a business owner, this is time that could otherwise be spent strategizing, innovating, or focusing on clients. And the challenge doesn’t end there—once you’ve made the hire, onboarding and training require even more time and resources.
Yet, despite the challenges, the rewards of finding the right person can’t be overstated. A great hire isn’t just someone who fills a role—they’re someone who elevates your team, strengthens your culture, and brings fresh energy to the table. Over the years, we’ve been blessed to find individuals who embody those qualities. Many have come to us through referrals, a testament to the trust and reputation we’ve built.
Still, every time I dive into the hiring process, I’m reminded of just how demanding it is. And it’s not just the tangible costs; it’s the mental and emotional weight of wanting to make the perfect choice. After all, hiring isn’t about filling a seat—it’s about inviting someone to become part of your vision, your mission, and your team’s future.
For business owners navigating this journey, the advice I’d offer is to recognize and prepare for the investment hiring requires. Understand that the right hire will cost you—both in time and money—but will also pay dividends when you find the right fit. Lean on your network for referrals, seek tools that streamline the process, and remember that patience is key.
To our advisors, specialists, and everyone who has been part of this journey with us, thank you. You’ve reminded me that the effort and costs, while significant, are always worth it when the result is a team that makes everything we do possible.
Because at the end of the day, the time and money spent on hiring are investments in your most valuable asset: your people.
Evan R. Guido is the Founder of Aksala Wealth Advisors LLC, a 2018 Forbes Next-Gen Advisors List Member, and Financial Professional at Avantax Investment ServicesSM. Evan heads a team of retirement transition strategists for clients who consider themselves the “Millionaire Next Door.” He can be reached at 941-500-5122 or eguido@aksalawealth.com. Read more of his insights at https://finance.heraldtribune.com/category/ask-guido/. Securities offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Investment advisory services offered through Avantax Advisory ServicesSM, Insurance services offered through an Avantax affiliated insurance agency. 6260 Lake Osprey Dr. Lakewood Ranch, FL 34240. The views and opinions presented in this article are those of Evan R. Guido and not of Avantax Wealth Management® or its subsidiaries. These opinions are based on Evan R. Guido observations and research and are not intended to predict or depict performance of any investment. These views are as of the close of business on 3/13/2025 and are subject to change based on subsequent developments. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. These views should not be construed as a recommendation to buy or sell any securities. Past performance does not guarantee future results. The S&P 500 is an index of 500 major, large-cap U.S. corporations. Standard & Poor's is a corporation that rates stocks and corporate and municipal bonds according to risk profiles. You cannot invest directly in an index. An investment in a money market fund is not insured or guaranteed by the FDIC or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. CDs are FDIC insured and offer a fixed rate of return. They do not necessarily protect against a rising cost of living. The FDIC insurance on CDs applies in case of insolvency of the bank, but does not protect market value. Other investments are not insured, and their principal and yield may fluctuate with market conditions. Investments are subject to market risks including the potential loss of principal invested. Neither diversification nor asset allocation assure or guarantee better performance and cannot eliminate the risk of investment losses. This information is intended to be educational and does not reflect any particular investment or investment needs of any specific investor.