According to Hyperion Executive Search, a global talent acquisition company that works exclusively with clean energy and e-mobility companies, the wrong executive-level hire can cost cleantech companies approximately $1.5 million.
“It’s strategically important for cleantech start-ups to quickly find the right candidate so that they have the agility to respond to today’s rapidly changing business landscape when every dollar counts,” said David Hunt, CEO of Hyperion. “By investing in the hiring process from the job description to the job offer, cleantech companies actually save money in the long run.”
According to the book “Who,” the average hiring mistake costs 15 times an employee’s base salary in hard costs, replacement fees and productivity loss. A single bad hire of a $100,000 employee can cost a company $1.5 million or more. Executive-level positions in the cleantech industry can range from $100,000 to $300,000 per year and that does not include equity and bonuses.
“In the cleantech sector, where the experienced talent pool is very small, such mistakes and costs are compounded,” said Hunt. “What’s more, for a cleantech start-up, a bad hire can completely derail your progress, costing time and money you can’t afford, and worst case, taking you under.”
Founded by a cleantech executive who knows the industry and the technology needs of specialized, early-stage cleantech companies, Hyperion has a constant pulse on the sector and visibility into cleantech hiring needs, often identifying critical positions before a company knows the position is needed.
“Despite the current economic conditions due to COVID-19, 61% of the cleantech firms we recently surveyed report that revenues will still be as expected or better and 75% still expect to see growth this year,” said Hunt. “To continue that growth, it is more critical than ever before for cleantech companies to use a thorough and refined process to identify and recruit ideal candidates.”
Hyperion has developed a 28-stage vetting process that is utilized to screen applicants for cleantech jobs. The detailed process is geared to gaining a deep understanding of the roles and company culture, mapping multiple markets extensively, approaching the best candidates with a compelling story and managing the process efficiently until successfully completing the assignments. Hyperion works with cleantech companies from the start to develop the job description and to take the time to really understand the company culture, values and foundational goals.
“Putting the right people in the right position helps accelerate growth,” said Hunt. “Many of the cleantech companies we work with are scaling up fast and entering new markets and territories, with ambitious targets to take their businesses to the next stage of growth. We help these companies to achieve their commercial goals by attracting the right talent at the middle and upper management levels.”
Hyperion Executive Search | http://www.hyperionsearch.com