In the inaugural episode of the Winning in Professional Services podcast, Matteo Trovato and Scott Pressimone discuss the often-overlooked dangers of hiring employees at below-market rates. They cover three primary pitfalls: not hiring soon enough, compensating below market rate, and creating hybrid roles. Sharing their own experiences and observations, they provide practical advice on setting a realistic budget, prioritizing hires, and avoiding common hiring mistakes. They also touch upon the importance of transparent job descriptions and considering performance-based compensation structures to attract top talent. Connect with Scott and Matteo on LinkedIn: Scott Pressimone: https://www.linkedin.com/in/scottalanpress/ Matteo Trovato: https://www.linkedin.com/in/matteotrovato/ Winning In Professional Services: https://wipspod.com/ Growth Connect: https://growthconnect.io/ RevPath: https://www.revpathplus.com/ ⏱️ Timestamps: 0:00 - Introduction 1:00 - Different ways of "hiring cheap" 5:54 - Pitfalls of creating hybrid roles to save costs 10:50 - Setting realistic budgets 13:59 - Identifying the exact problem to be solved when hiring 24:29 - Consider hiring a leader first who can build a team 30:35 - Setting realistic expectations for new hires 39:23 - Hire slowly, fire quickly 42:51 - Tips for optimizing job descriptions to attract the right candidates 51:50 - Adapting compensation plans to attract high-talent individuals