How a CFO Advisory Firm Reduced Hiring Time by 73% And Saved $161k Annually Hiring With Near

Founded in 2015, Vanreusel Ventures specializes in providing corporate finance and CFO advisory services. They assist organizations in building robust financial foundations, offering services such as M&A, FP&A, fundraising, and strategic advisory support.

As the company continued to expand their portfolio, they faced a pressing need for growth. To accommodate expansion and ensure operational efficiency, Vanreusel recognized the importance of bringing in new team members who would alleviate the executive workload in a cost-effective manner.

Summary

• Problem:  Vanreusel Ventures is a corporate finance and CFO advisory firm. They needed to expand their team to support their growing portfolio of clients while working within budget constraints.
• Challenge: Vanreusel had a few challenges: a time-consuming recruiting process, budget limitations that made hiring top-tier talent in the US difficult, and an unsustainable dependency on the CEO for managing all clients.
• Roles Hired: Finance Manager and Marketing Manager.
• Why Vanreusel Chose Near: Vanreusel turned to Near because of our capability to handle the hiring process end-to-end. They felt confident in Near’s ability to deliver highly skilled talent as they had already seen some sample profiles. They also appreciated that Near provided the risk-free opportunity to explore working with Latin American professionals.
• Solution: Near streamlined the hiring process, incorporating essential assessments, and delivered top-quality candidates within a week. Adding a highly experienced Finance Manager and a proficient Marketing Manager brought much-needed expertise to the team quickly.
• Results: 
  • ‍Vanreusel reduced their hiring time by 73%, filling positions that had been open for more than a year in just over a month since they kicked off their search with Near.‍
  • They are making an annual cost savings of $161k (or about 64%) compared to hiring US talent.‍
  • Vanreusel’s CEO’s and Operations Manager’s bandwidth has been freed up to focus on strategic priorities, driving growth.‍
  • Due to Near’s emphasis on finding talent that aligns with the customer’s culture, Vanreusel experienced enhanced cultural alignment and team cohesion despite physical distance.

Challenges

Vanreusel Ventures encountered several pressing challenges in their pursuit of hiring the right talent for their managerial needs. Kimberly Gonzalez, the Operations Manager, shared that the recruitment process itself proved to be a significant drain on their resources, consuming valuable time and effort. Their journey to find a qualified Finance Manager spanned an exhaustive year, during which they dealt with the frustration of not finding suitable candidates.

Another critical challenge stemmed from the heavy reliance on their CEO, who was deeply involved in managing all clients. This dependency on one individual was not sustainable, and they urgently needed a solution that would enable them to distribute workloads and responsibilities effectively.

On top of that, Vanreusel Ventures faced budgetary constraints. Being a small business, they found themselves unable to afford the caliber of talent they sought in the US. The financial limitations were a substantial barrier to growth, necessitating a cost-effective hiring strategy to move forward.

The Problem (Previous Unsuccessful Hiring Efforts in the US)

Vanreusel Ventures had previously grappled with various issues in their hiring endeavors. They had traditionally relied on conventional recruitment methods, primarily targeting candidates based in the US. 

These methods included cold outreach, LinkedIn advertisements, and sifting through countless resumes. However, despite their diligent efforts, they consistently encountered difficulties finding the right talent while adhering to stringent budget constraints.

The primary objectives of their initial hiring project were threefold:

• Identify and onboard a Finance Manager who could effectively alleviate the CEO's workload, thus ensuring a more balanced distribution of responsibilities within the organization. 
• Explore the potential of international hiring as a cost-effective talent acquisition strategy without lowering the bar for skills or experience.
• Streamline their hiring process, freeing up the Ops Manager’s time and significantly reducing the time and effort it took to bring skilled talent on board.

Why Vanreusel Ventures Chose Near

Vanreusel Ventures made a strategic decision to partner with Near, driven by several key factors that aligned with their unique needs and objectives:

• One of the pivotal considerations in selecting Near was its capability to oversee the complete hiring process. Vanreusel Ventures recognized the value in entrusting Near with the entire talent acquisition journey, from candidate sourcing to onboarding.

Near takes care of the entire hiring process for us. All we have to do is interview the best 3 candidates and decide.

Kimberly Gonzalez

Operations Manager at Vanreusel Ventures

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• Vanreusel Ventures was seeking a source of skilled professionals beyond US borders, and Near provided a gateway to a diverse and capable talent pool in Latin America. They were impressed by the sample profiles they saw and the possibilities for securing top-tier talent while optimizing costs.
• They appreciated the opportunity to explore Near's services without incurring any upfront expenses. This risk-free approach allowed them to evaluate the benefits before making a long-term commitment, aligning perfectly with their resource-optimization approach.

Solution

Vanreusel Ventures appreciated Near's capacity to meet their specific hiring demands efficiently. Concerns regarding language proficiency were allayed by Near's integration of an initial introduction video into the recruitment process. This step ensured not only technical skills but also strong English proficiency, vital for client-facing roles.

Vanreusel Ventures stressed the importance of a highly organized and efficient hiring process. Near not only incorporated all of their required assessments, including video interviews and cultural evaluations, but also delivered a batch of top-quality candidates within a week of starting the sourcing process, which was much faster than their previous hiring efforts. After receiving feedback from Vanreusel, the recruitment team diligently refined the search until the company hired the ideal candidate for each respective position. This expedited yet thorough process allowed Vanreusel Ventures to fill their positions in record time.

Vanreusel’s original goal with Near was to fill the Finance Manager position, which had been open for over a year. Through Near, Vanreusel was able to place a new Finance Manager that:

• Is a Certified Public Accountant and holds an MBA from a reputable Argentine institution.
• Has specialized in strategic planning of financial resources.
• Has 10+ years of experience working for multinational companies in directorial and executive positions.

Furthermore, in response to their need for increased business opportunities and their impressive experience with their previous Near hire, they also brought on board a Marketing Manager that:

• Holds an MBA in Marketing, Branding, and Growth and has specialized in SEO, content marketing, media planning, and lead generation.
• Has 8+ years of experience effectively managing marketing and communication projects from conception to completion.
  
  

A close contact was genuinely impressed upon meeting our new hires and asked how we found such talented individuals. Naturally, I pointed them to Near.

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Results

The Finance Manager quickly adapted to the role, taking on clients within a short timeframe. As a result, the CEO regained the bandwidth to concentrate on broader strategic priorities and focus on the bigger picture to steer the company toward its growth objectives.

Furthermore, the introduction of a proficient Marketing Manager as a result of Near's services has been a catalyst for the company’s expansion. Their extensive knowledge and strategic acumen have not only propelled the brand's visibility but also led to the development and implementation of previously absent sales systems. Consequently, the company's market presence has grown significantly, enabling Vanreusel Ventures to capture new opportunities and strengthen their position in the industry.

Cultural alignment and team cohesion have also been outstanding outcomes of this partnership. Despite the physical distance between team members, Vanreusel Ventures now boasts a close-knit and engaged team, fostering a collaborative and productive work environment.

ROI

Vanreusel Ventures has achieved substantial time and cost savings since partnering with Near:

• Vanreusel Ventures has successfully reduced their hiring time by 73%. They were also able to quickly fill positions that had been open for over a year before partnering with Near.
• The company saves $161k annually compared to hiring equivalent professionals based local to their main office in San Francisco. This represents a substantial 64% reduction in overhead costs.
• The time Kimberly spends on recruiting went from 40 hours to a mere 3 hours per role.

Takeaways

The collaboration between Vanreusel Ventures and Near underscores the key benefits of hiring from LatAm for budget-constrained businesses seeking to expand:

• Access to Highly Skilled Talent: Near's extensive network granted Vanreusel Ventures access to a diverse pool of top-tier pre-vetted candidates with the specialized expertise required to excel in their roles.

• Cost-Effective Hiring Solutions: By exploring international hiring options, Vanreusel Ventures achieved substantial cost savings compared to hiring US-based talent. Near's services proved to be a cost-effective solution that didn't compromise on quality.

• Reduced Time and Effort Spent on Hiring: Near's streamlined hiring process significantly reduced the time and effort traditionally associated with talent acquisition. This efficiency allowed Vanreusel Ventures to swiftly onboard the right candidates, allowing them to address critical staffing needs promptly and maintain a competitive edge in their industry.

I recommend Near to colleagues all the time. I just say: ‘Oh, you're struggling with hiring? You should reach out to Near. They will do it for you and find you really great talent that fits your budget.'

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Is your organization embracing remote work and aiming for efficient growth? If you’re interested in discovering how to incorporate top talent while making substantial cost savings annually, book a complimentary consultation.

To learn more about Vanreusel Ventures, visit Vanreusel's website.