Will Costolnick, Hire Dynamics CFO, was named a 2021 40 Under 40 honoree by Staffing Industry Analysts (SIA). This list recognizes the staffing industry’s trailblazing, next generation of leaders who are contributing to progress with inspiring new ideas and ushering in the future.
As CFO, Costolnick drives success in three key areas for Hire Dynamics: technology innovation, growth strategy and culture.
Billy Milam, Hire Dynamics CEO, notes that Costolnick is highly attuned to challenges of field leaders. Because he is approachable and accessible, they readily share their concerns and needs with him, which enable him to develop forward-thinking solutions and day-to-day efficiencies on their behalf.
Because his role requires forecasting abilities, he applies them not just to the financial realm, but also to technology, team needs and our evolving work culture. Embracing change with confidence, he vets potential impacts and keeps our leadership focused on ways Hire Dynamics can dynamically surpass expectations within the industry, both for clients and talent.
Beyond helping us weather this past year, Costolnick’s data-driven insight and investment in technology positions us to stay ahead of the solutions the staffing industry will be tasked to solve next.
Innovative Technology Solutions
Costolnick steered Hire Dynamics toward the implementation of technology that would prove key to the company’s ability to not only weather the pandemic but thrive in 2020.
His implementation of predictive analytics allowed the Hire Dynamics team to process collections more efficiently and reduced day sales outstanding by 15%. Predictive analytics helped support 100% of accounts, setting priorities for the team and allowing them to focus on the key areas of business.
Under his leadership, the company’s client accounts remained current at 100%, with zero write-offs in 2020. These effective measures ensured Hire Dynamics emerged from 2020 with a strong growth trajectory, realizing a 25% improvement in gross profit per employee year over year.
Comprehensive Growth Strategy
Over the last three years, Hire Dynamics made four major acquisitions, increasing revenue by 200% from $100 million to $300 million. Costolnick dramatically enhanced performance across the company by eliminating redundant processes, restructuring teams and implementing new accounting processes, systems and technologies companywide. These efforts saved Hire Dynamics millions of dollars and throughout it all, he prioritized clear, personal communication to uphold Hire Dynamics’ cultural commitment to being “the staffing company you’d recommend to a friend.” These include:
- Centralizing payroll (removing that task from more than 50 branches across a half dozen states and launching a unified approach)
- Creating four “core value centers” specializing in financial planning and analysis, accounting, collections and decision support
- Rolling out finance business partners to bolster support of regional management
Driving Culture Around People
A true culture driver, Costolnick actively supports the company’s goal to be “the staffing agency you’d recommend to a friend” and emphasizes management that is affiliative, with a strong focus on trusting and empowering employees at all levels.
His goal is to find a balance that protects Hire Dynamics’ culture through any change or challenge, whether it be rapid growth or pivoting to survive (and thrive) in a pandemic. For employees, he clarifies the value proposition behind each initiative, so they understand its impact on them and the organization.
In developing the response to COVID-19 conditions, Costolnick advocated for swift and decisive action, communicating furlough and pay freezes rapidly. Transparency in plans enabled employees to become part of the solution and focus on the business of the moment, rather than waiting and worrying about what might come.
Costolnick’s efforts have helped sustain the company’s rank among the top 1% of more than 22,000 staffing companies as winner of ClearlyRated’s “Best of Staffing for Client & Talent Satisfaction” for 11 consecutive years.
His approach to his role, balancing quality performance and efficiency, preparing for what’s next before it arrives, and creating a collaborative, responsive workplace position him uniquely to transform both Hire Dynamics and the staffing industry at large.