PDaaS and Consultants as a Low-Cost Alternative to Hiring

Bayard Design logo: PDaaS and Consultants as a Low-Cost Alternative to Hiring

Bayard Design, a FORGE Iron partner, provides engineered solutions to its customers’ product design projects. Its team can help run product design projects from concept through to commercial scale. In this Tools of the Trade, Bayard Design describes how PDaaS or hiring a product development consultant can save startups precious funding.

Hiring Engineers is difficult and expensive. Using a consultant is the low cost and high speed alterative!

The average hiring process is 42 days long (source: SHRM.org). During that time action items are not being fulfilled and the team is burning hours interviewing candidates at an average of 9.6 hours per opening (source: Talroo.com). Once you have the candidate locked down the average salary is well into six figures with benefits adding another $23,857 (source: BLS.gov). Don’t forget headhunter or websites fees up to $38,009 (source: Indeed.com). All in this puts the year 1 cost well over $200,000 for only a single mid-career engineer!

What if you need a mechanical engineer, electrical engineer and firmware engineer? Or 2 mechanical engineers? Amortized, 4 engineers are now a $66,000+ monthly burn rate hit that ends only with painful layoffs.

Using consultants or Product Design as a Service (PDaaS) solves all of these issues. You’re only billed for the hours used. We can bring every discipline to the project without incurring painful burn rate hits. Burn rate can ramp up and down as required without any lose of institutional knowledge. Onboarding can be as quick as same week with minimum time commitment from the current team.

Want to talk about hitting your product development and engineering goals at minimal cost? Book a meeting with our team today!

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