Summary:
Welcome to the Startup Junkie’s Podcast!
This week we mixed it up a little. Jeff Amerine, Caleb Talley, and Davis McEntire are joined by guest co-host Tim McFarland and sit down with Tim Miller of Central Standard. Old friends, Tim and Jeff, catch up on his newest venture on the entrepreneurial journey. This episode discusses the flaws in talent recruiting agencies who pull from the international pools and what makes Central Standard different.
Thanks for joining us!
Shownotes:
(0:49) Introducing Tim Miller of Central Standard
(1:38) From Collegiate Track Athlete to Serial Entrepreneur
(11:01) Experience as an Early Stage Startup
(16:48) The War on Talent
(31:55) Why Mexico?
(35:50) Business Growth Outpacing Talent
(40:08) Culture’s Influence on Customer Loyalty
(45:22) Central Standard’s Business Model
(55:34) Wrap Up
Links:
Quotes:
“It’s a talent and recruiting agency, but I like to call a talent agency because first and foremost, I think what makes us different is we are trying to appeal to the talent down there, much like a CAA (creative artists agency.)” (20:46) Tim Miller
“I think our message resonates. They see that we care about their career. We wanna help them find an industry.” (25:37) – Tim Miller
“We want to help people identify opportunities.” (24:13) – Tim Miller
“What you are seeing is that the people with deep pockets, um, are, are able to attract talent and, and, and talent is moving at a frequency. It’s never moved before. Loyalty lasts only so long.” (35:05) – Tim Miller
Building Sustainable Talent with Tim Miller of Central Standard
“Our thing is, let’s go get and find the talent, develop relationships with them, irrespective of the job.” (21:04) – Tim Miller
This week we mixed it up a little. Jeff Amerine, Caleb Talley, and Davis McEntire are joined by guest co-host Tim McFarland and sit down with Time Miller of Central Standard Talent. Old friends, Tim and Jeff, catch up on his newest venture on the entrepreneurial journey. This episode discusses the flaws in talent recruiting agencies that pull from the international pools and what it looks like to build sustainable talent. This episode is not only timely but necessary for anyone wanting to start their business off on the right foot.
Central Standard is a professional employer organization. Typically a PEO functions by being the middleman in the relationship between an employer and employee. They managed the employee-related responsibilities and liabilities, specifically in Mexico for the time being. What makes Central Standard different is the care and vision they have for each employee they bring on. Their company’s structure allows them to take care of the employee in the present and help set a trajectory of growth for the employee’s future.
The War on Talent
“Keep the talent where the talent would really probably prefer to live. And they’re making a far above average wage to live where they want to live, you know, their per capita income.” (33:00) – Jeff Amerine
The world is moving in a direction that is looking for talent with qualifications to meet the growth of businesses. The pace is making it nearly impossible to hire from locations that have a high cost of living. That is why this model is being adopted even overseas in places in Western Europe. They are grabbing from highly educated workers living in an economy that is lower cost, which is proving, alongside Central Standard, that you do not need to be at the company location.
Some would say that the pandemic accelerated this model to a new normal, but arguably this is nothing new. For example, Belarus-India, is responsible for the U.S. having software when it did.
Culture’s Influence on Customer Loyalty
“The phenomenon is, that business growth is outpacing our ability to reach the talent. And if you don’t want the business growth to stall, you’ve got to find talent somewhere, and you’ve got to find it where there’s pockets of talent that’s got the qualifications you need.” (36:43) – Jeff Amerine
The advantages of working in Mexico are numerous. As mentioned above, the lower economic cost and plethora of qualified workers are the foundational reasons for the PEO choice, but there is more to the story. The culture of Mexico is one of the strong familial bonds. With that comes a loyalty that reaches beyond the paycheck. As the company treats and takes care of the employees, the employees create a relationship to the company defined by allegiance and fidelity.
“I think our message resonates. They see that we care about their career. We wanna help them find an industry.” (25:37) – Tim Miller
Central Standard Business Model
Steering clear of a lofty scale thresh, Central Standard has seen success with just two recruiters, one HR person, and then starting with 20 hires. This functional scaling business model gave room to be profitable while still having Tim and the team enjoy the workflow. Using a fundamental economic perspective allows Central Standard to keep from pouring millions of dollars to gain market share, all for the hope of profitability.
Overall, the Central Standard business model will keep at a scale to which their employees can know they are being given quality care, skills, and a voice. This then naturally produces a culture, loyalty, and product that will bring finances and steady growth.
“I’ve seen, I’ve seen senior people at companies stay just because they have a mentor relationship with someone that they, that it gets you through rough times. Sure. It bridges the gaps. It gets you from one project to the next.” (44:40) Tim Miller
Keep Up with Tim Miller & Central Standard!
This episode was not only timely but filled with great conversation! And we don’t just say that… we promise! If you want to keep up with Central Standard and Timothy Miller, head over to his profile or Central Standard’s today! It may be a new idea, a new product, or innovating a traditional service, but whatever it is, we love to hear it! Do you have some Startup Junkie in your blood? You probably will after listening to this!
Stay tuned each week for yet another story of those breaking the norms and soaring to new heights. Want to learn more about our services?
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