Is it a ridiculous waste of a senior leader's time for them to spend a month recruiting open positions?

I am certain that this time and opportunity cost is not converted into the money an organisation has wasted in the same way as recruitment is still considered as a cost and not an investment.

It is amazing how companies are happy to waste money on ludicrous non-value adding activities or "things" and yet the suggestion that they divert these funds to an agile but robust recruitment process that allows an HR Director to focus fully on activties that will impact positively on their business is viewed badly!!