Time spent on interviews is time invested.
Now, it is up to you to ensure that you give an accurate filter to HR, so you can do focused investments.
And interviews investment is like financial ones. You invest in multiple promising parties and expect one to outperform the others enough to make a great overall return.
Long story short, hiring is your most important activity. As if you don't hire, or worse, hire badly, you won't have the firepower when you'll need it.
And if you won't need the firepower, why are you interviewing candidates?