| What is the value of an established relationship with an executive search firm such as e-Staffing for current and future hiring needs? Continue on and view the equation below to determine how much money your organization saves by eliminating the unfilled position. A vacant position can cost your company or firm hundreds of millions of dollars across all open and unfilled hiring needs. To calculate how much an unfilled job costs you, use the following equation (this equation has been extremely simplified for illustration purposes): When you establish a long term relationship with e-Staffing, our value to you increase. By minimizing the time to fill open positions, you will have true and accountable reductions in the cost of lost revenue from not having that position filled. |
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| Step 1 | ||
| Annual revenue generated by company
Number of revenue generating employees |
Rev per employee per year | |
| Step 2 | ||
| Revenue per employee per year
365 Days (not adjusted for vacation and holidays) |
Daily revenue per employee | |
| Step 3 | ||
| Daily revenue per employee X Days position unfilled = Revenue lost per day per unfilled job | ||
| Step 4 | ||
| Revenue lost per day X Number of open jobs = Total revenue lost per day for all open jobs per unfilled job | ||
| Total revenue lost per day for all open jobs can easily approach millions of dollars for an organization when using this simplified formula.
Courtesy of The Talent Officer | ||
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