Cost of a Vacancy

Only 23% of Senior Executives believe their current talent acquisition & retention strategies work.

Common ways a vacancy can hurt your company:

Team Impact   

  • Lost experience, leadership, or skills of the individual who once filled the role.
  • Being understaffed: deadlines being delayed due to work overload.

Individual Employee Impact   

  • Employee burnout because they're taking on additional duties that were filled by the employee who left.
  • Higher sick, late, absent, and even higher quitting rates due to stress or frustration

Lost revenue   

  • Lack of monthly revenue (IE sales role) translates to a quantifiable monthly decrease in profits.
  • Weakening your foothold allows you competitors to gain market share.
  • Decrease in revenue from lost customers from lack of client services & market share.

Culture and Market Value  

  • Impact on time to market / delivery / quality of service
  • Loss of competitive advantage, market share, and growth rate

Other potential costs  

  • The "vacated" employee brings others with them to a competitor.
  • A vacancy could also cause companies to hire in a hurry, which could result in a mis-hire.

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