Cost of a Vacancy

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.