How much revenue are you missing out on by having a position unfilled for an extended period of time? To calculate lost revenue, simply take the amount of revenue your company generates per year and divide it by the number of employees you have. This figure gives you a rough estimate of the amount of revenue generated per employee, per year. Take this amount and divide it by 365 days to determine how much daily revenue each employee generates.
Example: A Manufacturing company with $100,000,000 in yearly revenue and 400 employees.
$100,000,000 ÷ 400 EE’s = $250,000 in yearly revenue per employee
$250,000 ÷ 365 days = $684.93 in daily revenue per employee.
In this scenario, every day a position is left unfilled, the manufacturing company is potentially missing out on $684.93 in revenue.
Weekly cost of unfilled position:
1 Week- $3,424.65
2 Weeks- $6,849.30
3 Weeks- $10,270.95
1 Month- $13,695.60
Are you losing out on revenue by having positions left unfilled? IMPACT Management Services specializes in decreasing the time it takes to hire. We do this by finding the best available talent in the market and selling them on why your position is the best fit for them. Our proven recruiting process will have the right person interviewing for you within a week, if not sooner. The less time it takes to fill an open position, the quicker you can start generating revenue from the candidate!
My job as a recruiter is to decrease the time it takes to hire a qualified candidate. Partnering with a Recruiting firm like IMPACT, can have a direct effect on your bottom line.