What is an established relationship with an executive search & staffing agency such as THE CLARKS GROUP worth? The following equation shows how much money your company saves when you eradicate an unfilled position.
The relationship with a search firm has immense value because it greatly reduces the time to fill open positions and it reduces the cost of lost revenue from not having that position occupied. An unoccupied position can cost your company thousands of dollars across all open and unfilled positions. Use the following equation to determine how much and unfilled position can cost.
Annual revenue generated by company = Revenue per employee per year
Number of revenue generating employees
Revenue per employee per year = Daily revenue per employee
365 Days (not adjusted for vacation and holidays)
Daily revenue per employee X Days position unfilled = Revenue lost per day per unfilled job
Revenue lost per day X Number of open jobs = Total revenue lost per day for all open jobs per unfilled jobs.
Using this simplified equation can easily calculate thousands of dollars lost in total revenue per day if your company has multiple open positions.
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