Cost of Not Hiring
Using a pre-established relationship with an Employee Selection firm has value because it greatly decreases the time to fill open positions and the cost of lost revenue from not having open positions filled. Vacant positions can cost your organization hundreds of millions of dollars. What is it costing your organization?
Here is a quick way to determine the cost:
Annual Revenue Generated by your organization = Revenue per employee per year / Number of Revenue generating employees
Revenue per employee per year = Daily Revenue / 365 days*
*Feel free to select the number of days that relates to your organization
Daily revenue per employee x Days position is unfilled = Revenue lost per day per unfilled position
Revenue lost per day x Number of open positions = Total Revenue lost per day for all open jobs per unfilled positions