High Cost of Leaving a Job Position Unfilled in Your Company
(leaving jobs "unfilled" in your company means
LOSING MONEY, not saving money!)

According to a report released earlier this year by Mary Lorenz published on CareerBuilder.com, "...employers estimate that on average, they lose more than $14,000 for every job that stays vacant for three months or longer, and 1 in 6 companies say they lose $25,000 or more."

An article published last summer in The Washington Post titled, Jobs Are Staying Vacant Longer Than Ever, stated, "The average job opening went unfilled for 25.1 days in May, the longest duration since at least 2001 (as far back as the data series goes). That compares to a low of 15.3 days in July 2009, about when the recovery officially began."

On average, across all industries, the typical job opening stays "unfilled" anywhere from 25 to 40 days.

So, why do so many job positions go unfilled in a time when many experienced candidates are relentlessly looking for work?

One of the reasons given is because candidates lack the necessary skills…but more times than not the root of the problem really stems from “slow process”—maybe intentional, maybe not.

Catherine Rampell, opinion columnist at The Washington Post says, "...I am skeptical about the skills-mismatch explanation for why jobs are staying vacant longer. A shortage of skilled workers should lead to sharp wage growth as businesses fight over the few qualified applicants out there. We just haven’t seen much evidence of that yet. Other possible explanations for foot-dragging include: uncertainty, about both public policy and the state of the economy; unrealistic employer expectations about what the kinds of qualifications workers should have vs. how much these workers deserve to be paid; and the fact that some larger companies may have gutted their H.R. departments during the recession."

Regardless of your reasons—if you think your organization will save money with the "let’s see how long we can get away with not filling this position and save the money" mantra, think again—it may be costing your company more than you know.


Do You Have a Plan for MPS?Calculate Your Company Losses from "Unfilled" Jobs
 
Click to enlarge.

(Ex: Loss on average of $20,455 per employee during a 30-day period as a job goes "unfilled.")

You can estimate how much you are losing by keeping a position unfilled through this simple Revenue Cost calculation.

Step 1: Divide your company’s total annual revenue by your company’s total number of employees. This will give you the annual revenue per employee.

Step 2: Divide the annual revenue per employee by 220 (average number of work days per year). This will give you the daily revenue worth per employee.

Multiply the daily revenue worth per employee by the number of days the job remains unfilled to get a total LOSS amount for that period.


Talent VaultThe Morisey-Dart Talent Vault!

We've updated the top talent we continue to recruit; click here to see what we've found!

We have "A Players" available in the following industries: Banking & Financial Services, Construction, Medical Device, and Document Solutions (MPS).

 

We are currently conducting a search for the following positions:

#1504 Commercial Banker III - Phoenix, AZ
Looking for a Commercial Banking Go-Getter! Our client is a $5.9-billion financial services company dedicated to the principles of community banking: Community involvement--they believe that outstanding customer service is the most important core value they can offer their customers. They are currently looking for a Commercial Banker III to perform all duties associated with this position.
get more information...

#1502 Quality Manager, Medical Device - Central Massachusetts
Growing Medical Device Client is seeking a Sr. Manager of Quality to oversee their quality team. Above all we need a true Leader. A strong Manager who can provide direction to a growing team.
get more information...
 
#1503 Sales Manager - Gulfport, MS
Global Manufacturer of Office Equipment (OEM) actively seeks an experienced Sales Manager to drive their sales organization to success. Excellent opportunity and solid salary and commissions structure. Prior industry management experience is required.
get more information...
 
#1494 Commercial Lending Expert (Mid-Market Relationships) - Indianapolis, IN
Loads of banks are trying to grow their market share in Indianapolis...But only a few SHOULD. Our client is one of those institutions, and they seek the final piece to their penetrative puzzle in developing this lucrative Midwestern area. They have the long-term resources, the well-tenured leader, and the product portfolio to do so – now all they need is YOU!
get more information...
 
#1358 Medical Coders - Reno, NV
An emerging giant a soon to be leader in Medical Transcription is looking for a few MT's who can transcribe as well as code. We're looking for someone who has approximately 6 years of transcription experience and understands coding and has experience with EMR's. This also comes with benefits and pays overtime. We are also looking for managers who have experience managing groups of 12-15 coders.
get more information...
 
Check out the rest of our opportunities below!


LinkedIn
Join one of our LinkedIn groups in the Medical Device and Managed Print Services (MPS) areas; click on one of the group logos below.

We look forward to meeting you online.

Medical Device Group   Document Solutions Premier Talent Group

         

 About The Morisey-Dart Group:

The Morisey-Dart Group executive recruitment firm partners with clients to find the impact players needed to solve problems, meet demands for growth, and control costs, while improving efficiency.  They are specialists in areas such as Construction, Document Management Solutions, Managed Print Services, Medical Device,  Health Information Technology (HIT),  Financial Services, and Banking and Legal industries.

For more information visit: www.morisey-dart.com
 

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