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How to Calculate the Cost of Vacancy
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Understand the impact open sales positions have on your company’s revenue
Calculate the cost of vacancy for sales positions: learn the true cost of turnover
Open sales positions deplete your bottom line. And your bottom line depends on knowing your cost of vacancy. Each day a sales position is open adds up to lost sales, productivity, and profitability. This simple calculation can show how sales representative turnover affects sales, and what adjustments you need to make to right the ship.
If you aren’t staffing all available positions, your sales team may be stretched thin and unable to serve all your customers, ceding valuable market share to fully-staffed competitors. Managers, too, are feeling the pinch. Without a full staff, they may be covering multiple territories, leaving them with little time to manage their current team members. This overburdened team may see morale drop, resulting in more turnover and vacant positions.
Although it may seem less costly to leave a position unfilled (saving your company the hard costs of the employee’s salary, benefits, and overhead expenses), the opposite is true.
Use our simple cost of vacancy calculator to receive a high-level analysis of your current sales team, annual revenue targets, estimated turnover, and average time-to-fill. By understanding how many positions you need to fill and how long they’re staying open, you’ll see the true cost of open positions.
Need further insight? Contact ACA Talent today to learn how you can improve retention and decrease your cost of vacancy.
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