Comments on: Cost of Vacancy Formulas for Recruiting and Retention Managers

By: Everyone Hates the Time to Fill Metric | Accidental Entrepreneur

Everyone Hates the Time to Fill Metric | Accidental Entrepreneur — Wed, 07 Sep 2011 10:34:40 +0000

[...] really important to the company is how long the position goes vacant. If you are familiar with the Cost of Vacancy metric (CoV) you will know that for every day a position is not filled you can calculate a cost. If a position [...]

By: How Personality Assessments Can Benefit Your Business in 2011 | Emergenetics

Mon, 31 Jan 2011 18:07:47 +0000

[...] From Ere.net – From $7,000-$12,000 a DAY in vacancies in key roles! [...]

By: The Career Tree Network Blog » Blog Archive » Recruitment Strategy from the Green Bay Packers

Thu, 20 May 2010 23:28:05 +0000

[...] The Packers don’t want any empty seats at their games and your CEO doesn’t want any empty seats either. (Three words: Cost of Vacancy.) [...]

By: Jim Cargill

Jim Cargill — Wed, 05 Sep 2007 04:49:00 +0000

Jodie,
The disconnect between HR Managers and Hiring Managers is very real, and is unlikely to go away. While HR Managers are evaluated on many factors, a huge consideration in performance is cost containment, or cost-per-hire. Conversely, most Hiring Managers are evaluated on productivity, or revenue-generation. Cost control is a consideration, but is certainly less so than productivity and revenue. For an HR Manager, especially in certain industries, a 3-month vacancy is no big deal. Meanwhile, the Hiring Manager who has to deal with the vacancy is pulling his/her hair out as every day goes by. If the HR Manager could hear some of the things the Hiring Managers tell us, they would be mortified, for sure.

As for going with three recruiters to work on a single position…sorry, but that seldom yields the best results. Any HR Manager who tries to deal effectively with three different recruiters for a single position will be frustrated, for sure. So will the recruiters. HR Managers need to find someone who delivers good results, and hang onto them. Treat them like a business partner, not like an adversary.

By: Josie Erent

Josie Erent — Mon, 03 Sep 2007 01:48:00 +0000

I have been a recruiter now for almost 10 years.

I have come across many disgruntled middle managers who are focussed to be their own recruiters in addition to taking on the corporate responsibilities.
This translates to working hours beyond 50 hours a week and more which unfortunatley will take a toll on the individual who is being asked to work more for less.

It is quite troubling to see the opinions of some HR professionals that a vacancies of 3 months or more is acceptable while the hiring managers are becoming angry and frustrated. Their anger is justified especially when a companies refuses to acknowledge that existing recruitment methodologies are not working and that this search requires the services of a professional recruiter/agency.

This market is clearly a candidates’ market where simply great candidates have the option of obtaining great jobs with various different companies of choice.
The employers are not in the drivers seat and will simply force the middle manager to another job opportunity because of lack of support and indifference.

Companies should be using the services of a professional recruiter during these difficult periods. I would also recommend using 3 and not just one simply because it will guarantee results and professional expertise that the others lack.

With the employee shortage looming……….more companies will have to realize that in order to attract and retain the best and the brightest…..companies will have to offer more than simply a paycheck.

The relationship between a employer and a employee should be 50%/50% relationship not a one sided relationship wiht a non compete clause.

By: Bryan Baldwin

Bryan Baldwin — Fri, 31 Aug 2007 06:22:00 +0000

Great article, thanks for the re-post. Only thing I can think of that’s missing: potential for negative media exposure and/or political pressure, which exacerbates all of the issues you note.