Vacancies have a tremendous impact on your business that reach far beyond the obvious pressures of keeping up with production demands with fewer employees. Most companies don’t realize the serious effects and how they impact their enterprise value – or even threaten their position in the market. Below are a few lesser considered impacts vacancies, especially excessive vacancies have you’re your organization.
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THE RIPPLE EFFECT
Vacancies, especially excessive ones, can send a message to your customers and suppliers that your organization is weak. This creates a period of confusion; suppliers and customers simply don’t know who to contact, and the stability of the relationship can turn questionable. Even worse, the potential of errors resulting from vacancies might lead to lower sales volume, loss of customers, and loss of market share.
IMPACT ON YOUR TEAM
Vacancies don’t just affect your bottom line; they affect staff, too. Teams can experience disruption, resulting from a loss of productivity, loss of experience, loss of leadership, and even loss of skill from the employee who left. Co-workers feel frustrated and overworked, potentially increasing errors and decreasing work quality.
RECRUITING AND YOUR IMAGE
A large number of vacancies sends the wrong message to future recruits – that your organization can’t retain top talent. As a result, your company’s ability to engage and attract the best talent is negatively affected. This also sends a message to existing employees that your organization may be headed downhill. Moreover, this can send a message to your competition placing a target on your organization to recruit the remaining assets who are likely feeling the pressure of being short staffed compounding your issue.
AVOID THE PITFALLS
At CERS, we understand the challenges companies face in today’s quickly evolving business economy. We partner with your company to optimize how you retain and hire top talent across all departments. Our solutions and consulting services are designed to provide an immediate return on investment – in either productivity or profitability…and often both.