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The Cost of Unfilled Positions

In Executive Leadership, Healthcare, Human Capital Trends, Operational Excellence on March 16, 2010 at 6:09 pm

Written by Brian Hudson 2008

A recent article on careerbuilder.com points out the cost of unfilled positions. The impact and cost of these open positions raise exponentially in the healthcare industry. Here are some thoughts on the article as it pertains to our industry.
Hiring managers must recognize and be able to communicate that leaving a position unfilled is terrible for the company. Each hour that a position remains unfilled, patient care is at risk, questions go unanswered, and new efficiencies go undiscovered. The numerous intangibles associated with full cost calculation make it impossible to assign an exact cost of your open position. Of course, different positions have different costs per day based on how much revenue or risk that role brings in to the organization. Some positions realistically cost a company more to leave open than others – especially licensed healthcare professional positions. It is not uncommon for licensed healthcare openings, such as, pharmacists, nurse case managers, therapists, and laboratory professionals to cost $1000 or more per day. Meaning it would be in the company’s best interest to spend more on recruiting to make a hire quicker.
These numbers often go unrealized when a position is open, but they can help you to build a case against keeping a position open too long. It is important that you realize the money that can be saved when you incorporate the right solution into your recruiting efforts. The right recruiting solution not only brings in quality candidates when you need then, but it improves your company’s bottom-line in the process.

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