Cost of a Vacant Position Calculator
An open position costs you money every day it stays empty: the work that role should be producing is not getting done, or other people are covering it at the expense of their own jobs. To estimate the cost, take the yearly value of the role, divide by 365, and multiply by the days the seat is open. Use the free calculator below with your own numbers.
Cost of a vacant position calculator
| Measure | Amount |
|---|---|
| Cost per day | $329 |
| Cost per week | $2,301 |
| Cost of every extra 30 days | $9,863 |
The numbers shown first are an example only. Replace them with your own. The result counts lost output and cover costs only. It does not count burnout, turnover or lost customers, so treat it as a floor.
How do you calculate the cost of a vacant position?
- Put a yearly value on the role. The simplest honest number is the salary itself. Roles that bring in revenue are usually worth several times their pay, so use a higher multiple for sales and senior leadership roles.
- Turn it into a daily number. Divide the yearly value by 365.
- Take out the work others are covering. If the team is keeping up part of the job, lower the lost output by that share.
- Add the cost of cover. Overtime, temps and contractors.
- Multiply by the days open.
Worked example: a $120,000 role valued at 1x salary and open for 90 days, with no one covering it, costs about $29,589, or roughly $329 a day. The same seat valued at 2x salary costs about $59,178.
Why does time to fill matter so much?
Every extra month a seat stays open adds the same cost again. That is why a search that drags on can cost more than the recruiting itself. It also wears down the people covering the work, which raises the risk of losing them too.
How do you fill a role faster without hiring the wrong person?
Agree on the scorecard before you start, keep the interview loop short, and make decisions within days, not weeks. Speed only helps if the hire works out: a rushed wrong hire costs far more than a few extra weeks. See the Bad Hire Cost Calculator and the free Executive Interview Scorecard.
Riderflex runs searches from associate-level volume hiring through the C-suite, nationwide, with a progress update every week on every search. For hourly help, see Recruiting on Demand. Talk to Riderflex or call 888-964-5876.
Frequently asked questions
What is the cost of a vacant position?
It is the value the role would have produced while the seat was empty, plus anything you paid for temporary cover. A simple estimate is the yearly value of the role divided by 365, times the days the seat is open.
What multiple should I use for the value of a role?
Use 1x salary if you are not sure. Use a higher multiple for roles that directly bring in revenue or lead teams that do.
Is this calculator free?
Yes. It runs in your browser, needs no sign-up and does not store what you enter.