Damages from Lengthy Time-To-Fills

In today’s fiercely competitive business landscape, the ramifications of prolonged vacancies extend far beyond the mere absence of personnel. Damages from Lengthy Time-To-Fills encompass a multitude of detrimental effects that can undermine a company’s growth and erode its competitive edge. The follow list highlights several of the negative repercussions of prolonged vacancies:

1. Losing revenue. When critical revenue impact positions go unfilled, there is a lost opportunity to generate revenue every day that the positions remain vacant.
2. Limiting Product Development. Key vacancies in a product development team curtail new product development. With slowed product development, the company’s ability to increase revenue is impaired.
3. Limiting expansion in growing business units. Rapid growth divisions and growing geographic regions are limited in their ability to continue to grow and their competitive position is threatened.
4. Hurting customer service and product brand image. Understaffing impacts service quality and makes customers feel that the company is losing its ability to support them. Lengthy time-to-fill negatively impacts product brand, online image, and sales.
5. Damaging business processes. When process teams experience attrition, long timeto-fills cripple that process and related ones.
6. Increasing top employee turnover. Understaffing reduces the chance for promotions and advancement which causes top performers to seek new opportunities.
7. Retaining dead wood. Having to continually carry low performers leads to lower productivity overall, weakens management effectiveness, and frustrates top performers.
8. Impacting new technology implementations. Lengthy time-to-fills limit the company’s ability to acquire new technologists to implement new technologies.
9. Encouraging the competition. Chronically open positions incentivize competitors to recruit top employees and major customers away from the company.
10. Impacting market share. Continually open positions send a message to customers, suppliers, and competitors that the company is not in growth mode.