Vacancy Cost Calculator

See how much open positions cost your business each year, and what faster hiring or lower turnover could save. Enter your headcount, turnover rate, and average time to fill. The Excel workbook calculates annual vacancy costs, the average number of vacant positions at any given time, and the potential savings from each improvement.

Explore the cost of open positions

Enter your headcount, annual turnover rate, average time to fill, salary and benefits load for the roles that turn over, and cost-of-vacancy factor. The workbook calculates the cost of one vacancy over the full time to fill, the average number of vacant positions, annual vacancy costs, and their share of payroll. The Scenarios tab shows the potential savings from faster hiring and lower turnover, separately and together. A one-page Summary brings the main figures together for leadership discussions. The Benchmark tab includes turnover, time-to-fill, and cost-of-vacancy figures from SHRM, BLS, Mercer, and Gallup. The workbook opens with a worked example so you can follow the calculations.

Open positions create costs throughout the year. At a given headcount and time to fill, some positions will typically remain vacant. The cost-of-vacancy factor has the greatest effect on the estimate. Start at 100% for a typical salaried position. Use a higher factor for revenue-generating or hard-to-cover roles, and a lower one where the team can absorb the work.

Built for

• HR and talent leaders evaluating the annual cost of open roles and building a financial case for recruiting or retention investments.
• Finance and operations partners comparing annual vacancy costs with the potential savings from faster hiring and lower turnover.
• Owners and managers evaluating the annual cost of vacant positions and what filling them faster could save.

The Cost of Turnover Calculator estimates the full cost of one employee leaving and being replaced. For the cost of each open role based on its days vacant, see the Time-to-Fill Cost Calculator. The Cost Per Hire Calculator covers recruiting spend.

Before you buy

What format is it, and can I edit it?

You receive one Excel workbook that also works in Google Sheets. The download includes five files: the workbook, a Start Here, the one-page Quick Reference, the product license, and a short guide to using it in Google Sheets. Every input and formula is editable. Duplicate the file whenever you want to update the figures as your workforce changes. Your download link is available immediately after checkout, with the same link emailed on your receipt.

How is this different from the free calculator?

The workbook saves your numbers and lets you review every formula. The Scenarios tab calculates potential savings from faster hiring and lower turnover, while the leadership-ready Summary and sourced Benchmark tab provide context for the results. The quick on-screen calculator estimates vacancy costs. The workbook also shows the potential value of reducing those costs.

What is the refund policy?

Digital products are covered by a 30-day money-back guarantee. To request a refund, email support@truestephr.com or reply to your receipt within 30 days of purchase. Questions? Email support@truestephr.com.

How the download works

Your files arrive as a single ZIP download, best opened on a computer. Save it, extract it (right-click and select Extract All on Windows, or double-click on a Mac), then open the Start Here file first. PDFs open in any reader, and editable files work in Microsoft Excel or free equivalents, including LibreOffice and Google Sheets. No other software is needed. Step-by-step help for every device is at truestephr.com/pages/download-help.

Scope

These are planning estimates based on your inputs, not legal advice. The cost-of-vacancy factor has the greatest effect on the results. Set it to reflect the roles you are evaluating, then compare the total with the Benchmark tab.