How do the salaries in your workplace compare with industry averages?
Take a look into the average pay packets for jobs across Events, Marketing, CRM, Digital, PR and Sales in our 2023 Salary Guide…
We divide the company revenue by the total number of staff to give the revenue per employee. We then divide the revenue per employee by the number of working days to give the daily employee revenue. As role seniority impacts revenue, we apply a multiplier for the revenue role, 1x for Junior, 2x for Manager and 3x for Senior Manager / Executive Leadership to give a role specific daily revenue. We then multiply the role specific daily revenue by the number of days the role is forcast to be vacant to give a total role specific revenue loss. Because you are making a saving by not paying a salary for the vacant post, we then add NIC and other benefits to the base salary and minus this total from the revenue loss to give the total revenue loss. Your minimum revenue loss is dependent on how long this position stays vacant it could be much more than this!