Savings methodology
We estimate that Teaching Vacancies' current savings figure is between £47.3 and £60.8 million, from September 2018 to August 2024.
How we calculate the savings figure
Teaching Vacancies’ savings methodology is calculated yearly and is based on feedback from hiring staff.
Once a vacancy closes, hiring staff are asked if they:
- listed the vacancy on a paid service
- listed the vacancy on a mix of paid and free services
- listed the vacancy on a free service
- do not know where else they've listed the vacancy
- did not list anywhere else
Responses are collected to provide a free vacancy listing figure. This is the amount of vacancies listed only on Teaching Vacancies or on Teaching Vacancies and a free alternative where there was no cost incurred by the school.
The savings estimate provides a minimum and a maximum savings figure. This is calculated by assuming a 'do not know' response could represent a vacancy listed:
- only on Teaching Vacancies or a free service
- on a paid service
The amount of total vacancies that are no cost are then multiplied against the average cost of a vacancy to work out a savings estimate. The average cost of a vacancy is an approximate market rate of a paid job advertisement, based on research.
The result shows how many vacancies listed on Teaching Vacancies are likely not listed on paid services, giving an estimate of cost savings.
Not all hiring staff respond to the questionnaire so this is an approximate sample of all vacancies listed in a year.
To find out more about the savings figure, contact us.