Hire Rate & Recruitment Metrics Calculator
Results Summary
Understanding Hire Rate and Recruitment Metrics
In the world of Talent Acquisition, "Hire Rate" is a critical efficiency metric. It measures the effectiveness of your sourcing strategy and the competitiveness of your application process. Calculating your hire rate helps HR managers understand if they are attracting a high volume of unqualified candidates or if their screening process is overly restrictive.
How to Calculate Hire Rate
The standard Hire Rate formula is straightforward:
Key Metrics Included in This Calculator
- Hire Rate (Selection Ratio): Shows the percentage of total applicants that actually join the team. A very low percentage might indicate high brand awareness but poor targeting.
- Offer Acceptance Rate: Measures the percentage of candidates who accepted your formal job offer. If this is low, your salary packages or company culture may not be competitive.
- Time to Fill: The average number of days it takes to find and hire a new employee from the moment the job request is approved.
Example Calculation
Imagine your company posted a Software Engineer role and received 200 applications. After the interview process, you extended 8 job offers, and 6 candidates accepted the positions. Your recruitment team spent a cumulative 180 days to fill these 6 seats.
- Hire Rate: (6 / 200) × 100 = 3%
- Offer Acceptance Rate: (6 / 8) × 100 = 75%
- Average Time to Fill: 180 / 6 = 30 Days per hire
Why Tracking Hire Rates Matters
By monitoring these rates, organizations can identify bottlenecks in their pipeline. For instance, a high hire rate might suggest that your job descriptions are highly targeted, while a low offer acceptance rate warns you that your final negotiations are failing.