WHAT IS THIS KPI? The Fill Rate is the ratio of successful hires to the total open vacancies filled as a result of an employer’s recruitment strategy
WHY IS THIS METRIC IMPORTANT? The commercial impact of open vacancies in an organisation is high and has the potential to significantly affect the performance of the business. Measuring Fill Rates enables employers to monitor different recruitment initiatives and minimise the number of open vacancies. It also allows the employer to ‘test and learn’ as they look for the right mix of recruitment channels for their organisation
High Fill Rates indicate that the recruitment strategy of an organisation is functioning effectively and that their recruitment processes are operating satisfactorily.A low Fill Rate exposes issues in the recruitment strategy and highlights potential inefficiency or lack of effectiveness in the recruitment channel used
To maximise Fill Rates, the employer will often adopt a blended approach to their recruitment strategy. They may focus on improving capability in their in-house resource as well as developing preferred supplier lists (PSLs) of vetted third part agencies who know and understand their business and can respond to the needs of their hiring managers. They may also seek to add recruitment technologies that increase efficiency and reach
To read more about how to measure recruitment performance in your organisation download this report.