Learn what metrics are essential to track for staffing service success, such as fill rate, time to fill, placement quality, conversion rate, and revenue and profit.

One of the key things that must be considered when evaluating time to fill is how long does it take to get client responses. The staffing agency and client must have agree upon response times and substantiate measures in place if the agreement is not filled be either party. An example would be having a SLA in place when candidates are submitted to the client. You also have to make sure that you have the decision makers in play. You will lose candidates if the process is not solidified.

What metrics are essential to track for staffing service success?

If you run a staffing service, you know how important it is to measure your performance and impact. But what metrics should you focus on to ensure you are delivering quality candidates, satisfying your clients, and growing your business? In this article, we will discuss some of the essential metrics to track for staffing service success.

1 Fill rate

Fill rate is the percentage of job orders that you successfully fill with qualified candidates. It reflects your ability to meet your clients' needs and expectations, as well as your efficiency and effectiveness as a staffing service. A high fill rate indicates that you have a strong talent pool, a streamlined recruitment process, and a good reputation in the market. A low fill rate, on the other hand, may signal that you need to improve your sourcing, screening, or matching strategies, or that you are not targeting the right clients or sectors.

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Jonny Breeze

Freelance Talent specialist - Video, Design, Motion, Creative
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Metrics we measure when it comes to our freelance division (aka contractor/temporary division) with our targets. Here are our 5... * Time it takes for us to send first available and suitable candidates (target: 30 minutes) * % of freelance roles we fill (target: 75%) * Satisfaction from both sides - client & freelance (target: very happy+ on our scorecard) * Renewal rates in terms of both client rebooking future talent, and us getting further work for the freelancer (target: monitor time until next activity on both sides) * Diversity metrics in terms of measuring the freelancers we send out; to ensure compliance with diversity and inclusion goals

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2 Time to fill

Time to fill is the average number of days it takes you to fill a job order from the moment you receive it to the moment you place a candidate. It measures your speed and responsiveness as a staffing service, as well as the competitiveness and demand of the job market. A low time to fill means that you can provide your clients with fast and reliable solutions, and that you can capitalize on the available opportunities. A high time to fill, however, may indicate that you are facing challenges in finding or attracting suitable candidates, or that you are not using the best tools or methods to optimize your recruitment process.

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Candace Butler, JDEI Advocate

CEO, 4x LinkedIn Top Voice/Advisor, Healthcare 2.0 Honoree, Passionate Coach, Mentor, Leader, Top Team Builder, Training, Connector, Speaker, EI, Leading Process Improvement and Social Impact in Healthcare People Matter
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One of the key things that must be considered when evaluating time to fill is how long does it take to get client responses. The staffing agency and client must have agree upon response times and substantiate measures in place if the agreement is not filled be either party. An example would be having a SLA in place when candidates are submitted to the client. You also have to make sure that you have the decision makers in play. You will lose candidates if the process is not solidified.

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3 Placement quality

Placement quality is the degree to which your candidates meet or exceed your clients' expectations and requirements. It reflects your accuracy and professionalism as a staffing service, as well as your ability to create long-term value and relationships. Placement quality can be measured by various indicators, such as candidate performance, feedback, retention, satisfaction, and referrals. A high placement quality means that you are delivering consistent and exceptional results, and that you are building trust and loyalty with your clients. A low placement quality, on the other hand, may suggest that you need to improve your assessment, communication, or follow-up skills, or that you are not aligning your candidates with your clients' culture and goals.

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4 Conversion rate

Conversion rate is the percentage of candidates that you place who become permanent hires by your clients. It measures your impact and influence as a staffing service, as well as the potential and suitability of your candidates. A high conversion rate indicates that you are providing your clients with top talent, and that you are helping them achieve their long-term objectives. A low conversion rate, however, may imply that you are not matching your candidates with the right opportunities, or that you are not supporting them throughout the hiring process.

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5 Revenue and profit

Revenue and profit are the financial outcomes of your staffing service, and they reflect your growth and sustainability as a business. Revenue is the amount of money that you generate from your placements, and profit is the amount of money that you keep after deducting your expenses. Revenue and profit can be influenced by various factors, such as your pricing, volume, margin, cost, and efficiency. A high revenue and profit means that you are running a profitable and scalable staffing service, and that you are maximizing your return on investment. A low revenue and profit, on the other hand, may indicate that you need to revise your business model, strategy, or operations, or that you are facing external challenges or threats.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Safa Shabbir

𝑻𝒆𝒄𝒉𝒏𝒊𝒄𝒂𝒍 𝑹𝒆𝒄𝒓𝒖𝒊𝒕𝒆𝒓 | 𝑭𝒓𝒆𝒆𝒍𝒂𝒏𝒄𝒆 𝑪𝒐𝒏𝒕𝒆𝒏𝒕 𝑾𝒓𝒊𝒕𝒆𝒓 | 💡100𝑲 𝑾𝒐𝒓𝒅𝒔 𝑪𝒓𝒂𝒇𝒕𝒆𝒅 𝒕𝒐 𝑰𝒈𝒏𝒊𝒕𝒆 𝒕𝒉𝒆 𝑴𝒂𝒈𝒊𝒄 ✨
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Different metrics are essential to track the staffing services' success. Few are mentioned as Fill rate, Time to fill, Placement quality, Conversion rate, Revenue & profit. Other essential factors are the best sourcing channel, candidates' and clients' satisfaction, and the retention rate. By monitoring these metrics, a staffing service can be improved to achieve success.

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What metrics are essential to track for staffing service success?

1

2

3

4

5

6

1 Fill rate

2 Time to fill

3 Placement quality

4 Conversion rate

5 Revenue and profit

6 Here’s what else to consider

Recruiting

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What metrics are essential to track for staffing service success?

1

2

3

4

5

6

1 Fill rate

2 Time to fill

3 Placement quality

4 Conversion rate

5 Revenue and profit

6 Here’s what else to consider

Recruiting

Rate this article

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