Key Takeaways
- Staffing and recruiting KPI examples include number of starts per week, fill percentage of open jobs, redeployment percentage, weekly job orders, spread or gross margin, time to fill, offer acceptance rate, billable hours, and hiring manager satisfaction.
- Don't just copy another company's KPI list; start by thinking about the business results critical to your staffing firm, then build the dashboard around them.
- Begin with your critical numbers, usually determined in Annual and Quarterly Planning sessions, as the highest-priority KPIs on your dashboard, then add results indicators for what you are trying to achieve this quarter.
- For each results indicator, identify a leading indicator KPI so you can see the future health of your company and avoid being blindsided; the right dashboard balances where you have been and where you are going.
- Review your chosen staffing KPIs at every weekly team meeting so you can adjust and get the team back on track when they are off the mark.
At Rhythm Systems, we work with clients to ensure they are measuring the metrics that matter to allow them to achieve their dreams and goals. Our strategy execution software will enable you to create KPI dashboards to ensure team accountability, alignment, and execution-ready quarterly plans. The staffing industry KPIs for recruiting that we have compiled below represent many metrics that can be measured. However, make sure that you pick the top recruiting KPIs that work for you and your team.
The Staffing Industry has grown nearly twice as fast as the economy. As we begin to see growth rates in the industry return to normal, the key is to align your team around the proper KPIs with a good mix of results and leading indicators. Finding quality candidates in today's economy is equally challenging, and you need a recruitment team that is excellent at talent acquisition—at the same time, keep your cost per hire down. You'll want to pick the staffing KPIs you want to discuss at every weekly team meeting so you can adjust to get your team back on track if they are off the mark. Picking the right recruiting metrics will depend on each company, but we have several staffing metrics below for you to use as a template.
Staffing Industry KPI Examples for Recruiting:
- Number of starts per week
- Fill percentage of open jobs
- Percentage of redeployment
- Weekly Job Orders
- Spread or gross margin
- Applicants to hire ratio or offer acceptance rate
- Employee Retention or turnover rate
- Billable hours
- Number of timesheets submitted on time
- Time to fill
- Submissions per hire (to monitor the hiring process)
- Temps to full-time hire
- Continuing education and training hours
- Number of client proposals (sales leading indicator)
- Number of quality meetings per week (sales leading indicator)
- Sales deals closed won
- Glassdoor recommendations/stars
- Fill rate
- Interview to hire rate
- New hires vs. replacement hires and source of hire
- Number of billable hours closed/won
- Number of billable hours delivered
- Number of days to fill (or average time to fill)
- Revenue
- Client substitutions or acceptance rate
- Hiring manager satisfaction rates or quality of hire
- Job performance (sales quotas, customer satisfaction ratings, etc.)
While staffing KPI examples like the ones above can be helpful as you start thinking about the right recruiting KPIs for your firm, the key to getting the right KPI dashboard for your company is not just to copy another company's existing list. If you want to drive long-term value for your company, you need to start by thinking about the business results critical to your staffing firm and measuring employee performance.
One of the best places to start planning your staffing KPI list is with your critical numbers. These numbers are usually determined in your Annual Planning and Quarterly Planning sessions and should be the highest priority KPIs on your dashboard. Then, could you consider what other results you are trying to achieve this quarter above and beyond your critical numbers? This will help you develop results indicators to reveal the current health of your business based on past results. From there, think about what a leading indicator KPI might be for each of your results indicators so that you can look into the future health of your company and avoid being blindsided. It would be best if you had the right balance of metrics on your staffing KPI dashboard to determine where you have been and where you are going.
We work with many staffing companies at Rhythm Systems and understand the regional and industry challenges involved. We would love to see if we can help you accelerate your growth goals by increasing employee engagement and your bottom line. Please take a quick peek at our Rhythm Strategy Execution Software Demo or schedule a time to talk with one of our experts so we can help you better define your strategy, align your teams, and execute your plan. We can help you scale by growing revenue faster than you increase the number of employees and improve employee alignment toward your strategic goals.
Rhythm Systems KPI Resource Center for all you need to know about Key Performance Indicators and how they can help you drive your staffing business. The data-driven approach to these recruiting KPIs can help you increase profitability and market share in a competitive environment.
Frequently Asked Questions
What are the most important KPIs for staffing agencies?
Common staffing and recruiting KPIs include number of starts per week, fill percentage of open jobs, percentage of redeployment, weekly job orders, spread or gross margin, offer acceptance rate, employee retention or turnover, billable hours, time to fill, submissions per hire, temps to full-time hires, and hiring manager satisfaction or quality of hire. Sales-side leading indicators include number of client proposals and number of quality meetings per week.
How do you choose the right recruiting KPIs for your firm?
Don't just copy another company's list. Start by thinking about the business results critical to your staffing firm. Begin with your critical numbers, usually set in Annual and Quarterly Planning sessions, as the highest-priority KPIs on your dashboard. Then consider what other results you are trying to achieve this quarter and develop results indicators for them, plus a leading indicator for each.
What is the difference between leading and results indicators in staffing?
Results indicators reveal the current health of your business based on past results, like revenue or fill rate. Leading indicators let you look into the future health of your company so you can avoid being blindsided, like number of client proposals or quality meetings per week. Your staffing KPI dashboard needs the right balance of both to show where you have been and where you are going.
How often should staffing KPIs be reviewed?
Weekly. Pick the staffing KPIs you want to discuss at every weekly team meeting so you can make adjustments and get your team back on track if they are off the mark.
What are critical numbers?
Critical numbers are usually determined in your Annual Planning and Quarterly Planning sessions and should be the highest-priority KPIs on your dashboard. They anchor your KPI list before you add other results indicators and their leading indicators.