Reviewing a staffing agency’s metrics will determine the balance of quantity, quality, accuracy, and speed they provide. One metric to examine is fill-rate. Knowing these 4 types of fill-rates will help you narrow down what’s important to your company and partner with an agency that aligns with your objectives.
This will measure, in days, how long it takes an agency to fill an order. From the day it’s placed by the client, to the day the employee is selected.
This should only be calculated on assignments that are determined up front that the employee will be hired on if successful. In that situation it will tell you how often the staffing agency sent the right person.
This rate is used to tell you how often the first candidate did not work out, and how long it took to find a replacement. This is a good indicator of how often the agency doesn’t get it right the first time and how long they take to make it right when they don’t.
This data will tell you how many orders were completely filled. If you order 5 employees and the agency only sends 4, they would have an 80% fill-success-rate.
Now that you understand staffing fill-rates, you can see where their strengths lie.
If an agency that has:
- A fill-rate of 1 day on orders up to 5 people
- 10 day fill-rate on orders over 5 employees
This agency may not be structured to handle high quantity orders.
If an agency has:
- 95% fill-rate for 2-3 employee requests
- Fill-time of 3 days
- 85% temp-to-hire conversion rate
This agency can react quickly with the right people.
The final piece is matching up your hiring needs to the agency that is strongest in those areas; and selecting the agency that has the best balance of quantity, quality, accuracy, and speed for your company’s needs.
Once you’ve created a hiring profile for your company, it’s easy to grade an agency’s strength against your hiring criteria. Always remember that you get what you pay for. Paying a little more for an agency whose strengths match your company’s hiring needs will save you time, money and frustration in the long run.