First option acceptance rate
Measures the percentage of conversion for the first option candidate from the hiring process.
Calculation steps:
- choose a time frame
- identify the number of offers made within the time frame
- identify the number of offers accepted by your first option candidate
- divide the number of offers accepted by first option candidate to the total number of offers made
Relevant dimensions: overall company, by company levels, managerial and individual contributors, functional area, key jobs, department, job profile.
It is important to know if the converted candidates are also the first option.
A low first option acceptance rate can mean: noncompetitive pay package, long hiring process, mismatch between job profile and market, issues during the recruitment process.
Example:
Let's say that during the last year you made 100 offers out of which 70 were accepted by your first option.
First option acceptance rate = (70 / 100) x 100 = 100%
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