An Offer Acceptance Rate shows the percentage of job offers that have been accepted from the hiring process. It is calculated by knowing the Job Offers Accepted by the Job Offers Extended.
In China, this metric can be complimented by a Show Up Rate which would be the Onboards Completed by Jobs Offers Accepted as it is not uncommon for Candidates not to show up for their first day of work even though they accepted the offer.
Both ratios may be good indicators for measuring the strength of your employer brand, productivity and skillfulness of your recruiters/hiring managers in assessing the needs and wants of the Candidate, and quality and effectiveness of internal communications.
A low rate should force the organization to reevaluate:
• The ways it markets its employee value proposition,
• The salaries benchmarking data,
• Candidates' journey with particular focus on pre-employment activities, and
• The communication approach with Candidates.
An organization should also take proactive steps before, during, and after an offer acceptance to ensure a high conversion rate. A few sample initiatives include:
• Be clear about your employee value proposition and communicate it persuasively.
• Send the Candidate a small company gift, marketing collaterals, and/or a card from the Division Head or even better, the CEO.
• Let the Division Head/CEO call the Candidate.
• Invite the Candidate to join any team activities that are scheduled before his/her Onboard Day.
• Connect with the Candidate via Facebook or Twitter in order to update him/her on the organization's status and any new happenings or successes.
