What is Offer Letter Acceptance Rate?
The Offer Acceptance Rate (OAR) is a key metric in recruitment that measures the percentage of candidates who accept a job offer after the interview and selection process.
Definition:
Offer Letter Acceptance Rate (OAR) represents the ratio of accepted job offers to the total number of offers extended.
Importance of OAR:
Indicates Candidate Experience: A high OAR reflects a positive hiring experience and appealing job offers.
Measures Attractiveness: It demonstrates how competitive and attractive the organization's job offers are in the market.
Highlights Challenges: A declining OAR signals potential issues such as uncompetitive compensation, ineffective communication, or weak employer branding, which may hinder hiring skilled talent.
Tracking and improving OAR is critical for ensuring an efficient and effective recruitment process.