Most small agencies know roughly how the month went. Fewer know why. Tracking a handful of recruitment KPIs shows you where roles stall, which clients are worth your time, and where your next placement is most likely to come from.
You do not need expensive software for this. Every one of the recruitment metrics below can be tracked in a spreadsheet you already have.
Why Track Recruiter KPIs at All?
Big agencies use dashboards full of recruiting metrics. A solo or boutique agency needs fewer, but the right ones. Good recruiter KPIs answer three questions: how fast you fill roles, where candidates drop out, and how much each placement is really worth.
Many hiring metrics you will read about are built for in-house teams. The eight below are adapted for agency work, where you are paid on placement.
Set Up Your Recruitment Spreadsheet
Start with one simple recruitment tracker. Add one row for each candidate you submit to a job, with these columns:
| Column | Example |
|---|---|
| Job and client | Senior Accountant, Client A |
| Date job taken on | 01/09 |
| Candidate | Initials or ID |
| Date submitted | 04/09 |
| Interview (Y/N) | Y |
| Offer (Y/N) | Y |
| Accepted (Y/N) | Y |
| Date accepted | 30/09 |
| Fee | £ amount |
| Still in role after rebate period (Y/N) | Y |
Once your recruitment spreadsheet has these columns, every KPI below is a simple count or formula. Our guide to the recruitment process covers the stages these columns follow.
The 8 Recruitment KPIs Small Agencies Should Track
1. Time to Fill
Formula: Date accepted minus date job taken on.
Time to fill shows how long a role takes from instruction to accepted offer. You may also see time to hire, which usually starts from when a candidate enters the process. For agencies, time to fill is often more useful, because it reflects how quickly you deliver for a client.
2. Submission to Interview Ratio
Formula: Interviews ÷ CVs submitted.
This is the first step of your recruitment funnel. A low ratio usually means a mismatch between your shortlist and what the client wants, so it is worth a quick call to recheck the brief.
3. Interview to Offer Ratio
Formula: Offers ÷ interviews.
The interview to offer ratio shows how well your candidates perform once they meet the client. If it drops, look at how you prepare candidates for interviews.
4. Offer Acceptance Rate
Formula: Offers accepted ÷ offers made.
A falling offer acceptance rate often points to salary expectations or counteroffers. Ask about both early in your conversations with candidates.
5. Fill Rate
Formula: Roles filled ÷ roles taken on.
Fill rate is one of the most important KPIs for a contingency agency. A low fill rate means you are spending time on roles that never pay. Track it by client to see who is worth prioritising.
6. Placement Rate
Formula: Placements ÷ candidates submitted.
Placement rate shows how efficient your shortlists are overall. Submitting fewer, better-matched candidates usually improves it.
7. Cost per Placement
Formula: Monthly costs ÷ placements that month.
This is the agency version of cost per hire. Include job board fees, software and your own time. Compare it with your average fee to see your real margin.
8. Placements Kept After the Rebate Period
Formula: Placements still in role ÷ total placements.
This is a simple way to measure quality of hire. It also protects your income, because early leavers can mean refunds under your terms of business.
How to Review Your Recruitment Metrics Each Week
Update the spreadsheet as things happen, then review the numbers once a week. Look for trends over a month or a quarter, not single results. If you spend hours on manual updates, our guide to recruitment automation shows what can be handed to software.
Many of these numbers improve when you find the right candidates faster. EdgeTal, our app, lets you search your CV library in plain language on your phone, with candidate data stored on the device. It is currently in a limited beta.
Conclusion
You do not need a dashboard to understand your agency. Pick the kpis for recruitment that matter most to you, track them in one spreadsheet, and review them weekly. If you are still setting up, our guide on how to start a recruitment business covers the basics, and our guide to recruiting CRMs explains when to move beyond spreadsheets.
Want faster CV search with candidate data kept on your phone? EdgeTal is in a limited beta, onboarding small groups of UK agencies. [Join the early access waitlist]
Frequently Asked Questions
What are the most important recruitment KPIs for a small agency?
Start with time to fill, fill rate and offer acceptance rate. Together they show how fast you deliver, which roles actually pay, and where deals fall through.
What is the difference between time to fill and time to hire?
Time to fill measures from when you take on a role to an accepted offer. Time to hire usually measures from when a candidate enters the process to acceptance.
Can I track recruitment KPIs in a spreadsheet?
Yes. One row per candidate submission, with dates and yes or no columns for each stage, is enough to calculate all eight KPIs.