The BASK names four retention and turnover metrics. The recurring trap is that one of them sounds like a recruiting metric and is not.
The four metrics
Quality of hire, voluntary turnover rate, turnover at a specific location or level, vacancy rate.
Distractor lists: cost per hire, time to fill, applicant-to-interview-to-offer ratio and candidate yield is the talent acquisition list. Insurance participation rates and compa-ratio is Total Rewards. Person, organization, training and cost-benefit needs analysis is the Learning & Development needs-analysis list.
Quality of hire is a post-hire measure
The BASK places quality of hire under retention and turnover metrics, not talent acquisition metrics. The practical implication is that it is an outcome measure evaluated after the employee has been performing on the job, not a recruiting-funnel measure.
- It does not replace the applicant-to-interview-to-offer ratio in the funnel.
- It is not a cost-efficiency measure of the sourcing channel; that is cost per hire.
- Its placement does not make it recruiters' metric to report.
Vacancy rate
Vacancy rate is the metric for the share of budgeted positions currently unfilled.
- Voluntary turnover rate measures separations initiated by employees, not open roles.
- Time to fill measures how long it takes to close a requisition, not how many are open, and it is a talent acquisition metric.
Why segmentation is on the list
The BASK names turnover at a specific location or level as its own metric because an acceptable company-wide rate can conceal severe turnover in a single site or job level that needs targeted action. Aggregate rates average away concentrated problems.
- Segmentation is not an EEOC filing requirement.
- Segmentation does not turn turnover into a leading indicator. The BASK's forward-looking practice is predictive attrition analysis.
- Segmented rates are not required for benchmark comparison: SHRM's benchmark medians are reported at the overall, voluntary and involuntary levels.