Thrive as a Competitive Staffing Company | Contract Labor Fill Rates

In the competitive world of contract labor, staffing agencies face a constant challenge. There’s no doubt that staffing professionals are working hard, but how do they know if they are succeeding? One key way staffing firms measure their success is by tracking fill rates.
 

Fill rate is a crucial metric for staffing companies. It shows how quickly and effectively they can place qualified candidates in open roles. A high fill rate means that job openings are filled fast, allowing businesses to operate at full capacity sooner. The faster a position is filled, the less time a company has to run short-staffed. When staffing agencies keep their fill rates high, they reduce delays, cut down on extra staffing needs, and help their clients run smoothly. All of this drives growth and leaves clients happy.
 

Key Metrics to Watch

Fill rates can vary based on the industry, the type of role (temporary, permanent, or temp-to-hire), and the state of the job market. Below are some common benchmarks that staffing firms aim for (Sources: Bullhorn, GEM - "The artificial intelligence recruiting platform talent acquisition teams love"):

• Time-to-Fill Rate:

  • Temporary Positions: For temporary or contract jobs, it can take 1 to 15 days to fill a position. For higher-skilled roles, the time-to-fill can be much longer, often between 30 to 60 days.
  • Permanent Positions: Filling permanent or senior-level roles can take 30 to 60 days, and some highly specialized roles may take even longer.
     

• Temp-to-Hire Rate: Around 60% to 70% of temporary workers placed by staffing firms go on to become permanent employees. This shows how well temp-to-hire positions work for both employees and employers.
   

• Re-Fill Rate: The best staffing companies aim to have a re-fill rate below 10%. A low re-fill rate means that candidates placed are a good fit for the job and the company, lowering the chances that positions will need to be filled again.
   

• Success-Fill Rate: Top staffing firms usually fill 80% to 90% of their job orders. A success-fill rate above 90% is considered excellent, as it shows the agency’s strong ability to meet client needs.
   

These metrics help staffing companies evaluate how well they are doing. Keeping competitive fill rates is key to staying profitable and retaining clients in a fast-paced market.

For more information on how to make your staffing company thrive, contact Tyler Tierney with Madison Resources at 1-800-508-3863