Requisition Cancellation Rate
The Requisition Cancellation Rate describes the proportion of vacancies raised that are then cancelled before they are filled.
How do you calculate Requisition Cancellation Rate?
Requisition Cancellation Rate is calculated by dividing the number of cancelled requisitions by the total number of vacancies worked on during the period.
An alternative way to calculate Requisition Cancellation Rate is by dividing the cancelled requisition by only those jobs that were filled & those that were cancelled - however, this will not include those jobs that are still being actively worked on. The choice is yours, however, we prefer the former method - since it gives a truer picture of the time wasted working on requisitions that were cancelled.
A high requisition cancellation rate can indicate...
...time is being wasted within the recruitment function - since talent acquisition may have started sourcing candidates, contacting talent pool members - or cost in advertising the role.
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