Glossary
Terms from A to Z.
From fill rate to cost per placement: what workforce key metrics mean, with the formula from the Workforce Intelligence Model.
9
A
- AbsenteeismAlso: absence rate, sickness absenceKey metric
Absenteeism = absence hours ÷ scheduled hours - Applicant-to-placement conversionAlso: applicant to placement, application-to-placement rateKey metric
Applicant to placement = placements ÷ applicants - Approved versus actual headcountAlso: headcount gapKey metric
Approved versus actual headcount = budgeted FTE − filled FTE, per department - AttritionAlso: turnover, staff turnoverKey metric
Attrition = employees who left ÷ average active pool
C
- Client churnAlso: client attritionKey metric
Client churn = clients active last quarter that now have 90 days without hours ÷ active clients last quarter - Client concentration riskKey metric
Client concentration risk = revenue from top 3 clients ÷ total revenue - Client retentionAlso: client retention rate, customer retentionKey metric
Retention = clients active a year ago that are still active now ÷ active clients a year ago - Contract before first shiftKey metric
Contract before first shift = first shifts with a signed contract ÷ first shifts - Contract realisationKey metric
Contract realisation = invoiced under the contract ÷ agreed contract value - Control loopTermA control loop is a fixed sequence of metrics and actions you use to adjust again and again, from signal to effect. The Workforce Intelligence Model has eight main loops for management, with operational loops below them.
- Cost per applicantAlso: cost per applicationKey metric
Cost per applicant = campaign costs ÷ applicants - Cost per hireAlso: CPH, recruitment cost per hireKey metric
Cost per hire = (internal recruitment costs + agency costs + media) ÷ hires - Cost per placementAlso: campaign cost per placementKey metric
Cost per placement = campaign costs ÷ placements - Cost per qualified applicantKey metric
Cost per qualified applicant = campaign costs ÷ applicants through the first screening - Cost per worked hourKey metric
Cost per worked hour = campaign costs ÷ hours worked by placed candidates - Cost price per hourKey metric
Cost price per hour = (gross wages + employer contributions + accruals + travel expenses) ÷ hours worked
D
- Data managerTermA data manager is the Dashly specialist who knows the market and directs the setup: connecting, recording definitions, validating and keeping the numbers right. You buy this as Dashly Expertise, as advice, hands-on work or an ongoing service.
- Debtor daysAlso: DSO, days sales outstandingKey metric
Debtor days = accounts receivable ÷ revenue × number of days - Deployable hoursKey metric
Deployable hours = suitable hours with placement readiness in order - Deployable supplyAlso: available, suitable, deployableTermDeployable supply is the part of your supply you can actually deploy: available, suitable for the role and placement-ready. The difference between suitable and deployable is called readiness loss.
E
F
- Fill capabilityTermFill capability is the step from commercial demand to fillable demand: what share of what clients request can you actually deliver with deployable supply?
- Fill rateAlso: shift fill rate, fill ratioKey metric
Fill rate = filled shifts ÷ requested shifts - Fillable demandKey metric
Fillable demand = the lower of requested and deployable hours, per role, region and week
G
- Gap between demand and supplyAlso: gap per region, gap per roleKey metric
Gap per region = requested hours − deployable hours, per region and week - Gross marginAlso: gross margin percentageKey metric
Gross margin = (revenue − direct labour costs) ÷ revenue - Gross margin per hourAlso: margin per hour, hourly marginKey metric
Margin per hour = charge rate − cost price per hour, from time registration, rates and payroll
H
I
K
L
- Labour market tightness by role and regionAlso: labour market tightness, vacancy-to-jobseeker ratioKey metric
Labour market tightness by role and region = vacancies ÷ jobseekers per role and region - LeakageTermLeakage is what you lose along the way: clients, requests, candidates, people, hours and money that disappear between demand and result. The model shows where and how much.
M
- Margin per clientAlso: client marginKey metric
Margin per client = revenue − direct costs per client - Margin per client (recruitment marketing)Key metric
Margin per client = fee + media margin − hours × cost price, per client - Margin per placementKey metric
Margin per placement = margin of a placed employee per month and over the term - MCP (Model Context Protocol)Also: Model Context ProtocolTermMCP, the Model Context Protocol, is an open standard for connecting AI applications such as Claude and ChatGPT to other systems. Through MCP, your own AI can request data and use functions outside the chat.
N
P
- Paid versus billed hoursKey metric
Paid versus billed hours = billed hours ÷ paid hours - Pipeline coverageAlso: coverage, pipeline coverage ratioKey metric
Coverage = pipeline ÷ remaining revenue target - Placement readinessKey metric
Placement readiness = assignments with outcome in order ÷ all scheduled assignments, per client and role
R
- Rate versus marketKey metric
Rate versus market = own rate ÷ market rate per role - Readiness lossKey metric
Readiness loss = suitable hours − deployable hours, by cause - Return on recruitment spendKey metric
Return on recruitment spend = margin from hours worked by placed candidates ÷ campaign costs - Revenue variance explainedKey metric
Revenue variance explained = (operational revenue − invoiced revenue) and (invoiced revenue − booked revenue), each with its causes
S
- Scarce skillsKey metric
Scarce skills = requested hours per skill ÷ available hours per skill - Share of voiceKey metric
Share of voice = own mentions ÷ (own mentions + competitor mentions) - Share of walletKey metric
Share of wallet = your own hours ÷ the client's total flex hours, where known - Skills match rateKey metric
Skills match rate = requests with suitable available candidates ÷ all requests - Source attribution rateKey metric
Source attribution rate = applications with a known source ÷ all applications - Steering modelTermThe steering model connects the core of each layer in one direction, from cause to effect. That way every effect can be traced: you see what makes a number move and what it affects in turn.
T
- The balance of demand and supplyTermThe balance of demand and supply is the relationship between what is requested and what you can deliver. What that means exactly differs by type of organisation: hours, vacancies, headcount plan or hire targets.
- Time dimension of a KPIAlso: work date, invoice date, booking dateTermThe time dimension of a KPI determines at which moment a number counts: when the work was done, invoiced or booked. You record that once per KPI.
- Time to fillAlso: days to fill, vacancy lead timeKey metric
Time to fill = placement date − vacancy open date - Time to hireKey metric
Time to hire = date hired − application date - Time to productivityAlso: time to full productivity, ramp-up timeKey metric
Time to productivity = days from start date to fully deployable
U
V
W
- Win rateAlso: win ratio, hit rateKey metric
Win rate = deals won ÷ deals closed - Workforce costs versus budgetKey metric
Workforce costs versus budget = actual payroll costs ÷ budgeted payroll costs, per department - Workforce intelligenceTermWorkforce intelligence is running your whole workforce organisation on numbers from all your systems together, from recruitment and scheduling to payroll, invoicing and margin. It connects demand, supply and results in one model.
- Workforce Intelligence ModelTermThe Workforce Intelligence Model is Dashly's model with all the key metrics of a workforce organisation. Every metric has a fixed formula, frequency and source, and the metrics are connected from cause to effect.
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The model
More than a definition?
The Workforce Intelligence Model shows how the key metrics fit together.
This metric from your own systems?
Dashly calculates it with your own data, with a fixed formula and the source included.