Which formula is used to calculate Application Completion Rate?

The rationale behind selecting the formula for Application Completion Rate as the number of submitted applicants divided by the total number of candidates who started an application lies in what the metric is designed to reflect.

Application Completion Rate specifically measures how many candidates complete the application process once they initiate it. By taking the number of submitted applicants and dividing it by the total number of candidates who started the application, you get a clear understanding of the effectiveness of the application process itself. It directly indicates the proportion of candidates who, after beginning the application, went on to submit it successfully.

This metric is crucial for identifying potential friction points in the application process that may cause candidates to abandon their applications. It helps organizations assess the user-friendliness and overall efficiency of their application systems, as well as the level of candidate engagement throughout the application journey.

The other formulas provided measure different aspects of the hiring process, such as overall submission rates, interview rates, or hire percentages, which do not provide insights specific to the application completion aspect. Therefore, they do not serve the purpose of understanding how effectively candidates are completing applications once they begin.