Offer Letter Acceptance Rate
While hiring new employees in the organization, the employer provides a document to offer the job position, that document is known as an offer letter. And when the candidate accepts the offer, it is called offer acceptance. The metric that measures the rate at which job offers are accepted by selected employees after the interview is called the offer letter acceptance rate. The rate is known as OAR (offer acceptance rate).
An OAR indicates the percentage rate of the number of candidates who accepted the offer. A higher OAR rate is proof of good candidate hiring experience and shows how attractive the job offers are. If the OAR of a company decreases, there are very few chances of hiring skilled and desired resources.