The Executive Hiring KPI Matrix organises hiring performance metrics into three dimensions: operational (speed and throughput), quality (candidate and hire quality), and financial (cost and ROI). For each metric, the matrix defines the calculation method, the industry benchmark, the Majhi Group target, the owner, and the reporting cadence. The matrix is designed to drive weekly action at the recruiter level, monthly review at the VP People level, and quarterly strategic discussion at the CEO/CFO level.
Why Most Hiring Dashboards Are Misleading
Most hiring dashboards track the wrong metrics in the wrong way. Time-to-fill is reported as an average — which masks the distribution. Offer acceptance rate is reported without segmenting by role level — which conflates executive and volume hiring. Cost-per-hire is often calculated without including the cost of failed searches or the cost of vacancy. The Executive Hiring KPI Matrix defines each metric precisely, specifies what to include and exclude in the calculation, and provides the industry benchmark that makes the target meaningful.
"An average time-to-fill of 45 days means nothing if 20% of searches take 120 days and 80% close in 30. The KPI matrix tracks distribution, not just average — because failure hides in the distribution."
Executive Hiring KPI Matrix
| Dimension | KPI | Calculation | Industry Benchmark | Majhi Target | Reporting Cadence |
|---|---|---|---|---|---|
| Operational | Time-to-fill | Days from mandate signature to offer acceptance | 65–90 days (VP/C-suite) | 30–45 days | Per mandate + monthly portfolio |
| Operational | Pipeline velocity | Days per stage vs. SLO | Varies by stage | At or below SLO per stage | Weekly per mandate |
| Operational | Sourcing-to-shortlist ratio | Candidates sourced per shortlist delivered | 40:1 industry average | 25:1 Majhi target | Per mandate |
| Quality | Shortlist approval rate | % of presented candidates advancing to interview | 38% industry average | 80%+ Majhi target | Per mandate |
| Quality | Offer acceptance rate | % of offers accepted | 75% industry average (VP level) | 90%+ Majhi target | Per placement |
| Quality | 90-day retention rate | % of placed candidates still in role at 90 days | 82% industry average (VP level) | 95%+ target | Quarterly |
| Quality | Hiring manager satisfaction | Post-placement NPS from HM (1–10) | Not systematically tracked in industry | 8+ target | Per placement |
| Financial | Cost per placement | Total fees divided by placements in period | 20–25% of CTC (retained) | 20–25% (at target) | Monthly |
| Financial | Cost of vacancy per open day | (Annual OTE / 252) x role impact multiplier | Rarely calculated | Calculated per mandate at intake | Per mandate |
| Financial | Recovery playbook ROI | Value of velocity improvement vs. cost of intervention | Not tracked in industry | Tracked per playbook type | Monthly |
| Financial | Placement fee vs. cost of bad hire | Retained fee vs. cost of 18-month mis-hire replacement | Mis-hire costs 2–3x annual salary | Retained fee = 20–25% of 1x CTC | Annual review |
| Financial | YTD hiring spend vs. budget | Actual vs. budgeted fees and internal costs | N/A | Actuals within 5% of budget | Monthly |
Frequently Asked Questions
Which KPI most accurately predicts search success?
Shortlist approval rate at the first presentation is the strongest leading indicator of overall mandate success. A first-shortlist approval rate above 50% almost always produces a successful close within the SLO. A first-shortlist approval rate below 30% is a strong predictor of either a brief re-run (adding 10–14 days) or mandate collapse. The Evidence Dossier framework is the primary driver of shortlist approval rate.
How do you calculate the 90-day retention rate for executive placements?
Track each placed executive at 90 days post-start date and record: still in role (success), separated voluntarily (quality issue), or separated involuntarily (fit issue or business change). Exclude involuntary separations due to company restructuring from the quality calculation. Majhi Group's 90-day replacement guarantee is supported by a retention rate target of 95%+ — meaning the guarantee is triggered in under 5% of placements.
What is the most commonly omitted KPI in executive hiring reporting?
Cost of vacancy. Most organisations track cost-per-hire (the fee paid) but not cost-of-vacancy (the business value of the seat being empty per day). For revenue-critical roles, cost-of-vacancy is typically 3–5x the placement fee over the duration of the search — making the retained fee look cheap by comparison. Omitting cost-of-vacancy from the financial reporting produces a systematically distorted view of hiring ROI.