This involves a little bit of the culling workflow.. for the long answer.
But likewise I do not convert all images,. not by a long shot.
First is the cull,. toss out the obvious carp.
then start looking for the obvious keepers and flag them.
Of those I convert only those that I have an immediate desire to Proces,. either for uploading and sharing,. or for printing.
There's allways a large percentage of "middle gorund" images,. not garbage,. but not the cream of the crop either. These usually never get converted,. and sit on the harddrive as unprocessed RAW for at least a year before I may cull them again (allready archived to DVD though) Sometime I find a hidden Gem amongst this pile of otherwsie averedge stuff.
ANY images I process,. gets the full monty as if for printing,. and then from that Tiff I will create a small reduced jpeg to upload. As many mey notice,. this process does not allways produce the best web image,. but I'm not too concerned,. it's the prints that make the money 
So in short perhaps 10-25% of the RAW files I shoot at a given time ever get converted,. and they only get that treatment when and if I actually intend to display/use them for something.