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iCIMS' New Product: Industry’s First End-to-End Offer Letter Management Solution

iCIMS Staff
August 23, 2018

Today organizations recognize how critical recruitment is to business success. In fact, according to a survey of CEOs by PWC, technology and talent are CEOs’ top two business priorities.

However, nearly every employer uses either multiple systems or a manual process to create, approve, extend and track personalized job offers. As a result, the all-important final stage of the hiring process is costly, complex and employers run the risk of losing critical candidates.

To help reduce those complexities iCIMS is launching iCIMS Offer, an end-to-end offer management solution. iCIMS Offer enables employers to create a repeatable, consistent process around managing offer letters to reduce compliance risks, create efficiency and deliver a seamless experience for candidates.

The Negative Impacts of an Inefficient Offer Process

A significant investment in both time and money is made in finding the right hire, and losing your best candidate is a huge loss for your company. A CEB survey of 900 recruiters and 6,000 hiring managers found that the average time to fill for employers increased by 50 percent from 2010. They also found that the average vacancy costs $500 per position per day, a loss of $22,000 per position over the average period of 44 days.

After all the effort you’ve put into sourcing and building relationships with candidates, you don’t want to lose them at the all-important final offer stage.

iCIMS Offer, the newest addition to the iCIMS Talent Acquisition Suite, is a true end-to-end offer management solution designed to address the specific pain points involved in managing offers. As a streamlined and automated offer letter process, iCIMS Offer brings together all your recruitment tools under the same roof, so that you’re acquiring top talent as efficiently as possible.

Avoid Compliance Issues

By using separate word documents and files that are manually updated for each new hire, recruiters’ can easily forget to update key details like a candidate’s name and salary, or send the wrong template or clause to the candidate. These mistakes lead to compliance risks for your company.

With iCIMS Offer, you avoid these compliance risks because our product enables you to create and manage all their offer letter templates, launch offers and track their statuses within one system.

By simplifying and automating templates and clause management processes you can decrease your recruiting team’s need to maintain and manipulate data manually, reducing errors and compliance risks.

Don’t Lose Top Talent to Faster Offers from Competitors

Using iCIMS Offer increases your company’s speed to hire. Manual offer letter processes usually begin with outdated templates and rely on printers and scanners to officiate offers, elongating the recruiting process altogether. Essentially, job offer letters that are not distributed fast enough extend the length of the recruiting process, making it less likely for candidates to transition into new hires.

Since Offer is a part of the broader iCIMS Talent Acquisition Suite, automation is emphasized within your recruiting workflows to save your recruiting team time and get job offers out to candidates, faster. iCIMS Offer enables you to have a consistent user interface for recruiting teams, reducing the need to train and learn a new product due to easy copy and paste capabilities, and improves collaboration with hiring managers. With a e-signature integration, Offer also enables you to generate a link for the candidate to quickly click and e-sign within the offer letter.

Protect Your Employer Brand & Look Professional

More than two-thirds (67 percent) of employed Americans agree that the application, interview or offer process would make or break their decision on whether to take a job. If candidates receive offer letters that do not look professional, are not branded or contain mistakes and formatting issues, they may reconsider their decision to join the company. With iCIMS Offer, employers can easily control the professionalism of your job offer letters and deliver a truly seamless, fast and professional experience for anyone involved in the offer process – at scale.

Finish Your Recruiting Process Strong

At the end of the day, if your offer letter process is not as efficient, quick and professional as it should be, you will lose top talent to competitors. And that’s where iCIMS comes in. iCIMS Offer will help you show a candidate they made the right decision signing with your organization.

Learn more about the features and benefits of iCIMS Offer.

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