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OpenComp Minimizes ‘Rogue Recruiting’ with New Intelligent Offers Solution

Sep 15, 2022 8:47:54 AM | By

Powered by predictive insights, Intelligent Offers empowers HR, recruiters and managers to optimize offers for candidate acceptance while adhering to budget

SAN FRANCISCO--(BUSINESS WIRE)--Closing top candidates in today’s hot labor market often causes recruiters and hiring managers to make independent pay decisions that misalign with their employer’s compensation plan — or “rogue recruiting.” To help employers more quickly close first-choice candidates while complying with foundational compensation programs, today compensation intelligence provider OpenComp released Intelligent Offers. The new solution empowers HR, recruiters and managers to activate on-policy offers that are optimized for candidate acceptance — with predictive insights at the point of every hiring decision.

“Intelligent Offers takes the guesswork and roadblocks out of every hire, guaranteeing that each offer is designed for peak acceptance, while safeguarding corporate financial health.”

Powered by predictive intelligence, OpenComp’s Intelligent Offers increases the likelihood that candidates will accept offers; automatically confirms that offers align with pay bands set within OpenComp’s Compensation Intelligence Platform; and routes approvals to appropriate parties via pre-set workflows. With Intelligent Offers, every hiring manager and recruiter can accurately activate compensation policies in the field for the first time.

“Even if HR develops the best compensation plan for their businesses, recruiters and hiring managers still inadvertently go rogue because they lack readily available insights. This status quo unwittingly perpetuates pay inequities and compromises organizations’ financial future,” said Thanh Nguyen, CEO and co-founder of OpenComp. “Intelligent Offers takes the guesswork and roadblocks out of every hire, guaranteeing that each offer is designed for peak acceptance, while safeguarding corporate financial health.”

To unleash Intelligent Offers, HR leaders can simply default to using benchmarks generated by the platform’s real-time, AI-powered market analysis. They can also design pay ranges within OpenComp’s Compensation Intelligence Platform or upload their existing pay bands. After HR leaders appoint automated approval stakeholders and workflows, recruiters and hiring managers begin crafting offers that are approved and accepted in a few clicks, receiving predictive insights at the point of every decision.

New features within Intelligent Offers include:

  • Predictive Insights: determine likelihood of offer acceptance, and view historical offers that were accepted and rejected.
  • Pay Range Compliance: empower recruiters and managers to craft offers that meet pay band requirements, automatically flag out-of-range offers, and operationalize the company’s DEI commitments.
  • Range Builder and Benchmarking Integration: surface the most up-to-date pay policies with all stakeholders at unique points of decision.
  • Intelligent Offer Letter: auto-generate competitive & equitable offer letters, streamline approvals, and send offers to candidates the moment they are approved.

To sign up, please visit http://www.opencomp.com. Parties interested in partnership opportunities may visit https://www.opencomp.com/partnerships.

About OpenComp

Thousands of employers and employees use OpenComp to make the smartest compensation decisions quickly, easily, and confidently. With OpenComp’s Compensation Intelligence Platform, they design and activate the very best compensation plans with real-time market analysis, performance data, and insights that guide every decision and action — streamlining compensation administration, paying fairly & consistently, and attracting, keeping, and empowering top talent. Together, they’re pioneering a new standard for compensation.

Founded in 2021 by Salesforce’s founding HR team, OpenComp has raised $24 million from J.P. Morgan, TIME Ventures (the investment fund for Marc Benioff), 8VC and more. OpenComp is available for free at www.opencomp.com, with tiered pricing and services based on organization size and need.

 

Contacts

Heather Sliwinski

Changemaker Communications for OpenComp

heather@changemakercomms.com 

 

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