Originally Posted on September 24, 2020
Last Update on September 24, 2020
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Business idea “OfferCloser”: Boost Job Offer Acceptance.

Problem

After successful final interviews, hiring managers want to onboard candidates as soon as possible.

But it takes time and resources to do background checks, reference checks, and other onboarding requirements while also keeping candidates motivated to sign the offer.

Solution

OfferCloser is an outsourcing solution to take care of the process between final interviews and employee onboarding.

Once it gets requests, OfferCloser contacts candidates to obtain required documents, explains job offers & comps, and encourages them to sign the offer.

Opportunity

About 1 in 5 job offers (17%) gets rejected due to other job offers, compensation mismatch, counteroffers, etc. [1]

This is a big loss for companies but big opportunities for OfferCloser. By improving the offer acceptance rate & saving the operational cost, it could attract clients.

Business Model

It can make money either through result-based fees (e.g. if candidates signed the offer, pay $500) or monthly subscriptions (e.g. takes care of all the process for $5000/mo).

[1] https://www.jobvite.com/jobvite-news-and-reports/2017-recruiting-funnel-benchmark-report-now-available/ 

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