OpenOffers, an enterprise Saas platform, today announced that more than 310 Indian enterprises have signed up with its platform to address the problem of candidates backing out from their commitments last minute. Ghosting by candidates not only results in direct losses to the companies but also affects the topline. A no-show on the joining date leaves a company with no choice but to start the recruitment process all over again.
In the last few months, there has been a public outcry over moonlighting, candidates backing out at the last minute from their commitment to join, and candidates absconding. Industry leaders across sectors, influencers from corporates and startups have insisted and urged for solutions to this contemporary issue in hiring. OpenOffers, a Commitment Intelligence Platform, addresses this problem. The platform is the hiring equivalent of the CIBIL score, which is widely used for processing loans in India.
“The positive response and acceptance of OpenOffers from enterprises of all sizes in India is a validation of our idea. We aim to challenge the status quo in the recruitment industry with OpenOffers and will keep innovating until we have established transparency, authenticity and trust in hiring for companies and candidates alike,” said Ayushi Rungta, Founder & CEO, OpenOffers
“We believe that it’s fair for employers to know it in time when a candidate is unlikely to respect their commitments. Every other industry went through such a collaboration, take the example of banking and how it came up with CIBIL,” she added. OpenOffers is a collaborative platform for enterprise recruiters to drive higher levels of commitment. It provides recruiters with timely visibility to candidates who are likely to back out from their commitments to join. In addition to intelligence on offer backouts, OpenOffers also brings forth insights into candidates absconding post joining and moonlighting by joining multiple companies. To candidates, OpenOffers enables a better way to negotiate the best offer.
OpenOffers tracks a candidate’s journey from the day they accept a job offer until either they back out or join the company and thereafter for at least three months. During this period, candidates are likely to give out multiple conflicting commitments. OpenOffers gathers all these conflicting commitment signals on a single timeline anonymously across the respective companies. This helps recruiters know in time whether the candidate is likely to join or back out or has already joined somewhere else. OpenOffers computes candidate ghosting score and joining propensity based on the commitment signals given to different companies, just like CIBIL score for loans. OpenOffers is building a network of enterprises so that they can share these commitment signals anonymously with each other. So far, 2000+ candidate commitments have been mapped on this consent-based platform by companies that have signed up for OpenOffers.
“Demand for quality talent is outstripping supply; specifically, niche skilled professionals are hard to get. Most of them would have multiple offers. This is commoditizing the overall recruitment and is a business risk for companies. Multiple offers are less of a problem, but non-clarity in decision-making is a concern. We hope to bring higher levels of transparency in the overall hiring and recruitment process. We believe that candidates, as well as companies, will be driven to make clearer choices promptly, consciously and subconsciously due to the presence of OpenOffers,” said Vishal Chaudhari, Co-Founder and Head of Growth, Marketing and Sales, OpenOffers.
Launched in April 2022, by HR practitioner and startup industry veterans Ayushi Rungta, Vishal Chaudhari and Vashistha Aggarwal, OpenOffers aims to bring about a cultural transformation in hiring. Ayushi Rungta is the Founder and the CEO of OpenOffers and has nearly a decade of experience in the recruitment industry. Vishal Chaudhari heads growth marketing and business development functions in the company. In a career spanning 20 years, Vishal has helped scale-up multiple tech startups, including Uniken, Vizury, and Insignytics. Before OpenOffers, Vishal was featured in Sharktank India Season 1, wherein his startup was funded by 3 sharks including Peyush Bansal, Vinita Singh and Gazhal Alagh. Vashistha Aggarwal is the CTO of OpenOffers, an IIT Delhi graduate and has over 12 years of hands-on full-stack technology product development experience.
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