iCIMS Talent Cloud Delivers 282% ROI

HOLMDEL, N.J., Jan. 25, 2021 /PRNewswire/ -- iCIMS, the leading talent cloud company that empowers employers to attract, engage, hire, and advance the world's best talent, today released the results of a commissioned Total Economic Impacttm (TEI) study conducted by Forrester Consulting. The customer interviews and financial analysis found that customers that deployed the iCIMS Talent Cloud could experience a three-year net present value of $3.27M, resulting in an ROI of 282%.

The iCIMS Talent Cloud is a unified, AI-powered platform that enables companies to build a diverse, winning workforce through a range of powerful recruitment software. iCIMS enables customers to anticipate business needs and accelerate talent transformation with artificial intelligence and unparalleled data and analytics. The innovative software and insights, combined with the collective experience of the global iCIMS community, delivers the transformation needed to move organizations forward.

"Talent is crucial for driving the growth of a business and the Total Economic Impact study confirms the influence and value that the iCIMS Talent Cloud has on our customers' bottom line," said Diane Fanelli, chief operating officer of iCIMS. "We're pleased to demonstrate iCIMS' ROI and are proud to support our customers with the modern solutions they require to find and hire the right people for business transformation."

Forrester conducted in-depth interviews with iCIMS customers across industry and size to develop a composite organization to quantify the benefits, costs, and risks associated with an investment in the iCIMS Talent Cloud.

Forrester's analysis showed the following benefits over a three-year time period:

• Saved $1.7M in increased productivity of hiring team.
• Avoided $1.2M in revenue loss due to open headcount.
• Reduced executive search firm costs by $1.1M.
• Saved $348k in reduced impact of compliance violations.

Customers participating in the study also saw improvement with the following metrics:

• Increased efficiency by saving three days per candidate in scheduling time for volume hiring situations where jobs need to be filled in hours versus days.
• Reduced time for a job offer to be accepted from 54 to 42 days in the first year and then down to 35 days in the second year. 
• Improved productivity by reducing average time to onboard a new hire by six days.
• Increased direct hire percentage from 80% to more than 95%, reducing the need to rely on costly agencies to fill executive roles.
• Savings of 24 hours in time to hire.
• Increased talent pipeline by 15% while increasing quality and diversity of candidates.

To learn more about the Total Economic Impact of the iCIMS Talent Cloud, download the full study here.

About iCIMS, Inc.
iCIMS is the talent cloud company that empowers organizations to attract, engage, hire, and advance the right talent that builds a diverse, winning workforce. iCIMS accelerates transformation for a community of more than 4,000 customers, including a third of the Fortune 100, that employ more than 30 million people worldwide. For more information, visit www.icims.com.

Contact:
Carlee Capawana
[email protected]
908-947-6572

SOURCE iCIMS, Inc.