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How a mortgage lender uses the iCIMS Talent Cloud to create a hiring process capable of fueling its rapid growth.
Paramount Residential Mortgage Group (PRMG) focuses on providing home loans to underserved communities. Since opening its doors in 2001, PRMG’s team has grown to more than 2,700 employees at 250 locations across the United States.
PRMG’s previous applicant tracking system (ATS) wasn’t built for scale, creating challenges and inefficiencies throughout the hiring process. Branch managers tracked candidates in spreadsheets, wrote job offers in Microsoft Word, and manually reported what little data they could.
Growing quickly, PRMG needed an ATS—supported by a talent acquisition platform—that could keep up with its need for talent by making hiring easier and more efficient.
PRMG leveraged the iCIMS Talent Cloud to streamline its hiring process and reporting capabilities. As a result, automated resume parsing reduced application time from 45 minutes to just 5 minutes, greatly increasing the number of qualified candidates.
PRMG’s core HR team uses the iCIMS Talent Cloud to onboard new hires, track key milestones, and text updates to candidates throughout the process. All new hire data is transferred into Microsoft Dynamics GP, the company’s accounting and ERP.
We were averaging about 125 hires per month before the pandemic. That grew to 250 new hires per month overnight with the pandemic and the mortgage rate collapse. Had we not implemented the iCIMS Talent Cloud, I don’t know how we would have handled that.
Director of Human Resources, PRMG
PRMG hires for a variety of positions, but its most complex sales and business-to-business account executives are the most challenging roles to fill. These are licensed positions, meaning they don’t make a set hourly wage or salary. Job terms include a variety of guarantees, performance goals, earning tiers, and bonuses.
Before moving to the iCIMS Talent Cloud, hiring managers individually wrote job offers in Microsoft Word, a process that took 45 minutes to an hour for each offer letter and left room for error.
Now, hiring managers fill out the details of the job offer and choose a template. Candidate details and terms are populated automatically. The offer then moves to approvals, which is also automated, before its sent to candidates. The entire process takes between 5 and 10 minutes.
With iCIMS ATS, we’ve eliminated most of our manual tasks. We sit back and watch the system track our applicants for us.
Director of Human Resources, PRMG