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What Is a Business Offer Letter?
A business offer letter is a type of formal letter in business that details what newly hired candidates should know about their business position, job schedule, terms and conditions, and basically the entire job introduction. This letter is written by human resources and the document must be packed with critical details about a business or job offer. Then, the job applicant who receives the letter is expected to reply on whether to accept or decline the offer.
Did you know that there are over 32.5 million small businesses in America?
Why Are Business Offer Letters Important?
A business offer letter is the end product of a job hiring process because it serves as a proposal given to top-performing candidates whom the business wants to consider hiring. The best part is that there are still so many reasons why such a letter is important, and these are some striking details to know about the significance of business offer letters:
Detailed Document as a Whole
A business offer letter is a detailed letter that houses crucial data about what candidates who got accepted should know about their job and the business. That means the applicants who are now hired, if they agree with the offer, would learn about the business operating hours, the duties or responsibilities, the job title, base salary, agreements, and other key terms. The business offer letter should make it to the point where there would be fewer questions asked about the said offer.
Room for Negotiations
Bear in mind that the written business offer is an essential type of document for negotiation purposes too. In case a candidate disagrees with the benefits or base salary written in the business offer letter, the said candidate can negotiate and respond with a counter offer or negotiation letter instead. It is only when the candidate signs the business offer letter that she/he/they accept all the terms in the document without reservations.
Reference Docs for Both Businesses and Applicants
Business offer letters are helpful as reference sheets to both human resources and applicants. First, human resources or anyone from the business can refer to the letter to review if everything written is correct such as the base salary amount, working schedule, and other details. Meanwhile, applicants can view the letter anytime to be reminded about their tasks and responsibilities instead of being clueless about what to expect at work.
Right to Business Information
The request for information in the field of business is essential and that is just what business offer letters respect. A business offer letter will clearly state the position, salary, tasks, and other details a candidate should be aware of regardless of what the candidate’s position is. Whether the applicant is taking a high-ranking position or even a low-ranking job title, the business offer letter will be as transparent as possible about the whole business offer.
Professional Way of Saying “You’re Hired”
Think of a business offer letter as a formal acceptance letter or job proposal, meaning it leaves an impression that the candidate is basically hired. With so many small businesses out there—32.5 million small businesses in the US, for example, that means the world of business is very competitive that professionals may come and go anytime. Be sure to provide a well-written business offer letter to notify deserving candidates that you want them to be part of your business so they will feel welcome.
The Basic Inclusions of a Business Offer Letter
Indeed, a business offer letter is detailed but it doesn’t mean it is a document with clashing and overloaded information; it must be organized. To make sure you are onboard with the right set of details on what to write in a business offer letter, take note of these standard inclusions:
How to Draft a Business Offer Letter
After that long, detailed discussion about the business offer letter’s meaning, significance, and inclusions, you are definitely ready to create the business offer letter itself. Make a business offer letter in the most efficient and effective way possible by observing these basic steps:
Step 1: Determine Your Purpose
Remember that business offer letters can mean two things. One reason is to make a business offer letter to accept a job applicant to work in your business while the other reason is to come up with a business offer letter sent to a client so that the client would fund the elaborate business plan you are proposing. Clarify your purpose carefully so that the context of your business offer letter goes according to plan.
Step 2: Leverage a Sample Template
Who needs to work on a business offer letter from scratch when there are premade business offer letter samples available already? Simply choose from any of the sample business offer letter templates in this post and edit your preferred template. Then, personalize the format, content, and layout to make it original, and most importantly, make sure the details inside the template are now what you need to say in the letter.
Step 3: Write in a Business Letter Format
The business letter format means you still input the standard letter parts such as the subject, date, salutation, body, complimentary close, and name/signature in the letter. But what makes it different from a personal letter is that you write in a professional and straightforward manner. Refrain from using flowery words and unnecessary messages because the business offer letter should focus on the goal, which is to explain the whole business offer.
Step 4: Set the Must-Have Inclusions
Remember the standard inclusions of a business offer letter that were discussed earlier? Track if you have the company letterhead down to the candidate’s name/signature on your business offer letter because those are what completes a business offer letter in the first place. You can even customize the document by adding more relevant inclusions besides the standard elements given before.
Step 5: Add the Final Touches and Submit the Document
Lastly, do the final changes to your business offer letter template and decide how the output should be. Do you want to produce a printed business offer letter or send it as a business offer letter email instead? Also, send the document to the recipient as soon as possible before a candidate may change one’s mind and reject the business offer.
What are the parts of a business offer letter?
According to the Society of Human Resource Management (SHRM), the important topics to discuss in a business offer letter are the title/position, name/s of supervisor or management, schedule, exempt/non-exempt classification, duties, equity, bonus/commission, base salary, benefits, policies, employment agreement, confidentiality agreement, and contingency.
Is a business offer letter a contract?
A business offer letter isn’t a legally binding contract because it only serves as an introduction to the business offer; a candidate will still need a business offer agreement or contract to sign after signing the letter.
Do businesses need to verify offer letters?
Yes, businesses must verify offer letters because fake letters are a big no-no in any industry.
Business offer letters can’t be overlooked in the field of business and job hiring even if you have verbally shared the offer already. Written outputs are the key to documenting a candidate’s acceptance of the business, especially when the letter itself can be used as proof of the business offer for various purposes. In fact, you won’t need to make this business document from scratch because all you need is to optimize free sample business offer letter templates.