CVCheck Leveraging Artificial Intelligence For Effective Hiring

Information Technology company, CV Check Ltd (ASX:CV1), established in 2004, operates a world-class online platform-as-a-service business that provides people screening and verification services to clients spanning from corporates, small and medium enterprises (SMEs), to individual consumers worldwide. Over the years, CVCheck has constantly introduced new upgrades it its technology platform based on the feedback received and advancement of technology, which helps in optimising client satisfaction while keeping the services relevant in an ever-evolving world.

Following are the Comprehensive Suite of Checks offered by CVCheck.

• Criminal History Checks
• Employment Reference Checks
• Employment and Qualification Checks
• Credit Financial and Business Checks
• Traffic Checks
• Predictive Psychometric Assessments
• International Checks

More on these checks may be READ here in detail.

Advent of HR analytics and Modern Resumes

In today’s modern world, business critical data is swiftly expanding, and organisations are leveraging that data through artificial intelligence (AI) to make smarter and efficient hiring decisions for the workplace. Moreover, the age of paper-based resume is over. In a data driven era where digital transformation is sweeping across the world, the job seekers in the twenty first century are well aware of the power of technology and harnessing the same to be relevant online. Thus, recruiters are also navigating through this modern world of hiring by following a candidate’s digital footprint and exploring their skills and capabilities online.

At this backdrop, HR analytics is largely assisting companies to find the right talent. For an organisation to be successful, the key is to make well informed decisions. HR analytics is also referred to as people analytics, workforce analytics and talent analytics utilising statistics and large data sets taken from HR systems (payroll, recruitment management platforms and satisfaction surveys, for example) to analyse different HR metrics.

The analysis produces insights that can immensely help a company implement more targeted and effective training programs, predict future staffing needs, improve the quality of new hires, and build higher-performing teams.

Thus, thorough checks related to Resume and qualifications are an indispensable part of the modern recruitment process, implying that job seekers cannot risk any misrepresentation in their applications.posted. This has also promoted a lot of transparency in how the candidates present their information as they are well aware that they would be caught in case of dishonest or misleading information.

With such efficient background screening services in place, the chance of an unqualified applicant slipping through the cracks and going undetected is very slim.

Most Valuable Data and Organisational Goals

Different organisations have different priorities when it comes to deciding which data to leverage for improving their hiring practices. Conventionally, the companies typically scan through a candidate’s work history which has been the focal point for assessing his/her suitability. Other key data points include –

However, with globalisation spurring across the countries, the potential candidates may include national as well as international candidates, which makes it very tedious for companies to gather data points from a variety of sources.

The different employee verification checks being offered by CVCheck come as a rescue for large and small companies to heavily save time and achieve reliable results in this regard along with reducing the money spent on screening applications and extensively interviewing jobseekers. While, CVCheck ensures that its clients make informed organisational and hiring decisions, the companies may direct their focus on other activities and objectives like driving the growth of the company, enhancing the financial strength and building career growth opportunities for the employees. With its locally based team and global coverage of operations, the company is faring well in providing the background checks in demand.

HR analytics is empowering businesses to better align their human resources KPIs (Key Performance Indicators) with their strategic business goals. However, for this to effectively happen, organisations also need to understand and articulate their expectations of individuals, critical challenges, and what their capability framework might be, for which again technology can be used.

In addition, workforce analytics can also help companies to identify what they are actually recruiting for and which are the hard-to-develop capabilities. Based on this understanding, companies can make the most of the data available, to pick out the best individual qualities for the job in question.

CVCheck recently delivered a record revenue quarter ended 30 September 2019 (Q1 FY20), primarily owing to its progressively well performing B2B segment.

Stock Performance

CVCheck Limited has a market capitalisation of around AUD 37.99 million with approximately 292.2 million shares outstanding. On 16 October 2019, the stock of the company was trading at AUD 0.130.

CVCheck has delivered impressive positive returns over the last few months including 160% Year-to-date, 35.42% in the last six months, and 4% in the past five days.

Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is sponsored but NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. We are neither licensed nor qualified to provide investment advice through this platform.