LiveHire Limited (ASX: LVH)
announced the release of its High-Volume hiring product to the market. The product involves recruiting and sourcing under tight timeframes, for many similar positions at the same time. It is often seen in various industries such as retail, hospitality, fast-moving consumer goods, call centres, logistics, and manufacturing. These requirements many times are based, as per the seasonal demands of the business. It may impact business productivity, during those critical periods of revenue generation, if such recruitment requirements are not addressed.
High volume hiring (HVH) projects usually see extremely high applicant volumes, but typically have few internal resources to handle them. In the traditional applicant tracking system, there have been cases where the employer brand and application process got negatively impacted by the candidates. This is due to impersonal email automation and upfront screening which led to many application withdrawals at the time, affecting the quality of hire, recruitment productivity and cost, turnover, and overall business growth.
LVH platform has offered a unique solution to create, and personally, engage Live Talent Pools of talent for HVH roles in advance. Therefore, now more focus can be on bringing fewer prequalified, and engaged talent through a volume-based recruitment process that is more personalized, efficient and collaborative for recruiters, hiring managers, and candidates.
Recently, the platform has gone live with LiveHire’s existing customers Vodafone and Super Retail Group. Vodafone Hutchison Australia has beyond 120 retail stores owned by company across Australia. It provides employment to circa 2,500 people at its offices in Perth, Melbourne, Brisbane etc. and has a contact centre in Hobart.
Super Retail Group is an Australian listed significant player in the HVH space in Australia with hires across four core brands: Supercheap Auto, BCF, Rebel and Macpac. It is among the top 10 Australian retailers with around 12,000 team members.
For both the clients, LiveHire technology has become the central platform for unified candidate data and hiring end-to-end. It has replaced the traditional top-tier Applicant Tracking Systems in both them with HVH functionality. This functionality is expected to be available as standard on the platform for all current and future LiveHire clients globally.
Major benefits of the HVH release incorporates features such as the capability for clients to embed integrated third-party software for gamified personality tests, cognitive tests, and skills assessments into the LiveHire application process. Recruiters can now manage the entire Checks and Assessments process without leaving the LiveHire Platform, improving the overall user experience. It gets easily synchronized with SAP HCM data including cost centres, positions, and locations within the organization, and most importantly the ability to create standard Job Templates for all roles. So, hiring managers can quickly raise requisitions for new hires, with the platform auto-populating details including Job Description, YouTube videos, attachments, workflow templates, communication templates, screening questions, video interviews, etc., saving significant time to all hiring manager across the business.
On stock performance information front, LiveHire’s share last traded at A$0.625 down by 1.108% (as on March 21, 2019) with the market capitalization of ~A$170.89 Mn. Today, it made day’s high at A$0.64 and day’s low at A$0.625 with daily volume of 139,635. Its 52 weeks high was at A$0.975 and 52-weeks low at A$0.3 with an average volume of 270,708. Its absolute return for 1 year, 6 months, and 3 months are -31.25%, 12.95%, and 15% respectively.
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