Xref (ASX:XF1) says the new “Xref Enterprise” platform will offer, in addition to reference checking, Pulse Surveys that allow HR teams to continuously survey and measure employee satisfaction, and Exit Surveys to gather organisational metrics, derive an employee NPS, and build a talent pipeline of returning employees.

According to Xref, the Enterprise” platform is designed to build an organisation’s corporate memory through data collection of a wide variety of critical candidate and employee metrics, “which in turn will help the organisation improve its attractiveness to employees, better compete for talent, expand talent pipelines, and speed up hiring processes”.

Xref says the platform is fully customer-branded, multi-organisational, multi-language, and self-service, and its key features include single sign on (SSO) and applicant tracking system (ATS) integrations, a custom survey builder, advanced analytics, and custom SMS and email options.

According to Xref, the move to an enterprise SaaS platform will also shift its global business model away from being solely usage-based, which will allow the company to “decouple revenue recognition from recruiting trends, and increase its addressable market ten fold through the addition of solutions outside of pre-employment”.

Lee-Martin Seymour, Xref co-founder & CEO, said: “Talent is on the move. The competition for talent is one of the biggest challenges facing employers right now - many employees who previously might have stayed in ‘safe’ roles are now on the hunt for better opportunities.

“Employers must have the right processes in place to make confident hiring decisions rapidly and accurately if they wish to hire and retain the best talent. The shortage of available candidates plaguing almost every industry urgently calls for products that significantly expand an organisation’s talent pool.

“As an example, in such a market, the best source of new employees may actually be former employees, or the many qualified candidates who didn’t get through during previous hiring rounds. Extracting quality candidates from these extra talent pools is exactly what our new Xref Enterprise platform will help innovative organisations do.”

Xref announced that staged release of the enhanced new platform features will continue throughout FY2023, and said that notable brands already using Xref to improve their recruiting and retention in current challenging conditions include “Westpac, KPMG, Qantas, EY, Etsy, Tafe NSW, Rabobank, Air New Zealand, Uniqlo, and hundreds more”.

“Over the past 12 months, 1.3m new users engaged on the platform across 195 countries, making it one of the few truly global listed Australian software companies,”concluded Xref.