The most-read stories on Shortlist over the past week have included: Our new podcast series launches; Planning the return to BAU; and results from GO2 People, Tempo, and more.
Shortlist has launched a new podcast featuring interviews with top recruitment leaders.
Season one will focus on recruitment leadership during the COVID-19 downturn, and provide a behind-the-scenes look at the conversations that shape Shortlist's articles.
In the first episode, Chandler Macleod Group CEO Peter Acheson discusses the impact of COVID-19 on various areas of the business, and its three-stage plan to weather the crisis. (A portion of the interview is reported here).
Vas shares his insights on how this downturn will permanently alter recruitment; the challenges internal recruitment functions face in a down market; and what differentiates the recruiters who stay relevant and valued. (A portion of that interview is reported here.)
The third episode of Shortlist's interview podcast features Talent APAC CEO Mark Nielsen outlining his strategies to retain and motivate employees during the downturn.
- Talent's key objectives during the crisis and its planning process;
- Why leaders are "taking the hit" while recruiters "up their cadence";
- Removing the "fear factor" at work;
- COVID-19's business impact so far; and
- Long-term sustainability and purpose.
A portion of the interview is reported here.
The Federal Government has released a planning toolkit to support employers to return to 'business as usual' by July.
Under the three-step framework for a COVIDSafe Australia, restrictions will be eased gradually with all steps planned to be implemented by July, but each state and territory will decide on its own timing.
Step one and two of the Federal plan call for employees to "continue to work from home if it works for you and your employer", and to "avoid public transport in peak hour".
Employers are also required to develop a 'COVIDSafe plan' for their workplace, and the Government has published a 14-page toolkit to assist with this.
It covers three key areas:
- Keeping people safe;
- Adapting the business; and
- Accessing support and assistance.
Quarterly cash flow: GO2 People, Tempo, and more
Net operating cash flow was $728k (the company notes it reported positive cash flow for two consecutive quarters for the first time since listing) and the business held $775k in cash and equivalents at the end of the quarter.
Project management and labour hire company Tempo Services (ASX:TPP), now required to report cash flow under the ASX listing rules, has reported $13.1m incoming cash for the quarter, with $846k cash outflow and $6m cash at hand for the three months to March.
Recruitment platform ApplyDirect (ASX:AD1) has reported cash receipts of $854k for the quarter. Net cash outflow reduced by $619k to $76k (a 32% improvement) on the December quarter, helped by a $400k R&D refund, while cash at hand was $240k.
Payroll and HR outsourcing business PayGroup (ASX:PYG) reported $4.4m in customer receipts for the three months to March, up 143% on the December quarter, with a strong first full quarter contribution from Astute (acquired in September 2019), with net cash flow of $1.8m and $2m in cash and equivalents.
Contractor workforce platform Nvoi (ASX:NVO) has reported cash receipts of $10k, with net cash outflow of $589k, and it held $4.5m in cash and equivalents at the end of the quarter. The company says $15k revenue was generated under its partnership with CareerOne. Meanwhile Nvoi has delayed rolling out its new self-serve candidate sourcing platform due to COVID-19.
Recruitment analytics provider Gooroo (ASX:GOO) reports customer receipts of $47k for the quarter, net cash outflow of $376k and $270k in cash and equivalents.