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Xref has been named a Most Innovative Company by The Australian Financial Review BOSS Magazine for 2022, in an awards ceremony overnight.
The prestigious annual list is based on a rigorous assessment process.
As a global HR tech leader, Xref is honoured to rank on the Technology industry list, from over 700 nominated organisations across Australia and New Zealand.
Recognised for our Exit Survey innovation, Xref identified a need for HR professionals to capture feedback from departing employees.
Xref automated solutions targeted to the niche needs of the HR industry. With an Xref Exit Survey, an organisation can learn why an employee is leaving which in turn can help reduce attrition and improve retention.
Our Exit Surveys provide an automated solution for HR teams to collect feedback from a departing employee, whilst simultaneously building a talent pool of previous employees for potential rehire.
When the results of the award were revealed, Xref CEO, Lee-Martin Seymour said, “Having been identified as one of the Most Innovative Companies for our Exit Survey Platform demonstrates our focus on delivering to the employment sector at a time of global change.
The Exit Survey Platform brings meaningful insights from ex-employees and has identified that at least 20% of all ex-employees would return to their previous organisation, a vital statistic companies compete for talent."
Read more here to see the full list of technology innovations and other award-winning solutions.
During COVID-19, many organisations laid off employees quickly without seeking feedback. Manually conducting exit interviews takes time and resources, meaning added costs. Easy data analysis for future improvement is made challenging.
In 2021, NAB found 20% of Australians changed jobs and 25% were considering making a change in 2022. The Great Resignation is seeing an increasing number of exit interviews being conducted by recruiters and human resources teams. This leads to more time and money spent on hiring, reducing productivity.
The assessment for each innovation is based on Inventium's Innovation Framework which comprises the nine elements shown to drive innovation, namely:
Sally Patten, Editor of BOSS Magazine said,
"It is so encouraging to see Australian entrepreneurs and intrapreneurs continuing to come up with fresh ideas and executing them. Innovations such as those highlighted in the 2022 AFR BOSS Most Innovative Companies list should help to propel our economy."
The AFR BOSS Most Innovative Companies list (previously the BRW Most Innovative Companies list) is now in its eleventh year. The list ranks the most innovative organisations in Australia and New Zealand, by industry, and is the only national list of its kind.
The list is judged and compiled by Inventium – Australia’s leading behavioural science consultancy. Inventium applies the latest scientific findings from psychology, cognitive science, and behavioural science to help people innovate, adapt, focus and thrive in a world where the only constant is change.
Inventium is the official methodology partner of the AFR Most Innovative Companies list and the AFR Best Places to Work List. Inventium is also a proud BCorporation.
For more than 50 years The Australian Financial Review has been the authority on business, finance and investment news in Australia. It has a reputation for independent, award-winning journalism and is essential reading for Australia’s business and investor community.
The Australian Financial Review is owned by Nine, a leading multi-platform media company in Australasia.