Hiremii prepares to revolutionise recruitment by taking it into the digital age

Hiremii Limited (ASX:HMI) is ready to revolutionise the recruitment world following its ASX debut and a subsequent strategic executive hire. The technology-driven labour hire and recruitment company only floated on the ASX last month, but it’s already engaged a recruitment specialist to execute its business strategy. Ultimately, Hiremii is focused on serving Australia’s $40.7 billion recruitment and labour hire market as a public company, targeting a market that includes 18,400 businesses down under. New COO at the helm To further its growth and business strategy, Hiremii recently decided to strengthen its business management team with a new executive hire. On May 27, the ASX-lister appointed Andrew Stone as its chief operating officer (COO). Stone, a recruiting specialist with more than 25 years of experience, has worked in technical and trade markets across Europe, the Middle East, Australia and South-East Asia. The new COO also brings experience as an industrial consultant and a regional and operations manager. He’s served in a suite of major project recruitment positions across the automotive, aerospace, oil & gas, mining, power and infrastructure industries. Commenting on Andrew’s appointment, Hiremii CEO Christopher Brophy said he was thrilled to welcome the new COO to the team. “The experience and networks [Andrew] brings to the company, many of which are recruitment sector-specific, form the first step in our geographical expansion into Victoria and New South Wales and the establishment of enhanced customer support and operational functions.” ASX debut Interestingly, Andrew’s appointment comes just weeks after Hiremii listed on the ASX. The labour hire company finalised an oversubscribed initial public offering (IPO) in mid-May, raising $6 million to list on the ASX under the ticker code HMI. Investors could buy in at 20 cents per share, with Sandton Capital Advisory and Cadmon Advisory acting as joint lead managers to the IPO. The company made its ASX debut on May 11, closing at 14.5 cents per share on its first day of trade. Speaking about the IPO at the time, Brophy said: “Our successful IPO will provide us with the capital we need to aggressively progress our growth strategy as we further refine our technology platform and expand our team. “I’d like to take this opportunity to thank the board, our shareholders, lead managers and everyone at Hiremii for making this listing possible. We look forward to continuing our growth via a range of planned initiatives.” Hiremii’s financials Even though it’s new to the local share market, Hiremii has a track record of financial success and capital management. At the end of 2018’s financial year, Hiremii recorded $73,246 in sales revenue and onboarded two clients. By the end of FY20, however, the company tabled more than $6 million in sales revenue and boasted 31 clients. The business has now overseen more than 110 labour hire deployments, compared to just two in FY18. Hiremii’s enterprise value has also vastly improved, growing from just $2.5 million at the end of FY18 to $7.7 million at the company’s IPO. The ASX-lister chalks its growing success up to its hiring solution, which aims to simplify traditional recruitment processes and make them more transparent. The Hiremii solution Hiremii’s main business is split into two key channels. The first component is a namesake recruitment platform, available to hiring managers at a fixed fee. The second is known as Oncontractor — a recruitment solution that feeds off the Hiremii platform and provides digital tools to complete an employee’s onboarding. Oncontractor also helps clients access payroll management services and manage entitlements like leave and superannuation payouts. Both platforms utilise cloud software, artificial intelligence and machine learning to manage the often tedious tasks associated with the recruitment process, such as completing the vetting and shortlisting processes involved with new recruits. Just one month on from its ASX debut, Hiremii has rallied expertise to bring its tech-driven hiring solution to the recruitment industry. The business is eager to shake up the hiring space with an easy-to-use, transparent and economic platform that works for recruiters and jobseekers alike With an $8.66 million market capitalisation, the ASX-listed technology business is primed for stellar growth in a sector that continues to innovate the way we live, work and play.