Whether you’re a seed-stage startup CEO or the Head of HR for a growth-stage company, building and retaining a strong team is a north star for business success. As McKinsey notes, a better employee experience means a better bottom line. Today, founders and HR leaders are increasingly relying on software to improve human resources activities within their companies.
Since the COVID-19 pandemic, hybrid and remote work models have become the standard for startups and tech companies across Latin America. And as companies continue to invest in technology to modernize HR and people operations, the global market for human resources management is expected to reach $56 billion by 2030.
From onboarding and recruiting, to managing benefits and streamlining payroll, companies are adopting new tools and strategies to attract and retain top performers. We spoke to founders and HR leaders to come up with this list of software tools that you can use at your own company in 2023.
We spoke to Tahi Hakim, the Co-founder & CFO at Preki, a company that builds ecommerce solutions for local businesses in Latam. He says that flexible benefits solutions like Plerk are a great option for companies to show appreciation for their team members. Plerk allows companies to provide vouchers alongside normal payroll for employees to spend on perks like food delivery and entertainment.
Employees can also use their Plerk benefit to invest in their own professional development. “Some of our team members have used their Plerk rewards to buy English classes. It allows them to prepay for courses, so even if they didn't have the money up front, they can pay for it without a problem," Tahi says.
Camilo Gómez, CEO of Phylo Legal, which provides online legal services for startups, says that using technology tools has helped make recruitment and retention more efficient at his company. "We use Torre for a fast and effective onboarding process. It has decreased our talent turnover by almost 20%."
Torre matches candidates, teams and jobs using hundreds of artificial intelligence algorithms, with thousands of data points. You can easily find remote or local candidates. It also allows you to calculate the best salary for a given job opening based on skills, competency, language and location. And as a bonus, it allows you to engage the whole team with gamification actions such as videos and surveys.
Aleluya provides free and subscription-based electronic payroll transmission and social security payment services. It allows you to pay PILA in seconds and thus avoid fines. You can handle payroll with your bank without errors, integrate your payroll with +50 accounting products, generate labor certificates and reports, and send and download pay stubs, among other tasks that will make life easier for your HR team. According to the company's website, Aleluya is the only platform in Colombia with 100% automated social security.
From recruiting, to payroll, to performance reviews and professional development, Buk gives you end-to-end visibility into the biggest pieces of your HR program in one central platform. You can manage shifts, overtime and vacations across team members. Our favorite feature in the platform is the ability to provide your employees with access to different professional development courses, and create your own content to deploy to your organization.
Offering great benefits to your employees leads to increased motivation and performance. Noba makes it easy to offer your team members an innovative financial benefit: the option to receive all, or a portion of their salaries in digital dollars. Digital dollars are backed 1:1 by USD, so you are helping your team members fight inflation and grow their savings.
Businesses get access to a simple, intuitive dashboard that easily integrates into your existing payroll workflow to manage salary payments. Employees use Noba’s mobile app to decide how much of their salaries to receive in dollars. With their Noba account, they can withdraw their money anywhere, anytime, and can make transfers to their friends or family instantly. Soon they will also have access to a free credit card which they can use to easily spend their digital dollars.
