TechPression

Tag: HR

  • Workpay raises $5M to upgrade HR and payroll solutions in Africa

    Workpay raises $5M to upgrade HR and payroll solutions in Africa

    Workpay, a Kenyan HR and payroll startup, raised $5 million in a series A funding round led by Norrsken22, a pan-African venture capital company. Global payments giant Visa also participated in the round.

    The round included current investors Y Combinator, Saviu Ventures, Axian, Plug & Play, Verod-Kepple Africa Ventures, and Acadian Ventures.

    With this investment, Workpay plans to grow its operations and improve its platform, which manages payroll, HR, and employee benefits for African businesses.

    Read also: TSION unveils innovative strategies to boost business growth

    Expanding Horizons: How Workpay Plans to Innovate 

    Paul Kimani, CEO of the company, said the new funding will be used to expand its financial services offering (exploring new products to improve how employers and employees interact with salaries), improve its performance management tools with AI to help businesses manage their teams, and grow its workforce.

    According to him, Customers’ changing needs have led us to extend from payroll to full-stack HR. We may also add financial services to our HR services. Since we pay firms’ employees, we can now offer medical and auto insurance and partner with providers for loans, savings, and investing. We can address our customers’ and workers’ needs with a more complete solution.

    Notably, Kimani, who co-founded Workpay with Jackson Kungu (COO), sees a significant opportunity for market leadership in Africa, having built the tech and non-tech infrastructure to enable it to scale

    We have connected with almost every company that handles funds to send money to as many African countries as possible. Being non-tech means that we have a presence in these countries and work with partners who help us follow the rules, which is very important, he said.

    Read also: IHS Nigeria and UNICEF launch a digital impact initiative

    About Workpay

    Since its founding in 2019, Paul Kimani’s HR and payroll business, Workpay, has increased. Cloud-based payroll, HR administration, compliance, and employee benefits applications help businesses across Africa streamline their procedures. Workpay has helped over 700 firms and processed over $200 million in payroll since 2021, growing its income and customer base yearly.

    After raising $2.7 million in a pre-Series A round last year, the company said it would use the latest round of funding to start doing business in 40 countries. Investments from well-known backers, such as Y Combinator and several venture capital companies, have helped Workpay proliferate.

    The startup expansion strategy highlights the increasing demand for HR tech solutions across Africa, especially as remote work and cross-border employment become more common. With its ambitious plans and strong financial backing, Workpay is well-positioned to continue leading the HR tech space in Africa.

  • Nigerian HR software, MyXalary rebrands as NotchHR

    Nigerian HR software, MyXalary rebrands as NotchHR

    MyXalary is pleased to announce a rebranding that will profoundly impact the organisation. This courageous step marks a turning point in the company’s history, as it has grown from an HR tool to a powerful HR and People management platform serving companies in Nigeria and abroad.

    Free HR software that helps firms save time and effort is MyXalary’s claim to fame. Still, it has evolved into a full-fledged HR solution thanks to its ever-growing suite, which now includes crucial features. This exceptional breadth of services is strategically reflected in the move to NotchHR.

    According to Mr. Abiodun Atobatele, Founder of MyXalary (NotchHR), the company has grown beyond its humble beginnings as a free HR software. Changing its name to NotchHR reiterates its dedication to providing an all-inclusive HR suite that goes beyond the basics.

    As its name suggests, NotchHR is packed with first-rate features that are made to make HR easier for executives and managers. Benefit from streamlined payroll processing, easy employee management, E-learning, internal communication, attendance tracking, and many more useful tools.

    NotchHR has introduced a new pricing structure to reflect its evolution. Customers can rest assured that they will get the most out of their money thanks to this tiered model’s adaptability and personalised solutions.

    Clients, partners, and stakeholders are cordially invited to join NotchHR on its journey of growth and innovation as it begins this thrilling new chapter.

    Read also: Lagos urges HR directors to embrace ICT for Public Service

    What NotchHR (formerly MyXalary) does

    No matter the size of your company, NotchHR can streamline your HR operations. Business and HR leaders can use it to streamline processes, increase productivity, save time, and recruit top talent. NotchHR can grow with your company and won’t break the bank.

    You can run your HR department like clockwork with NotchHR’s payroll and payment features, as well as its learning and development tools, e-learning capabilities, performance and talent management, promotion and leave management, attendance and job role and competency tracking, requisition capabilities, chats, announcements, and HR reports.

    Simplifying HR is their mission. Streamlining administration and team management is another goal of theirs. You can focus on more important, long-term objectives while NotchHR takes care of the day-to-day operations of your job.

    They guarantee that their solutions will simplify reporting and staff payments, boost administrative efficiency by 25%, and increase employee productivity by 30%. They also claim that overall payroll efficiency will improve by 60%.

    Important factors in rebranding 

    Several important factors should be considered when rebranding your company’s name:

    Get an understanding of how your intended audience thinks and feels. Make sure their expectations and values are in line with your new name.

    Verify trademarks to steer clear of legal conflicts. Ensure the new name is available and protectable by consulting with legal professionals.

    Your brand’s new identity should be a reflection of its principles, goals, and character. Both your target demographic and your competitors should feel a connection to it.

    Gather all relevant parties and devise a plan to get the word out about the rebranding. Everyone from consumers to workers to vendors to financiers is a part of this.

    Keep the logo, slogan, website, and marketing materials consistent with one another. Reliability fosters familiarity with and confidence in the brand.

    Think about how a name change could affect your company’s search engine optimisation. To keep your website visible and your rankings up, update your listings, social media accounts, and content.

    It can take a lot of time and money to rebrand. Make sure you have the manpower and funding to successfully implement the rebrand by assessing the resources that will be needed.

    Before you finalise the rebrand, make sure you get stakeholder feedback and run tests to see how people react to the new name.

    By giving careful thought to these factors, you can ensure a smooth rebranding process and pave the way for your business to thrive in the future. 

  • Bezinga releases report on global technology market research 

    Bezinga releases report on global technology market research 

    Bezinga has released its global HR Technology Market 2023-2030 Research Report, uncovering comprehensive insights into industry trends, growth prospects, and opportunities. 

    The HR tech forecast was released on Wednesday, 13th September and is poised to impact the African HR technology landscape significantly. 

    This report analyses various HR technology types, including Talent Management, Payroll Management, Performance Management, Workforce Management, Recruitment, and others, as well as their applications in industries such as Travel, Transportation, Hospitality (TTH), Public Sector, Health Care, Information Technology, Banking, Financial Services, and Insurance (BFSI), among others.

    Read also: Propel secures $2.74m to build talent hiring technology ecosystem 

    HR Technology Market Growth in Africa

    Africa is experiencing a notable surge in HR technology adoption, mirroring global trends. According to the report, the global HR technology market is expected to grow significantly from 2023 to 2030, with a considerable compound annual growth rate (CAGR). This indicates that the African HR technology landscape is set to expand as well.

    Key Players in African HR Technology Market

    Key players in the HR technology market, including Oracle, Microsoft, Zoho, Ultimate Software, TEAM Software, BambooHR, ADP, SAP, Kronos Incorporated, and IBM, are already making strides in Africa. Their solutions are being embraced across various industries, from finance to healthcare and beyond.

    Comprehensive Market Analysis

    The report offers a comprehensive analysis of the HR technology market, covering aspects such as competitor strategies, sales metrics, customer base, production costs, distribution channels, and growth catalysts. It also delves into market positioning, financial health, organisational scale, market share, expansion plans, and product portfolios. Moreover, the report explores the impact of the COVID-19 pandemic on the sector and provides projected insights up to 2030.

    Market Overview and Growth Trends

    As of 2022, the global HR technology market was valued at USD million, with projections of substantial growth by 2030. The report covers a research period from 2018 to 2030 and presents a detailed analysis of the global HR technology market. It offers insights into market dynamics, opportunities, challenges, and risks. The report also considers global economic factors and regional conflicts, such as the Russia-Ukraine war, and their influence on the HR technology market.

    Segmentation and Regional Analysis

    The report segments the HR technology market by type, including Talent Management, Payroll Management, Performance Management, Workforce Management, Recruitment, and others. It also looks at various applications, including TTH (Travel, Transportation, Hospitality), Public Sector, Health Care, Information Technology, BFSI (Banking, Financial services, and Insurance), and others. The regional analysis examines market conditions and prospects in North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa.

    By 2028, 270 million MENA subscribers will have access to 5G

    COVID-19 Impact and Market Outlook

    The report acknowledges the economic upheaval caused by the COVID-19 pandemic and its effects on the HR technology market. It covers the period before and after the pandemic, assessing its influence on economic indicators, sales volumes, market participation, and growth metrics. The pandemic significantly impacted global markets, including Europe, India, South Korea, and Japan, but the HR technology sector is poised for recovery.

    HR Technology Market Expansion Prospects in Africa

    The African HR technology market is on the cusp of significant growth. As HR technology adoption continues to rise across the continent, key players and emerging startups are driving innovation and providing solutions that cater to the unique needs of African businesses and organisations.

    The African HR technology market is poised for expansion and transformation. As technology continues to reshape the HR landscape across the continent, businesses and organisations in Africa are presented with opportunities to enhance their HR processes, improve workforce management, and drive growth. This report serves as a valuable resource for understanding the trends, challenges, and opportunities in the African HR technology market, guiding decision-makers in navigating this evolving landscape.

  • Propel secures $2.74m to build talent hiring technology ecosystem 

    Propel secures $2.74m to build talent hiring technology ecosystem 

    Propel, a firm with offices in Berlin and Lagos that creates talent pipelines for communities, has received a seed investment of €2.5 million ($2.74 million). 

    Additionally, the business assists multinational corporations in reducing the risk associated with hiring distant workers from developing economies.

     The fundraising round was led by Amsterdam-based “No Such Ventures,” with participation from APX, Golden Egg Check, and Future of Learning Fund. 

    Established in 2020 by Sunkanmi Ola, Seun Owolabi, and Abel Agoi, Propel plans to use the financing to roll out and adopt its community-as-a-service platform and earn €1 million in community revenue by Q4 2020.

    Read also: Egypt’s Fintech giant Fawry partners with Infobip

     Over the past three years, the pandemic has been blamed for global remote work and international corporations are recruiting local workers to cut costs.

     Despite a major reset since mid-2022 that has seen tech companies lay off more than 200,000 employees and a push for partial to full return-to-office requests by employers, the open talent economy will remain important, especially in Europe, where the population is aging, leaving a gaping hole that realistically needs remote talent outside the region.

     Africa has the youngest population in the world, and online learning, STEM courses, and communities, which Propel focuses on, will help grow its IT talent pool. After a year of placing local tech talent in retail and automotive companies like Porsche and Mercedes, Propel noticed that these talent were connected to a community like developer groups, talent incubators, and training schools, which changed the startup’s focus (Propel claims that 8 out of 10 people in emerging markets belong to a community). Thus, community-centered.

    Speaking on community building in the tech talent space, Propel CEO Ola, said: “we realised communities are the building blocks of any tech ecosystem, particularly emerging market ecosystems, but nobody has been building for communities and the distribution layer for the tech talent pipeline had been missing.” 

    He added that “most tech communities build their pool and upskill, but the last mile where you convert these talents to jobs is missing and communities struggle in that regard.”

    Propel connects tech talent to a network of organisations with diversity, equity, and inclusion (DEI) requirements and open positions. Propel taps into these tech communities’ broad talent pools in software development, design, data science, no-code, and other digital transformation skills in exchange for last-mile infrastructure.

    Global companies can use this “community-as-a-service” pipeline. Propel has collaborated with Orange Telecoms, Stepstone, and a variety of European businesses and scaleups on hiring, community hackathons, and DEI activities.

    By working with service providers, IT talent from these communities can access healthcare, workstations, and financial services including loans and asset finance.

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    Propel’s achievements

    The two-year-old talent matching startup delivers this “value stack” as an all-in-one platform to over 100 tech communities in 15 African countries, varied in region, gender, and tech stack. SheCodeAfrica, Ingressive for Good, Niyo Network, Datafest, People In Product, Friends of Figma, and numerous Google Developer Groups have just under 400,000 members. Ola said the company’s objective is to develop to 500 communities with 1 million members across the board in 2024 and create millions in income for these communities through commissions from employment, rewards, and financing on the platform.

     Ola said Propel gets a portion of its hiring and placement fees and rebates. “If a community member gets placed, the community gets a bit of that revenue to add to their coffers. So we’re also creating new financial revenue streams for communities that did not exist before, where they always have to depend on just grants or sponsorships. We’re supercharging communities and we’re providing rockets for them to be able to grow to the next level,” the CEO noted. 

    The 25-person team, distributed across Amsterdam, Berlin, Johannesburg, Lagos, London and Nairobi, has placed more than 550 people into job roles across multiple countries. To date, the company, backed by Google Black Founders in Europe and raised over €3 million, will look to scale its community platform, launch new client offerings and deepen its ecosystem of communities going forward. 

    Sophie Heijenberg, an investor at No Such Ventures, speaking on the investment, said: “Propel’s unique, community-focused approach to driving the open talent economy sets them apart and is a solid addition to the Future of Work category. We’re bullish about their roadmap and super-excited to partner with them on this growth journey.”