Managing HR is an important function for any business. But small businesses often rely on spreadsheets and outdated processes. Cloud system BambooHR aims to fix this problem.
In addition to the company’s solutions, they also promote a culture of freedom and work-life balance. Read more about the unique team environment in this week’s Small Business Spotlight.
What the Business Does
Provides cloud based HR software.
COO Ryan Sanders told Small Business Trends, “Serving more than 13,000 customers and 1,200,000 employees, BambooHR is the leading software provider powering the strategic evolution of HR in small and medium businesses. BambooHR’s cloud-based system is an intuitive, affordable way for growing companies to manage essential employee information in a personalized Human Resources Information System (HRIS). Our software sets HR free to do great work and be more strategic, which helps the entire organization do the same. BambooHR’s clients include innovators like SoundCloud, Foursquare, Freshbooks, Stance, Reddit, Magnolia Homes, and others in more than 100 countries and 8 languages worldwide.”
Business Niche
Providing exceptional customer service.
Sanders says, “We truly love our customers, and we want to do everything we can to set them free to do great work. We track the NPS scores of our customers, and this helps us better understand what they need and ways that we can improve as an organization.”
How the Business Got Started
As a way to help people.
Sanders and co-founder Ben Peterson founded the company in 2008. They wanted to find a business idea that would genuinely help people. They considered the experiences they had with HR throughout their careers. Then they felt there was a gap in the market for a software solution that could help business owners improve their culture and increase efficiency.
Biggest Win
Staying in business for more than a decade.
Sanders adds, “If you look at most startups, especially SAAS startups they don’t tend to last. By focusing on our customers and our product, we’ve been able to overcome the struggles that cause a lot of companies to go out of business.”
Biggest Risk
Holding back from potential growth.
Sanders explains, “We resisted the urge to raise a ton of money and hire dozens of people all at once. We kept our focus on creating the best product we could and creating the best experience for our customers.”
Lesson Learned
Fill important needs early on.
Sanders says, “We could have hired key positions a little sooner in our history.”
How They’d Spend an Extra $100,000
Rewarding the team.
Sanders adds, “We would look at adding a new benefit that would help our employees be set free to do great work.”
Team Perk
Paid paid vacation.
Sanders explains, “Every year each employee gets $2,000 to go anywhere in the world. We live our company values, we believe in working 40 hours a week and then leaving work at work!”
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Images: BambooHR; Top Image: (From Left to Right) Anna Lim (Referral/Partner Marketing Manager) Todd Grierson ( Sr. Director of Business Development/Strategic Initiatives) Becky Talpas ( Implementation Manager); Second Image: Tyler King Social Media Manager