Sydney-based human resources (HR) benefits and payroll platform Employment Hero has announced a partnership with ANZ that will see its HR technology rolled out to ANZ’s small business customers.
The partnership will mean ANZ business customers gain free access to the platform early this year.
It comes after Employment Hero raised $4.5 million last year from VCs including AirTree, OneVentures and AMP Ventures.
The startups founder, Ben Thompson, told Startup Daily last November that the funding served as validation of the company’s proposition to Australian businesses.
“We’ve made significant progress in a relatively short amount of time. Our subscriber base grew over 300 percent in the first 9 months of 2016,” Thompson said at the time.
Speaking about the new partnership, Thompson said NZ approached him looking to use the platform solve a “major pain point” around their customers managing employees.
Currently, 1,000 different businesses use the HR platform, with the startup stating it is on track to increase this number to 10,000 by 2020, helped by the ANZ partnership.
Founded in 2014, Employment Hero offers businesses a cloud platform to help HR staff manage their employee performances, contracts, attendance and rostering duties.
The platform has benefits for employees too, thanks to a reward system offering prizes such as discounts on gym memberships, electricity and gas, cars, mortgages and phone plans through brand partnerships.
The startup said there’s also potential that ANZ utilises Employment Hero’s data to inform improvements on the bank’s credit approval model.
“There are a huge range of options going forward however the thing we’re most excited about is providing SMEs and their employees with financial wellness and access to the best employee benefits,” said Thompson.
“Obviously we also have some great opportunities to leverage data in new, more powerful ways.”
ANZ’s Managing Director of Corporate and Commercial Banking, Mark Hand, said the platform will help support the “complex” process for employers running an SMB.
“Staying on top of the administration can not only cost them money and time, but can also take business owners away from growing their business,” he said.
“This platform contains everything an employer needs to recruit, manage, pay and engage their workforce in a simple cloud solution.”
A focus on developing Australian HR tech sprouted towards the end of last year, with the introduction of Australia’s first HR accelerator, Human Capital.
The accelerator works with large Australian corporates to run 12-week programs to help fuel innovation in the sector.
Image: Ben Thompson. Source: Supplied.