The Problem
As a Y Combinator-backed startup, Kaya experienced explosive growth with startups from all around the world lining up to work with them. The pressure was on to build a world-class team with talent from all over the world.
Kaya initially attempted to manage international hiring in-house, assigning team members to research local laws, draft contracts, and handle payroll and benefits for each country. However, they underestimated the complexity of compliance and cross-border transactions. They often failed to account for varying payment methods and banking systems, leading to delayed payments.The hiring process was slow and led to missed opportunities.
The leadership team found themselves dedicating more time to administrative tasks than strategic initiatives. It became evident that they needed a more effective solution to navigate the complexities of global hiring and scale their marketing efforts successfully.
The Solution
Kaya's team was thrilled to find that Thera's platform automated many of the time-consuming tasks they had been struggling with. From generating locally compliant contracts to handling payroll and benefits administration, Thera took care of the heavy lifting.
Instant payouts eliminated awkward money discussions and ensured contractors were paid promptly, fostering trust and transparency.
Thera's dedicated customer success team provided personalized support, ensuring a smooth transition to the platform. The Slack channel allowed Kaya's team to seek assistance and receive prompt support 24/7, giving them confidence to tackle any challenges.
With Thera, Kaya could now hire a social media strategist in Australia, a content creator in Brazil, and a data analyst in Germany, all with just a few clicks.
The Result
Within just 24 hours, Kaya's entire global workforce of 50+ contractors was seamlessly migrated to the Thera platform, with no disruption to their work or payments.
Kaya's team saved an astounding 60 hours per month on administrative tasks related to international hiring, payroll, and compliance. This time was redirected towards strategic initiatives, allowing them to focus on scaling their marketing efforts and driving growth.
Kaya saved over $50,000 annually on cross-border transactions. These freed-up funds allowed them to attract and hire even more top-tier talent from around the world.
Thera's better FX rates and lower transaction fees resulted in a 3% increase in contractor take-home pay. This might seem like a small percentage, but it made a significant difference in the lives of Kaya's global contractors, fostering loyalty and long-term relationships.
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