This document introduces cloud-based HR software that aims to address common HR problems like employee disengagement, high turnover rates, and the associated costs. It presents data showing many employees are unhappy at work and managers are a key driver of engagement. The proposed software includes data-driven performance reviews and appraisals, employee analytics, and onboarding tools. It argues current tools mostly digitize manual processes, whereas its products are designed from the ground up to be data-driven and transparent. Financial projections estimate profitability by early 2018. An investment of $500,000 is sought to fund marketing, development and operations through early customer growth.
2. 70%
of employees
are unhappy or
disengaged at
work.
80%
of people
dissastified with
their direct
manager are
disengaged.
46% 20%
of new hires
leave within 18
months.
global turnover
every year.
16% in Australia
20.8% in China
10.5% in Hong Kong
15.6% in Singapore
23.6% in USA
THE PROBLEM
Unhappy & disengaged employees Leave, costing business big money
21%
cost of employee’s
annual salary to
replace their job.
3. $550 billion
estimated cost of turnover & unhappy
employees - worldwide
No.1 issue
that keeps CEOs awake at
night (*according to HBR)
THE PROBLEM
5. To make work fair, to
put people first in
people management.
We will bring fairness, transparency
data-driven decision making, &
humanity to the workplace.
OUR PURPOSE
6. PERFORMANCE WAVE
(DATA-DRIVEN APPRAISALS)
Data-driven, transparent
customer and team reviews
HR COMMAND CENTRE
(ANALYTICS)
FIRST 100 DAYS
(ON-BOARDING)
Comprehensive new
employee on-boarding tool
Employee and HR analytics
with competitor benchmarking
OUR PRODUCTS
7. Home / Action Checklist
Reimagined Appraisals
• No more KPIs! Uses the
“Formula of Performance”
algorithm.
Measures:
Relationships x Skills x Role Purpose
+ Job Suitability
+ Promotion Readiness
• No arguments with your boss!
Reviews performed by your
Customers and your Team,
not your Manager.
• Monthly reviews, not Annual.
• Transparent. You can see
your data, your rankings and
your team’s data.
PERFORMANCE WAVE: DATA-DRIVEN APPRAISALS
Appraisal: Rating Skills
Your Monthly & Year-to-date
Performance
Your Transparent Team &
Company Ranking
8. FIRST 100 DAYS: EMPLOYEE ON-BOARDING
Home / Action Checklist On-boarding Action Items
Your Network: Your Critical
Stakeholders & Customers
First Impressions: 3
Performance Reviews over
100 Days
Effective On-boarding
• Solves the challenge of
Probation Periods. Provides a
clear First 100 Day plan for
onboarding.
• Customizable action item
checklist.
• Build a strong network:
Sponsor, Manager, Team and
the top 5 most important
Customers.
• Transparent First Impressions.
3 monthly Appraisals by the
Manager, giving the new
employee clear performance
feedback.
9. Monthly software-as-a-service (SaaS) business model (US$ per month)
SOFTWARE PLAN PERFORMANCE REVIEWS
FIRST 100 DAYS
(ONBOARDING)
HR COMMAND CENTRE
(ANALYTICS)
STANDARD $7 /month /employee $30 /new employee $10,000 /month
PROFESSIONAL $10 /month /employee $50 /new employee $15,000 /month
SAAS BUSINESS MODEL
10. HOW WE ACQUIRE CUSTOMERS
Digital Marketing
60% of resources / effort
Self-service model for
SME Customers
(10 - 500 employees)
Assumes:
• Search & Social advertising.
• $1.81 CPC in 2017, $1.51 in
2018, $0.81 in 2019.
• 1% conversion rate from web
visitor to trial.
• 50% retention rate from trial
to full paying customer.
Enterprise Sales
30% of resources / effort
Direct sales model for
Enterprise Customers
(500+ employees)
Direct sales to large customers,
signing them up for 12 – 36
month deals.
HR Partnerships
10% of resources / effort
Partnership model for
Enterprise Customers
(500+ employees)
Working with HR Consultancies,
Complementary Software Companies &
Recruitment RPOs.
11. COMPETITORS Performance Specialists
General HR Software
Manual / Subjective Data-driven / Analytical
Real-time feedback / appraisals
Onboarding specialist
General HR software / Core HRIS
Connecting appraisals with
remuneration data
Transparent, data-driven
appraisals & onboarding
12. WHY PEOPLEWAVE IS BETTER
Competitors are keeping the status quo, not addressing real problems.
Peoplewave is leading a data-driven revolution.
Data-driven
First data-driven appraisal
platform ever. Other tools
digitize manual processes.
We’re reinvented them.
Unique
Algorithm
No more KPIs! We
researched and created the
“formula of performance”:
Relationships x
Skills/Competency x
Role Purpose/Impact
The “wave”
Both Company &
Employees keep their data.
Your performance wave
gives you a full history of
every job, in every
company.
Unique “First
100 Days”
Our competition in
onboarding are manual
processes. No competing
software.
Competitor
Benchmarking
No other product can
compare company
performance with your
direct competitors.
Peoplewave can.
13. TRACTION
4 pilot
customers
in Australia, Hong Kong,
Singapore & Thailand
1,000
users
employees ready to
use Peoplewave
Products mapped out and currently in Minimum Viable Product “MVP” stage development.
40 HR
leaders
have reviewed &
validated Peoplewave
14. MANAGEMENT & TEAM
Damien Cummings
Chief Executive Officer
• 20+ years in digital,
marketing and leadership.
• Former Global Head of
Digital at Standard Chartered
Bank, CMO of Philips,
Marketing Director at
Samsung.
• Most awarded marketer in
Asia.
Advisors
Drew Calin Jay Pring Nicki Kenyon Pip Penfold Vivianne Arnold
Head of
Enterprise
LinkedIn
Head of
Enterprise Sales
Salesforce
General Manager
Visit Victoria
HR Leader
Infosys
CEO
Franklin Arnold
Phil Aldridge
Chief Technology Officer
• 20+ years in IT and
operations.
• COO of FunctionEight.
• Start-up advisor and mentor
at the British Chamber of
Commerce (HK).
Chi Tran
CEO
Loop.space
Yeng Wai Leong
Strategy
Consultant
Aurelia Jessica
UX & Creative Lead
• Former Twitter
creative & brand
strategy.
Francis Magallen
Senior Developer
• Former Engage IQ
developer.
15. Already Raised
Seed Funding
Angel funding of $100,000
from founder and friends.
Seeking USD $500,000
INVESTMENT OPPORTUNITY
How it will be spent
Marketing (customer acquisition): $250,000
Staff (development & sales): $200,000
Overheads: $50,000
How long will this last Until June 2018
(business reaches breakeven in Jan 2018)
20. Business Model Canvas
Key
Partners
• HR Consultancies
• Management
Consultancies
• Recruitment / RPOs
• Complementary HR
Software providers
Key
Activities
• Software Development
3 key products:
1.First 100 Days
(Onboarding)
2.Performance Wave
(Appraisals)
3.HR Command Centre
(Analytics)
Value
Propositions
• Software Developers
• Software
• Employee Data
• Data Algorithms
Customer
Relationships
• Self-service (facilitated
online via digital
marketing)
• Enterprise sales &
business development
Customer
Segments
Customer Segments:
• Micro business (1 – 10
employees)
• Small business (10 – 50
employees)
• Medium business (50 –
500 employees)
• Enterprise (500+
employees)
• Government
Focus Customers:
• Medium Business (via
self-service /
marketing)
• Enterprise (via sales /
business development)
Key Resources
• Software Developers
• Software
• Employee Data
• Data Algorithms
• Senior management
expertise
Channels
• Peoplewave.co
• Partner marketing
(consultancies)
• Affiliate channels
Cost Structure
• Software Development
• Customer Success / Service Issues
• Marketing (supporting self-service software model)
Revenue Streams
• $7 / employee / month for Performance Wave (software license)
• $30 / employee for First 100 Days (software license)
• Professional services & training fees
21. COMPETITORS
COMPANY DESCRIPTION CUSTOMERS USERS RATIO PRICING INVESTMENT / M&A
BambooHR
Best-in-class. Full HR system. Ranked number 1 in
reviews. 7,156 454,706 1 to 64 $7/month/user
Appraisd Performance review specialist. $5/month/user
SAP SuccessFactors Best-in-class. Full HR system. 6,000 45,000,000 1 to 7,500
Acquired by SAP for $3.4b in
2011
Ultimate Software Best-in-class. Full HR system. 3,700 14,800,000 1 to 4000
HR Performance Solutions
Performance review specialist. Links with
compensation. 1,400 194,444 1 to 138
$2,100/year/user
($175/month)
Zoho People
Online software company, recently moved into HR
space in addition to their IT and office software.
$99/month/50 users
($1.98/month)
Workday
Best-in-class. Full HR system. Founded by the ex-
PeopleSoft team. 1,000 150,000 1 to 150
AssessTeam Performance review specialist. 1,200 7,340 1 to 6 $1-$3/month/user
Saba Full HR system. 2,200 31,000,000 1 to 14,090
Impraise Performance review specialist. 100 $7/month/user $1.6m in seed funding in 2016
Cornerstone
Full HR system. Focuses on recruitment, learning and
development. 2,050 14,500,000 1 to 7,073
SumTotal Talent
Full HR system. Reviews, recruitment, timesheets.
Strong focus on learning and development. 3,500 4,500,000 1 to 1285 $10,000/one-time
HRWeb
Full HR system. Reviews, onboarding, recruitment,
timesheets. $39.95/month/user
Reviewsnap
Performance review specialist. Includes
compensation. 1,400 260,000 1 to 186 $3.25/month/user
Enboarder
Australian-based onboarding tool. Uses SMS as
primary communication. Direct competitor to "First
100 Days"
100 - 7,156 7,340 - 45m 1 to 3745 $1 - $175/month/user