Challenge

Lyrid Inc., a California-based tech startup, raised almost $1 million in seed-round venture capital to launch in 2019 as a company offering multi-platform cloud solutions. On their way to $500,000 in revenues in 2021, they faced new obstacles, including California regulations mandating all employees receive retirement savings benefits. After turning to Paychex for help establishing retirement savings plans, it made sense to explore what other solutions might help Lyrid attract the manpower to strengthen its remote workforce.

How Paychex Helped

Founder Handoyo Sutanto and COO Simon Loo found the insights and expertise of their dedicated Paychex HR professional especially helpful in structuring additional employee benefits to better attract the right candidates to Lyrid. Their goals? Finding those who will stay long-term, and remain invested in the startup’s success. Creating a seamless onboarding experience to integrate new hires into a fully remote team and keep them connected was another advantage, especially when new employees are working in different cities and even countries.  

Success Strategy

“Partnering with Paychex makes us more unique than any other startup out there,” says Simon, noting the high-quality benefits Lyrid now boasts can even exceed Fortune 500 company offerings.  “It allows us to attract really brilliant talent to join us on this journey.”