Buk to disperse US$3 million to expand HR platform in Latin America

Contxto – Chilean HR startup, Buk, has some interesting expansion plans ahead. It expects to consolidate its presence in Colombia and Peru, where it recently launched its SaaS platform. Likewise, it wants to launch in Mexico in 2021. All of this comes with a price tag of around US$3 million to be disbursed within the next two years.

Aggressive? Yes. Unsound? Nope. In fact, the startup is wagering that HR departments in Latin America will have a greater need for its platform in a post-Covid era with more remote work.

“We’ve found that in these countries there are businesses that are adopting more software since their staff cannot physically go to the office,” explained Santiago Lira, Buk’s co-Founder. 

“As a result, there’s a lot of interest in using tools for human resources like e-signing, for making payroll, granting compensations, and so on.”

Systems like Buk’s offer tools to oversee other matters like the work environment, employee reviews, and even talent acquisition.

All-in-one and more importantly, all at a distance.

• Related article: 11 HR startups in Chile lightening the load for companies

Like it or not, remote work will become commonplace in Latin American workplaces. Consequently, solutions that can build over these physical distances represent an interesting alternative to keeping internal matters in order.

More remote work, please

A recent survey by consulting firm MARCO offers insights as to expectations among some Latin American countries. By surveying people in Brazil, Mexico, and Colombia it identified a series of perceptions that will have to be addressed by regulators and businesses alike.

Here are just a few takeaways…

Share of surveyed population that would like to continue working remotely:

• 72 percent of Brazilians
• 76 percent of Mexicans
• 80 percent of Colombians

Share of surveyed population that misses socializing with their coworkers:

• 56 percent of Brazilians
• 56 percent of Mexicans 
• 54 percent of Colombians 

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Aside from dealing with these expectations, decision-makers will also have to address other problems. A major concern is how employees will get to work given their potential exposure to Covid-19 when using public transportation.

Therefore it’s likely people continue working at a distance. Correspondingly comes HR’s reliance on software systems to keep their ducks in order—though not just for managerial affairs. 

Related articles: Tech and startups from Chile!

-ML