YEAR IN REVIEW
2023
In a year of rising costs and economic down turn, 2023 was our best year yet in Nigeria. It was defined by growth across product, customer and team. This report is an exploration of the impact and value we helped our customers - employers and employees, achieve in 2023.
72.46% YoY Growth Rate
More businesses trust Pade as their HR & Payroll partner to simplify their work and improve the financial well-being of employees.
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Pade has saved me at least 3hours of productive time. Prior to Pade I had to manually make remittances, follow up to make sure taxes and pensions were remitted, make payroll manually and check with the team if they have received their salaries.
Today in less than 5minutes, I have all of it sorted.
41.1% Average Annual Growth Rate
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Using Pade has been quite smooth, we left a really terrible payroll platform and the experience on Pade so far has been great.
The onboarding was smooth and bar initial hiccups it has been great so far. We have a dedicated specialist and she has been helpful
In a year of rising inflation and financial uncertainties, Pade provided financial flexibility to employees to help improve their financial well-being and maintain their productivity.
Salaries have a fixed date, but emergencies don't, we helped employees access up to 50% of their salary anytime to sort out those issues that come before payday!
We launched and migrated all users to an upgraded and more intuitive people platform - Pade 3.0 - with significant features and enhancements.
Our improved Performance Management module helped organizations to set clear objectives, track critical results, and measure performance against their goals periodically.
By integrating with relevant government systems, we ensured accurate and timely submissions reducing our customers' penalties and errors by 100%.
80% of customers agree that our newly streamlined onboarding and information module set the stage for employee success and a good first impression of their company.
We launched Pade's Mobile App to help employers manage requests on the go, enable employees withdraw their earned salary and download their payslips.
Earned Wage Access helped reduce employees' reliance on high-interest loans and unfavourable debt agreements. They can access up to 50% of their earned salary ahead of payday.
Employees now easily access to their payslips, explained in simple terms to help them understand and make better informed financial decisions.
Employees on Pade enjoyed a better work-life balance, taking Leave Requests via the Pade mobile app.
The first step to grow wealth is earning, the next is having the right resources to guide you.
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In the last 1 year, we have witnessed continuous improvement in out HR processes since we deployed PadeHCM. Our processes have become seamless and the turn around in addressing leave requests, loans, salary advances and expense reimbursement has been very impressive.
Hear our customers testify how we have helped them become more operationally efficient by simplifying their work processes and helping them succeed.
Customer satisfaction remained consistent throughout the year, with an average NPS (Net Promoter Score) of 60. The positive feedback from our clients reflects their strong confidence in our products and services.
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When our CEO introduced Pade as our new HRM tool, I didn't know what to expect, however from the first visit to the website, my expectations have been exceeded.
We only needed payroll but Pade has helped us become more effective in managing employee information, setting OKRs and managing team activities.
Our team takes all the credit for making 2023 an incredible year for Pade. About 90% of people who work at Pade agree that they feel valued and appreciated working at Pade.
Pade's product was nominated as Best Designed Product of the Year by Non Tech in Tech. Our Product Marketing Manager - Ore Badmus was also nominated as Product Marketing Manager of the Year
Potential is evenly distributed. However, opportunity is not. Africa, our beloved continent, while blessed with enormous human potential has suffered the worst development for decades. We have the youngest population in the world but suffer the lowest productivity rates. It is therefore our responsibility to develop the continent using the tools and resources available to us, so that we can turn the tide of brain drain, low productivity, economic hardship, and other problems that affect our growth.
At Pade, our commitment is to use technology to simplify the world of work and improve the lives of Africans, wherever they are on the continent. This is borne out of the desire to see executives' time freed up from mundane, repetitive work so that we can all focus on strategic actions that provide maximum value. From onboarding to exit and everything in between, we will continue to develop the technology tools that help Africans become more efficient, accurate, and productive in their daily lives. We will also connect them to financial solutions that improve how they live via their paycheck.
We chose to work in this area because we believe our team’s combined experiences can deliver a significant impact on the continent. While we understand that we cannot solve every problem, we intend to leverage intra and inter-industry collaborations to help spur Africa towards achieving its vast potential. It is said that people will spend about a third of their lives at work, and we believe that via our work, we can help contribute to improving the lives of the African worker and create a better future for oncoming generations.
We thank every customer, investor, team member, and believer for supporting our work in 2023 as we look forward to becoming one of Africa’s leading HRTech companies this year.
Thank you for believing in us.
Seye & Lekan
Cofounders at Pade.
