How a $20M Startup Saved $1.3M on Team Expansion

Case Study: Bonusly’s Engineering Expansion in Latin America Powered by Globy

Challenge

Bonusly faced dual challenges following a successful Series B funding round. The company needed to quickly scale its engineering team to accelerate development of new product functionalities, while simultaneously managing cost efficiencies due to evolving venture investment climates. The objectives were clear:

1. Rapid Team Expansion: Quickly scale the engineering team to meet immediate development timelines.
2. Cost Optimization: Enhance cost efficiency in development without compromising the quality of the product or the company’s internal culture.

Solution and Implementation

Globy addressed Bonusly’s need for rapid and cost-effective engineering expansion by recruiting 11 senior engineers from Argentina, Mexico, and Brazil. The full package service included sourcing, interviewing, compliance, payroll handling, and integrating new hires into the existing teams. This comprehensive approach covered all aspects of international hiring, allowing Bonusly to focus on core operations.

Candidate Requirements:

• Technical Expertise: Fullstack engineers, Ruby Engineers, and QAs.
• Experience: Minimum of 5 years in relevant technologies and a background in startup environments.
• Language: Proficiency in English with high-level communication skills.
• Cultural Fit: Ability to integrate seamlessly with existing teams, not just as offshore support but as core team members.
• Availability: Capability to work within US time zones.

Recruitment Pipeline Performance and Results

Conclusion for Ruby on Rails Engineer: The pipeline showcased a focused and effective screening process, with a 17% overall conversion rate from reviewed to hired, significantly higher than the industry average of around 1-3% for similar roles.

Conclusion for Fullstack Engineers: This pipeline demonstrated strong performance with a 26% conversion rate, indicating an efficient selection process that effectively matched candidates to Bonusly’s stringent requirements.

Conclusion for QA Engineers: With a 20% hiring conversion rate, this pipeline efficiently filtered candidates through rigorous technical and cultural assessments, aligning well with Bonusly’s team dynamics.

Recruitment Efficiency and Time Savings:

Globy’s efficient recruitment process for Bonusly significantly reduced the hiring timeline from the typical 4-6 months to just 2.5 months, saving 270 to 630 hours. This was achieved through a detailed 3-hour technical interview by a tech executive, focusing on candidates’ technical skills, communication, English proficiency, and cultural fit.

This approach ensured only the most suitable candidates progressed, saving Bonusly about 100 to 150 hours in interviews and translating to approximately $18,000 in cost savings during the interview process alone.

Testimonial

“When we set out to develop our LatAm hiring strategy, the first and best thing we did was seek a partner who knew how to operate in this environment. Globy blew us away with their professionalism and expertise. They supported us as true partners by seeking first to understand our organization, culture and objectives and then sourcing the best candidates possible for our needs.“

Namaste Reid | Engineering Manager at Bonusly

Conclusion

Globy’s comprehensive recruitment strategy for Bonusly delivered substantial cost efficiencies and operational benefits by expertly managing the end-to-end process—from sourcing and recruitment to payroll, compliance, and even handling bonuses and equipment for new hires. This approach significantly reduced the complexity and cost for Bonusly while maintaining the highest level of talent acquisition.

Annual Cost Efficiency with Entire Team:

When considering the entire team Globy recruited, Bonusly saw annual savings that could range into the hundreds of thousands of dollars, depending on the size and composition of the team.

Strategic and Operational Impact:

• Rapid Deployment: Globy’s efficient hiring reduced time-to-hire from a potential six months to just 2.5 months, allowing Bonusly to swiftly meet critical development deadlines.

• Quality and Integration: Despite the fast-paced environment and significant cost savings, the quality of talent and their cultural fit within the company remained uncompromised, ensuring effective integration into Bonusly’s existing teams.

Globy’s role in this strategic expansion exemplifies how an integrated approach to international recruitment can significantly reduce costs and operational burdens while securing top-tier talent. This partnership not only met Bonusly’s immediate needs but also positioned them for sustained success in their market expansion efforts.