Predict your next investment

Worky company logo
INTERNET | Internet Software & Services / HR & Workforce Management
worky.mx

See what CB Insights has to offer

Founded Year

2017

Stage

Seed VC | Alive

Total Raised

$3M

Last Raised

$3M | 1 yr ago

About Worky

Worky provides solutions to calculate pre-payroll and automate the distribution of receipts.

Worky Headquarter Location

Calle Gutenberg 194 Miguel Hidalgo

Mexico City, 06140,

Mexico

+52 56 1111 4598

Latest Worky News

Break the five most common outsourcing reform myths

Jun 11, 2021

Without digital tools for the correct handling of deductions, incidents and contributions in their payroll, companies are exposed to sanctions. Stay informed and join our daily newsletter now! Email 5 min read This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. With 41 days to comply with the new regulation on Outsourcing, which comes into force on July 24, five myths prevail among Mexican companies. The new regulatory framework applies to companies of all sizes, however, SMEs are under more pressure because they do not have great internal support or consulting firms to carry out this transition. In addition to the rush to comply with the new regulations, it must be taken into account that there is some confusion about the functions that can continue to be contracted through outsourcing. For SMEs, companies from 10 to 200 or 300 employees, internalizing the functions that were traditionally handled in outsourcing is complex and represents a challenge. Automation and support are key to successfully undergo this transformation and avoid the associated fines. To dispel the main myths that exist regarding the new regulation, Business Republic organized a webinar to offer real facts and advice for the new regulation. At the event, Carlos Marina COO of Worky , Lorena Atondo and Gabriel Fernández, both from Reynoso & Atondo, Abogados, SC, agreed that this situation is significant, since it impacts more than 4.7 million workers, 17% of the formal jobs in the country. And it is that urban myths and fake news abound that cause uncertainty and concern among clients and prospects, Carlos Marina warned. The myths: "I can continue with my current outsourcing scheme, since the authority does not have the resources to detect it." "I can avoid the new regulations by passing my collaborators to schemes of incorporation into the tax regime, fees, cooperatives or unions." "We can pay a minimal amount in cash and the rest of the compensation can be handled through bonuses, commissions and vouchers." "I don't worry about the compensation schemes of the past, as there are no retroactive effects." "The internalization of the payroll is too expensive, I better risk possible fines" Each of these statements are not only false but risky. The specialists clarified that the new regulations are designed to improve the conditions of the workers and that in that spirit, the authority has organized itself to avoid precisely any act of simulation. At this juncture, solution providers have emerged that seem miraculous, but in reality only expose the company and its human capital to unnecessary risks. Photo: Worky Advice "My advice to all employers is to take preventive measures to comply in a timely manner and to focus on the positive aspects that the internalization of staff brings in terms of employee satisfaction, loyalty, and company productivity," commented Lorenia Atondo . For his part, Gabriel Fernández, added that the sanctions are structured to promote broader compliance, since they range from 178,000 pesos to more than 4 million and even criminal sanctions are contemplated. It states, "The authority has full visibility of these myths and others, and is organized to detect and punish through mechanisms of collaboration between institutions and information exchange." The internalization of workers represents a change of capital dimensions for companies that currently depend on outsourcing for the management of their human resources. "For small and medium-sized companies, which do not have specialized departments or the support of consultants and law firms, this transition becomes even more delicate," commented Marina, highlighting that Worky is dedicated precisely to companies with 20 and up to 200 employees for whom offers support throughout the internalization process with a 100% Mexican management platform designed to be affordable and relevant for this segment. Hanz Dieter Schietekat, CEO of Business Republic and who moderated the event, ended the session by urging attendees to act promptly. “I hope it has become very clear that compliance with the new outsourcing standard is imminent and mandatory. Remember that if a solution sounds too good to be true, it probably is. With less than a month and a half remaining for compliance, it is imperative to have the right tools and advice. " More from Entrepreneur Our Franchise Advisors are here to help you throughout the entire process of building your franchise organization! Schedule a FREE one-on-one session with a Franchise Advisor Choose one of our programs that matches your needs, budget, and timeline Launch your new franchise organization Which industry you’re interested in Why you want to buy a franchise What your financial needs are Where you’re located Providing us with basic information about your business Verifying details about your business with one of our specialists Speaking with an agent who is specifically suited to insure your business

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Worky

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Worky is included in 4 Expert Collections, including LatAm Fintech.

L

LatAm Fintech

1,082 items

S

SMB Fintech

1,073 items

F

Fintech in Mexico

176 items

F

Fintech

10,749 items

Excludes US-based companies

Worky Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Worky Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.