The up-market strategy focuses on companies
Employment Hero
Employment Hero is moving from being a payroll and HR tool for smaller businesses into a replacement for the mid market HR stack. In the 500 to 2,000 employee band, buyers often want one system for employee records, onboarding, time off, performance, payroll, and compliance, not separate tools stitched together. That is where HiBob has built its position, and where Workday has long been the enterprise default. Employment Hero is trying to win by bundling those workflows at a lower total software bill, while using large payroll volume as proof it can handle complex pay runs at scale.
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HiBob has explicitly built for companies with hundreds to a few thousand employees, calling itself a platform for modern mid size and multinational organizations and, in earlier company material, for firms with many hundreds to a few thousands of employees. That makes it a natural incumbent in the exact segment Employment Hero is targeting.
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Workday still anchors the larger end of this market because its HCM suite is designed for 1,000 employee enterprises and is used by medium sized businesses through more than 50% of the Fortune 500. Winning against Workday means proving not just product breadth, but implementation reliability and payroll accuracy.
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Employment Hero already monetizes across several layers, per employee HR and payroll software, Employer of Record services, and employee side financial products in Swag. That matters up market because a single vendor can price the core system aggressively, then make more money as more payroll volume and employee activity moves through the platform.
The next step is a direct collision between mid market HR suites and payroll led all in ones. If Employment Hero keeps adding enterprise grade modules and lands more 500 to 2,000 employee accounts, the market will split less by company size and more by which vendor can own the full worker record, the payroll flow, and the employee wallet in one system.