Since the company started taking customers about five months ago, Reliance Human Capital Management has exceeded founders’ expectations.
“The growth has been pretty phenomenal,” co-founder Jack Silberman said.
Silberman and business partner Ryan Davis have built up a base of 40 clients, which surpassed their goal of having 35 by about the end of September.
The company specializes in human capital management, which means services in everything from insurance to human resources to payroll.
A positive, motivated workforce is important at the company, which doesn’t have a vacation policy.
Leaders are looking for output, not specifically days worked.
“We want to hire who we consider to be the Lebron James of talent and develop that in-house,” Davis said.
“Employers view their employees as assets,” Davis said. “They invest time and money to retain top talent, and our mission is to give that time back. And sometimes they save money along the way.”
Many clients aren’t as concerned with saving a nickel or dime as they are with streamlining and aligning all their human capital management processes, which allows executives to spend more time on employee engagement, reducing turnover and recruiting, Davis also said.
The company combines technological solutions that help businesses manage HR, and it also handles insurance needs for clients.
Reliance uses cloud technology and has paperless onboarding capabilities. The software can handle everything from tax forms and payroll to attendance management, benefits enrollment and document storage-all on one platform, which is attractive to HR directors, the duo said.
“We didn’t realize how much of a hit it was going to be,” Silberman said. “But the whole idea of the one-stop shop-you call one line and work with someone from a business standpoint who handles all payroll and insurance, and [that has the needed] technology-has really been a sweet spot.”
Reliance Partners is the business’ sister company.
Both are connected to venture capital incubator Lamp Post Group.
The company has grown from two to six employees. Helping to round out the team of executives is Vice President of Account Management Andrea Lewis and Vice President of Technology Brooke Maedel.
Reliance is doing business with companies within a 300-mile radius of Chattanooga, and it’s done about $4 million in insurance premiums.
Looking forward, the founders want to continue to grow organically. Over the next five years, the duo wants to grow between 25 and 50 percent year over year.
“I think we can do that because we are going to reinvest pretty heavily into the company,” Davis said.
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