How Ultrahuman Retains Nearly 100% of Their Tech Team.
The Bengaluru-based wearable tech startup is defying all odds in employee satisfaction.
A startup tech team boasting nearly 100% employee retention sounds impossible. In comes Ultrahuman, a fast-growing Bengaluru-based health tech startup defying all odds.
Having worked with Ultrahuman ourselves, our recruiters have seen the startup’s people culture first-hand. Their tech team, especially - has seen a remarkably low attrition rate (nearly 0 per cent!). Is it the emphasis on work-life balance? The focus on continuous learning? Or perhaps the power of a shared vision?
From Biohacking to Building an Empire:
The Ultrahuman story starts in an unexpected place: One of the world’s largest MMA training camps, in Thailand. Its founders Mohit Kumar and Vatsal Singhal were previously best known as the founders of food ordering app Runnr, which was eventually acquired by Zomato.
From its humble roots, it's rapidly evolved into a full-fledged healthcare company, tackling the global metabolic health crisis head-on. In their most recent financing round, the startup raised $35 million in a mix of equity and debt. This brings Ultrahuman’s total fundraise so far to $65 million.
Tech that Transforms:
While their products weren’t the first in the market — Ultrahuman's secret sauce lies in its cutting-edge technology. Their pioneering UltraTrace™ technology seamlessly links sleep, heart metrics, movement to blood markers, giving you a deeper understanding of health than ever before.
With real-time data at their fingertips, users can tweak their sleep routines, optimise their workouts, and make informed dietary decisions – all with the goal of achieving their personal health and wellness goals.
A user-centric approach is a cornerstone of Ultrahuman's success, as this LinkedIn user rightfully points out. In essence, by prioritising user needs, they also create an attractive and engaging work environment that fosters a sense of purpose, innovation, and shared success – all factors that contribute to a strong employer brand and increased employee retention.
The People Powerhouse:
But what truly sets Ultrahuman apart is its phenomenal employee retention rate. With a team size of roughly 125-140 (including a 35-40 member tech force), they have only seen 3 departures in their tech team – one for further studies, another for a founder's dream, and the last due to a spouse's relocation.
The Pillars of Retention:
Here are the key elements driving Ultrahuman's employee satisfaction:
Work-Life Balance: Ultrahuman prioritises a healthy balance between professional and personal lives.
Multifaceted Growth: Employees gain exposure to diverse areas within the company, fostering continuous learning.
Cross-Functional Collaboration: Silos are discouraged, replaced by open communication and collaboration across teams.
Learning & Innovation: Taking calculated risks and experimenting with new technologies is encouraged.
Global Perspective: An international outlook keeps the work environment dynamic.
Young & Visionary Leadership: Founders who understand the modern workforce lead the company.
Alignment with Values: Hiring individuals who share the company's vision creates a strong foundation.
Additional Factors: Ultrahuman emphasises cross-functional exposure, flexible work arrangements, and generous leave policies, further solidifying its commitment to employee well-being.
Keeping Your A-Team Happy is the Ultimate Edge: AMA with Pranisha Dalal
In the cutthroat world of startups, keeping your best talent happy might just be the ultimate competitive advantage. Ultrahuman seems to have cracked the code.
We asked for advise from Pranisha Dalal, who leads Tech Hiring at MetaMorph. Here is what she has to say on building a loyal and thriving tech workforce.
Compared to established companies, what are the unique challenges startups face in retaining tech talent, especially during periods of rapid growth?
Startups struggle to keep their tech talent, especially during growth spurts. Here's why:
Startups usually have limited financial budgets compared to established companies, which may prevent them from offering competitive salaries and benefits to attract and retain top tech talent.
They are more susceptible to failure or financial instability due to their early-stage nature, which may make employees hesitant to commit long-term to the company or make them insecure.
Often, Startups operate in a fast-paced, chaotic and high-pressure environment, which can be stressful for employees especially when they don't realise the larger picture and lead to burnout or dissatisfaction with their job.
They may have fewer opportunities for career advancement or professional development compared to established companies since most of them follow flat hierarchical structures, which could lead to tech talent seeking opportunities elsewhere.
Some startups may have less structured processes and procedures in place, which sometimes can make it challenging for tech talent to thrive and feel supported in their roles, especially if they don't have the right mentorship and guidance.
Overall, startups must be proactive in addressing these challenges by fostering a strong company culture, providing opportunities for professional growth, and offering competitive compensation and benefits to retain tech talent during periods of rapid growth.
Beyond competitive salaries and benefits, how can a startup create a work environment that fosters a sense of ownership and engagement among its tech talent, leading to lower attrition rates?
A culture of open communication makes employees feel more comfortable sharing their ideas, concerns, and feedback and also fosters a sense of ownership and autonomy.
Offer opportunities for employees to learn new skills, take on new challenges, and advance their careers within the org. This helps employees feel invested in their work and motivated to stay with the company long-term.
Encouraging cross team collaboration and inclusivity among employees can help create a sense of belonging and ownership among employees, and lead to higher levels of engagement and satisfaction.
Acknowledging and rewarding employees for their hard work, achievements, and contributions makes employees feel valued and appreciated, leading to higher levels of engagement and loyalty.
Give employees the autonomy to make decisions and take ownership of their work. This can help employees feel empowered and engaged, and lead to lower attrition rates.
By implementing these strategies, startups can create a work environment that fosters a sense of ownership and engagement among their tech talent, ultimately leading to lower attrition rates and a more satisfied and productive workforce.
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