Why Foxtek believes young people need tools like Bippit
Foxtek is a company on a mission: to bring recruitment into the modern era.
They’re taking a new approach in a bid to change outdated practices, improve a lack of care, and tackle the industry’s bad reputation. This has meant hiring younger professionals with a new approach.
Why? Tom Page, one of the two Founders of Foxtek, explains: “the reason we hire graduates or young professionals in their early 20s is that we like to train individuals in our methods right from the start.”
“We’re trying to disrupt the recruitment market. It’s therefore easier to hire young professionals who are coming into the industry with no preconceptions or perceived way of doing things, and then teaching them our way of doing recruitment.”
“As a management team, our background has also been taking graduates with no industry experience and teaching them how to be successful in recruitment so this very much plays to our strengths.”
Of course, this doesn’t come without its challenges…
“When we speak to potential new hires, more and more of them are saying they want support when it comes to improving their financial knowledge and overall wellbeing.”
Lack of financial knowledge in young professionals
Tom continues: “we’ve got a number of young individuals working at Foxtek who have not been educated on good financial practice. This should be taught in school but, unfortunately, it isn’t.”
“If successful, our staff can fortunately do well financially, and we feel a responsibility to make sure they get education and support on what to do with that money because ultimately they’ve worked really hard for it.”
In a bid to educate staff on what financial best-practice looks like, Foxtek started exploring financial wellbeing solutions to help their team, and this included Bippit.
“We looked at other providers in the market, but what we liked about Bippit was the user interface. It grabbed us more than any other product,”
Attracting new talent and giving them the benefits they want
The competition in the market to attract the best talent is fiercer than ever, which is why having a compelling offering (beyond just a salary) has become so important for business leaders. This is something the Founders of Foxtek have seen first-hand.
“When we speak to potential new hires, more and more of them are saying they want support when it comes to improving their financial knowledge and overall wellbeing. My business partner and I have been managing young professionals for a while, and are seeing a trend towards a real desire for this support.”
“I think graduates are a lot more mature now. Financial best practice is something that’s increasingly being talked about when discussing personal growth goals with staff.”
“When you merge this with the responsibility we feel towards our staff, getting financial wellbeing support from the professional coaches at Bippit was a no-brainer.”
What attracted Foxtek to Bippit?
Bippit’s financial wellbeing platform gives every employee access to a 1-1 financial coach. Someone with professional qualifications, who has trained for years and helped people for years. Alongside this expert guidance, employees can learn from impartial resources and plan with powerful financial management tools. All via platform that’s intuitive and simple, and available on desktop or app. This is what Foxtek was looking for.
“We looked at other providers in the market, but what we liked about Bippit was the user interface. It grabbed us more than any other product,” says Tom. “Despite working in different sectors, it feels like both Bippit and ourselves are approaching things in the same way.”
if you’re looking for a product that’s going to engage people (especially younger talent), Bippit is the best solution on the market.”
“Let’s face it, financial information can be quite a dull topic. But everything on the Bippit app is modern, and really interactive. It’s very visual and similar to other popular solutions which helps get buy-in from staff.”
“Younger professionals are quick at judging whether they like a product or not, so it has to engage them, and Bippit does a great job at that. We think our people will really get something out of it.”
What Foxtek hope to get from Bippit
Keeping staff happy and making them feel heard is key to retaining them and combating both the Great Resignation and The Cost of Living situation. When you consider that 81% of millennials want to work for a company that cares about their financial wellbeing, it’s no wonder why platforms such as Bippit are becoming increasingly popular.
As Tom describes: “good financial wellbeing is important at both a company and individual level. Based on what we’ve seen of Bippit so far, if you’re looking for a product that’s going to engage people (especially younger talent), Bippit is the best solution on the market.”
Supporting your own people
Want to improve your team’s financial health? Book a free Financial Wellbeing Lunch & Learn for your workplace.