Hastee leading Europe salary demand company - The Spaniard led by Hastee, the leading company in Europe in salary on demand, reveals that financial health is a global trend that helps attract talent and improve productivity.

The relationship of employees with their companies is changing profoundly, at a time when many companies are striving to offer more advantages and stability to their workers as a way to attract and retain talent within their workforce. A good example of this is the launch of proposals that focus on offering extra incentives to employees, such as access to real-time salary, benefit packages or new forms of savings or financial education.

Thus, in recent months new initiatives in this regard have been unveiled by local startups, such as Payflow or Cobee, and foreign ones, as in the case of Wagestream. Also already established companies, such as the British fintech Hastee, a pioneer in Europe in offering access to salary on demand, which has just announced the appointment of a new CEO, the Spanish Jaime Jiménez, to lead its international expansion after establishing itself in the United Kingdom, Spain, Portugal and Italy

Jiménez heads the English company just 6 months after Hastee bought Typs, the Barcelona startup focused on financial social benefits for employees that he had co-founded in 2019 with Ernesto Bernadó, Juanjo Domínguez, Marc Rubiño and Gabriel Rosiñol, an acquisition with which the British company became a leader in its sector and after which it has placed Barcelona as the central hub of its operations.

Hastee leading Europe salary demand company

"This involves an extra motivation, I was absolutely motivated with Typs and with what we were getting and what we had as a mission, and the power to unite with Hastee and then take the reins of the project at the global level, there is a lot of energy and eager to make this vertical eclosione," says Jaime Jimenez, highlighting the ability of the fintech to accelerate the penetration of your product into more markets and companies.

In particular, Hastee's CEO says that its expansion in Western Europe is underway, with upcoming openings in France, Germany or Poland, but notes that they have also opened operations in Colombia to begin expansion to Latin America, in addition to starting its implementation in the Gulf countries and having an eye to the start of its operations in Southeast Asia for 2022.

Hastee leading Europe salary demand company: "We are a global solution, we have many customers and most of them are multinational, almost all of them, starting with one country is the way to start this relationship with us, but quickly we are already in conversations with the rest of regions or countries in which they operate to launch the same product for those workers," she explains, noting that this global footprint allows them to capitalize quickly his relationship with the companies present in many countries.

Regarding the type of companies that use its services, Hastee CEO details that work 15 different verticals and both with large companies, of which he assures that they have more tendency and capacity to innovate in this field, as with others with between 500 or 2,000 employees, with less experience in human resources but greater proximity to their employees. "The market has grown from all angles at once," he says.

Hastee leading Europe salary demand company

Jiménez confirms that interest in workers ' financial health is already a global trend. "We have a product that, in the eyes of the world with which we speak, it is very necessary, very disruptive and very welcome, especially after the months of pandemic, in which people has seen as it has affected economically to the family unit or the people nearby," explains, stating that the pandemic has accelerated trends that were already working.

"When we started with Typs we were pioneers in Spain, Hastee was a pioneer in the UK since 2017. We are, however, 3 or 4 years behind US, where these solutions are much more common in any size of company, but especially in the largest", says the CEO of Hastee, specifying that in Europe, the impact of the coronavirus has served to make more tangible the concern of companies for the mental and financial health of their workers.

"More than 2 thirds of workers have mental health problems related to financial stress, according to Ernst & Young, you have studies from PwC, ADP, Visa that talk about the cost that financial stress has for companies, which causes absenteeism, turnover,...", says Jaime Jiménez, explaining that financial health has become a priority, which has generated opportunities and requests for collaboration from many companies.

Hastee leading Europe salary demand company: The benefits of Hastee, its CEO revealed that one of the main is the talent acquisition and explains that 81% of employees highlights the flexibility in pricing as a key reason to choose a new job and that the job offers that include access to low-wage demand have grown 2000% in the last year. "This data makes us see that it is a benefit that companies are using to attract and is one of the pillars on which we support our message to companies," he adds.

As for talent retention, Jiménez points out that its advantages are obvious. "There is a very clear reduction in absenteeism ratios, a 12% reduction in absenteeism due to illness, which reflects the PwC study. We have a number of clients who give us testimonies that since they have implemented Hastee they have 72% more requests for shifts to complete a day and salaries for the agility and ease of doing so through the application," he details.

Hastee leading Europe salary demand company

Therefore, Jaime Jiménez affirms that generating engagement with employees is another of the pillars of his proposal. "The issue of retention is basic, the cost of losing a person is very high for a company, and 77% of our users say that since they have Hastee they are happier and are more linked to the company," he says, stressing that this link grows in the same way that financial stress decreases because the company cares about the well-being of its employees.

"These data are very basic, very drawer, but that not everyone could clearly see a few months ago and now affecting the whole world," says the CEO of Hastee, who explains that his solution consists 3 pillars, the access to liquidity through an app and a debit card that offers the wage up to date, which is the basis of its proposal, in addition to the savings gamificado and stimulated with discounts and cashback and financial training.

"We were the first to launch a financial education module, which I think is the best, through a partnership with the Nudge Global, a specialist company who are leaders in absolute in the world in providing financial education to large companies, and its platform is integrated in the application of Hastee," she says, explaining that their users have access to this training customized to the profile of the user.

"It is a very dynamic and very simple and very adapted to the capacities of each one so that the financial literacy of workers is growing, with the main objective of that future have less liquidity problems, which have a greater knowledge of what type of financial products or what kind of financial needs they face, they know your situation and they can improve in the future," he says.

Hastee leading Europe salary demand company: Jiménez believes that this education is key to breaking the cycle of poverty, which ensures that before the pandemic already affected 50% of workers in Spain. "We have to try as a company, from the most ethical and moral part of this solution, to help," he explains, assuring that the pandemic has blurred the line between personal and work life, so that companies have the need to positively impact the lives of their workers.

As for how workers resort to their solution, Jaime Jiménez reveals that there is a greater use the smaller the size and greater the temporality, as in the case of delivery, allowing workers to enjoy their salary immediately after finishing their shift. However, it highlights the differences between countries. "Spain, the United Kingdom, the US, Mexico or Colombia have a more hasty mentality," he says, distinguishing them from the Nordic countries or Germany.

As for what will be the new horizons of his sector, Jiménez focuses on access to financing and the role that companies can play to help their employees get it in better conditions than they would get on their own, thanks to the work relationship, so he foresees that companies will play an increasing role in the financial life of their employees, although he says that it remains to be discovered how that role will be conveyed.

Hastee leading Europe salary demand company

The CEO of Hastee points to the good moment his company is going through. "We are in a wonderful first half of the year, we have doubled our user base in 6 months with more than 400,000, we have a book of contracts signed to launch that makes us multiply by 5 the volume we had at the beginning of the year," he explains. In fact, Hastee is no longer a startup with 250 million euros and a reach of more than 110 million workers by integrating with more than 50 payroll software.

"The fact of having been named at this time the CEO of the company, to be able to capitalize on all of that growth, it makes me think that there is a part of Typs in this success and help this new wave of startups and entrepreneurs spaniards to throw some barriers," she says, alluding to the difficulties administrative, finance and mindset for business development and talent management in Spain.

Hastee leading Europe salary demand company