What does Hibob do?
Hibob is a cloud based People Management Platform to sort all the people stuff for smart modern businesses. Sorting HR Admin, Benefits (including Auto-Enrolment) and Engagement.
How did the idea for business come about?
We realised there was a huge gulf between how most businesses were managing their people and the capabilities of modern technology. We asked: Why are 90% of small & medium-sized businesses only using spreadsheets (and lots of them) to manage all their people admin? Whilst at the same time Government policies are highlighting the need for businesses to deliver benefits to their staff – particularly pensions with the introduction of the Workplace Pensions Act.
Our vision was to solve these two issues by creating a single beautiful platform that people would actually want to use.
When was the company first established?
How is the business doing?
Incredibly well, within 8 months we have raised $7.5m of seed money; hired over 40 people; opened two offices; launched our beta product; launched the brand with nearly 100 pieces of media coverage; and, have over 300 companies registered. We are winning customers from some of the most successful and awarded software in the market and we are already revenue-generating.
Since the company began, what has been the biggest challenge?
Figuring out what not to do. This is a huge sector with huge opportunities. Every time we meet a new customer, their eyes light up and then say “WOW… can it also do this? … are you selling these benefits?” Yes and Yes… but it might take a little time.
What makes you stand out from your competitors?
Three fundamental things help us to really stand out:
- The integration between HR & Benefits. We are making it incredibly easy to deliver the right benefits for your company, in the simplest and most efficient way for the business. That’s also whilst delivering benefits in the most visible and engaging way for your staff.
- An emphasis on brand, user experience and design which is more akin to a B2C brand than a B2B one. This means that businesses and their staff are more like to use and engage with the system.
- Delivering staff retention through a greater understanding of company cultures. Hibob allows businesses to shine a light on, and nurture, the natural cultures that exist in a business. We have found that cultures, or what we call ‘Clubs’, play a huge role in building a greater sense of belonging in a business. Greater belonging = greater staff happiness = great levels of retention.
What’s been your best business decision?
What a tough question. So many decisions, some good, fewer bad. But I think at the end of the day, we’ve made 40 great business decisions in hiring our 40-strong team, and each one of them is helping us build an amazing business and culture.
What is next for Hibob?
GROWTH: In product, in customers, in staff, and in potential. We are only at the tip of the iceberg with how we can help UK businesses to be better, and we’re super excited to get there.
If you could help one business now with a single piece of advice, what would it be?
Of course there really, genuinely is only one piece of advice I can give any business. If you want to Sort your HR, Benefits, retain staff for longer, and save loads of time and money; use Hibob!
Finally, what is your favourite biscuit?
Milk Chocolate Hobnob. But it’s not singular ‘biscuit’ I’m afraid, it’s the whole packet in one sitting.