Case study

How A High-Growth Fintech Startup Saves $10K Per Hire With Built In

forward financing logo

Forward Financing: Provider of working capital for more than 23,000 small businesses across the nation.

Boston, MA

Location

Founded In
Partner Since

11%

Of 2019 Hires from Built In

The Challenge

Despite its rapid growth, Forward Financing has maintained a tight-knit company culture, fueled by passion and a shared mission. However, as part of the flourishing Boston tech community, the team struggled to stay top of mind among candidates. “In Boston, hiring tech candidates is incredibly competitive,” says Lauren Melaugh, marketing associate at Forward Financing. 

 

“Many candidates really didn’t know who Forward Financing was and what made us different from the many other tech companies in the community,” adds Melaugh. To attract the passionate tech talent they desired, Forward Financing needed to distinguish itself from the saturated  marketplace. 

 

The team looked no further than Built In Boston. “Other platforms attracted candidates by a job title and description, whereas Built In provided a lot more color,” says Melaugh. “It has been an incredible resource for us to help tell our story.” 

 

Prior to its Built In partnership, Forward Financing generated candidate enthusiasm during in-office interviews. “Since working with Built In, we engage candidates much earlier in the recruitment process. Candidates are coming into the first-round interview more informed and excited about Forward Financing,” says Melaugh.

Built In provides candidates with an authentic lens into our company and really helps us tell our story.” 

Lauren Melaugh

Marketing Associate

The Solution

In 2019, Forward Financing partnered with Built In to elevate its employer brand and increase awareness. Since then, the team has experienced a boost in candidate quality. “Built In frequently updates their website with interesting, engaging content that has such an energizing vibe to it,” says Melaugh. “It allows us to attract the passionate, mission-driven candidates we want on our team.” 

 

Not only did Forward Financing notice better candidates in the pipeline, it also saw an uptick in applications. When the team was recognized as a top employer in Boston on Built In’s Best Places to Work 2020 list, significant results also followed.  

 

“Being recognized on such a prestigious list helped us attract the candidates we’re looking for,” says Melaugh. “Candidates were really excited about Forward Financing when they saw us in that article.” 

The Results

The high-growth fintech startup hired 59 people in 2019,  11 percent of whom initially learned of Forward Financing  through Built In. Melaugh attributes this success to  its engaging company profile on Built In: “It provides  candidates with an authentic lens into our company and  really helps us tell our story.” 

 

The partnership has transformed the team’s recruitment  strategy. “Before Forward Financing partnered with  Built In, we were mainly sourcing through referrals and  more expensive platforms that were simply attracting  candidates by job titles,” says Melaugh. “With Built In, we’re attracting candidates that are excited about our  mission and values.” 

 

On top of that, Built In has been a significant cost-saving  strategy for Forward Financing. “Candidates that find us  through or were influenced by Built In save us about $10K  in cost-per-hire agency fees.” 

 

Forward Financing also appreciates the community  Built In has created. “Since Built In works with a lot of  successful and fast-growing businesses across Boston,  we’re in great company,” adds Melaugh. “Having the  stamp of approval from Built In Boston means a lot to us.”

Source

11% of hires came from Built In

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