Meet Pete Hykin. A self-proclaimed “failed academic” who dropped out of university at the age of 19. Despite this, he found success in the world of business, starting his own company, Penfold, aiming to make pensions easier, more accessible and engaging so people save more. Within just a few years after its creation, it raised a £8.5M Series A funding round, became an accredited workplace pension provider, and currently has over £150M assets under management for thousands of customers.

In this episode, listeners can learn from Pete’s unique story and experience in the business world. From his failures as an academic to his successes as an entrepreneur and co-founder of Penfold. Pete’s journey is a great example of how non-conventional paths can lead to success, and his story is full of lessons and insights on how to overcome obstacles and make a successful company. He also shares the successes and failures involved in growing the business and how to pivot during the uncertainty of the pandemic.

Inflation is at an all-time high, growth is challenging and employees want more money. But companies struggle to provide financial support, especially in light of the current economic uncertainty. Employee financial well-being is a pressing concern and can affect productivity, focus, and job satisfaction. The pandemic has also changed the priorities of employees and what they value in terms of benefits and financial support.

In this episode, Pete will explore solutions for companies to support their staff in these difficult times. He’ll discuss the shift towards benefits packages that add value to people’s lives and highlight the importance of pensions and financial literacy. Your audience will learn actionable insights to create solutions for businesses of all sizes and understand the impact of current economic conditions on the employee’s financial well-being and how it can be mitigated.

The pension industry in the UK is broken, with 79% of Brits not on track for a comfortable retirement. Outdated technology and jargon-filled communication used by the industry have disengaged savers, with many employees not understanding the value a pension can and should deliver to them in the long term.

In this episode, Pete will share his take on how the pensions industry should evolve and explains the opportunity your pension scheme offers as a means of engaging and retaining your top talent. He will talk about how as a business, you should be caring about the experience your pension provider delivers to your employees, not just returns. He will discuss a new approach that shifts the perceptions of pensions as an irritating line in your payslip to a demonstration of your employer’s commitment to your financial well-being.