Paytient: Creating an engaging candidate experience at Paytient

Summary Key Wins Background Challenge Solution Looking Ahead

Summary

Paytient sought to create a powerful candidate experience that illustrated the upside opportunity for early hires.
The company wanted a visual equity feature for modelling the growth potential of joining a fast-growing startup, as well as education for candidates who were new to the world of startup equity.
With Pave’s Visual Offer Letter, Paytient creates compelling offers that provide maximum visibility for equity, better reflect their corporate brand identity, and help showcase their values and commitment as a ‘people first employer’.

Key Wins

100% close rate to date with candidates using the Visual Offer Letter.
Created a consistent offer package and brand identity, with the flexibility to customize candidate terms where necessary.
Streamlined communication with candidates, saving time while closing faster and increasing efficiency.

“We want to make sure we’re presenting ourselves and the opportunity in the best way possible. Pave helps create a visual understanding of the potential value of their equity if we’re successful in our mission of helping people better access and afford care.”

Brian Whorley, CEO

Background

Paytient is an employee health payment platform focused on improving “wellth” by offering pre-funded payment cards employees can use to pay for health care expenses on a swipe-by-swipe basis. Since its founding in 2018, the company now serves hundreds of thousands of people across the country, enabling them to pay for medical, dental, pharmacy, vision and veterinary care while saving employers money.

Challenge

After raising a recent round of venture funding, the remote company with roots in Columbia, Missouri set off to put that capital to work investing in their “people, product, and pipeline”. The “people'' component was an especially high priority for CEO Brian Whorley, who is focused on hiring the best talent, wherever they may be located. More specifically, he wants to hire those top candidates who share their conviction for helping people better afford and access care in the future.

In order to attract the best, Brian and his team wanted to ensure the opportunity at Paytient shines through in every detail of their offer, including the salary, equity, benefits, as well as how all of that information was packaged & presented. With a fast scaling team, Paytient was focused on eliminating the manual work of maintaining consistently branded offers.

Paytient needed a tool that could help them uplevel their recruiting flow in two key ways:

The company was hitting a wave of massive growth (headcount had tripled in 6 months) and needed a scalable solution that best communicated their offer to top applicants.
Candidates had varying familiarity with the world of startup equity, and Paytient needed a platform that accommodated both the savviest applicants by showing the powerful upside of their stock’s growth, and inexperienced folks who needed more built-in education to understand their offer.

Solution

After choosing Pave’s Visual Offer Letter, the company saw the following benefits and results:

100% close rate when the Visual Offer Letter was used in the hiring process.
Consistency in offer packaging and brand identity, with the flexibility to customize terms where necessary.
“competitive edge” when recruiting talent for hard-to-fill leadership roles.
Less “back-and-forth” communication with candidates, allowing the team to close faster and increase efficiency.

Even amidst the company’s recent growth, Paytient knows hiring the right people, especially those who align with their mission, is critical to long-term success. The company wanted to be able to help candidates better visualize this potential upside: something Pave is perfectly suited to help with, as Brian mentions “we want people to work here because what we’re working on is a big and important problem, and Pave helps us to convey, on a very personal level, that it can be a very valuable problem over the long term.

Looking Ahead

Looking to the future, the Paytient team is excited to roll out Pave’s additional tools to support growth. In dynamic times such as the Covid-19 pandemic and the shift to remote work, hiring and retaining the best talent becomes even more important. Paytient sees Pave as a key part of their growth story, that continues on even after candidates join the company.

Brian is specifically excited about Pave’s Compensation Benchmarking, which will enable them to make market driven compensation decisions based on real time data. This benchmarking will help to map these new roles to budget, assisting the company to achieve their corporate goal of “keeping up with or being ahead of the curve” when it comes to compensation.