Yoyo Wallet is the fastest growing and largest multi-retailer mobile wallet in the UK. It recently won Retail Systems' 2015 Mobile Technology Solution of the Year. Last year, Yoyo participated in Pitch@Palace, an initiative run by The Duke Of York to support early-stage entrepreneurship, with the app collecting two out of the three awards, including ’Best Pitch’ and ‘Most Innovative Idea’. In July 2014, Yoyo was named as one of the Top 10 hottest startups in London by WIRED UK magazine.
Yoyo is a rapidly growing start up with an increasingly global presence. In October, it was forced to give notice to its new Executive Assistant. With a busy schedule and Christmas looming, a personal connection put them in touch with FYXER.
Our initial sales conversation identified that Yoyo Wallet had deficiencies in the following areas:
Hiring - With the company set to unleash its product onto the high street in October, an immediate need for assistance was identified. However, the impending deadline did not leave time to recruit the right Executive Assistant (EA) while staying on top of costs.
FYXER hires under 1% of candidates who go through a 5-step process over a 2-month period.
Leadership - Setting objectives, including the measurements for defining them, is a time-consuming, but essential process to success. An EA answers to the CEO, but given that is usually the person with the most sought after time in the organisation, a company may look to devise a leadership piece to ensure it runs a well-oiled machine in administrative efficiency. Due to time constraints, Yoyo was unable to formulate one and ultimately needed an out the box solution.
Platform - During a busy Christmas period, Yoyo needed consistency from the FYXER team to deliver every working day over the holidays, as the company had been left in the lurch when a full-time employee had taken holiday leave'.
Hiring - FYXER was able to get set up within a week.
Platform - FYXER provided service every working day over Christmas.
Yoyo spent £1800 per month with FYXER. Since starting with us in October the company has spent £9000.
Salary costs (Inc NI) for Assistant of similar quality:
- £16,130 Holiday cover @ £100 per day - £1500
- Total - £17,630
- Recruiter cost (due to the time sensitive nature of the work) - £7,000
FYXER was able to offer a more tailored, consistent solution at a price that saved Yoyo 55% in hard costs alone.
Hiring: In our initial calls, Yoyo CEO Alain identified the need for an understanding of the start up world and all that is unique to it. The Fyxer we chose for Yoyo was Nirupama de Silva. Niru has a wealth of experience working with companies at Series A stage. Having been the EA to the CEO of Import.io for almost 4 years, Niru hit the ground running.
We spent time with the former Yoyo Executive Assistant in order to secure as much information on Yoyo as possible. We thus ensured a smooth transition, while expending minimal time from the client.
Leadership: We identified the need for a leadership piece from FYXER.
In order to best utilise the Yoyo team’s time, Alain had bi-weekly calls with our Customer Success team. The team would then take his feedback and action it with the relevant party.
Consistency: Niru was away between the 4th-19th November. FYXER was able to deploy a former Balderton Capital EA in her place, securing seamless and continued understanding of the space Yoyo were operating in.
Indeed, over the Christmas period, Yoyo’s usage didn’t dip and FYXER provided support over every working day.
Europe’s fastest growing mobile wallet, Yoyo needed an experienced Executive Assistant to seamlessly slot into its team before a frantic Christmas period.