Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Xiggit Unveils First-of-a-Kind Solution to Help SMEs Offer "Large Company Benefits'' to Full-time, Part-time, Contract or Gig Workers

Fintech Startup Reflects Shift in Power That Give Workers Personalized, Portable Benefits


News provided by

Xiggit

May 18, 2021, 08:10 ET

Share this article

Share toX

Share this article

Share toX

Xiggit Inc. logo
Xiggit Inc. logo

PALO ALTO, Calif., May 18, 2021 /PRNewswire-PRWeb/ -- Xiggit, a next-gen fintech startup modernizing benefits, formally unveiled its solution that delivers for the first time benefits down market. Xiggit's new offering helps small and medium-sized businesses (SMEs) offer workers a broad set of high-value financial benefits. Xiggit is the first and only provider to offer SMEs a simplified provision of benefits that requests employers set a budget for employees. With Xiggit, employers with low budgets can offer "large company benefits'' to all workers, whether full-time, part-time, contract, gig worker or other classification. Xiggit reimagines the concept of 'cafeteria-like benefits,' blazing a new trail with plans to roll out an innovative approach that will provide a full buffet of benefits to help SMEs improve the financial wellbeing of their workers.

Approximately 30 million SMEs employ 50% of workers in the U.S., yet SMEs can't compete with big company perks as their limited budgets narrow the benefits options they can offer. With financial stress at an all-time high, employers are looking for ways to differentiate. In lower wage, service-based jobs, benefits are vital. When employers can provide a broad array of high-value benefit choices to all workers, they improve their ability to recruit and retain staff. Nearly 63 million Americans neither have access nor participate in employer-sponsored retirement plans, especially part-time workers and smaller firms' employees. When workers have access to automatic payroll-deduction-based retirement programs, they're 18 times more likely to participate.

“We switched from offering a 401k to Xiggit, and that has been a game-changer for us. Our experience with the 401k was horrible. Xiggit’s solution is low-cost, easy-to-use and shoulders the administrative burdens for us,” said Bruce Watkins, Founder and CEO of Cal Preserving.

Post this

More than 100 million Americans have no retirement savings and face a retirement crisis. To address this catastrophe, state governments are interceding. Ten states have enacted state mandates for employers to provide employees with a long-term retirement savings plan. Millions of SMEs face a compliance deadline. In California, private sector employers with 50 or more employees have until June 2021, and employers with five or more employees have until June 2022.

Xiggit's Solution: Personalized, Portable Benefits with Incentivized Financial Education
Xiggit has an online portal for businesses that takes minutes to fill out. From there, workers get a message to download Xiggit's mobile app that they'll use to choose and manage their benefits. Portability gives workers benefits that they can keep for their entire career, helping them build their financial security even when they change jobs. Xiggit's solution provides:

  • Professionally managed Traditional or Roth IRA: Critical retirement savings can start accumulating when workers have small contributions transferred from each paycheck into a retirement account.
  • Savings account: Auto-deductions help workers save up for an emergency fund, car, vacation, etc.
  • Xiggit Boosts: Workers have an opportunity for wealth acceleration through grants offered in Xiggit Boosts' daily "Learn 'n Earn" game. Available in Xiggit's mobile app, Xiggit Boosts incentivizes workers to learn, save and adopt better money habits. Employers win because they realize an increased ROI for their benefits investment with increased employee engagement while costs remain low.
  • Financial tools: Personalized financial guidance to help workers learn the money game and improve their financial literacy and wellbeing. Financial tools include goal-setting, retirement and savings calculators.

"We switched from offering a 401k to Xiggit, and that has been a game-changer for us. Our experience with the 401k was horrible. Xiggit's solution is low-cost, easy-to-use and shoulders the administrative burdens for us. We're delighted with Xiggit and most of our employees use and enjoy it. Some of them can't believe how fast they've been able to grow their savings. Our workers are improving their financial literacy and that makes them feel more secure," said Bruce Watkins, Founder and CEO of Cal Preserving.

SMEs now have an easy way to offer valuable benefits without impacting their bottom line. Xiggit handles the benefits administration for employees, reducing the administrative burdens on employers. The employer and Xiggit work together to communicate the value of the benefits to workers. Employers increase engagement and loyalty through Xiggit's "Learn 'n Earn" game that improves employees' financial literacy and wellbeing. As employees improve their financial wellness and confidence through the employer's benefits, their loyalty and retention increase, improving the employer's bottom line. Using Xiggit, employers forge deep bonds by helping employees achieve their most important financial goals together -- reducing their financial stress.

"Xiggit is shifting the power of choice and portability to workers. Now SMEs can offer all their workers high-value benefits with choices that count. Workers select benefits that matter to them," said Co-founder and CEO Heather Dawson. "Xiggit is also raising the bar in helping SMEs offer personalized financial tools so workers can improve their financial resilience."

About Xiggit
A next-gen fintech startup modernizing benefits, Xiggit aims to help small employers ease employees' financial stress. The company disrupts the market, delivering benefits down market for the first time. Xiggit helps employers with low budgets offer workers a broader set of "large company" financial benefits without the administrative burdens. Xiggit's solution shifts the power to workers, allowing them to select only the benefits that appeal to them. Xiggit represents a new alternative to inadequate piecemeal solutions or exorbitant bundled benefits that eliminate small businesses' ability to offer workers any benefits. Based in Palo Alto, CA, Xiggit Inc. is a privately-held company. For more information, visit http://www.xiggit.com.

Media Contact

Carmen Hughes, Ignite X, +1 (650) 576-6444, [email protected]

SOURCE Xiggit

Related Links

http://www.xiggit.com

Modal title

Xiggit Boosts App Tour
Xiggit Boosts App Tour
Xiggit Boosts App
Xiggit Boosts App
Xiggit gamified financial education tool
Xiggit gamified financial education tool
Xiggit Boosts App Tour Xiggit Boosts App Xiggit gamified financial education tool

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.