A British entrepreneur has launched a social impact company The HUG Agency in partnership with His Highness Sheikh Saqer Bin Mohamed Al Qasimi private office in Dubai.
"We are launching recruitment agencies globally which gift 100% net agency fees back to the worker and society" says their founder, Ian Seddon. "We can help countries strengthen their economy, reduce social tension and reduce inequality by giving families free financial assets.
“The more we can give to society, the more our impact investors are rewarded, so everyone benefits". The recruitment industry market exceeds $400 billion annually but rather than giving cash, HUG will give workers free financial assets (Tesla shares, Amazon shares, Bitcoin...whatever they choose).
The assets, worth on average $3,000 per job placement, are released gradually over 24 months, so the recipient builds wealth and security whilst receiving free financial education via a digital wallet. But it's not just workers who will benefit. Businesses won't pay higher fees and they will get happy staff incentivised to stay for at least two years (while their free assets accumulate). If the worker does leave, the hiring business gets a 50% refund of the remaining balance.
Businesses can promote their ESG credentials, proving they support society and in future HUG will help smaller firms administer staff incentive schemes. It's a great way for businesses to gain customers and to retain them, especially as we inject more free wealth into the next generations.
HUG never risks the investments they allocate to workers and have modelled how they can still produce a great, long-dated return for impact investors or philanthropists. "Basically, we're really a fintech which is taking stewardship of the recruitment market because they have failed to innovate for decades." says Ian.
"We're introducing better technology so users can control their own data and for every 250,000 jobs we place, we forecast $1 billion assets under management which will give $600 million to families and $400 million to society".
HUG are planning to launch in the UK, USA, Europe and Australia this year and their Sovereign partners in Dubai give excellent opportunities for growth in MENA. Businesses, families, governments, investors and the global economy... everyone benefits when we recapitalise society.