SoFi (short for Social Finance, Inc.) is a digital personal finance company on a mission to help people achieve financial independence. With offices located in Salt Lake City and Cottonwood Heights, Utah, SoFi has been voted as one of Utah’s Top Workplaces 2022 in the category of large companies.
When SoFi first started in 2011, it began with student loan financing. Fast-forward 11 years, SoFi, now a public company, has expanded its product offerings to allow people to borrow, save, spend, invest, and protect their money all in one place.
SoFi is transforming the way people think about and interact with their personal finances. With many people reporting high levels of financial stress, which is often linked to a lack of financial literacy, SoFi is on a mission to provide its members with products, tools, and resources so that they can manage their money with confidence.
SoFi is taking the guesswork out of people’s financial lives so they can go on to live the life they want to live, reaching financial independence to realize their ambitions. Those ambitions can be different for everyone. For some people, it’s buying a house or a car, paying off student loans or credit card debt, saving for retirement, starting a family, investing for the future, or all the above! Whatever the member’s individual financial goals, SoFi’s mission is easy for employees to celebrate.
SoFi employees feel connected to the company’s values
SoFi has 11 core values, which are incorporated into company programming and resources. In today’s world, people want to feel a connection to the value system of the company they work for, and a lot of SoFi’s culture is centered around those values.
For example, SoFi has “Value of the Month” programming where each month, SoFi highlights one of its 11 core values, such as “Be Gritty and Accountable.” The company has programming that’s tied to how its employees can bring the monthly value to life at work and in their personal lives. In addition to SoFi’s values, SoFi employees are deeply committed to the company’s mission of helping people get their money right. People like to come to work every day knowing that what SoFi is doing has a positive impact on people’s daily lives.
SoFi’s focus on employee well-being and success
SoFi employees may come on board because they stand behind the company’s mission, but they also stay because of SoFi’s continuous focus on employee happiness and well-being. Throughout COVID-19, SoFi came to understand the importance of offering employees flexibility in terms of “where” they work. To that end, SoFi has a flexible and employee-first approach to the workplace, where employees work with their manager to determine if being in the office full time, remote full time, or a hybrid approach best aligns with their professional and personal needs.
Now more than ever as a company, SoFi believes that people are a company’s greatest differentiator. SoFi’s culture, its programs, all of its benefits and perks are around how they can take better care of their employees so they can bring their best selves to work—and flexible work is a big part of that.
SoFi also ensures employees have the time and space to give back to their local communities. SoFi Gives grants employees 16 hours a year to volunteer with organizations that align with the company’s mission. They also have SoFi Cares, which prioritizes employee’s mental health with perks such as guided meditations, in-office massages, and monthly catered lunches. The offerings are a great way to help employees find a sense of community, which is especially important within a hybrid work environment.
SoFi has two industry-leading career development programs—the first called “GROW,” a structured mentorship program for underrepresented employees. GROW matches employees with a leader at the company who mentors the employee with the objective of helping the employee develop and cultivate their own leadership skills, leading to career enhancement and advancement.
SoFi’s second career development program is called “Explorer,” a unique program that gives employees in SoFi’s Operations division (the employees on the phones, working directly with members each day), the opportunity to work on another team for six months. The objective: either the employee learns new skills and they return to their old job, or they transition into the new job full time.
Great health insurance is another attractive benefit of working for SoFi. One of the reasons SoFi was voted as one of the top workplaces is the company’s low to no-cost health insurance. SoFi conducted a series of focus groups, and when SoFi’s survey asked people about their favorite tangible benefits SoFi offered, almost everyone said they appreciated how low SoFi’s healthcare premium is, and how they don’t have to pay a cent for their family. SoFi also offers flexible time off, fertility and family planning options, and in line with their mission, they offer up to $200 a month for employees to pay off student loan debt.
Congratulations to SoFi for being voted one of Utah’s Top Workplaces 2022! Top Workplace nominations were gathered by The Salt Lake Tribune and collated by Energage, a Philadelphia-based firm specializing in helping companies recruit and retain top talent with culture. To check out SoFi’s careers, click here.