Bagging yet another award, Mynt (Globe Fintech Innovations Inc.) credits its success as an employer to the inclusion of treasured Filipino values in a dynamic corporate setting.
Mynt, which runs the Philippines’ leading mobile wallet app GCash and other fintech solutions, was recently named as one of the Philippines’ Best Employer Brands at the 14th Employer Brand Awards hosted by the Employer Brand Institute-India, World HRD Congress, and Stars of the Industry Group.
According to Nico Mallillin, chief employee experience officer of Mynt, the key drivers of the company’s staggering seven-fold manpower growth in a span of three years was its ability to forge the best corporate practices with the agility of a startup and to include the Filipino brand of “malasakit” in the company’s core values.
“People understand ‘malasakit,’ and as a Filipino company, we take pride in having that particular core value, even as we are in tech. There is still ‘human’ in the part of human resources, and a human part of being a tech company,” Mallillin said.
Since 2015, when Mynt started out with 100 employees, the company has enjoyed a high referral rate, which Mallillin said was proof that “our employees are our greatest ambassadors of who we are as an organization.”
In 2015-2016, 80% of all new hires at Mynt came from employee referrals.
“Our organizational culture is more community-like. We believe in the saying that we want to do something that we all love, working with people we like. It’s something that has always resonated with us, even with our leaders,” said Mallillin.
“The way we have been thriving as an organization is having strong relationships inside the organization. More than just being colleagues, we build friendships, and we enjoy the fact that we share the same vision for the company and the nation to achieve financial inclusion,” he said.
The community approach has also helped address critical issues in talent development, such as managing and retaining employees. Given the company’s young workforce who seek meaning in their jobs, the sense of community in the workplace creates a bond among individuals with the same passion and drive to make fintech a successful industry in the Philippines.
“People, particularly millennials, are attracted to our advocacy of financial inclusion. They want to join that journey to achieve and create that future. That’s what we offer as part of the job and as a reflection of who we are as an organization, which is more than other things that people usually look at like perks and benefits,” Mallillin said.
This has eased usual employer concerns on retaining talent. With regrettable attrition—those employees that a company does not want to leave—at single-digit percentage, Mynt has kept its high-performance culture, where the organization’s annual goals are aligned from the leadership down to the last individual.
“On the pay side, we’re practical about it and we give what’s necessary, but I think what makes it difficult to leave Mynt is really the relationship you build inside the organization, and the fact that what you are trying to do now is something that’s very aspirational and can be your legacy in the company,” Mallillin said.