Fueling Business Success through Employee Feedback
“When you invest in your people, the returns are astronomical. In 2020, our employee engagement score placed us within the top 20% of companies worldwide. This was reflected in our business results: we ended the year with double the registered users and astounding growth in overall payment volumes. Our people stayed true to the course. »
Carla Lanza, Chief People Officer, PayMaya
PayMaya is the Philippines’ leading digital financial services company with platforms and services that cater to consumers, enterprises and the government. As of March 2021, PayMaya counts over 35 million registered users, about half of the Philippine adult population, served by its consumer platforms. It enables over 165,000 merchant touch points to accept all types of cards, as well as e-wallets. It has the widest number of digital payment touch points at over 250,000 where people can pay for transactions, add money, send money, cash out online and onground – 7X than the combined network of all banks and ATMs in the Philippines.
PayMaya believes that its business success comes from its commitment to listening intently to what people need and then acting on it. This mantra guides PayMaya in its daily interactions—externally, with its partners and customers, and internally, with its employees.
Before partnering with Glint, PayMaya was running weekly employee surveys. The company has understood that surveys are a treasure trove of insights that provide a snapshot of employee engagement and morale, as well as fresh ideas and new perspectives. For this reason, it built many open-ended questions in its surveys, but this meant that its team was left with the challenge of making sense of large amounts of qualitative feedback.
In 2019, PayMaya partnered with Glint to tackle the company challenge and take its employee feedback system to the next level.
Working with the Glint team, PayMaya decided to reduce the frequency of its employee surveys from once a week to once a month. This would allow time for the company to develop necessary interventions and measure the effectiveness of these actions. At the same time, to maintain open channels of communication, PayMaya made sure that its employees knew that they could continue submitting ad-hoc feedback anytime through Glint’s 24/7 channels.
These copious amounts of feedback are analyzed, in real time, by Glint’s People Science Team. The team then provides key statistics as well as insights in the form of potential opportunities, predicted risks and recommended actions.
At PayMaya, access is granted to managers and leaders so that they have dashboard visibility into what their people are thinking. Glint also allows them to work collaboratively, directly within the platform, in formulating their next steps.
Meanwhile, the PayMaya team continued to closely monitor survey insights at an organizational-level. Whenever a dip in any engagement category was recorded, they would quickly address this by building and sharing content from Glint’s knowledge library. Because Glint indicates the relative importance of each engagement category, the team is able to prioritize its actions accordingly.
PayMaya’s commitment to listening intently and acting immediately is keeping its employees highly engaged. At the end of 2020, the company’s engagement score was an impressive 80, which is a percentage higher than the top 20% of companies worldwide.
For the company, this score proves that it has been successful in supporting its employees through the changes of 2020 and that employees still find deep purpose in their work despite the challenges of remote work arrangements. Carla Lanza, PayMaya’s Chief People Officer also believes that this has had a direct impact on business performance. In 2020, PayMaya doubled its registered users and recorded tremendous growth in overall payment volumes, which would not have been possible without a highly productive and deeply engaged workforce.
“It is not an exaggeration to say that employee feedback helped us become the top digital financial services company in the country. Our employees know that we listen and act on their feedback. By speaking up for themselves and on behalf of our customers, they see their individual footprint in the impact that PayMaya makes on the community. This has an enormous impact on employee engagement, which in turn fuels productivity, performance and business results,” shared Carla.
Moving into 2021, PayMaya has increased the weightage of its employee engagement score on its Objectives & Key Results (OKR) from 15% to 20%, signaling the company’s conviction that business success is truly built on people success.
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