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Defining purpose is key to success of Southeast Asia’s fintech companies
Fintech start-ups in Southeast Asia can look to FAANG values for modeling their core culture and drawing the best talents that are key their success.
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Illustration of fintech lending (JP/Swi Handono)
W
e often hear talk of Google fitting its offices with nap pods and giving out free meals, or of Netflix’s “no rules” philosophy, giving its staff no dress code, supposedly unlimited vacation time and even a potential promotion for criticizing the business.
But let’s be real. These shiny bells and whistles are designed to project a public image of a wonderful company culture. In reality, an organization’s true culture is far less tangible and not really about office perks at all.
While savvy tech talent usually understand this, the fact remains that snagging a job at a FAANG (Facebook, Amazon, Apple, Netflix, Google) is a dream come true for many.
These household names, these brands are among the top-performing tech stocks on Nasdaq, so they offer relative career stability and at the end of the day, promise a healthy, collaborative and innovative workplace culture. This is a draw for awesome talent.
Compared to their traditional counterparts, FAANG work hard to position themselves as companies that focus on employee engagement and welfare. This is meant to foster organization-wide cultures of creative problem solving and teamwork, which theoretically helps them stay ahead of the curve in the fast-evolving tech industry.
One important thing to note: These industry powerhouses were already thriving before COVID-19 and managed to come out the other side stronger or relatively unscathed. This is interesting, as we’re also witnessing an unexpected byproduct of the pandemic in the form of the “Great Resignation”.
As tech giants, these companies exemplify core culture values that any company can benefit from. A big part of their philosophy is fast and perpetual experimentation, even if it’s a departure from an employee’s job description.
