Shaping global leadership: Reet Virk throws light on Finvasia’s ‘people-first’ strategy

In today’s fast-paced, ever-changing corporate landscape, employee satisfaction and professional growth are more important than ever. This is especially true of the millennial workforce, known for its mobility and appetite for meaningful, career-defining experiences.

Recognising this, Finvasia – a multinational fintech powerhouse – has created a unique HR strategy that nurtures talent, fosters innovation and promotes intrapreneurship. Here, Reet Virk, Global Head of Human Resource Management, reveals what sets Finvasia apart as a global leader in its industry and employee development.

Moving beyond the corporate ladder

“Employee success is traditionally defined as simply moving up the corporate ladder,” Virk begins. “Unfortunately, due to organisational silos, broken communication lines and the lack of a clear roadmap, employees often find themselves stuck on the proverbial treadmill – to their own detriment and that of their employer.”

At Finvasia, however, the philosophy extends beyond mere upward mobility. The company has identified four essential pillars for fostering employee growth: fair remuneration, continuous learning, a clear growth roadmap and a cohesive work culture. These elements form the bedrock of Finvasia’s HR practices.

“We, however, strive to take it a step further by encouraging intrapreneurship,” Virk adds, with pride. “We provide funding and resources for employees who wish to pursue entrepreneurial ventures within the company. This positions us not just as an employer but as a launchpad for innovation and creativity.”

Cementing leadership in Europe

Finvasia’s European journey began in 2018 when the company made a strategic acquisition of a CySEC-regulated multi-asset fintech platform. This bold move laid the foundations for Finvasia’s expansion into Europe, a region that now plays a crucial role in the company’s global strategy.

“Finvasia boasts a diverse portfolio which, besides financial services and technology, spans healthcare, blockchain and real estate,” Virk explains. “Through our 10+ brands, we’ve served over five million clients globally.” This diversification has been a key factor in Finvasia’s explosive growth and its ability to tap into various industries.

In Europe, with a focus on Cyprus, Finvasia is driving forward with an ambitious expansion plan. “We currently have around 50 employees in Cyprus but, by 2025, we aim to double this number, focusing on hiring more local talent,” she states. This is part of the strategic decision to relocate the headquarters of the company’s European operations to the country, along with the plan to launch a CBC-regulated EMI, further solidifying Finvasia’s presence in the region.

Investing in people: The heart of Finvasia’s success

A cornerstone of Finvasia’s global success has been its unwavering commitment to professional development. “For the past fifteen years, we’ve been grooming young talents fresh out of college to become future leaders,” Virk says. This structured approach to leadership development will soon be introduced to Cyprus, creating a loyal, homegrown workforce committed to the company’s long-term vision.

To measure employee satisfaction and engagement, Finvasia has implemented several feedback mechanisms. From cultural and social outings under its Employee Engagement Initiative to regular town hall meetings, surveys and anonymous online feedback forms, the company ensures that employee voices are heard at every level.

Additionally, Finvasia maintains a flat organisational structure and an open-door policy, enabling any team member to directly engage with senior management. “This not only enhances transparency but fosters an environment where everyone can contribute ideas without hierarchical constraints,” Virk notes.

Employee benefits: More than just a perk

At Finvasia, employees enjoy a range of benefits. Health insurance for both employees and their families, a provident fund for long-term financial planning, education allowances and term life insurance are just a few of the perks that demonstrate Finvasia’s commitment to its people-first approach.

“We’ve made several employee-feedback driven changes in recent years, enhancing benefits and expanding learning opportunities,” Reet Virk adds, showcasing the company’s adaptability to its workforce’s evolving needs.

A future built on innovation and loyalty

Prioritising employee engagement, along with a continuous focus on talent development, has been a key driver of Finvasia’s global success. By having employees collaborate across brands, products and technologies, a strong sense of loyalty and commitment has been firmly instilled within the workforce.

“Finvasia is poised to continue its trajectory of success and further solidify its reputation as an employer of choice, both in Cyprus and globally,” Virk affirms.

As Finvasia continues to innovate across sectors and regions, one thing is clear: its leadership in fintech is driven by its leadership in people. The company’s future isn’t just about the markets it serves but the talent it nurtures within. And with a commitment to fostering both, Finvasia is not just growing – it’s thriving.

(This article was first published in the November issue of GOLD magazine. To view it click here)