THE RIGHT PEOPLE
A progressive hiring policy is among the major factors behind Fave’s sustained success
Mr. Joel Neoh
Fave, a next-generation digital merchants platform is a growth partner for over 29,000 merchants across Southeast Asia. This year alone, it has increased merchant revenue by more than a quarter of a billion dollars. That this burgeoning tech giant is experiencing such rapid growth is hardly surprising: the platform is simple to use and holistic in the way it connects subscribers to local merchants for an array of activities, travel, goods, F&B and services.
Fave co-founder Mr. Joel Neoh also attributes progressive hiring policies, fostering and maintaining an authentic company culture, and keeping a close eye on that bottom line to the accelerating success of Fave. The company favors candidates that demonstrate emotional intelligence, experience, and amplitude. Fave managers need to be willing to hire people more talented than themselves. “Hiring the wrong fit only feeds the trap of mediocrity,” Mr. Neoh says.
Bolstering these progressive hiring practices is the maintenance of clear and meaningful guiding principles that are actionable by everyone in the company, regardless of seniority. “Starting a business and running it at scale are two different challenges that require a different set of skills and perspectives,” Mr. Neoh explains. “Founders have to invest time and resources to upskill and acquire new knowledge, otherwise they risk falling behind in their role as business leaders.”
Change is inevitable, and the companies that succeed today are the ones that can weather rapid transitions and respond quickly to new market developments. An openness to digitalization is essential for those looking to grow. With technology, the results speak for themselves: a business owner can track them and use the data to make decisions with more confidence than ever before.
“Do open yourself up to innovation as a whole new range of potential customers and applications awaits you. Customers now consume information and media differently from just five or ten years ago, so be open to collaboration and not apprehensive of change, Mr. Neoh urges.”