How Wallex Scaled an Open Culture of Employee Recognition, Even in the Most Remote Places
In just four years, Wallex has grown to become one of the most promising B2B FX and cross-border payment platforms in Asia serving SMEs all across Southeast Asia.
But the real icing on the cake in their growth journey is their recent acquisition by Singapore-based fintech company, M-DAQ Global, which would allow them to accelerate their efforts in expanding more in Southeast Asia.
All of this wouldn’t have been possible without the collective effort of their strong remote employee base of over 100 team members (and counting), spread all over Indonesia, Singapore, Hong Kong, and even parts of India and Europe.
Their success is built on having an open communication culture across their global teams - encouraging employees to freely communicate and collaborate without barriers.
To maintain that openness while growing fast, Wallex turned to PraisePal to ensure their culture scales with the business.
Building a Habit of Recognition with #WallexKudos
Using PraisePal’s Slack app, they created a recognitions channel named #WallexKudos to put their open culture in action.
Source: Wallex on LinkedIn
Team members can send a recognition message to each other instantly, whenever they want to show their appreciation or give thanks. This helps create a habit of recognition, positively motivating employees and celebrating small wins.
All messages are published on the #WallexKudos Slack channel, visible to the entire company to increase its impact.
Employees can send instant messages to recognise each other on Slack. Source: PraisePal
At the same time, it’s also effective in helping remote workers stay connected and overcome workplace isolation.
Just take a look at their growing engagement rates in the first quarter of 2022 alone.
Wallex’s engagement rate in Q1 ‘22. Source: PraisePal
This high employee engagement rate is kept sustainable using meaningful micro rewards.
With employees working from more secluded parts of Indonesia like Balikpapan, sending small tokens of appreciation is a logistical challenge.
Since being on PraisePal, those employees can also feel included with thousands of gift card rewards for them to choose from. The redemption process is fully automated, with no administrative nightmare for their HR team.
Whenever employees send their teammate a recognition message, they can allocate some PraisePal points with it. The receiver can then accumulate these points to redeem gift cards that they want.
Preview of Indonesia Gift Card Rewards Page. Source: PraisePal
When an employee feels valued through regular small acts of recognition, it results in a team that’s always engaged and motivated - knowing that their work matters and they are appreciated.
Your Company Culture Thrives When You Keep Your Doors Open
Many growing businesses fear that implementing an open culture of communication and going against the grain of traditional workflows would backfire on them.
But Wallex proves that it could turn out to be the best decision you’ll ever make for your company.
When you keep your doors open for employees and cultivate a company-wide habit of recognition, you’re essentially taking that first step in setting your team up for success.
Boost employee engagement within your team, with the right tools.
🎉 10,000+ team members worldwide recognise each other on PraisePal everyday. Try it for your team now!