As the dreary funding winter soars, at e27, we are kickstarting a new article series Line of Hire to understand a company’s culture and hiring philosophies to empower tech workers with the right growth tools to enable business owners to attract talent.
Dean Wong, Founder and CEO of MPFunds, has had a dynamic career across various financial domains. His experience spans across private equity and capital markets, and he has managed an impressive portfolio of over US$50 million in trading turnover in commodities and forex trading.
In this episode, Wong shares his organisation’s culture and hiring philosophies.
Excerpts:
What personality traits/qualities do you look for in potential employees?
In potential employees, I look for traits such as integrity, teamwork, leadership skills and initiative. These qualities are crucial for building a strong and cohesive team.
How do they fit into your company culture? Tell us a little more about your company culture.
Our company operates on a unique four-day work policy, from 10 am to 6 pm, complemented by a 1.5-hour flexible lunch break, which sets us apart from traditional startup cultures. We believe that to establish a solid foundation, we must prioritise the quality of life and mental wellness of our employees.
During the interview process, I make it a point to ask candidates about their previous company culture and what they would like to avoid in our new company. Additionally, I inquire about their current mental health status, recognising that mental wellness is a crucial aspect that affects overall productivity.
Integrity is a fundamental value in our company, encompassing traits such as responsibility, ethics, honesty, and transparency. I place great importance on my employees being truthful about their working capacity. By understanding each team member’s strengths and abilities, I can allocate tasks more efficiently, allowing employees to enjoy their work and leverage their talents.
When challenges arise, I foster a culture of open communication and collaboration. Instead of resorting to assumptions or finger-pointing, we come together as a team to gain clarity on the situation and work towards finding solutions. This approach not only resolves the problem at hand but also strengthens the team dynamic, emphasising the significance of teamwork and creating an environment where employees feel comfortable voicing their opinions.
I really appreciate it when employees take the initiative to suggest improvements for the company. This demonstrates leadership qualities, and I empower them to take ownership of their ideas.
Lastly, I emphasise the importance of having standard operating procedures (SOPs) in place for every task. SOPs not only establish a clear company culture but also ensure that everyone understands their objectives and the step-by-step process to achieve them. This clarity enables more productive meetings and helps drive the company forward.
How do you foster transparency and encourage achievement in the workplace?
As a firm believer in leading by example, I understand that if I want transparency in the workplace, I must be transparent with my employees as well. To foster a culture of open communication, I encourage my team to share their feedback and opinions by regularly checking in with them.
In fact, I conducted a comprehensive course in May to educate and guide them on efficient work prioritisation based on a standard operating procedure (SOP) decision matrix. This training helps address any confusion employees may face when confronted with multiple tasks, enabling them to prioritise more effectively.
I also emphasise to my employees that finding joy in their work is an achievement in itself. With our 4-day workweek policy in place, I believe that my team has achieved a better work-life balance and improved overall satisfaction.
As a testament to their dedication, I set a target for our first info session launch with a one-month timeline, and I am proud to say that they exceeded expectations by accomplishing it in less than two weeks. Furthermore, the oversubscription of our info sessions is truly encouraging and demonstrates the commitment and success of our team.
Do you have a mental health policy? What does that look like?
Yes, we have a comprehensive mental health policy in place. In-house, we conduct monthly check-ins with employees to address work-related issues and provide better clarity on job scopes.
Additionally, we have partnered with Annabelle Psychology for their Employee Assistance Programme (EAP), which offers counselling and psychotherapy services, wellness workshops, training, and lunchtime talks on mental health and wellness.
WFH or WFO, or hybrid?
We follow a WFO (Work from Office) policy. This decision is driven by the belief that being physically present in the office fosters better collaboration, communication, and teamwork among employees.
This, along with our four-day work policy, ensures a more effective and efficient work schedule while allowing for a better work-life balance.
How should a tech worker prepare for the funding winter?
In a funding winter, it’s crucial for every team member to contribute to the company’s survival and growth. Here are some ways that will help us navigate this challenging period:
- Cost Efficiency: Look for ways to reduce costs without compromising the quality of our services and continue to work on improving SOPs to streamline processes and automate tasks. By being mindful of cost efficiency, we can maximise our resources and strengthen our financial position.
- Client Retention: Work on improving our customer journey and strengthening relationships with our existing clients. Provide exceptional customer service and prioritise client satisfaction and retention to foster long-term relationships and mitigate revenue fluctuations.
- Innovation: Explore creative solutions to the challenges that we might face, and importantly, be open and decisive in adapting them. This may involve developing new technologies, exploring alternative business models, or finding innovative ways to solve problems. By encouraging a culture of innovation, we can adapt to changing market dynamics and stay ahead of the competition.
- Communication: Maintain open and honest communication within the team and management. This can help everyone stay aligned with the company’s goals and strategies, and it can also help foster a positive and supportive work environment. It will also enable us to make informed decisions collectively.
- Leadership: Don’t be afraid to step up and take on leadership roles, even if they’re not in a management position. This could involve taking the initiative on projects, helping to mentor junior team members, or contributing to strategic planning.
Lastly, have faith that every challenge is also an opportunity for growth.
How do you measure the performance of your employees?
We measure the performance of our employees by ensuring that the SOP of their work is in place. We set objectives and checklists for each department on a weekly/monthly basis, which allows employees to track their progress and performance more effectively.
Will you consider a moderately skilled person with great honesty or a highly skilled person with less honesty when hiring?
When making hiring decisions, I prioritise honesty and integrity above all else. While skills can be trained and developed, honesty is a character trait that cannot be easily taught.
Therefore, I would consider a moderately skilled person with great honesty over a highly skilled person with less honesty.
Do you encourage ‘intrapreneurship’ in your organisation?
Absolutely. I strongly encourage intrapreneurship within our organisation. I believe that every employee has the potential to be a leader and take ownership of their roles. I empower my employees to make decisions that benefit the company and provide opportunities for growth and development.
How do you support upskilling for your employees?
The continuous upskilling and professional development of employees is of utmost importance to the company. Investing in the team’s growth not only benefits them individually but also strengthens the company.
I personally dedicate some time to mentor each employee on a one-to-one basis. This allows me to understand their career aspirations, identify areas of improvement and provide guidance to their individual needs to unlock their full potential. I also conduct monthly regular sharing sessions, similar to the one held in May, to discuss important topics such as task prioritisation for increased efficiency.
These sessions provide a platform for knowledge sharing, where team members can learn from one another’s experiences, insights, and best practices. By fostering open and collaborative discussions, we promote a culture of continuous learning and improvement.
I encourage the team to actively participate in discussions, share their ideas and ask questions. This inclusive environment will allow deeper conversations from diverse perspectives and the opportunity to learn from one another.
Besides that, the Employee Assistance Programme (EAP) with our partner Annabelle Psychology will also prioritise the team’s mental health and well-being to create a conducive environment for growth, productivity, and personal development.
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