Synpulse | 24 August 2022
Synpulse has been making great strides in the financial services industry generating substantial growth in its business and employee community.
In 2019, the consulting and tech firm has created a mandate to accelerate its growth to 1000 full-time global employees by 2025. In double-quick time – as of June 2022, they had already amassed a total of 948 FTEs globally. The firm expects to accomplish the mandate to have a thousand-strong workforce in just a few months. Synpulse’s talent retention know-how, people-first culture, fun yet professional environment, and continuous search for exceptional talents helped double the size of its global team significantly, especially amid the pandemic.
However, this is not the case for many companies globally. According to Willis Towers Watson’s 2022 Global Benefits Attitudes Survey, 44% of employees are looking for a new job or have plans to; suggesting that The Great Resignation is not showing signs of abating. Lockdowns, which have led to remote work arrangements, have resulted in people re-evaluating their professional relationships, career trajectory, and quality of life.
From a business perspective, the challenges in recent years have presented a rare opportunity for business experimentation – employers are now rethinking ways to drive productivity while keeping employees happy and healthy. The nine-to-five workweek is now often spoken of as a thing of the past and is being replaced by an almost infinite number of work arrangements – fully remote, and hybrid, among others. We’re also seeing the four-day workweek being seriously considered in various countries such as Canada, Australia, and New Zealand. A pilot programme has already been launched in the UK.
From an individual professional’s perspective, switching jobs has never been easier. You no longer need to uproot your life and “move closer to the office”. If you have a laptop and a high-speed internet connection, you’re set.
According to Pew Research Center survey, the majority of workers who quit their job in 2021 cited low pay (63%), no opportunities for advancement (63%), and feeling disrespected at work (57%) as reasons why they quit.
How Did Synpulse Overcome This?
For Synpulse, they are underpinned by what they call the “Diamond Strategy”, a group-wide strategy aimed at taking their firm to the next level by expanding their consulting, technology, and managed platform offerings, and growing their team to create sustainable value for their clients. This strategy backs up the strategic decisions in each of its offices around the globe.
In the past three years, the firm made bold moves to align with its strategy by restructuring governance and expanding its geographical presence. One that is very significant is the appointment of co-CEOs for APAC and EUUS to provide laser-focused leadership in each region to expand the business. The organization has also established a physical presence in Bratislava, Luxembourg, Taipei, Shenzhen, Jakarta, Pune, and Hyderabad, and has extended its service offerings to Atlanta and Toronto to better serve and be closer to their clients as well as tap exceptional talents in these key markets.
Having a firm-wide strategy has fostered a sense of unity amongst employees in the company, who then collaboratively work toward the same goals. Knowing (and caring about) where they are going is important – that’s why the company makes sure that every idea is welcomed, every contribution is recognised and every employee has a stake in the business.
The start of 2022 was particularly exciting for the consulting firm. They launched their tech powerhouse – Synpulse8 – to bring together the firm’s full suite of end-to-end services through the combination of strategy and development to implementation and management. This also opened new career opportunities to those who wish to shift from consulting to tech to allow those with a deep passion for tech to streamline their career trajectory against their skills and goals.
Most recently, Synpulse announced a partnership with fintech incubator F10 – pledging to invest the equivalent of 1% of its annual revenue into the start-up accelerator. The funds are intended to allow F10 to grow both into new geographies, as well as in its current hubs in Europe and Asia, and fuel the growth of the most innovative start-ups. As with Synpulse’s other partnerships, they are looking at contributing to the strategic direction and innovation of the growing Fintech ecosystem.
Synpulse has been working hard to identify market gaps, create sustainable solutions, make a lasting impact on the industry, and most of all grow and nurture its people. The firm has proven that it takes the right team, great strategy, top-of-the-line innovation, and well-planned execution to succeed.