PayU announced the launch of its new Employee Value Proposition (EVP) to deepen the brand’s connection with existing and potential employees and build a more rewarding future for them. PayU’s continued growth necessitated a formalised EVP. The EVP was created to give employees a clearer picture of what the company prioritizes and the initiatives it is undertaking to improve employee experience. The EVP is based on three pillars – entrepreneurship, collaboration, and innovation which were arrived at after surveying 1000+ employees and multiple focus group discussions. The essence of these pillars is reflected in PayU’s EVP statement ‘We are entrepreneurs transforming financial services through cutting-edge technology’.
Priya Cherian, Chief People Officer, PayU, elaborates, “PayU takes great pride in being an employee-centric organization, with our colleagues being at the centre of everything we do. Our EVP acts as a promise to existing & potential employees to build a more rewarding future for them by investing in their growth, learning, well-being and overall development. We have articulated our 10 PayU Behaviours as part of our culture code to guide our vision of creating a workplace where our employees from around the world can grow professionally while creating products which have a lasting positive impact on the community. Entrepreneurship, collaboration, and innovation are central to PayU’s culture”.
By virtue of being a high-paced company, entrepreneurship is, and will remain an integral part of PayU’s DNA. PayU India’s vision is to create a full-stack digital financial services platform to serve the financial needs of merchants, banks, and consumers through technology. The company believes in the simple mindset of ownership, over merely planning and executing an idea is important to achieve this vision. In a short span of time, a PayU employee (PayUneer) experiences multiple product life cycles that have a sweeping positive impact on millions of lives. PayU’s unprecedented growth and ambitious vision make it a fertile ground for passionate professionals with entrepreneurial qualities looking to challenge the status quo, and do cutting-edge work that transforms the financial ecosystem.
Collaboration lies at the heart of PayU’s rapid growth. This includes cooperation and teamwork among 3000+ PayUneers with 43 nationalities spread across 20+ locations. It also encompasses an integrated approach across various cross-functional teams, different group entities such as PayU Payments, PayU Credit, and Wibmo in India to co-create products; and PayU’s investee companies to help leverage business synergies. At PayU, every employee gets the opportunity to solve complex problems across all facets of the fintech ecosystem – merchant, consumer & banking – while creating a positive impact on the community, making the journey far more enriching and fulfilling.
Innovation is central to the PayU story. PayU operates like multiple start-ups within an organization, constantly diversifying into segments beyond payments and building new momentum. A great manifestation of this innovation and scale is the fact that 30% of PayU’s revenues today come from diversification of PayU’s merchant portfolio, and new segments and products such as financial services, omni-channel, affordability and others. Innovation is the pivotal force enabling PayU employees to overcome challenges, explore new avenues to deliver impact and build large-scale solutions.
Through its EVP, PayU’s focus is on keeping its employees at the center of its operations. This is being driven through multiple initiatives such as the launch of PayU Behaviours to drive a One PayU culture, curation of mindful benefits to enable PayUneers to ‘Be More with PayU’, ‘Culture as a Conversation’ fireside chats, along with mindfully crafted HR policies to provide them with the best of opportunities to enhance their physical, mental, emotional, and financial well-being. These include a hybrid work policy and mandatory time off for a healthy work life balance; and enhanced medical insurance and term insurance coverage for all employees. PayU has also introduced a new rewards & recognition program with the goal of building a culture where every employee feels valued and recognized. The company has enhanced its Employee Referral Program, with 3X the referral bonus to give shape to ‘One Policy for One PayU’ (across PayU Payments, PayU Credit and Wibmo).
Furthering its commitment to employees’ professional growth, PayU has also introduced robust learning plans, mentorship programs, opportunities for internal movement and access to various upskilling programs. The newly launched PayU University offers PayUneers the opportunity to upskill themselves across Payments (Domain), Functional and Leadership domains.