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In this Episode, Recurly CFO, Steven Springsteel, shares his insights from adapting to remote work to employee engagement, Steven provides valuable learnings for a great company culture.
1:30 - The pandemic era has brought light to the fact that it's all about the employee. Working remotely is historically accommodated and will be there forever as a hybrid culture. With the advent of remote work, you need systems that will facilitate hybrid work culture. Because company cultures are very much developed through word of mouth and seeing people on a day-to-day basis or a continuous basis.
4:00 - Focus heavily on the onboarding activities of new employees. You must have casual conversations because communication is paramount in the way that you work. Carry out activities like company surveys, and pulse surveys, where every quarter you survey to just find out how they're feeling and some things that we need to improve on. One of the other things that we did is we eliminated annual performance reviews and replaced them with periodic check-ins.
7:29 - There's a variety of technologies out there that enable the system of culture. as an example, For the check-in process, you can start with spreadsheets. And if you want something more robust, try other Technologies. We use OKRs, objectives, and key results at our company, and it's pretty common. And some people just use KPIs or a hybrid of the two. The one thing that I'll say about systems is before you try to build a system yourself, you need to fully understand what's involved. And you need to get people that are experts in the area. Is it good to do it manually initially, you're probably going to have to systematize and there are many good options out there.
11:40 - You have to run best case and worst-case scenarios. You need to think conservatively as you put these things together. If you're a SaaS company, build annual increases into your agreement or contracts. Look at all of your vendor renewals and renegotiate. And then the last thing is to do a benchmark analysis against the best in class.
15:57 - I give you two bits of advice. The first is, as a CFO you can see how everything comes together. Use your knowledge to partner with all the different functional groups and help bring them together. The other advice is, when somebody comes to you and asks for approval, don't say no without giving an option.