Fintech Start-Up
Our client for this case study is a software start-up in the Fintech industry, developing cutting edge solutions for their international partner-companies. Two of the founders had been resident expats in the Philippines for 5 years, so they knew they could find the right talent to drive their exciting opportunity. They planned to build and run the business in its entirety themselves…until they met with Yempo.
Starting a company in the Philippines is a huge undertaking; it can be costly, as well as time consuming and filled with bureaucratic roadblocks. The founders then struggled to attract talent without a known brand.
After the first meeting, Yempo gained an understanding of the client’s needs and the time sensitivity of their opportunity. We immediately hired an additional recruiter dedicated to building their team. We leveraged our premium brand-name in the market and our unique headhunting techniques to source top talent in the shortest possible time frame.
Our client rapidly built its team, freed themselves from the administrative overheads that would hamper their delivery, and found themselves with a collaborative partner focussed on enabling their success.
Client’s Challenge
Our client invested considerable time and effort in establishing acompany in the Philippines. As residents, they had been exposed to the talent in the market. They had confidence that their plans to run the entire development, delivery and support of their unique product from the Philippines were sound.
However, after navigating the murky waters of company establishment they found themselves with further challenges. Setting up a company is only the first of many hurdles. Hiring and effectively managing a team, meeting employer legal obligations as well as financial compliance became a major distraction from the actual task at hand. The business was established to take advantage of a time sensitive opportunity to design, deliver and support highly specialised software and they needed to build a team quickly.
Turning their attention to sourcing top talent, they were then faced with a uniquely Filipino challenge. Without a solid brand and known reputation as a top employer, it is almost impossible to attract the attention of talented candidates in the market. Our client advertised on expensive recruitment sites and tapped into their known networks but could not source the skills they needed.
“Where Yempo exceeds expectations is really in the relationship between our two companies. In one word – ‘Partnership’.”
-Founder
The Yempo Solution
Our client was referred to Yempo through a mutual friend and former colleague of our CEO, Michelle Fiegehen. Her reputation from her previous corporate career was that “she delivered”, so our client set up a meeting to discuss a small engagement. The proposal was for Yempo to advertise the required positions, then pass the candidates to the client for hiring and managing. It was not their intention to outsource anything other than recruitment via the Yempo brand, which is established in the local market as a premium employer.
After the first meeting, our client changed their strategy. They loved the culture, the office environment, and that the contract terms are open, transparent and flexible. They decided on the spot to “give it a go and see where it leads”.
“Partnering with Yempo is the single best decision we made”
– Founder
Impact on Client’s Business
When our client outlined their aggressive recruitment plans, Yempo immediately employed an additional recruiter dedicated to their needs to fully focus on headhunting the specialist skills that were needed.
After signing an MSA – which can be terminated at any time on 30 days’ notice – two months of focussed recruitment delivered a core team of talented developers, and one month later, the team of 10 was in place.
The team is 100% dedicated to our client, highly engaged and committed. The entire implementation of their strategy has been so successful, there are plans to expand the team further.
“I like the way the Yempo management team runs its business, they have clearly done the research and chosen tools and processes fit for their needs. I am using these as a basis for my own business.” – Founder
At Yempo, we are particularly delighted to be working with a client that is understanding and respectful of the nuances of working with Filipinos, and considerate of the challenges we sometimes face in managing their needs in line with the needs of our clients.
A successful outsourcing strategy only delivers when working in true partnership with the service provider. We are proud and appreciative of the productive relationship we have with this particular client.
Recently the entire team were taken on a surprise weekend outing fully funded by the client to the beautiful island resort of Boracay!
