Innovation

Voyager Innovations, the holding company of Smart and PLDT, wanted to make a digital financial services arm to bring financial inclusion to every Filipino; hence, Paymaya was born. A recent rebranding was completed in 2022, which led to the company being called Maya—now the country’s leading tech company and digital services provider. As a startup and growing business, it has already surpassed 1M+ customer base in five months. With services such as Maya Wallet, Maya Bank, Maya Business, and Maya Center, it boasts of being the one-stop money app for every Filipino. They provide innovative money management solutions that are user- and business-friendly, secure, and convenient.

Focusing internally, Maya is also a champion in recognizing that a people-driven business is successful. To ensure this, the company has a solid framework to show its commitment by putting employees first and fostering a positive work environment that encourages personal development and well-being. This framework is the 5 Human Deals based on Gartner (2021). The framework consists of 1) Deeper Connections which is making sure the employee and candidates feel understood and can create relationships with each other; 2) Flexibility in work which gives employees autonomy and freedom to do whatever they want in alignment with the business goals; 3) Personal Growth which focused on development and learning; 4) Holistic well-being which encompassed their mental health, fitness, wellness and lastly 5) Shared-Purpose which is having the connection with what the company stands for. Maya enforces a growth-driven environment rooted in their Human Deals framework include offering classes for speaking, project management, data analytics, coding, and UI/UX design in their learning channel– Maya University Hub. They also do health coaching and yoga sessions for their employees’ physical well-being. In addition, they provide financial support to enhance their employees’ strengths, for example, when they sent an employee to a paid Data Science seminar.

Moreover, to ensure that the needs and interests of employees are prioritized, Maya practices open communication lines between management, mid-management, and employees. It uses feedback form technology such as Glint to check employees’ satisfaction with programs, policies, work situations, and supervisors, which they review quarterly and assess the gaps and areas for improvement. From there, they update their policies to match the employees’ needs. The use of the Human Deals framework and Glint feedback form emerged from wanting to reinvent their Employer Value Proposition (EVP) at the same time they did their rebranding from Paymaya to Maya. After the pandemic, the priorities of employees and candidates have changed, and they have realized that their lives should not only revolve around their jobs.

“The company wanted to shift its framework to something more holistic. It is designed to deliver an exceptional living experience to all our employees. We try to support them in all aspects of their lives as much as possible and empower them to be capable employees and fulfilled with their personal lives.” - Employer Branding & Strategic Sourcing Specialist, Lucille Alonzo

Maya centers all their people-related activities on the 5 Human Deals and positions itself as an employer that values holistic well-being and personal growth.

Inspiration

Maya, a company that values humanistic management practices, prioritizes meeting the needs of its employees to create a positive and productive work environment. The company identifies five main areas to address human needs: human need, flexibility at work, personal growth, holistic well-being, and shared purpose. By meeting these needs, Maya ensures that its employees feel valued and supported.

The company recognizes that human need is critical for creating a positive work environment. To meet these needs, Maya strives to ensure all employees feel a sense of belonging, security, and safety. This aspect of humanistic management practices creates a work environment where employees feel valued, respected, and supported.

Maya values flexibility at work, recognizing that employees have unique needs and circumstances. The company offers a range of flexible working arrangements, including working from home, flexible hours, and job sharing. This approach to humanistic management practices allows employees to balance work and personal life, creating a more positive and productive work environment.

Personal growth is also a priority for Maya, and the company offers programs and opportunities to help employees develop new skills and advance their careers. The company's mentorship programs, leadership development courses, and regular training sessions help employees reach their full potential. By focusing on personal growth, Maya creates a work environment where employees feel challenged, engaged, and motivated.

Maya's holistic well-being is another critical focus, and the company offers programs and initiatives to support its employees' physical, mental, and emotional well-being. These include wellness programs and mental health support services. Maya recognizes that employees who feel healthy and supported are more productive and engaged.

Finally, Maya strongly emphasizes shared purpose, ensuring all employees feel connected to the company's mission and values. The company encourages employee involvement in decision-making to create a positive work environment. By prioritizing shared purpose, Maya creates a work environment where employees feel motivated, engaged, and connected to the company's success.

Maya's humanistic management practices are influenced by humanistic psychology, emphasizing individual growth, self-actualization, and personal fulfillment. Humanistic psychology also values human dignity and positive relationships in the workplace. Maya empowers its employees to take ownership of their work and contribute to the company's success by implementing a human deal model, where the needs and interests of employees are prioritized in decision-making processes.

Maya measures the success of its humanistic management practices through employee satisfaction and engagement metrics, using tools such as Glint to gather feedback. By prioritizing the needs and interests of its employees, Maya creates a positive and productive work environment that benefits both the company and its employees.

Employer Branding & Strategic Sourcing Specialist Lucille Alonzo said: "Because we already have a framework that we follow, [which is the Human Deal], we're not starting from scratch. We begin with Maya's first entry point, an interview for any position. This is already an opportunity for us to integrate Maya's culture and mission with the aspiring employee... it matters how you treat your candidates. So from there, you make sure that the entire candidate experience is smooth, is easy for them. You try to represent Maya as best as you can."

The Human Deal framework serves as a guide for the company to ensure that it is prioritizing the needs and interests of its employees, and this philosophy is carried through from the moment a candidate enters the hiring process. The company recognizes that how it treats candidates during the hiring process can impact its reputation and ability to attract top talent; therefore, it places a strong emphasis on creating a positive candidate experience. This approach aligns with Maya's humanistic management practices and focuses on creating a positive and productive work environment.

Overall impact

In a world where businesses often prioritize profit over people, Maya, an e-wallet and digital bank, stands out with its commitment to the well-being and growth of its employees. Led by the progressive and people-centered Lucille, Maya's HR department has successfully integrated the 5 Human Deals by Grant and utilized Glint to create a workplace that values holistic well-being and personal growth.

Through Glint, Maya ensures open communication and assesses employee satisfaction with programs, engagement, policies, and work. This feedback is used to identify gaps and areas for improvement, which is then used to match and improve programs. Maya also offers work flexibility with no set schedule, allowing employees to pursue their passions and personal growth. Maya even offers financial support for employees who want to study or learn new skills.

Maya's impact goes beyond its employees. As a digital company, they rarely use paper, contributing positively to the environment. They also empower unbanked Filipinos by offering financial services like crypto and loans. Maya's Human Deal model is the foundation of its business operations.

“I guess we really have to go back to the human deal again because again, that's really the framework that we use in all aspects, in all things, in all projects. By integrating the human deal in the first ever contact point for the candidates, we are already able to integrate or at least introduce our mission and purpose to them. Because the way we communicate to candidates, we don't just introduce Maya as an all in one money platform or an all in one digital bank cassette. We also position ourselves as a company or as an employer that values flexibility, shared purpose, holistic well-being, etc… so if you notice most if not all of our employer branding posts on LinkedIn are anchored back to our employees because as much as possible we want to leverage on their stories rather than us harping on,” said Lucille.

It is integrated into every contact point with candidates, from recruitment to onboarding, creating a sense of purpose and alignment with the goals and objectives of the company. Maya also celebrates business milestones and collaborations together, inspiring productivity and unity.

Concrete evidence of Maya's impact can be seen in its treatment of interns. They are not treated as subordinates but as partners who are empowered to take a direct role in projects, ensuring everything is fine. With no hierarchy, everyone is valued, and communication lines are always open. Maya encourages, supports, and empowers its employees, creating a workplace where people truly are the key to success.

Business benefit

Maya's emphasis on humanistic management practices has resulted in numerous benefits for the company. By prioritizing its employees' needs and interests, Maya has created a positive and productive work environment that fosters collaboration, innovation, and growth. Employees are more engaged and satisfied with their work, which has resulted in lower turnover rates and higher productivity.

One of the critical benefits of Maya's humanistic innovation is increased employee engagement. By prioritizing the needs and interests of its employees, Maya has created a work environment where employees feel valued and supported. This has resulted in higher levels of engagement, as employees are more likely to be invested in their work and motivated to contribute to the company's success.

Employer Branding & Strategic Sourcing Specialist Lucille Alonzo says, "Every time we release content, either internally or externally, we ensure that we get [input] from our employees... We want to avoid catching them off guard. It's as simple as that. But you can see that even in those simple things... making sure that we build trust and respect for an environment of collaboration with the people you work with internally or externally.”

Another benefit of Maya's humanistic innovation is improved employee retention. By offering a range of programs and initiatives to support its employees' needs and interests, Maya has retained top talent and reduced turnover rates. This has helped the company save on recruitment costs and has maintain a sense of continuity and stability within the organization.

Maya's focus on humanistic management practices has also resulted in increased innovation and creativity within the company. By fostering a culture of trust, respect, and collaboration, Maya has created an environment where employees feel comfortable sharing their ideas and taking risks. This has resulted in the development new services and processes that have helped the company stay competitive and adapt to changing market conditions.

Finally, Maya's humanistic innovation has helped the company build a strong employer brand and reputation. By prioritizing the needs and interests of its employees, Maya has become known as a company that values its people and invests in their growth and development. This has helped the company attract top talents and build strong relationships with customers, partners, and other stakeholders.

Social and environmental benefit

Maya not only caters to Filipinos' financial needs but also has a broader impact on society and the environment. Lucille Alonzo mentioned, “Our goal is to empower Filipinos, especially the unbanked and those who are unhappily unbanked, by empowering them through our products and services.” Maya’s design is to make finance and related services accessible to all, enabling users to save, do transactions, file for loans, and even invest in crypto. Through these services, Maya creates a more financially inclusive society where each individual has access to financial services regardless of economic status.

Maya’s platform utilizes a digital-first model having environmental benefits, as it minimizes paper used in the office. Lucille mentioned, “Rarely would you see any paper in the office as we are a digital-first company.” By going paperless, Maya reduces their carbon footprint while contributing to a more sustainable future. Furthermore, Maya has been actively establishing partnerships with local government units, enabling local communities such as local markets and tricycle drivers. Maya has taken strides in incorporating their services into the everyday lives of citizens, such as those in Muntinlupa City. Locals in Muntinlupa are issued identification cards powered by Maya. This includes students who can now avail of their services, such as payments, simply using their ID. Moreover, Maya has incorporated itself with local markets, such as introducing the first “DigiPalengke” in Venezuela. The vendors in this public market now accept Maya by scanning QR codes as payment. This has also benefited the users as Maya regularly runs promos such as getting a free half kilo of rice when paying with Maya. Their inclusivity and efforts to aid those unbanked have also aided those hesitant about normal banking services. Maya, in 2016 acquired a significant increase in customer base comparable to top banks in the Philippines (Crisanto, 2017). Maya also includes the Philippine flag in their QR codes as a form of Filipino representation and nationalism. Through this, Maya promotes financial inclusion while contributing to the growth of local economies.

Maya’s all-in-one financial application empowers Filipinos through its services and contributes to a more sustainable and inclusive society. As Lucille mentioned, “Our whole business model is really for social responsibility,” and they are committed to positively impacting society and the environment.

References:

Crisanto, J. (2017). Paymaya serves the unbanked in the Philippines through the mobile app2. Retrieved April 16, 2023, from https://www.theasianbanker.com/updates-and-articles/paymaya-serves-the-unbanked-in-the-philippines-through-the-mobile-app

Gartner. (2021). Make Way for a More Human-Centric Employee Value Proposition. Gartner. Retrieved April 17, 2023, from https://www.gartner.com/smarterwithgartner/make-way-for-a-more-human-centric-employee-value-proposition

How local communities are enjoying the cashless experience. (2019). Retrieved April 16, 2023, from https://www.maya.ph/stories/local-communities-cashless-experience

Interview

Lucille Justine Alonzo, Employer Branding and Strategic Sourcing Specialist