Not a single Pros really, may be a good looking logo
other than that nothing is really in this company
Cons
- employee turnover unbelievably high, over 70s within a year, including 7-8 C-level and numerous VPs & GMs
- No biz plans, no operation, no R&D ( pretended they do), lack of knowledge about fintech, and trying to do something they don't understand
Numoni Response
9y
Thank you for the feedback. The turnover of the company is lower than industry statistics. We welcome staff to enquire what these are directly with HR. There cannot be 70 leaving as the company did not have 70 people in SG or MY! So there must be some wrong counting there. There were many interns and other part-timers. In 2016, there was not 7-8 C level staff. Logically, the Company was not the size to absorb that many such level staff. In 2015-2016, the Company also made the decision to move to KL for Operations Efficiency. There were some massive restructuring as a result. Marginal staff may have been asked to leave. Other staff were asked to take on different roles, and some staff were transferred. This restructuring was necessary as the SGD was 3x the MYR. Only a small team of SG staff were retained as part of the total restructuring.
The above three words summarised the company well being. This company is going in their 5th year of operations but no new products and kept calling themsleves a Strat-up, please grow up. The only product making money is a small business in Malaysia which they acquired last year, a few thousands Ringgits a month. Sad!
Cons
- Working hours 24/7 and 7 days a week
- No benefits
- Senior staffs were asked to take a four-month leave coz the company was not able to pay
- High employee turnovers. 95%of the staffs have gone, and only 3 employees stay longer than 1 year because they need to get a Singapore PR
- Employees work in fears because the culture here is "threatening", "abusive" and "humiliation"
15
Numoni Response
9y
No senior staff was asked to take four month leave. Some senior staff who were paid to market (!) and to their previous salaries (!) were asked to reduce their package during a time where the company had to sort out fund raising, and only the very senior staff were included in this salary restraint exercise. Such an exercise is not uncommon in companies or in start-ups. In time, when the Company does well, these same staff would have been rewarded with Share Options. In anycase, all staff were paid up to current day, and only some remain on the salary restraint, which is a directive to help the Company under Fund Raising Constraints in a Fintech. The staff in KL were released under a specific directive. Globally, something like this is not unusual. We see it in all major banks worldwide in downturns where thousands are released. It is regretful that the staff who were released over this period did not understand the more macro issues. However, their emotions are perfectly understandable as are their perceptions which is from their standpoint. It is very unfortunate that the staff seemed to have fired off responses and not understand the underlying issues. Perhaps this is indicative of the age-group and experiences of the staff. In the time that the office was observed, all development staff left the office by 730 pm most days. The KL office had hardly been open on Saturdays and Sundays. The 24/7 is not possible therefore, and of all development teams in the company over the 5 years, the KL team were given many special privileges over the 1 year they were onboard. Perhaps it is a matter of expectations.
Learn a lot of things very fast and across many disciplines. Also get to work in many cultures and understand many new people.
Cons
Have to work hard as the pace is very fast and if you dont catch up, you are left behind.
18
Numoni Response
9y
Thank you for the feedback. We need more staff who are willing to climb higher and do more. All start-ups and Fintechs need these. Good luck with your endeavours.