Also fact: According to Cook Ross Inc., companies with the best record for promoting women outperformed industry revenue average by 46 percent.
Startups are notably difficult grounds for women founding companies and joining the workforce. This is especially so in fintech. As a fintech startup, we know that these are more than a matter statistics. Within our company, we know very presently that diversity has been tangibly beneficial to not just our performance, but our everyday interactions coming into the office and working together. However, we've also been aware just how much more room there is to improve. That's why YayPay has taken the ParityPledge to become part of the change toward gender parity in the workplace. Our founders are committed to creating a company with a workplace culture that encourages diversity, inclusion, and transparency. We hire and promote leaders that further this belief that all of our employees should feel safe bringing their whole self to work, and feel empowered to pursue growth uninhibited by aspects of their identity.
By taking the ParityPledge, we are further committing to ensure that our systems and processes reflect our belief in the following ways:
- Recruitment: During candidate selection and screening, we commit to not only making an effort to introduce diversity into our recruitment pipeline, but also to ensuring that the interview process addresses biases in the many areas it can manifest. For example, we've designed our interviews to take place in multiple stages with at least one female interviewer in one or more stages, particularly during deliberation. Additionally, personal biases that can affect perceptions of qualification are discussed openly between interviewers before interviews and during the deliberation process. These initial steps are designed to ensure that our company's understanding of culture fit and role qualifications account for diversity of background, identity, and experience.
- Feedback: Bi-directional feedback not only informs employees on their performance, but also creates space for their voice in the company. We have built into our internal onboarding a 30-day review so that all employees have an opportunity to provide their managers with feedback during this critical period and to set a precedent in crafting their employment experience. We commit to continuing this policy and to ensuring that more opportunities like this will be made available between employees and their managers (or an HR personnel) at YayPay. This will further our pledge to the Parity cause by committing to women who join our team the promise that their voices will be heard and taken seriously.
- Culture: Our company culture is open and honest, which is made possible by our value of Truth and Transparency. We commit to creating space for disagreements not as sources of conflicts but learning opportunities. We commit to helping everyone anticipate feedback and criticism regardless of their role and where they are hierarchically. This process also reinforces the expectation that the feedback they provide will be heard, regardless of the content and who it is provided to.
YayPay is built upon the belief that company performance is strengthened by diversity and genuine engagement. We look to increased representation not just within our company but in startups and the fintech industry in general. We hope you will join us in taking the Parity Pledge.