Our Culture and Values
Central to Paysafe’s success is the way we conduct ourselves – via our empowered employees, the technology we use, the services we provide, and the way we do business. Underpinning this is the pride associated with our culture of inclusion, optimism, collaboration, fun and success.
Trust is central to our success, key to our conduct. As we strive towards sustainability in all aspects, we take our responsibilities seriously and are committed to dealing fairly and with integrity with all our stakeholders.
Our commitment is a promise to ourselves to live the values that our employees created; Pioneering, Courageous, Open and Focused. Our four values are the heart of everything we do and inspires how we work together.
Ultimately, focusing on combining technology innovation with human innovation, we deliver value by creating working practises that improve productivity, reduce costs, develop talent and provide job satisfaction.
We are a business that celebrates people. Our people matter.
Our people are passionately transforming payments. They are having an impact and making a difference. A global community of pioneers who are relentless in their quest to liberate payments globally.
We want to attract and retain the best talent, motivate them with a culture they can be proud of, and inspire them through a safe, respectful and inclusive working environment.
Building an entrepreneurial, empowered culture is critical to our success. At an operational and management level, our approach centres on empowering divisional CEOs and their teams to make decisions quickly in ways that maximize success for their business lines and our company as a whole.
Who we are extends beyond our office walls and business activities. We aim to be a supportive part of the local communities where we operate. This represents our corporate social responsibility focus and is an area that we can make it happen. Some of the initiatives in which we are involved in our major locations, including the engagement of our employees, are highlighted below:
We are proud contributors and sponsors of the Woodforest Charitable Foundation which is dedicated to enriching lives and communities through local social and public service programs. We also support the Woodlands Children’s Festival where the focus is on the performing and visual arts for children.
We also donate to the Seal Legacy Foundation dedicated to providing support to families of wounded and fallen United States Navy SEALs, educational assistance for SEALs and their families, and other charitable causes benefiting the SEAL community. The Foundation was established in 2011 by SEALs to preserve their legacy of no one left behind.
We adopt 10 children of the Devnar School Foundation which was founded in 1992.
The Foundation aims to provide opportunities for the visually challenged children in India so that they can be absorbed in the mainstream of society as socially productive individuals.
Additionally, we have undertaken a number of initiatives to encourage women into technology, including a female only hackathon, and recently offered summer internships for 5 female students.
Significant investment was made in a local theatre, The Old Vic, in order to improve access to those with disabilities.
Charitable donation to Sparks charity which raises money to fund pioneering child health research across the UK, helping to find new treatments and cures for children.
Donated and participated to Street League, a football tournament that raises funds and awareness for unemployed youths, helping them move in to work or undertake further training.
Sponsorship of the Baa Baas rugby team enabled Paysafe to raise awareness and monies for Help for Heroes charity, providing lifelong support to Service Personnel and Military Veterans with injuries, illnesses and wounds sustained while serving in the British Armed Forces.
London also participates to Change 100, a programme designed to allow students with disabilities to undertake 100 days in the company.
Throughout the calendar year, our Montreal office sponsors a number of different causes including Centraide, an organisation that raises money to invest locally to break the cycle of poverty and social exclusion, Cancer research through Cummings Annual Sports Breakfast, and the memorial Sloan Kettering Hospital. Paysafe is also an annual donator to Montreal Children’s Hospital Foundation.
More than 80 Paysafe employees took part in a tree planting event in the outskirts of Sofia at the end of October. Together they planted 1,000 trees which will be a part of the New Big Sofia Forest consisting of around 250,000 trees.
More than 200 laptops were donated to 11 schools, via the BCause foundation, providing students from the districts of Vratsa, Kardzhali, Haskovo, Stara Zagora and Montana with the opportunity to learn and work on education-orientated laptops.
75 Raspberry Pi’s are being distributed to local schools in Sofia as a part of an initiative to get children into DEV. Staff from the local office will be on site to take children through simple IT Development activities.
4 University and 3 High School scholarships for orphaned children were provided allowing them to undertake further studies at the best institutions without any financial burden.
P1000. We will be celebrating our milestone of 1,000 employees in September 2018 whereby we will be giving back to the community of Sofia that has given us so much. With a particular focus on children charities we will be identifying 10 charities that will share a LEV100,000 donation.
We financed an assistance dog for a young girl in a wheel chair as part of a Christmas pledge.
Additionally we cooperated with “refugeescode” to help integrate refugees into local society, including offering 2 of them roles within the IT organisation.
Finally we made a donation to the social enterprise “qualitätszeit” to help the elderly online.
Diversity and Inclusion
Diversity and Inclusion in Action
At Paysafe Diversity and Inclusion is considered a strategic priority and not just a tick box, numbers exercise. All members of our Board and Executive Teams have fully endorsed this and are committed to creating a working environment where everyone’s unique contribution is valued.
Why? We operate in increasingly diverse communities throughout our global footprint and this diversity is evident in our workforce and our customers, suppliers and other stakeholders. We want Paysafe to be a great place to work and we expect our colleagues to treat each other, our customers, and our partners with respect and embrace one another’s differences.
In our increasingly competitive business environment, we understand that the performance and engagement of our employees is central to business success. An inclusive working environment, in which each employee is able to fulfil their potential and maximise their contribution, really matters at Paysafe. We recognise and value the creative potential that individuals of different backgrounds and abilities bring to their work.
We see equality legislation throughout our jurisdictions as setting ‘minimum standards’ and we want to go beyond ticking boxes. In promoting equality, diversity and inclusion, we want everyone to have access to jobs, training and development opportunities and for all people to be treated fairly.
We are committed to actively promoting diversity and inclusion in the workplace. Below are some examples of what is done at Paysafe.
Diversity and Inclusion is on both the Executive and Board agendas. A Diversity and Inclusion Steering Committee, sponsored directly by Paysafe’s CEO, Joel Leonoff, meets on a regular basis to tackle key deliverables and discuss Paysafe’s progress in the promotion of diversity and inclusion in the workplace. Key KPIs are reviewed and reported to the Board on a quarterly basis.
Colleague-led operating committee
An internationally led, diverse and inclusive, operating committee, responsible for global strategy and local execution through local Diversity Ambassadors also meets on a regular basis.
Our diverse workforce reflects our global customer base. Women@Paysafe, a colleague-led global network, has 200 members with regular interaction, idea generation and discussion through our internal social networking tool JAM.
Open Mind is our diversity and inclusion (incl. Bias) awareness training. It is mandatory for all our employees to take on a biennial basis. The training is designed to make our people think about the impact of unconscious bias on their relationships and consider situations where they can take action to be more open-minded to difference. The intention is to demonstrate that we all have a responsibility to actively challenge the assumptions we may have about others, how we can all display bias and be on the receiving end of it. Furthermore, senior managers are asked to participate in diversity and inclusion workshops to understand their role and responsibilities from a leadership perspective and ensure that we lead by example and foster the culture from the top.
Supporting colleagues with families
Paysafe fosters an environment and creates an experience that welcomes and supports colleagues with families (including the needs of extended families). Workplace practices in all locations support flexible and remote working, benchmark maternity and paternity rights, provide leave and return to work policies – all of which are aimed to allow all employees to balance the needs of home versus that of work.
Embracing gender diversity
We continue to focus on gender diversity as a core objective of our Diversity and Inclusion strategy. We know we have work to do to meet our objectives and have multiple initiatives underway including:
- Strengthening the pipeline of talented women through stronger recruitment practices, fast track training, coaching and mentoring.
- Sponsors and contributors to industry groups including Wnet, Women in PayTech and Women in Gaming.
- Founding member of the new FT 125 Women’s Forum, launched in October 2016, which aims to help talented women at mid-career level to progress into leadership roles. Through regular events, the forum is designed to engage participants in new thinking around topics such as digital innovation, leadership and attracting and retaining talented women.
- A drive to promote the advancement of women in technology, supporting events such as female hackathons, and female savvy recruitment practices, fairs and agencies.
- Last year Paysafe took part in the Hampton-Alexander Review. Backed by the UK government, the review looks for ways to improve the representation of women below the board in the senior layers of FTSE 350 companies.
- Signed the UK women in finance charter, holding Paysafe accountable to ensuring that women represent at least 30 percent of our senior talent (vice president and above) by 2023.
Paysafe ensures that all our colleagues are treated equally in the workplace. We are committed to providing equal pay for equal work.
Our gender pay gap, a comparison of the average pay across all men at the firm compared with the average pay of all women at the firm, reflects our current reality that there are more men than women in senior positions in our organization.
We are a meritocracy, and gender is not a factor in the way that we pay our people. We pay women and men in the same way, using the same compensation criteria, including the nature of their role and their performance.
The fundamental challenge we should all be focused on is increasing the representation of women at senior levels. This is where the real imbalance lies and requires attention at the earliest stages of recruitment to attract more women to financial services roles.
Improving engagement and raising awareness
Paysafe runs an annual pulse (engagement survey) for all employees which includes a net promoter score (NPS) question. In 2017 92% of our employees participated in the survey and gave us a NPS score of +30 (+32 women and +28 men) i.e. we were ranked 30 points ahead of the industry norm for comparable organisations. On being asked if their development is actively encouraged, employees scored 69% (66% female and 70% male). And when asked the question whether they are learning new skills and growing the response was 73% (72% women and 73% men).
In 2018, Paysafe will be embarking on a long-term relationship with an engagement partner, GLINT. GLINT is a continuous engagement tool, leveraging AI. AI is capable of extracting specific actionable insights that would otherwise be difficult, if not impossible, to identify through manual analysis. It quickly surfaces hidden patterns and anomalies in people data, predicts outcome and risk, and prescribes solutions and interventions.
Diversity and Inclusion is a journey, but one in which we are fully committed to being on throughout the organisation. People matter to us and we fully recognize how critical it is to recruit and retain a diverse group of people who bring a broad range of experiences, capabilities and perspectives to our organization.