How Xoxoday, Powered by a People-First Culture, Turned the Great Resignation Into a Great Recruitment
The ‘Great Resignation‘ has been a defining moment of this pandemic, with companies across the globe facing a spate of resignations since March 2021. However, for Xoxoday, a rewards, incentives, and payouts technology company, this turned out to be a period of ‘Great Recruitment‘. In the last six months, Xoxoday hired more than 100 people across multiple levels taking the team from 150 to 250+ employees, without any layoffs during 2020 and 2021. The key differentiator is its people-first approach to culture and products right from the start of its journey in 2018. Believing that its people are its number one competitive advantage, Xoxoday built Empuls, an all-in-one employee engagement platform, to create a people-first culture where their employees feel motivated, heard, and connected. This internal success with Empuls paved the way for its launch for SMBs during the pandemic. Empuls garnered a positive response from many of Xoxoday’s clients who chose to invest in their people and are leveraging Empuls to reap the benefits of creating a people-first culture.
Some introductions: Xoxoday was co-founded by Manoj Agarwal, Sumit Khandelwal, Kushal Agrawal, and Abhishek Kumar, a passionate quartet of entrepreneurs whose shared mission has been to solve the complex, everyday problem of human motivation, using technology. Xoxoday began its journey as a horizontal infrastructure platform that helps businesses disburse payouts, rewards, incentives, and benefits to their employees, customers, sales, and partners. At the same time, Xoxoday’s co-founders decided to focus on three key facets: people, products, and processes (placing equal importance on all three) to achieve scale with agility.
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This clarity had three consequences.
One, it culminated in developing their other two products, Empuls and Compass. Xoxoday created Compass at the same time as Empuls to remove some of the pain points that sales teams face through gamification and real-time sales commissions; a welcome twist to product-led growth!
Second, it helped them unearth and find a unique bunch of people: ex-founders, entrepreneurs in hiatus, and non-entrepreneurs who were leaders waiting to take wings, to helm different departments of their three products. Xoxoday has added 20 people in various leadership positions during its Great Recruitment Drive. Fifteen of them are ex-founders & ex-entrepreneurs, while the others have jumped onto this mothership after stints in multiple MNCs. Notably, today Xoxoday has over 40+ ex-entrepreneurs working full time. Speaking about joining Xoxoday after being a tech co-founder (Ridingo acquired by Carzonrent), Srivatsan Mohan, CTO Empuls voices, “One of the remarkable facets of Xoxoday’s founding team is their complete transparency and honesty.”
Three, Xoxoday has continuously endeavored to automate processes across all its functions so that its people can focus on value-driven and meaningful work. For example, to automate their finance division, Xoxoday used Tally APIs and custom-built heavily on Tally to ensure that the basic Tally version was personalized to Xoxoday’s accounting needs. Other tools such as DocuSign, Digio APIs, Saral, Relyonsoft, and Easy Software were adopted to:
- Enable easy compliance and tax management
- Eschew manual sharing and signing of legal documents, and
- Minimize the number of steps in getting signed company documents for Government submissions.
Xoxoday has similarly evaluated, tested, and implemented tools and products to free up its people in all the departments.
To sum up, being a forerunner in putting people and culture at the center of business growth has served Xoxoday in good stead. The numbers speak for themselves. Mainly bootstrapped, Xoxoday’s annual revenues will be touching a net revenue of 10 million USD this year.
At a time when organizations, large and small, are forced to introspect about their culture, Xoxoday stands tall.
Quoting Manoj Agarwal, Co-founder, Xoxoday, “Founders must be finders first. We firmly believe in a first-principle-driven philosophy. We are always seeking to work with people who have an entrepreneurial mind-set and want to help other companies to architect or re-architect their growth through our products.”
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