00:00:01 · Alex Carril, Valerie Danilenko
[00:00:01] S0: Hello, and welcome to the Revolut Insider podcast where we take a look at all things Revolut one episode at a time. I'm your host, Alex Carrill, and joining me today is Valerie Danilenko, head of expansions recruitment. [00:00:13] S1: We have to adapt to each market because each market is slightly different. We're hiring vigorously in The U. S. Right now. It's quite an exciting opportunity for somebody coming in because they get to build something. So we've had an increase in applications, and we're also having much warmer conversations with candidates as well. They seem to kind of understand Revolut, know about Revolut and what we're all about. [00:00:34] S0: Hi, Val. [00:00:34] S1: Hey, thanks for having me. [00:00:36] S0: Thank you so much for being here today. Val, you're responsible for expanding our teams internationally, and I know part of that is adapting our hiring process to local nuances, finding top talent, and maintaining our bar for excellence along the way. I'd love to ask you a few questions about what the framework that Revolut is taking to hire in these locations, and hopefully you can give some tips for candidates along the way. [00:00:55] S1: Yeah, absolutely happy to share, my experiences, and if it will help anyone, then great. [00:00:59] S0: Let's start with the general hiring strategy. So what's Revolut's framework to hiring in new locations and what's the logic behind these hiring decisions?
00:00:59 · Alex Carril, Valerie Danilenko
[00:00:59] S0: Let's start with the general hiring strategy. So what's Revolut's framework to hiring in new locations and what's the logic behind these hiring decisions? [00:01:07] S1: So we would build our teams according to our target operating model or TAUM, as we call it internally. So first we would hire kind of the senior executive team, and then we would hire according to each feature or product that we're looking to launch in that market. So for example, we may wanna launch a credit product. So we would hire a team that would focus on that. [00:01:28] S0: Makes sense. Yeah. So you basically need to build the team from scratch in order to develop this new feature that we want to offer to our customers there. [00:01:34] S1: Yes. We have a roadmap of what we're looking to launch, and then we also have a regulatory requirements that is expected from us in each jurisdiction. And that's what all feeds into the TOM. [00:01:45] S0: And that all encompasses that top down approach to building a team from scratch because we have to sometimes build from the CEO all the way down to a local team. [00:01:53] S1: Exactly. [00:01:54] S0: And after over a year working in expansions recruitment, what are some of the challenges you face when hiring in new markets?
00:01:54 · Alex Carril, Valerie Danilenko
[00:01:54] S0: And after over a year working in expansions recruitment, what are some of the challenges you face when hiring in new markets? [00:02:00] S1: So one, Revolut isn't as established in some jurisdictions compared to Europe. So we really have to sell Revolut as a brand. Two, I would say English language. So English language is our business language at Revolut. But in certain jurisdictions, only about five to 10% of the market speak English. And we are trying to target the best of the best. So that means our talent pool is even smaller. [00:02:25] S0: And I think having that level of English is also going to set them up for success when they collaborate globally. When we're talking about talent platforms and sourcing preferences, obviously it changes depending on the market, but how do we adjust our toolkit to reach these candidates? [00:02:42] S1: So we have to adapt to each market because each market is slightly different. Although LinkedIn is our biggest tool and our biggest source of candidates, it doesn't work in every single market. So for example, in Japan, it's not one of their most used. So we do have to look at more local platforms in order to reach those candidates. Also, conduct recruitment events globally, which has been quite successful for us in the past.
00:02:42 · Valerie Danilenko, Alex Carril
[00:02:42] S1: So we have to adapt to each market because each market is slightly different. Although LinkedIn is our biggest tool and our biggest source of candidates, it doesn't work in every single market. So for example, in Japan, it's not one of their most used. So we do have to look at more local platforms in order to reach those candidates. Also, conduct recruitment events globally, which has been quite successful for us in the past. [00:03:04] S0: So really finding candidates where they are going to them, whether it's a local platform or actually in person. It's interesting to hear a global blueprint and how we're adapting our hiring efforts to cultural norms and regional nuances. Let's zoom into The United States because it's a massive area. How are we developing and deepening our hiring presence there? [00:03:24] S1: So we're hiring vigorously in The US right now. It's quite an exciting opportunity for somebody coming in because they get to build something. Although we already have the frameworks in place because we have launched in other markets, they get to kind of adapt it that would suit The US market. Yeah. So in order to find the people that we're looking for, our approach is one, that we're mostly looking in the Tri State area just because we do have a New York office. Two, that we're really transparent with candidates. So we always advertise with the salaries on the job postings, but that we explain all of our benefits on the first initial call so candidates know exactly what they're getting into.
00:03:24 · Valerie Danilenko, Alex Carril
[00:03:24] S1: So we're hiring vigorously in The US right now. It's quite an exciting opportunity for somebody coming in because they get to build something. Although we already have the frameworks in place because we have launched in other markets, they get to kind of adapt it that would suit The US market. Yeah. So in order to find the people that we're looking for, our approach is one, that we're mostly looking in the Tri State area just because we do have a New York office. Two, that we're really transparent with candidates. So we always advertise with the salaries on the job postings, but that we explain all of our benefits on the first initial call so candidates know exactly what they're getting into. [00:04:02] S0: What are some of these benefits that US candidates can expect? [00:04:05] S1: A full time eligible employee, we would typically look at a performance bonus, four zero one ks. One cool feature that we offer is our global working from abroad policy, which allows somebody to work from a specific country for a certain amount of time. [00:04:18] S0: Yeah. We mentioned earlier that it can be challenging to hire people in locations where they may not be too familiar with Revolut. Obviously in Europe, that doesn't really happen. Most people know us there. But in The US, you find it's been easier after the announcement of the conditional approval from the OCC for Revolut's US National Bank.
00:04:18 · Alex Carril, Valerie Danilenko
[00:04:18] S0: Yeah. We mentioned earlier that it can be challenging to hire people in locations where they may not be too familiar with Revolut. Obviously in Europe, that doesn't really happen. Most people know us there. But in The US, you find it's been easier after the announcement of the conditional approval from the OCC for Revolut's US National Bank. [00:04:38] S1: Yes. So we've had an increase in applications, which is great. And we're also having much warmer conversations with candidates as well. They seem to kind of understand Revolut, know about Revolut and what we're all about. And also when it comes to actually closing the candidates, Revolut is seen as maybe a bit more established now and it's seen as less of a risk when candidates are coming from very traditional backgrounds as well. [00:05:01] S0: Because we're not a startup anymore. So that risk, let's say, that's associated with companies who might just be starting out is not really the case anymore. [00:05:08] S1: Exactly. [00:05:08] S0: And, you know, we're often known, I would say, for having multiple, some people might even say rigorous hiring stages. How have you seen US candidates kind of react to our hiring process? [00:05:21] S1: That's actually quite interesting because US candidates are very well equipped to multistage interview process. They're quite used to it and kind of the time that it takes. [00:05:31] S0: Because it's not just the multiple interview rounds, it takes some time. [00:05:34] S1: A few weeks.