‘Investing for good’ in the financial services industry

Danna Peña

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‘Investing for good’ in the financial services industry
Capital One Philippines isn’t just a Fortune 125 Company, it is also home to Filipino talent

MANILA, Philippines – At Capital One Philippines Support Services Corporation, the 3000-strong workforce isn’t referred to as ‘employees.’

Instead, they’re called ‘associates,’ because Capital One believes that every agent, team leader, and technical officer is the company’s partner towards growth.

“We tell them, ‘You are an owner of this company. You are here to help us be the best that we can,’” says Peter Hayden, General Manager of Capital One Philippines. “I want this to be the place where the best talent in the Philippines comes to do the greatest work of their lives.”

Since he joined Capital One in 2008, Hayden has been managing teams in the company’s credit card business and leading large-scale strategic change initiatives while managing its technology portfolio. Prior to joining Capital One, he served as an officer at the U.S. Navy.

I want this to be the place where the best talent in the Philippines comes to do the greatest work of their lives.

– Capital One Philippines General Manager Peter Hayden

When Hayden was given the opportunity to help grow Capital One in the Philippines, it only took him 5 minutes to say yes. During his military days, he says that he got the chance to work closely with people from the Philippines, and the “ethics, the values, and the camaraderie” of the Filipino people are what struck him the most.

“One of the largest sectors of the Philippine economy is the customer service industry,” Hayden observes. “Filipinos have an inherent native digital talent. There is an unbelievably great population of young, very bright people.”

As the head of Capital One’s first in-house, offshore operations, Hayden ensures that the company practices excellence and does the right thing in every aspect of the business. Capital One Philippines is committed to harnessing the full potential of each of their associates – a mission they call “Investing for Good.”

Ready to work, ready to serve

At Capital One Philippines, associates aren’t just taught to excel on the job ­– they’re also trained to develop a sense of community and purpose. 

Two and a half years ago, Capital One Philippines partnered with Tuloy Foundation, a non-government organization that aids disadvantaged youth, to build the first-ever Contact Center Readiness Program in the Philippines accredited by TESDA.

In the 6-month classroom program, the volunteers – who are Capital One Philippines associates – teach students skills necessary for a successful career in providing world-class customer service. Subjects taught include English, computer skills such as Microsoft Word, PowerPoint, and Excel, and financial literacy, among others.

After graduating from the program, students undergo a 3-month internship in the Alabang site where they are rotated in every line of the business. This helps the interns realize their fullest potential and propel them into starting a successful career in the industry. 

After the internship, they are then interviewed by Capital One Philippines to get a chance to become associates.

“We interview and try to hire every single one of the graduates,” Hayden says. “But we don’t change anything – we give them the exact same interview and process that an experienced agent or an experienced customer service professional undergoes when applying.”

From two batches, 16 students have gone on to become full-fledged associates of Capital One Philippines. Other graduates have also landed jobs at other leading customer service companies.

“Before I became part of the program, I had low self-esteem,” says Analiza Navarette, one of the program’s graduates. “This program helped me build my confidence, find a job, and dream of a better future.”

According to Hayden, it is not uncommon to hear similar testimonials from other graduates: stories about finally being able to earn enough to pay debts, buy appliances, get medicine; of not having to worry about where to buy the next meal; of saving for their sisters’ and brothers’ education. 

“For a lot of these students, at one point in their life, they may have been abandoned or told that they’ll never amount to anything. Now, they have a role and a purpose and they’re doing amazing things, helping customers, helping our associates,” Hayden says. 

Hayden himself visits and teaches the students once a week, along with many associates. “We almost have a 100% volunteer rate, which means that almost every single associate has contributed in some way volunteering outside work,” Hayden reports. “It’s the right thing to do for the community, but the giver also receives in so many ways. It’s a way for our associates to really live and experience our values.”

From associates to future leaders

On the job, Capital One Philippines associates are exposed to learning and development programs that can steer them towards gaining management and leadership positions in the company.

Some of the skills associates can learn from the company’s training activities include agile methodology, project management, or analytics.

Capital One Philippines associates are provided with a career roadmap that allows them to grow professionally in the financial services industry. Photo by Capital One Philippines

Hayden adds that Capital One Philippines makes sure to recognize outstanding members of the team regularly. “We have a program for our associates who exemplify delivering on our mission and bringing humanity to our banking. We just had an associate who just won this for the whole company, his story went out to 42,000 employees across the globe,” he says.

Hayden describes the company’s work culture as very open and collaborative. His ideal future hires would be people who are inquisitive, who will really put their brain in the game, and help Capital One Philippines be a better organization.

“The biggest thing that we look for is someone who has values that are in line with Capital One’s. Someone who wants to be part of something bigger and broader than just coming in here to get a paycheck,” he explains.

“I always tell [the associates]: ’I hope the future General Manager is sitting in this class,’ because everybody has a shot at that,” Hayden says. – Rappler.com

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