Paymerang Recognized for Its Unique Professional Development Philosophy by Senior Executive Media
Senior Executive Media recently featured an interview with Paymerang CEO, Nasser Chanda, on his lateral professional development philosophy. In the article, he discusses how Paymerang helps employees unlock opportunities within their departments and find new ways to innovate.
See below for an excerpt from the article, or click here.
Associate, manager, director, vice president — those are typically the rungs employees climb when scaling the corporate ladder. At Paymerang, CEO Nasser Chanda encourages employees to knock the ladder over and explore opportunities across departments.
“I don’t want people to just think linearly about ‘I need to go from manager to director,’” he says. “I want them to think, ‘How do I broaden my horizons, broaden my mind and do things that I love to do?’”
Based in Richmond, Va., Paymerang specializes in Invoice and Payment Automation. Of the company’s 200 employees, 103 were hired last year, and 50 received promotions in 2021. Paymerang currently operates under a hybrid work model and offers top tier benefits, paying 100% of health care and contributing 6% to employee’s 401(k)—vested on day one.
Chanda says the company helps employees with career development — both unlocking opportunities within their departments of the company and finding ways to break into new areas where their passions lie. Chanda says the company has seen entry-level operations employees move into marketing, and people around the office pivoting into product or finance.
“Culture is big for us. We want you to come here and feel like this is a place where you love the people you work with and you live the mission of the company. And we want you to feel connected to that,” said Chanda.
When new hires walk through the door, there’s a clear agenda for their first two weeks as they get paired with a learning and development coach. Once that happens, part of a team, and the team has a lead. The team is empowered to provide them (the new hire) more and more freedom and growth (over time). Peers are responsible for teaching each other, while team leads exercise the “invisible hand” to monitor employee growth.
The secret to lateral training lies in Paymerang’s people development philosophy. “That allows us to think of it (development) as a very necessary and deliberate part of the fabric of Paymerang — and not just something that happens annually or on the side,” Chanda says.