Magazine article American Banker

A Fintech That Puts Family-First Policy into Action

Magazine article American Banker

A Fintech That Puts Family-First Policy into Action

Article excerpt

Byline: Rob Garver

Like the Silicon Valley startup scene with which it shares much of its DNA, today's fintech space tends to be a high-turnover business, with skilled employees constantly testing the market for their talents.

So when a company like Promontory Interfinancial Network is able to boast of a sub-15% turnover rate and can hold up a roster full of employees who have been with the company for a decade or more, it's worth asking how they do it.

According to CEO Mark Jacobsen, it's simple -- if not necessarily easy.

"Longevity is important to us," he said. "We don't expect to be the only stop on the train in someone's career, but we would certainly appreciate a good chunk of their time, if not their entire career with us."

When the company identifies an exceptional employee, he said, "We'll go to the ends of the earth to keep her."

In some cases, that means making accommodations for employees who can no longer remain near its inside-the-Beltway offices in northern Virginia. One of the company's earliest hires, now a senior account representative, has worked for Promontory remotely for years, with stops in Texas, Washington State, and most recently, Denver.

While other companies might have shied away from having someone in such an important position working off-site, Jacobsen said it was a no-brainer for Promontory.

"She's our most senior account representative and handles our most difficult accounts," he said. …

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