Managing a diverse internal team in a fintech startup requires a strategic and adaptive approach. Komunal, one of Skystar Capital’s portfolio startups, exemplifies how to create an inclusive and efficient work environment. They have successfully managed a team with varying generational backgrounds and resilience, driving significant impact on Indonesia’s regional economy through innovative banking solutions.
Komunal and BPR Situation in Indonesia
Since its establishment in 2019, Komunal has been committed to supporting the regional economy through a platform connecting Bank Perkreditan Rakyat (BPR) and its users. BPR plays a crucial role in providing banking and credit access to communities underserved by conventional banks. Despite a 12.62% reduction in BPR units compared to year 2022 due to regulatory adjustments by the Financial Services Authority, BPR’s total assets increased by 8.35% to Rp193.1 trillion as of November 2023 compared to the same period the previous year (Bisnis, 2024).
This growth underscores BPR’s vital role in the regional economy, a commitment encapsulated by Komunal’s hashtag #TumbuhBersamaKomunitas. This reflects their dedication to growing alongside stakeholders, including their team, users, and local communities. Komunal focuses on developing regions not yet reached by major commercial banks, particularly second- and third-tier cities in Indonesia.
Komunal’s Strategy in Managing a Remote Team
Since 2020, Komunal has embraced a “Work From Anywhere” (WFA) system. While this concept remains debated in various companies, Komunal views it as a strategic advantage to attract talent from different regions without requiring relocation to major cities like Jakarta. Rico Tedyono, Co-Founder & COO of Komunal, explains, “Komunal aims to attract talent from overseas or those who studied abroad, benefiting the local economy through decent compensation.”
Remote work also impacts local economies positively. Research by Choudhury et al. (2021) indicates that remote work can boost team members’ productivity, reduce stress, and increase creativity, efficiency, and job satisfaction. Maintaining engagement and collaboration among team members working from various locations poses challenges. Komunal addresses this by holding regular Town Hall Meetings and inviting employees to gather annually at a predetermined location. Rico ensures comprehensive communication through the KPI (Keep People Informed) principle, making everyone feel included and informed.
Komunal Effective Incentives and Performance Evaluation
Komunal recognizes the importance of fostering an inclusive and supportive work environment. To maintain team mental health, Rico provides a special channel called ‘saluran curhat’, where team members can express their concerns. This approach helps uncover issues that might not surface through formal communication channels and allows for better understanding of each team member.
Komunal employs a 360-degree performance evaluation system with semi-annual appraisals, providing constructive feedback and ensuring clear career paths based on performance. “We conduct it every semester, not annually, to clarify who truly deserves it,” Rico states, emphasizing that this applies to all employees.
Education at Komunal extends beyond certification to shaping the mindset of each team member. For example, financial literacy is emphasized through a restructured bonus system, shifting from annual to quarterly payments. This strategy encourages better financial habits and aligns with research from Harvard Business School, which shows that quarterly bonuses can significantly boost productivity and motivation .
How Komunal Driving Innovation and Growth
Komunal fosters innovation through democratic and coaching leadership styles. By involving the team in decision-making and encouraging input and feedback, Komunal ensures broad perspectives and well-considered decisions. “We must ensure that every input is heard, but for implementation, we need to be wise,” Rico states, highlighting the balance between inclusivity and practicality that drives the company’s growth and sustainability.
Through strategic management and innovative approaches, Komunal has successfully built an inclusive and efficient work environment. Their focus on remote work, comprehensive communication, mental health support, and financial literacy aligns with their mission to drive regional economic growth. Komunal’s story showcases the positive impact of proper organizational management on team performance and company sustainability.
Together with Skystar Capital, we aim to assist leaders in contributing as catalysts for growth. By leveraging our extensive network across various sectors—including media, financial services, healthcare, hospitality, and education—we are ready to create a positive impact to help empower startups and facilitate their growth.
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