Background 

Airwallex, a global fintech firm, is rapidly expanding in EMEA markets, including the UK, Netherlands and UAE. With scores of new hires in 2023 and a team of over 100 diverse employees, the company recognised the need to create a unified culture. Representing 38 nationalities globally Airwallex needed to tailor its diversity, equity and inclusion (DEI) and wellbeing efforts to meet the distinct needs of each region. With research showing that strong DEI and wellbeing initiatives reduce burnout and improve morale, Airwallex set out to develop a scalable EMEA strategy despite a very modest budget.

Approach 

Airwallex adopted a ground-up approach, using in-house talent to build a DEI and wellbeing framework that embedded inclusivity into every aspect of the organisation. This wasn’t treated as a standalone programme but integrated across three key areas: Bias was removed from recruitment processes by establishing unbiased interview frameworks and tracking diversity in the recruitment funnel. DEI surveys highlighted where women and other underrepresented groups were dropping out.

Secondly, a ‘Culture Champs’ group created a diversity calendar celebrating events like International Women’s Day and Pride to spark discussions on DEI issues. Finally, using the Gallup StrengthsFinder tool Airwallex helped leaders understand and celebrate their teams’ strengths. A rotational DEI committee, led by EMEA leadership, ensured that senior management actively shaped the company’s DEI strategy.

“Airwallex’s bespoke DEI and wellbeing strategy created a thriving, inclusive culture, raising employee engagement by 7% and fostering a greater sense of belonging across the EMEA team”

Airwallex also developed a comprehensive wellbeing plan based on eight pillars: emotional, occupational, environmental, physical, intellectual, social, financial and spiritual wellbeing. Two dedicated wellbeing weeks and monthly events promoted these areas, with topics like neurodiversity and stress management through breathing techniques. Additionally, manager training embedded these global values into performance reviews, with quarterly awards recognising employees who exemplified the company’s operating principles.

Outcome

Airwallex’s initiatives delivered strong results. The company now holds five DEI-related events per month, fostering inclusivity and awareness across the EMEA region. DEI surveys highlighted areas for improvement, such as a 64% male application rate, prompting diversity enhancements in recruitment. Bias training for managers further reinforced this effort.

Employee engagement rose significantly, from 73 in early 2023 to 78 by mid-2024. The wellbeing programme received high praise, with employees reporting better stress management and workplace satisfaction. Additionally, the integration of Airwallex’s global operating principles improved engagement scores, which increased from 72 to 76. The quarterly awards have become a key motivational tool for recognising employees who embody the company’s values.