Click here to close now.

SYS-CON MEDIA Authors: Elizabeth White, Pat Romanski, Yeshim Deniz, Liz McMillan, tru welu

News Feed Item

Forex Club: From a Successful Russian Business Culture to a Global One

MOSCOW, October 11, 2012 /PRNewswire/ --

  • FOREX CLUB demonstrates leadership for other Russian-founded organisations with global commercial interests and a large and geographically dispersed workforce
  • Global business growth supported by changes to internal communications and practice to attract and retain the best of international talent and a multi-cultural, multinational workforce

Speaking at the 13th Russia and CIS HR Directors Summit held in Moscow on 4-5 October, Olesya Oblasova, HR Director of FOREX CLUB, a leading online broker[1], gave a presentation on how its group of companies has transformed itself from being a Russian brand and culture to one with a greater international business environment, staff and practice.  

     (Logo: http://photos.prnewswire.com/prnh/20120517/533090 )

While FOREX CLUB proudly embraces its Russian heritage, a decision was made in Q4 2010 at the corporate level in support of the group of companies' strong global business goals.  One key requirement to do this was to foster an international work environment, staffing, culture and communications practice.  As a result, from January 2011 on, the HR Department in its core role to oversee all staff and recruitment processes, spearheaded the initiative to encourage and grow a global, multi-cultural, multi-language work environment.   The key process involved an ongoing, concerted effort proactively to communicate messages across the business to all staff, both from a top-down and bottom-up series of communication channels.

About the Summit: The Russia and the CIS HR Directors Summit is a major annual meeting for exchange of experience, discussion of new strategies and global trends, case studies presentations, review of topical studies, live discussions and roundtables.  Olesya Oblasova's speech was well-received by the audience of approximately 500 HR professionals from a wide range of industry sectors. FOREX CLUB is one of a number of Russian-based and respected brands that has demonstrated leadership for other Russian-founded organisations with global commercial interests and a large and geographically dispersed workforce.

With clients spanning 120 countries, FOREX CLUB Group of Companies has over 650 employees in 60 offices across several countries, including throughout the Russia Federation and CIS, as well as in USA, Malaysia, Brazil and China. Yet at the beginning of 2011, 99% of staff were either Russian or CIS nationalities.  Since then, there has been an increase by approximately 10% in the employment of non-Russian staff, most notably at the management level (i.e., management of both staff and global departments).

Process and approach: In order to compete more effectively on a global scale and to attract staffing talent on a worldwide basis, the company decided to influence a positive change within its corporate culture by implementing a series of international best practice communication standards, which included:

1. Making English the official second language of its group of companies

Formal communication channels were published in two languages - English and Russian. To help managers who spoke only Russian, the company employed a translator and signed contracts with several translation agencies. The HR Department also heavily invested in all staff, irrespective of location, having access to online and/or face-to-face language training (Russian and English).  The English version of the website portal was updated and synchronised with the Russian version with regard to news and documents published from January 2011.  It became routine and compulsory from that date for all communications to published always in bilingual versions and on both the Russian and English versions of its global intranet sites.  Online and face-to-face meetings were also conducted in two languages.

2. Introducing a new structure for internal communications based on the "diffusion of innovations" marketing model

FOREX CLUB introduced a segmented approach to communicating ideas and information throughout its business operations, based on the 'Diffusion of Innovations' model[2] created by Everett Rogers.  It is a 'top down/bottom up' communications practice.  'Top-down' initiatives include: Monthly team briefings using a core brief template to supplement the monthly online conferences by the CEO; performance appraisals; open door policy throughout each office/branch; and a meeting with the CEO for all new employees.  To ensure effective feedback on staff's well-being, a number of 'bottom-up' communications initiatives were introduced, including: Monthly team briefings; and satisfaction surveys. Annual employee satisfaction surveys were also set up to allow regular feedback to all staff and to assess employee engagement levels.

Commenting on the implementation of these procedures, Olesya Oblasova said:  "We are proud to have established significant and positive change in our group of companies by helping to build a truly global and unified brand from which everyone benefits.  But it would be complacent of us to think that this is a one-time effort.  Ongoing benefits are contingent upon continuous investment in - and attention to - communications and staff engagement, so our communications and culture are areas that we are committed to improving continuously."  

About FOREX CLUB Group of Companies

Established in 1997, FOREX CLUB (the company) is the brand name for a group of companies that provides clients from over 120 countries with platforms and services for trading forex, CFDs and other online trading and educational products. We offer every client effective tools in training, analytics and education, as well as personal support where they want it. FOREX CLUB has over 650 employees worldwide.  In 2011, over 45,000 traders chose to learn forex trading with us. FOREX CLUB was one of the industry's first to offer zero spread trading and commission refunds on all unprofitable trades.

We are committed to the developed standards set forth by government regulators and one of our company's priorities is to conduct business in strict compliance with current regulatory requirements of the markets within which we operate. Our Russian broker, LLC FOREX CLUB, is a founding member of CRFIN, the Russian self-regulatory organisation.

The structure of FOREX CLUB Group of Companies includes a range of brokers and training centres, including FOREX CLUB INTERNATIONAL LIMITED, and the International Academy of Investments and Trading (license #025928). For information on our business, please click here.

1. FOREX CLUB was rated one of the top ten global brokers by retail forex volume in Forex Magnates' Q4 2011 and Q1 2012 Industry Reports.

2. This highly successful model was created by Everett Rogers [http://en.wikipedia.org/wiki/Everett_Rogers ] (1931-2004), an academic whose published work made him one of the world's leading authorities on communications theory and practice, and education.


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
The move to the cloud brings a number of new security challenges, but the application remains your last line of defense. In his session at 15th Cloud Expo, Arthur Hicken, Evangelist at Parasoft, discussed how developers are extremely well-poised to perform tasks critical for securing the application – provided that certain key obstacles are overcome. Arthur Hicken has been involved in automating various practices at Parasoft for almost 20 years. He has worked on projects including database dev...
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...
“Oh, dev is dev and ops is ops, and never the twain shall meet.” With apoloies to Rudyard Kipling and all of his fans, this describes the early state of the two sides of DevOps. Yet the DevOps approach is demanded by cloud computing, as the speed, flexibility, and scalability in today's so-called “Third Platform” must not be hindered by the traditional limitations of software development and deployment. A recent report by Gartner, for example, says that 25% of Global 2000 companies will b...
Big Data is amazing, it's life changing and yes it is changing how we see our world. Big Data, however, can sometimes be too big. Organizations that are not amassing massive amounts of information and feeding into their decision buckets, smaller data that feeds in from customer buying patterns, buying decisions and buying influences can be more useful when used in the right way. In their session at Big Data Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positi...
JFrog on Thursday announced that it has added Docker support to Bintray, its distribution-as-a-service (DaaS) platform. When combined with JFrog’s Artifactory binary repository management system, organizations can now manage Docker images with an end-to-end solution that supports all technologies. The new version of Bintray allows organizations to create an unlimited number of private Docker repositories, and through the use of fast Akamai content delivery networks (CDNs), it decreases the dow...
More organizations are embracing DevOps to realize compelling business benefits such as more frequent feature releases, increased application stability, and more productive resource utilization. However, security and compliance monitoring tools have not kept up and often represent the single largest remaining hurdle to continuous delivery. In their session at DevOps Summit, Justin Criswell, Senior Sales Engineer at Alert Logic, Ricardo Lupo, a Solution Architect with Chef, will discuss how to ...
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, includin...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
Thanks to Docker, it becomes very easy to leverage containers to build, ship, and run any Linux application on any kind of infrastructure. Docker is particularly helpful for microservice architectures because their successful implementation relies on a fast, efficient deployment mechanism – which is precisely one of the features of Docker. Microservice architectures are therefore becoming more popular, and are increasingly seen as an interesting option even for smaller projects, instead of bein...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @Things...
Move from reactive to proactive cloud management in a heterogeneous cloud infrastructure. In his session at 16th Cloud Expo, Manoj Khabe, Innovative Solution-Focused Transformation Leader at Vicom Computer Services, Inc., will show how to replace a help desk-centric approach with an ITIL-based service model and service-centric CMDB that’s tightly integrated with an event and incident management platform. Learn how to expand the scope of operations management to service management. He will al...
In this scenarios approach Joe Thykattil, Technology Architect & Sales at TimeWarner / Navisite, presented examples that will allow business-savvy professionals to make informed decisions based on a sound business model. This model covered the technology options in detail as well as a financial analysis. The TCO (Total Cost of Ownership) and ROI (Return on Investment) demonstrated how to start, develop and formulate a business case that will allow both small and large scale projects to achieve...
The truth is, today’s databases are anything but agile – they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application and business needs change, data repositories and structures get outmoded rapidly, resulting in increased work for applica...