Business

How to Fight Back Against High Employee Turnover

Published

5 years ago

October 30, 2020

When building and growing an organization, few things are more frustrating or costly than high employee turnover. But with the right approach, you should be able to fight back, improve loyalty, and put your business back on the right path.

Common Causes of High Employee Turnover

Every business is unique, but high employee turnover can almost always be boiled down to a combination of the following factors:

Overworked. Employees are fine working hard, but there’s a fine line between high expectations and unrealistic expectations. As employees become overworked, they become much more prone to burnout. This creates friction and produces challenges with engaging employees and keeping them on board with the company’s mission and goals.

Toxic culture. The marks of a toxic culture include hostile interactions, lack of equality (in opportunity and/or pay), high stress levels, poor motivation, and poor morals. As the toxicity increases, so does the turnover rate.

Boredom. Employees want to feel energized in their work. Too much boredom can result in disengagement and (eventually) turnover.

Lack of opportunity. Employees want to know that they have the opportunity to get promotions and pay raises. If they don’t see other employees moving up the corporate ladder, they’ll become discouraged and look for better opportunities elsewhere.

Bad boss. There’s a saying that says, “People don’t leave their jobs, they leave their managers.” If you have a bad boss who is incomptenent, rude, overbearing, or insensitive, it’s going to hurt your cause. Employees might put up with it for a few months, but it’ll eventually push them out.

Strategic Ways to Reduce Turnover

There are plenty of legitimate reasons why employees leave – including a better offer, starting their own business, or pivoting careers. And there really isn’t much you can do about these factors. But then there are controllable elements. You’re in control over the factors above. Now’s the time to strategically change the way you approach your business. Here are some helpful tips:

Develop a Better Employee Experience

Whether you’ve documented it or not, your company has an employee experience. It’s essentially everything a worker learns, does, feels, or sees at each stage of their employment lifecycle. This includes five key phases: recruitment, onboarding, development, retention, and exit.

If you want to boost retention by reducing turnover, you have to take employee experience seriously. And by focusing on each of the five stages, you’re able to tailor the experience without compromising on the big picture. In other words, you can keep a consistent culture while still providing a unique experience to employees who are just now being onboarded and those who have been on the payroll for years.

Hire the Right People

You can do yourself a massive favor by hiring people who are a good cultural fit for your organization. (Otherwise you’ll face an uphill battle from the very start.) This is accomplished by clearly defining the role – both to the candidate and to your hiring team – and to implement a detailed due diligence process.

Terminate Toxic People

Don’t let toxic people stick around. The longer a toxic employee is in your business, the more likely it is that their behavior becomes contagious. Terminate people who don’t fit as quickly as possible. Not only does this eliminate the toxic source, but it also shows your remaining employees that you don’t put up with that kind of behavior.

Go Beyond Money

Contrary to popular belief, money is not the best motivator. While a pay raise or bonus can work, its effects are usually short-lived. Within a few weeks or months, the employee will begin looking for the next raise.

To motivate employees and make them loyal to the organization, you have to go beyond money. Find out what it is your employees really want. Good motivators include status, autonomy, flexibility, and verbal affirmation.

Create a Clear Sense of Identity

This tip goes hand in hand with the idea of developing a better employee experience. The goal is to establish a clear company identity so that employees have something tangible to hold onto.

In other words, if asked the question, Why do you like working for our company?, every employee should be able to articulate what it is that keeps them loyal to the business. The exact phraseology might vary, but most of the answers should land near the same target.

Build a Sustainable Business

There’s a lot that goes into building successful and sustainable businesses. But it’s nearly impossible to scale if you don’t have a stable team of people who are committed to your cause. Having said that, now’s the time to reevaluate where you stand and build a business that puts people first. In doing so, you’ll establish the foundational cornerstones needed to grow over the next few years and decades.

Business

High Volume, High Value: The Business Logic Behind Black Banx’s Growth

Published

2 weeks ago

June 16, 2025

Matthew Wiles

In fintech, success no longer hinges on legacy prestige or brick-and-mortar branches—it’s about speed, scale, and precision. Black Banx, under the leadership of founder and CEO Michael Gastauer, has exemplified this model, turning its high-volume approach into high-value results.

The company’s Q1 2025 performance tells the story: $1.6 billion in pre-tax profit, $4.3 billion in revenue, and 9 million new customers added, bringing its total customer base to 78 million across 180+ countries.

But behind the numbers lies a carefully calibrated business model built for exponential growth. Here’s how Black Banx’s strategy of scale is redefining what profitable banking looks like in the digital age.

Scaling at Speed: Why Volume Matters

Unlike traditional banks, which often focus on deepening relationships with a limited set of customers, Black Banx thrives on breadth and transactional frequency. Its digital infrastructure supports onboarding millions of users instantly, with zero physical presence required. Customers can open accounts within minutes and transact across 28 fiat currencies and 2 cryptocurrencies (Bitcoin and Ethereum) from anywhere in the world.

Each customer interaction—whether it’s a cross-border transfer, crypto exchange, or FX transaction—feeds directly into Black Banx’s revenue engine. At scale, these micro-interactions yield macro results.

Real-Time, Global Payments at the Core

One of Black Banx’s most powerful value propositions is real-time cross-border payments. By enabling instant fund transfers across currencies and countries, the platform removes the frictions associated with SWIFT-based systems and legacy banking networks.

This service, used by individuals and businesses alike, generates:

Volume-based revenue from transaction fees
Exchange spreads on currency conversion
Premium service income from business clients managing international payroll or vendor payments

With operations in underserved regions like Africa, South Asia, and Latin America, Black Banx is not only increasing volume—it’s tapping into fast-growing financial ecosystems overlooked by legacy banks.

The Flywheel Effect of Crypto Integration

Crypto capabilities have added another dimension to the company’s high-volume model. As of Q1 2025, 20% of all Black Banx transactions involved cryptocurrency, including:

Crypto-to-fiat and fiat-to-crypto exchanges
Crypto deposits and withdrawals
Payments using Bitcoin or Ethereum

The crypto integration attracts both retail users and blockchain-native businesses, enabling them to:

Access traditional banking rails
Convert assets seamlessly
Operate with lower transaction fees than those found in standard financial systems

By being one of the few regulated platforms offering full banking and crypto support, Black Banx is monetizing the convergence of two financial worlds.

Optimized for Operational Efficiency

High volume is only profitable when costs are contained—and Black Banx has engineered its operations to be lean from day one. With a cost-to-income ratio of just 63% in Q1 2025, it operates significantly more efficiently than most global banks.

Key enablers of this cost efficiency include:

AI-driven compliance and customer support
Cloud-native architecture
Automated onboarding and KYC processes
Digital-only servicing without expensive physical infrastructure

The outcome is a platform that not only scales, but does so without sacrificing margin—each new customer contributes to profit rather than diluting it.

Business Clients: The Value Multiplier

While Black Banx’s massive customer base is largely consumer-driven, its business clients are high-value accelerators. From SMEs and startups to crypto firms and global freelancers, businesses use Black Banx for:

International transactions
Multi-currency payroll
Crypto-fiat settlements
Supplier payments and invoicing

These clients tend to:

Transact more frequently
Use a broader range of services
Generate significantly higher revenue per user

Moreover, Black Banx’s API integrations and tailored enterprise solutions lock in these clients for the long term, reinforcing predictable and scalable growth.

Monetizing the Ecosystem, Not Just the Account

The genius of Black Banx’s model is that it monetizes not just accounts, but entire customer journeys. A user might:

Onboard in minutes
Deposit funds from a crypto wallet
Exchange currencies
Pay an overseas vendor
Withdraw to a local bank account

Each of these actions touches a different monetization lever—FX spread, transaction fee, crypto conversion, or premium service charge. With 78 million customers doing variations of this at global scale, the cumulative financial impact becomes immense.

Strategic Expansion, Not Blind Growth

Unlike many fintechs that chase customer acquisition without a clear monetization path, Black Banx aligns its growth with strategic market opportunities. Its expansion into underbanked and high-demand markets ensures that:

Customer acquisition costs stay low
Services meet genuine needs (e.g., cross-border income, crypto access)
Revenue per user grows over time

It’s not just about acquiring more customers—it’s about acquiring the right customers, in the right markets, with the right needs.

The Future Belongs to Scalable Banking

Black Banx’s ability to transform high-volume engagement into high-value profitability is more than just a fintech success—it’s a signal of what the future of banking looks like. In a world where agility, efficiency, and inclusion define competitive advantage, Black Banx has created a blueprint for digital banking dominance.

With $1.6 billion in quarterly profit, nearly 80 million users, and services that span the globe and the blockchain, the company is no longer just scaling—it’s compounding. Each new user, each transaction, and each feature builds upon the last.

This is not the story of a bank growing.

This is the story of a bank accelerating.