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

Inside the $4.3B Quarter: What’s Fueling Black Banx’s Record Revenues

Published

4 weeks ago

January 16, 2026

Matthew Wiles

Every quarter brings fresh headlines in fintech, but few make the kind of impact achieved by Black Banx in Q2 2025. The Toronto-based global digital banking group, founded by Michael Gastauer, reported an extraordinary USD 4.3 billion in revenue and a record USD 1.6 billion in pre-tax profit, while improving its cost-to-income ratio to 63%.

These results not only highlight the company’s operational efficiency but also mark a pivotal moment in its journey from challenger to global leader. The big question is: what’s fueling such impressive financial performance?

Customer Growth as the Core Driver

One of the clearest engines of revenue growth is Black Banx’s expanding customer base. By Q2 2025, the platform had reached 84 million clients worldwide, up from 69 million at the end of 2024. This 15 million net gain in six months demonstrates both the attractiveness of its services and the scalability of its model.

Unlike traditional banks, which rely heavily on branch expansion, Black Banx leverages digital-first onboarding that allows customers to open accounts within minutes using just a smartphone. This approach is especially effective in regions underserved by legacy institutions, where access to affordable financial tools is in high demand.

More customers don’t just mean higher transaction volumes—they generate a compounding effect where network size, brand trust, and service adoption reinforce one another.

Real-Time Payments and Cross-Border Solutions

A major contributor to Q2 revenues is the platform’s real-time payments infrastructure. Black Banx enables instant cross-border transfers across its 28 supported fiat currencies and multiple cryptocurrencies, helping both individuals and businesses bypass the traditional bottlenecks of international banking.

For freelancers, SMEs, and multinational clients, this means faster liquidity, reduced foreign exchange costs, and simplified global operations. The demand for real-time financial services is growing rapidly—Juniper Research projects global real-time payments turnover to hit USD 58 trillion by 2028—and Black Banx is strategically positioned to capture a significant share of this market.

Crypto Integration as a Revenue Stream

Another key revenue driver is crypto integration. While many traditional institutions remain hesitant, Black Banx embraced digital assets early and has built infrastructure to support Bitcoin, Ethereum, and the Lightning Network. In Q2 2025, 20% of all transactions on the platform were crypto-based, reflecting strong customer appetite for hybrid banking services that bridge fiat and digital assets.

Revenue comes not only from transaction fees but also from value-added services like crypto-to-fiat conversion, staking yields (4–12% APY), and blockchain-enabled payments. For customers in markets with unstable currencies, these services act as a financial lifeline, further expanding the platform’s relevance.

AI-Powered Efficiency and Risk Management

Record revenues would be less impressive if costs ballooned at the same rate. But Black Banx has proven adept at balancing growth with efficiency. Its cost-to-income ratio improved to 63% in Q2, down from 69% a year earlier, thanks to heavy reliance on AI-powered automation.

AI now drives fraud detection, compliance, and customer onboarding—areas where traditional banks often struggle with cost inefficiencies. By automating these processes, Black Banx can process millions of transactions securely while maintaining profitability at scale. This level of efficiency is rare in fintech, where high growth often comes at the expense of margins.

Regional Expansion and Untapped Markets

Geography also plays a role in fueling revenues. Much of the Q2 growth came from Africa, South Asia, and Latin America—regions where demand for mobile-first banking continues to soar. In 2024 alone, Black Banx reported a 32% increase in SME clients from the Middle East and Africa, signaling the strength of its positioning in underserved markets.

By extending services to populations previously excluded from formal banking—migrant workers, rural communities, and small businesses—Black Banx taps into vast pools of latent demand. The strategy proves that financial inclusion and profitability are not mutually exclusive but mutually reinforcing.

Diversified Revenue Streams

Another factor behind Q2’s record revenues is Black Banx’s diversified business model. Income is not tied to a single service but spread across multiple streams, including:

Transaction fees from cross-border transfers and payments.
Crypto trading and exchange services.
Premium account features for high-net-worth clients.
Corporate services for SMEs and international businesses.

This diversification insulates the company against volatility in any single segment, creating stable revenue growth even in shifting market conditions.

Michael Gastauer’s Strategic Blueprint

Behind these results is Michael Gastauer’s long-term strategy: scale aggressively but with efficiency, innovation, and inclusion at the core. His vision has always been to create a borderless financial ecosystem, and Q2 2025’s performance is evidence that this vision is not only achievable but sustainable.

By balancing mass-market accessibility with premium features, and by blending fiat with digital assets, Gastauer has positioned Black Banx as a category-defining player in global finance.

The Road Ahead: Toward 100 Million Clients

Looking forward, the company’s goal of reaching 100 million customers by the end of 2025 will likely be the next catalyst for revenue growth. More customers mean more transactions, more data insights, and more opportunities to refine and expand its service offering.

If current momentum holds, the USD 4.3 billion quarterly revenue milestone could be just the beginning of an even larger growth story. The challenge will be ensuring systems scale securely while maintaining trust in an environment where privacy and compliance are paramount.

A Record That Signals More to Come

Black Banx’s Q2 2025 performance—USD 4.3 billion in revenue, USD 1.6 billion in pre-tax profit, 84 million clients worldwide, and a lean 63% cost-to-income ratio—is more than a financial milestone. It is a signal of how the future of banking is being rewritten by platforms that are borderless, crypto-inclusive, and data-driven.

What fueled this record-breaking quarter is not one innovation but a combination of strategies—scalable onboarding, real-time payments, crypto integration, AI efficiency, and expansion into underserved regions. Together, they form a model that doesn’t just challenge traditional banking but actively builds the foundation for global dominance.

For Black Banx, the road ahead is clear: the $4.3 billion quarter is not an endpoint but a launchpad for even greater scale and profitability.