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"What I hope this inspires in the wider HR community is a simple truth - you can scale without losing your soul. HR can be both data-driven and heart-led. When you build from trust and clarity, business performance naturally follows," says Monica Divik Agarwal, Group Head of People & Talent.
MoneyHero Group's transformation journey has been rooted in a simple conviction: when you put people first, performance follows.
Amid rapid expansion across five markets and the complexities of a post-IPO landscape, a people-first philosophy is what reshaped the organisation from within, Monica Divik Agarwal, Group Head of People & Talent, MoneyHero Group shares.
Overtime, the HR team evolved into a unifying force – streamlining regional systems, introducing a transparent Job Levelling Framework, and launching the RSU Award programme that empowers employees with real ownership in the company’s future.
Through initiatives such as #HearFromAHero and flexible work policies, the team helped cultivate a culture of connection, pride, and shared purpose – one where employees told their own stories because they genuinely believed in them. It was this renewed sense of belief, sparked by Monica and her team, that ultimately earned MoneyHero Group the silver award for 'Best HR Team (SME)' at the HR Excellence Awards 2025 in Singapore.
HRO catches up with Monica to uncover how she and her team are shaping a business performance model that’s both data-driven and deeply human at its core.
Q Tell us about one of your inspiring HR initiatives – what sparked the idea, and how did you know it was the right path to take?
Our journey began with a simple but powerful belief: when you put people first, performance follows. At MoneyHero Group, we were scaling rapidly across five markets while navigating post-IPO shifts and restructuring. We realised that sustainable growth couldn’t come from systems or processes alone — it had to come from people feeling seen, valued, and inspired. That became our North Star: “Putting People First at the heart of everything we do.”
We rebuilt HR from the inside out — unifying systems across the region, rolling out a transparent Job Levelling Framework, and introducing the RSU Award programme that gave the majority of our workforce a tangible stake in the company’s future. From our #HearFromAHero campaign to flexible work policies, every initiative was designed to rebuild connection, pride, and belonging.
We knew we were on the right path when employees began telling their own stories — not because they had to, but because they wanted to. That’s when we knew we hadn’t just restructured HR; we’d reignited belief.
Q Every journey has its ups and downs – can you share a challenge your team faced and how you worked through it together?
2024 tested us in ways we hadn’t expected. A major business restructuring left teams feeling uncertain and morale fragile. Engagement dipped, and the easy option would’ve been to focus on damage control. But instead, we leaned into humanity.
We doubled down on transparency, communication, and celebration. We created space for real conversations: from monthly town halls to Slack 'shoutouts' and reminded people that HR wasn’t there to manage emotions but to hold space for them.
We launched our Quarterly Recognition Awards, celebrated birthdays and life milestones across markets, and brought back energy through playful initiatives like Colourful Mondays and Wellness Wednesdays. The turning point came when an employee said during a feedback session, “It finally feels like we’re one team again.” That moment meant more than any metric.
Q What impact has this initiative had on your organisation so far, and what do you hope it inspires in the wider HR community?
The impact has been both measurable and deeply human. Retention across the Group rose by 40%, engagement scores jumped significantly in markets like Singapore and the Philippines, and our HR team itself achieved 100% retention. But what I’m proudest of is the cultural transformation. Today, our people identify as 'Heroes' - individuals empowered to grow, collaborate, and shape the company’s future. HR has evolved from a function into a strategic force, aligning business goals with human purpose.
What I hope this inspires in the wider HR community is a simple truth - you can scale without losing your soul. HR can be both data-driven and heart-led. When you build from trust and clarity, business performance naturally follows.
Q Looking back, is there a moment, person, or value that kept you and your team motivated throughout the journey?
If there’s one value that carried us through, it’s resilience with heart. There were no dramatic turning points - just hundreds of small, meaningful moments. A teammate staying late to design a recognition post. An HRBP comforting a colleague after tough news. A hiring manager expressing gratitude after a challenging quarter.
Those quiet acts of care reminded us that leadership isn’t about always being right — it’s about being present.
"Personally, what inspired me most was my team’s courage to keep showing up with empathy, even when things were uncertain. Their spirit made this transformation possible and reminded all of us why we chose this profession in the first place."
Q If you could offer one golden nugget of wisdom to HR professionals aiming for excellence, what would it be?
Don’t chase best practices. Create next practices. Excellence in HR doesn’t come from copying what others have done - it comes from listening deeply to your people and designing what they truly need. Use data to inform, not to define. Let empathy drive your strategy, but back it with evidence.
And above all, remember — HR isn’t about being the loudest voice in the room; it’s about being the one that listens, connects, and leaves people better than you found them. That’s how you build not just a strong company, but a meaningful legacy.
Read more interviews on why organisations have won trophies for their HR practices - head over to our Winning Secrets section!
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