Fintech companies face an intensely competitive landscape when it comes to hiring top tech talent. As the demand for skills in blockchain, AI, and cybersecurity continues to rise, standing out in the job market has become essential. In this blog, we’ll explore how companies can build an appealing recruitment strategy by aligning with current fintech trends, meeting candidates' expectations, and creating a compelling employer brand.
Key Trends in Fintech Hiring
Embrace Remote and Hybrid Flexibility
Flexibility is now a non-negotiable for many tech professionals. Companies that offer remote or hybrid options are attracting a larger pool of qualified candidates, including global talent that values work-life balance. Be explicit about flexibility in job postings and make it clear how the role supports both in-office and remote working styles.
Prioritise Specialised Skills – Blockchain, Data Science, AI
Fintech innovation relies heavily on niche technical skills. Companies should clearly highlight their need or potential need in the future for skills in areas like blockchain, machine learning, and data engineering. Tailoring job ads to emphasise how these skills will be applied in innovative projects can attract the exact talent you need.
Showcase a Commitment to Diversity, Equity, and Inclusion (DEI)
In today’s job market, candidates are increasingly drawn to companies that prioritise an inclusive and equitable workplace. Demonstrating a true commitment to DEI means not only having inclusive hiring practices but embedding diversity and equity into the very fabric of your organisation. This can be achieved by fostering an open, welcoming culture that actively celebrates diverse perspectives and backgrounds.
Balance Start-Up Agility with Financial Stability
Many candidates want the energy of a start-up without the instability that often comes with it. Companies can strike this balance by showcasing funding milestones, growth projections, and solid backing from investors, assuring candidates that there’s both excitement and security in joining.
What Today’s Candidates Are Looking For
Growth Opportunities: Highlight career progression and learning support to attract tech talent focused on personal and professional growth.
Meaningful Impact: Emphasize your company’s commitment to societal impact, like financial inclusion, to appeal to purpose-driven candidates.
Competitive Compensation: Offer transparent compensation packages that include salary, perks, and development opportunities to demonstrate value for candidates.
Innovative Projects: Showcase advanced technologies and innovative projects to attract tech professionals eager to work on cutting-edge solutions.
Building an Effective Recruitment Strategy
Crafting a Unique Employer Brand
Differentiating your company is essential. Your brand should communicate what it means to work at your organisation. Invest in creating a consistent presence across platforms, including LinkedIn, GitHub, and relevant tech forums. Blogs, podcasts, or employee testimonials can all help build a narrative that attracts the right talent.
Connecting with Communities and Networking
Fintech professionals often belong to specialised networks, like SHIFT for example. Companies can attract candidates by creating visibility in these communities – through webinars, participation in industry conferences, or sponsoring relevant events. A strong community presence means that candidates are familiar with your company even before they see a job posting.
Streamline the Hiring Process
Candidates, particularly in tech, tend to have multiple options. To prevent losing talent to lengthy recruitment processes, focus on making your hiring process fast and efficient. Tools like automated interview scheduling and pre-assessment tests can simplify the process, so top candidates don’t get held up. 50% of candidates drop out of processes that are longer than 5 stages, and a whopping 70% of candidates drop out of processes that have 6 or more.
Know When to Use a Recruiter
Knowing when to partner with a recruiter can save time and help secure specialised talent for your team. Here are a few key situations where a recruiter’s expertise can be invaluable:
- Niche Roles: When recruiting for highly specialised positions or a role within a specific location – a recruiter can help identify and attract talent with niche skill sets that are difficult to source independently. Roles like this cannot be filled by job boards, they are filled by relationships and credibility in the space. Candidates trust their recruiter to help them land their next role.
- Time Constraints: If recruitment is taking too long, or if key projects are delayed due to unfilled roles, a recruiter can streamline the process, leveraging their networks to speed up hiring.
- Limited Talent Pool Reach: If your team struggles to connect with candidates from varied backgrounds or lacks access to the desired talent pool, a recruiter can widen your reach. Recruiters will always have direct access to passive candidates who aren’t actively looking but could be interested in the right opportunity.
- Competitive Markets: In high-demand fields like fintech, a recruiter’s market knowledge can provide insights on competitive compensation packages and help position your role effectively, ensuring it stands out from the competition.
- Data-Driven Recruiting: Make decisions based on data, tracking metrics like time-to-hire, candidate satisfaction, and drop-off rates. Adjust your approach based on these insights, refining how you source and engage talent to create a recruitment process that’s as attractive to candidates as it is effective for hiring teams.
In the race to secure top tech talent, fintech companies must go beyond competitive salaries and standard perks. By aligning recruitment strategies with market trends and candidate preferences, and by building a brand that resonates with top-tier professionals, fintech companies can establish themselves as desirable employers in the tech landscape. For more Fintech insights, the latest recruitment trends or advice on how to streamline your recruitment process reach out to our IT Recruitment Specialist Jack Tyrrell, on 0238548637 or email j.tyrrell@mcsgroup.jobs.
