It’s a jungle out there, and boy, don’t we know it.
Due to a record number of job vacancies in the FinTech sector, coupled with the need for cyber security and financial insurance, it’s now officially a candidate’s market.
So, with that said, let’s take a look at how you can, with just a few changes, make your company desirable to the finest FinTech talent.
#1 Is Your Employee Value Proposition (EVP) Attractive Enough?
OK, forget the fussball table and beer fridge, your EVP is about so much more than that for the simple reason that it has to!
As the skill level bar is set really high for the best FinTech talent, so too are the salaries, however, there’s a bigger incentive than money that will attract the rare breeds: flexibility
Since everyone was tucked into their homes during the pandemic, the increased demand for flexibility means working from home, part time working and flexible hours have become not just a desirable to the job-seeking candidate, but a necessity.
In addition to that, candidates are now looking for their employer to provide them with the greatest care outside working hours, such as private healthcare, dental, gym memberships and even counselling.
You don’t have to stretch yourself to the point of bankruptcy to offer all of these things, but if you can recognise the one or two that would really support your employees (and your EVP), then you’ll be surprised at just how many more exceptional people you attract to your business.
Your company values, ethics, beliefs and culture are all things that candidates take into consideration before accepting a role, so it’s the best time to ensure that you put some focus on yours.
#2 Cast Your Net Far And Wide
You might be based in Manchester, but that doesn’t mean to say you have to recruit within Manchester. The beauty of FinTech is that remote working is not only possible, but mandatory, as the best talent resides all over the world.
“By widening your search, you get a bigger talent pool and more diverse candidates. A May 2020 MCKINSEY REPORT said that companies in the top quartile for gender diversity on executive teams were 25 percent more likely to have above-average profitability than companies in the fourth quartile.”
#3 The One Thing All Good FinTech Candidates Have In Common…
…They have a desire to progress.
Exceptional talent is only nurtured by the freedom and encouragement to develop, which means that if you’re looking to hire a brilliant tech person for a tech-based role, you’d be smart to have a progression plan in place before they start, as this will undoubtedly be an attractive bonus for the right person.
What’s more, if you know you’re hiring someone with the desire and ability to move up in the company, that can only ever benefit the business as a whole, as new ideas and a commitment to improvement are all essentials for that bottom line!
#4 A Potential Problem…
…A lot of the best talent are already in roles they’re happy in, so how do you encourage them to come to you?
Well, improve your EVP and job progression plan for a start!
And then, you want to focus on your brand image and how you’re being perceived to others outside the company.
In our recent blog: You’re The One That They Want! How To Make Your Fintech Company Downright Desirable To Candidates, we list the top 3 things you can do with your online image that will make your company desirable to the best talent, and a lot of them are easier than you think.
#5 Your Recruitment Process – Is It World Class?
Finally, it’s good to think about your own internal recruitment process once you’ve got the candidate to the interview stage.
If the sole aim is to be desirable to candidate, then it’s a worthwhile exercise having one of your team go through a dummy run of the interview process so they can feed back on anything that didn’t make them feel good, or that could be improved upon.
After all, it’s all about creating a positive experience.
Final Thoughts
Now, you might be thinking… “hmm, that’s a lot of work to do”
Or even that it’s not your job to make your company look desirable to future recruits, but, let us tell you that if you’re looking to attract the best, you want to be attractive to the best, and these simple steps will help you achieve that.
Of course, hiring a recruitment partner will alleviate a lot of the hard work for you, but having these things in place is a fail-safe process for a company who is continually growing and therefore needing to attract quality people.
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