It comes as no surprise that qualified professionals in the fintech field are in greater demand than ever. With countless fintech companies all over the world, it’s not hard to see why.
What is Fintech?
Fintech stands for “financial technology” – and that is what it is, any technology that enables users to make payments or use money in new and exciting ways. Despite the term being new, innovation in the money and payments space has a long history, with credit cards being one of the first examples.
Knowing which Fintech recruiting solutions are most in-demand is important when developing your recruiting strategy. As you might expect, software engineering jobs make up most of the vacancies in the industry, closely followed by operations.
In a very competitive labour market, where fintech recruiters are scrambling for talent, how do they find people?
How Do Fintech Recruiters Obtain Talent?
Fintech recruitment strategy shares many characteristics with recruiting in any sector. One of the first things that you will want to do is make sure that your employer brand is strong.
Fintech applicants desire innovative workplaces where they can make a direct impact, which is something your branded employer portal should convey.
Avoid vague descriptions in your job description. These are unclear and do not define a person’s responsibilities. Once you have created a detailed and well-written job description, it’s time to post it and begin sourcing candidates.
During the actual interview, you will also want to assess the candidate’s business savvy and commerciality. The main purpose of Fintech is to exchange and make money – and candidates need to understand this.
You should then post your job openings on all major channels, while not ignoring sometimes overlooked channels like Facebook and Whatsapp. It might also be helpful to emphasize channels like StackOverflow, AngelList, and similar platforms attract mainly tech and startup talent (vs. platforms like Indeed that attract job seekers from all sectors).
The best talent available today is typically passive, and this is doubly true for Fintech where the demand for specialists is even higher. It is particularly true for organizations in the process of staffing not just teams but also executives.
You should have a strategy for communicating with and hiring passive talent, as well as a few good email sequences prepared. Recruiting for Fintech companies can be challenging, especially if it’s just one part of your business. A Fintech Recruitment Agency may be able to help you in this situation.
There is a lot of information available online about Fintech recruitment, most of it focused on marketing and operations roles.