Amid the current instability in the global financial markets, particularly since the collapse of Silicon Valley Bank, FinTech recruitment is proving to be a growing challenge for many businesses in 2023. But that’s no reason to slow down your plans for growth just yet.
This uncertainty in the industry shouldn’t be seen as a reason to pause your recruitment efforts, it just puts far more emphasis and importance on getting it right.
Thankfully, there’s a wealth of experienced FinTech recruitment agencies out there who can help you overcome this challenge. The key to successful talent acquisition in the FinTech market today is to find a recruitment agency you work well with, then leverage their expertise strategically.
In this article, we’ll outline some useful steps you can take to gain as much value as possible from your relationship with your FinTech recruitment agency.
As we discussed in a recent article, when choosing a FinTech recruitment agency to work with it’s wise to first do some research to ensure they’ll be able to meet your requirements. Create a shortlist of agencies you’re considering, then assess their credibility and expertise by looking at their websites, Trustpilot, client testimonials, and anything else you can find.
That previous article also explains in detail how you should approach that process, helping you find the best recruitment agency for your specific business. Once you’ve gone through that process, and found a partner you can trust and rely on, there are some more steps you can take to gain the maximum value from your relationship.
When you’re working with a recruitment agency, clear communication is crucial. You should always start by talking through your expectations and requirements with them up front. Once you begin working together, you can then establish a channel of regular communication that works for both of you, whether that’s a weekly call on Zoom or a daily check-in on Slack or WhatsApp.
It’s important to remember that communication works both ways, too. You’re investing valuable time and money into recruitment, so don’t let that go to waste by failing to make yourself available to your recruitment partner.
Try to be as responsive as possible whenever you receive updates on candidates, interviews, and anything else happening within your recruitment strategy. In a competitive job market, timely responses could make the difference between securing the perfect candidate or losing them to a competitor who is more devoted to their hiring process.
Furthermore, if anything you receive from your recruitment agency doesn’t align with your expectations, communicate it through detailed feedback that will show them how they need to refine their search.
One major benefit of working with a specialist FinTech recruitment agency is that they’re dedicated to your industry. They’ll provide you with deep domain expertise from years of experience, as well as up-to-date knowledge about the FinTech sector and the top talent in the job market.
You can leverage this knowledge to help shape your talent search and hiring strategy. In addition to their search and recruitment services, your recruitment agency will be able to advise you on how to:
All these insights can be used to improve your position as an employer and attract the best possible talent into your FinTech business.
There’s an abundance of talent available in the FinTech job market right now, but the competition to attract and recruit them is getting more intense each day. An important part of your recruitment agency’s job is to help you stand out from the crowd, and one of the best ways to do that is by developing your employer brand. This is the aspect of your overall brand that highlights why candidates will enjoy coming to work for you.
When evaluating job opportunities, people today are placing more importance than ever on strong company values, a clear culture, and a mission they can get behind. With that in mind, it’s vital that you have a distinctive employer brand that builds a connection with your prospective employees.
Lean on your recruitment partner’s expertise in developing your own employer brand, then make sure it’s well represented on your website and social media channels. This will include showcasing positive aspects of your business like your employees and their experiences, your company culture, and your working environment.
Your recruitment partner can also teach you techniques to convey your employer brand in interviews, helping you to humanise your business in the perspective of your candidates.
Finding talent is one thing, but it’s equally important to have a candidate assessment process that gives you the best possible chance of hiring the right people.
Work with your recruitment partner to craft a robust process that’s specific to your specific FinTech business, and tailored to finding the type of candidates you want to hire. Identify the skills and experience you’re looking for, then structure your interview process in a way that focuses on unearthing these qualities from your talent pool.
When you begin working with a FinTech recruitment agency, their existing processes, systems, contacts, and industry experience will give you access to talented candidates much quicker than you’d have working alone.
This can be accelerated further by setting specific timeframes for your recruitment strategy. When you do this, you should also agree on the length of your interview process and avoid the temptation to add extra stages once you begin meeting candidates.
As mentioned earlier, you should aim to keep time free in your weekly calendar – and ensure the relevant stakeholders do the same – so you can move quickly when opportunities to meet candidates come up.
Ultimately, if you want to hire the best talent, you have to treat your relationship with your FinTech recruitment agency as a priority. Sitting on CVs for too long, or being indecisive about certain candidates, could result in you missing out on great talent in high-demand.
In today’s challenging and competitive FinTech job market, having an experienced recruitment partner to help you find the best talent is a major advantage. Having the support of a recruitment agency you can rely on will help you continue to achieve your objectives for talent acquisition and business growth.
But you should remember that it’s a partnership, and that requires collaboration from both sides. You need to be engaged and committed to the relationship if you want your recruitment strategy to succeed. Yes, your agency is there to do the bulk of the leg-work for you, but you still have an important role to play in the process.
Following the advice discussed here will help you gain more value from your relationship with your FinTech recruitment agency, enabling you to find candidates who are the right fit for your specific business.
If you’re currently looking to hire marketing talent, we can help you. You can rely on our 10 years of experience serving as a trusted recruitment partner for the FinTech industry. We’re also able to provide advisory services to determine the exact type of marketing function you need to meet your unique requirements and business goals.
If you’d like to gain more insight into our approach and expertise, read our recent Ultimate Guide to FinTech Recruitment.
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