Recruiting fintech talent can be a daunting prospect for hiring companies in the sector.
Given the status of this rapidly evolving market, a successful recruitment drive demands more than a simple job announcement – it involves applying specialist strategies that take time and effort, but ultimately yield results.
In this article, we share our top five tips for recruiting fintech professionals, so that you can pique the attention of top-tier candidates and hire with confidence.
#1. Build a compelling employer brand before recruiting fintech talent
Selling your employer brand and company ethos at the interview stage isn’t an effective approach; to attract desirable candidates in the first place, an organisation must lead with a clearly defined brand that speaks directly to fintech professionals.
Updating and putting a clear shape on your employer brand ahead of any recruitment drive is therefore a vital element of thorough preparation.
What does this involve?
- It can be achieved by showcasing your company’s innovative practices, through highlighting projects that use AI, blockchain or emerging tech.
- It means emphasising the impact of your business as a fintech disruptor and explaining how your firm contributes.
- It involves sharing authentic testimonials from existing employees to promote trust and relatability.
The importance of refining your brand through examining your employer value proposition (EVP) is more vital now than ever before, with millennial and Gen Z candidates gravitating towards meaningful work, strong company values, and a positive work-life balance.
The use of data-driven insights is also becoming key to success in this area.
#2. Save time and see results through proactive searches
Building an employer brand is not the only process streamlined through the use of data. Hiring managers and HR teams are now frequently relying on analytics-based insights to assist with their most pressing recruitment needs.
Here are some examples of how to use data-driven insights when recruiting fintech talent:
- Track and optimise time-to-hire by identifying bottlenecks and streamlining those stages.
- Measure your source of hire effectiveness to identify channels that deliver quality over quantity.
- Use predictive analytics for candidate fit by applying structured scoring or AI-based tools during shortlisting to complement recruiter judgment.
- Analyse interview-to-offer conversion rates to help you refine your interview questions, selection stages and the alignment between HR and hiring managers.
- Monitor early attrition rates through the use of exit interviews and onboarding feedback.
Each of these measures and more serve to streamline decision-making and improve overall hiring quality.
#3. Take a competitive approach to compensation
Top fintech talent often expects competitive compensation and perks tailored to their values. However, this doesn’t always translate to a hefty salary.
Aside from reasonably, and perhaps generously, meeting salary benchmarks, you can increase the competitiveness of your organisation as an attractive employer by:
- Offering flexible work options that incorporate both remote and hybrid setups
- Developing an employee share scheme that presents equity awards to employees
- Offering professional development opportunities and ongoing training as part of your package to align with fast-moving fintech trends.
Going to such competitive lengths is essential for firms operating in a sector where professionals are often at the receiving end of multiple job offers.
#4. Embrace and advocate for diversity and inclusion
Despite its reputation as a progressive and forward-thinking sector, fintech is an area distinctly lacking in diversity and inclusion. Evidence of this can be found in the data on those who staff fintechs, which showcases a majority of white, male, able-bodied individuals across all positions.
The discrepancy between male and female representation within the sector is particularly concerning.
A recent FinTech Magazine article described the industry as one “where gender disparity remains stubbornly embedded”, with female professionals holding fewer positions and experiencing lower pay than their male counterparts.
The benefits of an inclusive approach when recruiting fintech talent
Fintech companies that challenge these practices can position themselves as advocates of diversity and inclusion. Skilled professionals within the industry, particularly females in search of rare opportunities, will be attracted to an organisation that isn’t afraid to change the tide and be at the helm of a positive movement.
What’s more, adopting an open-minded approach in this context broadens the talent pool and creates new opportunities for businesses to secure top talent in the field – those who may have previously flown under the radar of companies with little regard for an inclusive approach.
#5. Partner with a specialist recruiter
Given the nuanced nature of recruitment in the fintech industry, partnering with a specialist recruitment firm can be a game-changer for hiring companies.
A dedicated financial services recruitment consultancy will offer:
- Sector expertise with a deep knowledge across fintech sub-sectors such as payments, lending, regtech, insurtech and pensions.
- Access to passive talent with the help of researchers and headhunters who actively engage in hidden markets.
- End-to-end support, from job description design to salary insights and onboarding strategy.
The stresses that often go hand in hand with recruiting in the face of a talent shortage can be both frustrating and problematic for fintech firms. Working with a specialist recruitment company can immediately alleviate the pressure of hiring and pave the way for a successful outcome.
360 Search: Providing expert solutions for companies recruiting fintech talent
Recruiting fintech talent in Ireland requires a strategic approach that combines everything from compelling branding to data-led sourcing. Leaning on a specialist partner like 360 Search will help you refine these best practices and enable you to cultivate a competitive and sustainable talent pipeline.
We support your fintech hiring journey with deep vertical expertise in finance, compliance, insurtech, pensions and fintech technology. We deliver a tailored range of services designed specifically for the fintech sector, including:
- Expert recruitment: Our team understands the unique challenges of the industry and sources candidates who can deliver impact from day one.
- Strategic collaboration: We work closely with our clients to craft bespoke recruitment solutions that align with your business objectives, team structure and company culture.
- Extensive talent network: Our well-established network across Ireland and internationally gives you access to a diverse and highly skilled talent pool, helping you secure the right fit with greater efficiency.
Contact us today to discover how our tailored strategies can help you land and retain the top talent shaping Ireland’s financial future.
