New jobs are rushing in full swing. Employers are rivaling one another to ensure they attract top talent to their organization. With a huge number of similar organizations all trying to attract the same talent, one the biggest differentiator comes down to brand positioning, even more so in this era of remote/hybrid working.
Which organization represents itself as a strong career choice and provides security to the candidate? This article addresses the biggest concerns for talents in Fintech and highlights the ways employers can elevate their brand position in times of change.
There has been tremendous growth in the use of digital financial services and e-commerce, subsequently increasing the demand for talent in FinTech and payments.
Demand for tech professionals in FinTech and the digital payments sector bounced back strongly after a short pause during the initial Covid-19 lockdowns. And with the high demand, Talent Acquisition needs to act effectively to attract the right talent in a relatively competitive market.
Due to the high demand for talent, employers are competing with each other to secure top talent in order to support them in their growth. In fact, a 2020 recruitment and sourcing report revealed that Tech positions remain the most difficult positions to recruit for and retain. This all makes high brand positioning crucial to any tech company.
It is important that you put yourself in the shoes of your ideal candidate. Employers need to understand that FinTech is a very competitive landscape as companies are hiring for numerous positions, and the market is highly candidate-driven. This calls for smooth recruitment processes and speed of hire to ensure securing the talent on time.
Let the candidates know why you are looking for them. Are they a replacement for a former employee or is it a brand new position?
Growth plans and the company’s vision are some of the most important factors talents consider in a new position.
With the FinTech jobs rushing in full swing, companies are often after the same talent, making high brand positioning essential for every company in the industry. In order to create a desirable workplace image, employers need to strategically craft their recruitment methods.
With the rapid shift from face-to-face to video hiring processes, refining the hiring process becomes integral to securing successful hires. Hiring managers need to enhance their online tools to facilitate their video interviews. Another important aspect is to rethink who is involved in the hiring process in order to optimize an effective recruitment roadmap. In our article: The benefits of remote recruitment we cover adopting agile recruitment in depth.
Values remain the most important aspect of a brand in attracting candidates. A study conducted in 2020 revealed that organizational values are the most important element of the employer brand for attracting candidates. Thus, ensuring that your values are clearly communicated and shown to be at the center of your employee and customer experience will lift your brand positioning and ultimately make you the employer of choice.
One of the pitfalls observed when companies work with sourcing agencies is that they work with a variety of agencies for different roles, departments, and locations. When talents in the market observe that there are several agencies representing the company, there is a “desperate” image associated with the brand, often dropping the employer branding tremendously. The payments and FinTech industries are one of the fastest-growing industries and that requires your recruitment agency to be specialized and experienced in the industry because that too translates into a good brand representation.
The pandemic has accelerated the growth of FinTech companies and ultimately the demand for top-tier fintech talent. Companies are often competing with one another to hire the same talent. Employer positioning is more important than ever and companies need to refine their hiring practices in order to attract the right talent and to stand out from the competition.
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The way we hire has changed indefinitely, and traditional recruiting methods now hold less value. Recruitment teams are currently struggling to establish new recruiting methods that help to find the best candidate in a digital environment. And admittedly, this change is here to stay forever. As more candidates and employers are realizing hires can be productive without the need to be present in the office, it is expected that remote hiring will remain essential even post-pandemic.
Companies’ recruitment processes have moved online due to the unexpected COVID-19 outbreak. As organizations around the world acted immediately according to the health advice given by governments and health associations, in-person interviews and onboarding processes are taking a new form – a complete shift to virtual platforms.