Fintech companies are engaged in a talent war. In the rapidly growing field of innovative startups based on new and emerging technologies, established tech providers compete for candidates. Recruiting for startups is very different from recruiting for large companies.
Identifying the essential qualifications, skill set, relevant experience, and knowledge base for the job is the easy part. Many startups just start their candidate search by asking, “who have we worked for and who do we know?” After reaching out personally, they hire candidates based on the strength of skills seen in prior relationships, as well as, recommendations. Their next problem is high turnover, which causes them to wonder why candidates leave.
Fintech Companies must establish a genuine recruitment process to maximise efficiency and minimise turnover. Entrepreneurs often rely on networking and reviewing resumes during spare time. Due to the high opportunity cost, this is not a good use of time. Rather than doing the groundwork, the executive team should be the decision-makers. Recruiting can be managed better by following these tips:
Use A Fintech Recruiter
Whether you hire someone internally for a part-time/as-needed role or a contract position, you need help. A Fintech recruiter is tasked with actively finding and screening candidates, not just scanning resumes. To find the right candidates, you must contact, email, research, interview, and schedule the initial candidates. The people who do it every day can tell you it is a very time-consuming job. If you receive a recommendation or connection, perhaps you should make the first call or introduction and then pass the information on to your recruiter.
Identify the Value Proposition
What do you want potential hires to know about your company? Developing your employee brand is important, even in the early stages. Consistency should be ensured in all candidate messaging.
Recruiting Process Refined
Maintain a courteous, professional, and timely screening, interviewing, and rejection/offer process. Your company should provide a positive experience to each candidate, regardless of whether they receive an offer.
Need help with sourcing top talent for your Fintech company? Black Pen Recruitment can assist. For more information, get in touch today!