Securing premium talent in today’s market is easier said than done. Like many tech based industries, fintech is candidate driven, meaning that in many ways the talent calls the shots.
It can be frustrating for employers to play a somewhat subservient role to the whims and wants of the market, but it is absolutely essential in not just attracting, but actually acquiring a prospective employee.
So what is the best talent attraction and acquisition strategy?
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Maximise your job ads. With powerful search tools such as LinkedIn and Indeed available to any professional free of charge, and new opportunities appearing on a daily schedule, candidates can afford to take their time. Offers can easily get lost in the mix, and with the ability to compare dozens of offers in a few minutes, companies need to make sure they really sell their new position.
Candidates will gravitate towards transparent opportunities that stand out from the crowd. Ensure you know your market and benchmark accordingly, our salary survey is a great place to start. Salary is only one piece of the puzzle though, with flexibility options now standard on competitive packages. Hybrid dominates currently, with remote offers rising fast, particularly in tech roles.
With package in order it’s time to sell, sell, sell! Find your company’s unique selling point. What makes your company, opportunity and vision stand out from the pack? What defines your company culture, what drives your employees? Where do you see yourself in five years time, and what part will your employee play in all that?
Keeping talent in the hiring process is often harder for many companies than attracting them with a tempting offer. It all comes down to time, patience and competition. The reality is that in today’s market a candidate wont sit through an extensive hiring process, because they don’t have to.
A series of interviews, questions and even assessments lasting several months just isn’t competitive. During that time period another company will come along, make an offer and snap up your prospective hire.
The same can be said simply for organisation when it comes to recruitment turnaround. If you don’t respond promptly to candidates you are likely to lose them to someone else. The market is voracious in 2022, think survival of fittest, or perhaps the fastest.
Consult with a specialist
The sheer amount of jobs on offer compared to fintech’s limited talent pool will test any company’s patience. The same platforms that allow thousands of people to view your job allow thousands to apply (quite literally in some cases).
If you find yourself panning for talent, it might be time to partner with a recruitment consultancy. A true industry specialist will have access to a deep and rich pool of talent, sweeping through the noise of irrelevant applications to secure you a premium candidate.
Working with an experienced consultant is a great way to build a stronger job ad too. A consultant will be able to draw upon their experience, in concert with current market expectations, to draft you a competitive offer.
However, it is important to remember that whilst a consultant can certainly find your dream candidate, they have no more power to hold talent than you do. Speed catalyses partnership and headhunting success, so ensure you establish efficient lines of communication to avoid missing your next talent opportunity.
Securing a strategy
Securing the ultimate strategy in today’s market relies on several elements. Attracting talent requires transparency, vision and an ability to sell your opportunity in a unique way.
Acquisition relies on speed, if you waste time on bloated hiring processes, candidates will disappear. Remove as many hurdles as possible to avoid competitors poaching prospective employees.
If you are struggling, or don’t have the time or resources to spare, consult with a professional, a true specialist will have direct access to the talent that will take your business to the next level.
Looking to benchmark your next opportunity or discuss hiring strategy? Contact Headcount for deep market insight and innovative recruitment solutions.