Payments and Fintech Hiring Tips For 2024
As you begin to face the challenges and opportunities for this new year, I just wanted to share some hiring tips and observations on the current Payments and Fintech talent market based on my 27 years as a fintech executive and as a payments and fintech recruiter…. I believe talent acquisition strategies for 2024 will be driven by this one trend:
Finding great fintech talent will become easier …. recruiting great fintech talent will become more difficult.
Here are 10 hiring tips employers can do to successfully recruit top payments talent in 2024:
Treat each potential candidate like a customer. If you don’t, they will “shop” somewhere else.
Make sure everyone in the interviewing process is on the same page. They must know company’s career value proposition and how to sell it to the candidate.
Increase hiring speed. You can’t afford a long, drawn-out process that disappoints the candidate and allows the competition to gain a foothold. Establish a hiring team, with an execution accountability plan and track time to hire.
Make job descriptions accurate, fun and exciting. Dull and poorly written job profiles reflect negatively on your brand and will turn-off most candidates. Make job descriptions sell!
De-emphasize resumes and accept online profiles. Many passive payments candidates don’t have updated resumes. Using online profiles in the beginning will at least allow you to engage with the candidate, start the process and save time.
Learn how to interview for and evaluate “soft skills”. Interpersonal communication, teamwork, problem-solving, adaptability and leadership are all examples of soft skills that will help the hiring manager predict cultural fit and future performance.
Company culture, values, and career growth are becoming very important to candidates. Don’t forget to incorporate these into the interview process and employer branding messages.
Be prepared to offer comp packages that exceed expectations. Be creative, take into consideration payments and fintech industry trends like time to market, product maturity and current industry compensation levels.
Never stop recruiting. Keep the candidate pipeline full and great talent engaged even when you are not hiring.
Team-up with a 3rd party recruiting firm. Find a specialized payments recruiting firm with “veteran headhunters” who understand your business and industry, have credibility with potential candidates and know how to sell your opportunity!
Good luck in the new year.
Please don’t hesitate to call if we can ever be of assistance with your talent needs.
Since 1999 Group W Partners has been a leading specialized executive search firm for the payments and fintech industries.
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