The return to the office is a hot debate in any industry. In fintech even more so since so many of its workers were able to prove that they could be just as productive, if not more, when working from home in the pandemic. Fintech Magazine shares survey results in Alex Clere’s article, ‘Remote Workers Waste Two Hours Less Per Week’ stating that, concerning productivity “the findings cast serious doubt on traditional perceptions of remote workers”. Although there may have been a reduction in wasted time, it has been noted that this has come at the cost of diminished human interaction, reduced collaborative creativity, weakened connections, and an impact on the bottom line. Businesses have been looking at ways to bring in return-to-office policies and often have missed empathy and the workers’ perspective. Scoop’s ‘Q2 Flex Report’ provides data supporting the trend of finance and technology companies choosing ‘structured hybrid’ models. In some cases, across Q1 to Q2 this year, the number of businesses choosing a return to office in some way has increased by 12%.

Although there are some positive outcomes, the media continues to report on various fintech businesses, regardless of their size, stability, traditional or decentralized nature, attempting to bring employees back to the office with mandates and demands that lack a focus on the people themselves.

Is return to the office the catch-all solution?

2023 has been rife with challenges, including rising global interest rates, recurring recessions, and cost of living crises. Many leaders believe that a return-to-office plan is the solution to all problems to drive better performance. A Business Insider article published in July 2023, listed ‘major companies requiring employees to return to the office’. Within it, a memo shared by Blackrock leadership noted, “career development happens in teaching moments between team members… this requires us to be together in the office.” Little was shared about how careers can progress in a new virtual world. More aggressively, Bloomberg published an article called ‘IBM Chief’s Message to Remote Workers: Your Career Does Suffer’. The IBM CEO Arvind Krishna was pretty clear on the topic when he said, “remote work can be hazardous for your career”. Business Insider has also written on JP Morgan, highlighting that CEO Jamie Dimon publicly said “remote work slows down honesty and decision making,” He was quoted saying there was a culture of “we’ll pick this up tomorrow” because people are at home, without any consideration for those working at pace or those who need time to process decision making regardless of their location.

Virtual productivity

Career development, promotion and pace are super important factors in productive and impactful workplaces. Some businesses are looking to improve on these points by investing in their people despite a person’s workplace location. Paul Dyson, Co-Founder and CTO of the fintech Singletrack believes that face-to-face interaction can be used for specific things such as “kicking off new strands of work, reviewing what’s been delivered, performance reviews and, of course, social events.” Singletrack worked their policy around individual needs leaving huge space for flexibility. Each team finds its own balance of in-office and at-home working with some teams choosing to be face to face more regularly and some meeting one per month. Everyone has the opportunity to use the office whenever they need to, without expectation or pressure. He insists that “productivity has remained high and employee satisfaction has increased; we’ve always been more focused on what people deliver, not how or where they spend their time.”

Ali Hamriti, the Founder and CEO of the fintech Rollee, switched from a full-remote to hybrid working arrangements. His company continues hiring in several geographies while they plan several interactions between team members to fill the post-pandemic needs. It works because he promotes transparency of communication and clarity of expectation with measurable objectives for all of Rollee’s team leaders. He said, “focus on ensuring that wellness is at the core of your company” and added that “upskilling is also essential; it’s about investing in their evolution and agreeing on a clear path with specific milestones.”

Despite the big news headlines, staff investment has continued within some of the businesses in the fintech and financial sectors. Andrew Bailey, the Governor of the Bank of England was quoted, saying “As employers, we are all having to face the fact that we are having to recruit people in a job market where [remote working] is increasingly part of the work-life balance.” Citi Bank has invested in their measurement of staff productivity and during a Bloomberg News Panel, the CEO Jane Fraser shared that if anyone is “not being productive, we bring them back into the office, and give them the coaching they need until they bring the productivity back up again.”

Work life balance

Getting this wrong could force performance to lower ebbs. Owl Labs and Global Workplace Analytics surveyed 2300 workers and the results were that “39%, say they would quit if their ability to work from home was taken away,” and “nearly half say they’d stop working as hard if the benefit was eliminated.” In a Wall Street Journal publication called ‘Why Workers Aren’t Coming Back to the Office Full Time’, the reasons for this included “workers loath to forgo flexibility”. This included the physical cost and expense of returning to the office, the loss of family life and the reduction of personal time. In addition, the article noted the decrease in “emotional labor” of not having to deal with microaggressions prevalent in the office when face to face. When considering culture, retention and productivity, these factors need addressing in-depth, in their own right.

Joanna Kori, Head of People for RegTech provider Encompass Corporation, speaking in a recent podcast, ‘The DEI Discussions’, emphasized the power of building a great culture that supports each person’s unique experience. She said leadership was about “advocating for people” and shared that especially when it comes to executive-led support of flexible working, “enabling that has made a huge difference to our employees, the majority of whom currently place it higher in importance to them than salary.” Listening to staff is at the core of truly “accommodating diverse opinions and philosophies in an environment that creates safe spaces for everyone,” Joanna added.

This melting pot of productivity, performance, well-being, promotion, communication, collaboration, safety and inclusion shows that there are lots to consider when rolling out any policy and those considerations will vary per person. Any conversation around Diversity, Equity or Inclusion in the workplace will certainly include the importance of flexible working and this element cannot be underestimated in the debate. In an industry that proclaims to need great talent and wants diversity of thought to be the best it can be this topic is central to the reality of that desire.

In the rapidly evolving landscape of fintech, accurately evaluating a candidate’s potential during the interview process is crucial for building high-performing teams. Gartner’s ‘The 9 Future of Work Trends in 2023’ shared that as many as “56% of candidates report applying for jobs outside their current area of expertise”, with indicators that this will climb further. For applicants, finding a new job isn’t only about whether they can do the job but how they can learn on the job and where they will be able to grow their careers. According to the Boston Consulting Group’s report, ‘Global Fintech 2023 Reimagining the Future of Finance’, “annual fintech revenues are expected to reach $1.5 trillion by 2030.” The report also highlights “almost 80% of adults in the world are still either underbanked or unbanked”, indicating a significant opportunity for financial inclusion and growth of “disruptor models.”

Based on the current demand and the way people are applying for and keeping their roles, fintechs can greatly benefit by improving their hiring process and investing in their staff for a longer period of time. The move away from previous experience or skills matching will become evermore important.

Change the way you think about hiring

According to Gartner’s report on ‘The 9 Future of Work Trends in 2023’, the top trend is ‘quiet hiring’. This term plays off the recent phenomenon of ‘quiet quitting’, where many employees disengage and become less productive. The ‘quiet hiring’ trend describes a “focus on internal talent mobility” as well as “stretch and upskilling opportunities” to meet “organizational needs.” For this to be possible, the hiring focus must avoid asking comfort questions that only prove past experiences. The report said, “It’s more urgent than ever to rethink outdated assumptions about qualifications” and move towards assessments of potential and adaptability on top of your more traditional methods of skill assessments.

Continuous learning and growth

To bring in talent that hasn’t directly performed the exact job before, it is important to assess their potential to learn and adapt quickly. Leda Glyptis, Chief Client Officer of 10X Banking, a fintech banking platform, believes in asking, “Tell me about something new you have learned?” She says, “It’s an extremely telling question. It is a question, that really gives you a glimpse of the person and how they engage with the process of learning and the vulnerability of that process when they don’t have to.”

When considering growth Sophie Theen, COO of the Payment Orchestration Platform, Paydock suggested, “What skills do you possess that can be applied beyond the role you are applying for?” Sophie’s focus is on long-term fit. She works with her hiring managers to build “performance profiles” and not job descriptions. She says a “performance profile captures goals, success criteria, and next level up” to allow for “as much future planning as possible for managers and their teams.”

Values and Passion

Value fit and passion alongside tangible skill sets and work ethic all give hiring managers confidence in their new hire. Adam Bryant writing for the New York Times, highlighted the importance of ‘sharing a meal’ and how it “reveals all sorts of clues about someone.” In his article ‘How to Hire the Right Person’, he poses some questions to help in observation, “are they polite to the servers? Do they barrel through the restaurant or let others go first?” Seeing behaviors in play can help drive value fit assessment.

The team at Vizypay, who specialize in simplifying credit card payments, are experts at hiring people to grow into roles and building great career paths. In a recent conversation with Shannon Mccann, Director of Marketing, she said, “you can learn a lot about someone by understanding what is important to them, what they’re passionate about like their family, hobbies, pets, etc. At VizyPay, we don’t hire people based on their resumes, so it wouldn’t be productive to spend time discussing their fintech background.”

Similarly, in talks with the compliance fintech, SteelEye, both their Global Head of Marketing, Emmy Granstrom, and Global Head of People and Culture, Alicia Ariffin, agreed on assessing candidates based on passion, values, and cultural fit. Alicia said, “I like to ask about people’s greatest achievement.” Emmy seeks out enthusiasm and asks, “Tell me about something you have worked on that you are proud of and why.” Candidates who take initiative, communicate clearly and show commitment in their answers often have greater potential for growth and advancement.

Problem Solving and Planning

Monica Eaton, CEO and Founder of Chargebacks911, a fintech dedicated to chargeback remediation, believes that the route of assessing potential can be found in how people handle setbacks. She asks in interview, “What is a challenge you have overcome in the last 12 months that you are proud of?” She gains valuable insights into how people have dealt with situations and what they learn from them to apply in the future.

In agreement, Davinder Walia, Global Director of Genesis Global asks in interview, “Can you describe a situation where you had to take initiative to solve a problem or make a decision? How did you approach it, and what was the outcome?” Genesis is an application development platform for financial markets and problem solving is key to their success. For Davinder, how something is done is the important thing. The levels of ownership help her assess the behaviors that person might have in the role and any signs of leadership potential.

Planning and goal-setting allow for greater levels of assessment too. Devina Paul the CFO of the crypto wallet platform, Zumo, says, “I will always ask about how they will immerse themselves in the business and what their first 100 days will look like.” She went on to discuss the importance of having, in her case, a CFO with a “good balance of technical understanding and strategic vision.”

Effectively assessing a candidate’s potential in a fintech interview requires a holistic approach that goes beyond evaluating technical skills and experience. By considering value fit, work ethic, transferable skills, and the ability to adapt and grow, recruiters and hiring managers can reduce the chances of making a bad hire and build teams of talented professionals who are primed for success in the ever-evolving fintech landscape.

In today’s diverse workforce, recognizing and accommodating employees’ unique needs and preferences is crucial for any business. Pursuing people growth is a complex venture to get right, and without the right people, motivated and engaged, it is difficult to reach any business goal. When people accept or reject job offers, they consider salary, culture, opportunity and many other factors. One of these factors is the benefits package on offer.

Every person within any business has different life circumstances, and this is reflected in their benefits requirements. We know that certain benefits will matter to most staff, and most benefits packages are based on a system of majority demand or legal mandates. This majority approach leaves gaps in fair support and leads to further disadvantages for the minority. Many benefits are required by law, such as certain health care prohibitions or specific 401ks and retirement plans depending on company size. Others largely revolve around time off, flexible working, retirement, health, well-being or work-life balance.

A recent Mercer report called, ‘2023 Health on Demand’ shared that “over three-quarters (78%) of employees who believe their employers care about their health and well-being also say they are thriving.” Their research even went as far as to say that “one in three employees would forgo a pay raise for additional well-being benefits for themselves or their families.” In a Korn Ferry
KFY
article called ‘Burnout Blues’, following a survey, results were reported, “89% of professionals say they are suffering from burnout”, with “only 11% saying they are content or energized” in the workplace, making this a hugely important topic for the future of work.

Stability and Security

In 2022, businesses rewarded employees who left with pay raises, while those who stayed did not receive any substantial pay raises and were instead subjected to what is called ‘loyalty taxes’. In a recent Bloomberg publication called “Top Employee Benefits Workers Want Most in 2023,” the findings are the reverse. They found that the focus is now on “job security”, which is being measured by “gauging the strength of an employer’s leadership, business prospects and financial resiliency.” This can be measured by a number of things, one of which is the benefits package themselves. The brokerage, Newfront shared information in the article, ‘The Top 10 Employee Benefits Trends for 2023’ and within it cited ‘cost savings’ and stability in the guise of “support tools to give employees confidence picking compatible plans for their health savings account (HSA), concierge tools for streamlining and reducing healthcare spend, and disease management plans, such as point solutions for cancer treatment.” Employees should have the freedom to choose the benefits that align with their needs and priorities. By offering a wide range of choices, fintechs can empower employees to select the benefits that matter most to them, leading to increased satisfaction and engagement. This personalized approach fosters a sense of ownership and demonstrates that the organization cares about each employee’s well-being.

Needs analysis

By understanding that different individuals require varying levels of support, fintechs can offer a range of benefits to accommodate diverse circumstances. For example, providing vision care benefits acknowledges that some employees will require glasses at some point. Similarly, offering enhanced 401ks with matching or pension plans demonstrates an organization’s commitment to providing a secure financial future for all employees. Interestingly, in the UK, 74% of the population needs some eye corrective support, according to Statista.com, compared to 66% across America. Around 17% of people are affected by hearing loss in the UK, making it “the second most common disability in the UK” as the ‘British Academy of Audiology’ reported. ‘The National Institute on Deafness and Other Communication Disorders’ reports that this statistic is closer to 15% in America.

After conducting research with Harrington Starr recruitment agency and gathering data from 50 financial technology institutions, fintech scale-ups, and disruptors worldwide, it was found that all of them had some form of eye health commitment in their benefits package. This was in contrast to only two of them having direct support for audiological health. A third offered childcare benefits, and nearly every one offered a dental plan. The percentage of people needing eye support and those finding childcare benefits useful in their lifetime is not fairly reflected in these current policies. The potential gaps are endless when you consider the needs of every single employee rather than the majority of your staff.

The Whole Person

By offering a range of benefits, individual needs can be addressed, leading to enhanced employee satisfaction, engagement, and overall well-being. A Gartner
IT
report called ‘9 Future of Work Trends 2023,’ displays that, “eighty-two percent of employees now say it’s important that their organizations see them as a whole person, rather than simply an employee.” In response, there has been a number of studies showcasing surges in mental health policies. Mental health support company, Spill collated data in the article ‘53 Workplace Mental Health Statistics You Can’t Ignore in 2023’, highlighting that, “since the pandemic, 81% of workplaces have increased their focus on employee mental health.”

While providing comprehensive benefits may involve an investment, the long-term advantages often outweigh the costs. Fintechs should consider the potential savings associated with benefits. For instance, preventative healthcare benefits can reduce healthcare costs by identifying and addressing issues early on, ultimately saving money in the long run. Moreover, the cost of not providing benefits should be considered, as it can lead to decreased employee morale, productivity, and retention, resulting in higher turnover costs.

Choices

Exploring a variety of benefit choices is often understanding these benefits and their impact on recruitment, cost savings, employee retention, and the holistic support of your workforce. Mckinsey offers interesting insights into this debate offering a solution in the form of “building an integrated benefits experience.” In their recent publication, ‘US workplace benefits: Connecting Health, Wealth, and Wellness’, they describe a “marketplace” where a person “could create a rich digital-shopping experience” of options. Rather than building systems to benefit and serve the majority, this option could look to serve the minority as well. In a world of work where every 1% of productivity and improvement is scrutinized, there is much to take from this approach. Deloitte agrees, in their 2022 ‘Mental Health Report’, it was noted that “more targeted interventions that understand and fit the specific needs of different groups and individuals bring better outcomes than reactive approaches.”

These additional offerings can significantly contribute to employee satisfaction and well-being. Perks such as wellness programs, flexible working arrangements, and employee recognition initiatives create a positive work environment that promotes work-life balance and fosters employee loyalty. Taking this holistic approach to employee well-being by embracing the minority needs within a benefits package is crucial for organizations aiming to attract and retain top talent. By acknowledging the diverse needs of individuals, individual satisfaction is enhanced and drives overall business success by fostering a motivated and engaged workforce.

As the fintech industry continues to expand and collaborate with traditional financial players, the opportunities for career success are growing for individuals who join this field. As of 2023, efinancialcareers a career website, reported that of all fintech incumbents, 18% came from outside the industry, 26% from technology, and 47% from traditional banking and finance. The industry growth has seen a constant demand for new talent. As this grows, bringing people in from outside the space will become a more common occurrence. Fintech companies are actively seeking talent from outside the financial services space, and with more people from a variety of backgrounds, each business will need to foster more inclusive teams and harness the power of diversity. These individuals bring fresh perspectives and new ideas that can drive innovation and solve previously unidentified problems. In an industry in constant change, individuals whose skills can constantly transfer to new demands will be increasingly important. Regardless of whether it’s a disruptor bank, blockchain specialist, or cloud scale-up, there are transferable skills that are making a significant impact across the entire Fintech sector. Here are the top ten skills to look out for:

Coding

Proficiency in coding is highly sought after in the fintech community. With the constant evolution of products and the need to develop new systems and integrations, coding skills are essential in bringing these innovations to life. Every single business will need a team of coders, and finextra.com recently reported that the Top 4 Programming Languages for Fintech are Golang, Ruby, Python and Java. Firms that prioritize the reliability and quality of their systems build better reputations. Any errors or bugs in their systems can be harmful, and coders who drive high standards and adhere to testing processes are the most successful.

Cybersecurity

The increasing accessibility of systems and the expanding reach to partners and customers make cybersecurity one of the most in-demand skills. Fintech companies must prioritize the safety and security of their platforms and data. In a recent episode of my podcast, The DEI Discussions, I interviewed Elke Bachler, Cyber Security Executive, who said, “No matter what you do, there is always a chance of an incident” and “preparing for that incident and handling it well is just as important as preventing it.” Having the ability to understand technology as well as the business function, communicate technical cyber risks, debate solutions, and offer support is hugely important for evolving technology businesses.

Data Analysis, Machine Learning and AI

The ability to analyze and derive insights from data is crucial in the fintech industry. Data-driven decision-making and the ability to extract meaningful information from vast amounts of data can drive strategic growth and competitive advantage. The Consulting Firm BlueWeave produced research that predicts that AI within the Fintech market will “reach a value of USD 58.05 billion in 2029”, citing its benefits in “processing vast amounts of client data” to make easier and more efficient decisions. As fintech businesses look to build scalable products for mass consumer and partnership demand, this data analysis becomes even more important.

Growth Mindset

The fintech landscape is characterized by rapid change and evolving customer needs. The onset of Blockchain, distributed ledgers, cloud computing, low code, AI and open banking are just a few recent examples. Having a growth mindset, being adaptable, and embracing change are valuable traits that enable individuals to thrive in this dynamic environment, which is sure to change again in the coming years. This includes being able to debate and challenge positively. The book ‘The Growth Mindset’ by Rick Capozzi focuses its attention on the “human component of advisory services”. With a wealth management industry lens Rick Capozzi talks of the “Fintech Revolution” where, “Disruption is now the new normal, and successful leaders must be able to adapt quickly and operate with an eye toward growth.” Fintech companies value individuals who can contribute to constructive debates and challenge existing ideas. This skill fosters a culture of innovation, collaboration, and continuous improvement.

Effective Business-to-Technology to Customer Communication

Clear and concise communication is essential in the fintech industry. The CFTE (Centre for Finance, Technology and Entrepreneurship) produced a report called ‘New Skills in Financial Services’. These were the findings from a Roundtable at the Singapore Fintech Festival, during the Elevandi Insights Forum in late 2022. They cited communication as a “critical” soft skill in Fintech, explaining, “While the general perception is that hard skills are important, soft skills influence the success and progression of a career today.” The ability to effectively convey complex concepts, ideas, and solutions to various stakeholders, including sales teams, clients, and partners, is essential for success.

Enterprise Thinking

Fintech companies often deal with numerous interconnected systems and processes. Back in the 2010’s, IBM coined the approach ‘Enterprise Design Thinking’ and described it as a “powerful approach to innovation and brand differentiation, focused on creating experiences that delight customers.” The key to this approach is to focus on the outcome of the work undertaken, alongside constantly measuring the success of the outcome for the user it was intended for. When everyone involved in a fintech company is passionate about the mission and purpose, then innovation and impact become top priorities. This type of thinking is profound for roles in the product, implementation, change and transformation specialisms. The ability to think at an enterprise level, considering the bigger picture and understanding how different components work together, is highly valuable.

Technical Sales and Marketing

Sales and marketing in the fintech industry have become increasingly technical. The focus on the customer and their accessibility, usability and inclusion has opened up a wealth of opportunities for Fintech growth. This offers an exciting route into the Fintech world. CapGemini’s Research Institute produced a report called ‘The Customer Engagement Imperative: What banks can learn from the Fintech Playbook’ and highlighted how central the right sales and marketing skills are to a Fintech. The report stated, “The CMO today is expected to be the master of multiple disciplines, responsible for everything from managing budgets and ROI to developing new products and overseeing marketing technologies.” The ability to leverage technology and data to create targeted marketing campaigns and communicate the value of fintech products is crucial for attracting and retaining customers.

Strong Compliance Values

Compliance and regulatory adherence are vital in the heavily regulated financial industry. These regulations ensure best practice, safe strategies, customer due diligence and builds brand reputation. These are all of huge importance for newer businesses entering the marketplace. In a 2022 White&Case special publication titled, ‘Five ways in which Fintechs can lead the way in compliance best practices across Latin America’, it used examples from the region to highlight “inconsistencies” in legal requirements globally. It stated that fintechs are, “recognizing that they are on a path to the international stage, where having a strong compliance program provides strategic advantages and supports sustainable growth.” Fintech professionals with a strong understanding of compliance frameworks and a commitment to ethical practices are highly valued. When coming up with new solutions or ideas, it is crucial to have a strong sense of fairness and to follow guidelines to ensure they stay within the set parameters.

Accuracy and Efficiency Problem Solvers

Fintech operations require high levels of accuracy and efficiency to ensure smooth transactions and reliable services. The nature of the industry is solving problems and often problems that weren’t identified as problems before. A Deloitte Cloud Blog written in 2022 named ‘Effective Site Reliability Engineering (SRE) Requires an Observability Strategy’ points out the importance of being able to fully review a problem in the software or application to identify and rectify it for the future. Site Reliability Engineers and DevOps are fast-growing roles in the technology space and one that requires this burning desire to find the core route of a problem. This needs skills that include notetaking, documentation, logging and tracing back through details accurately and efficiently. Attention to detail, precision, and the ability to work in a fast-paced environment are key attributes for success.

Empathy and Partnerships

The complex nature of the fintech ecosystem means that businesses may need to partner with their peers, banks, regulators, consultancies, vendors, and customers. They need to listen to these partners and listen to their staff. In contrast to the rise of AI and automation, there is a growing need for empathy within the business, listening to feedback and acting upon it. The Accenture report ‘Banking on Empathy’ shares insights that financial institutions that are able to connect with their customer empathetically are more likely to gather meaningful data. The report provides evidence that individuals who possess empathy tend to “outperform their peers financially.” The ability to empathize and build partnerships is a valuable skill set that is relevant to many industries, including fintech. This presents an excellent opportunity for both individuals seeking to join the Fintech industry and businesses looking to acquire these skills.

By recognizing the importance of these transferable skills and actively seeking talent from diverse backgrounds, the fintech industry can continue to drive innovation, create impactful solutions, and shape the future of financial services. By considering transferable skills, the search for talent can expand beyond the usual pools, leading to faster growth potential for the sector. The opportunities for career growth and success in fintech are abundant, making it an attractive sector for individuals looking to make a difference in the world of finance.

How can a company succeed without the right people leading the way? When it comes to attracting those exceptional individuals, are we still relying on outdated methods? The Association for Psychological Science has built numerous reports over the years on the speed at which a first impression is made in an interview. What about a lasting impression? And, how can you effectively position yourself when there is high demand for talent and many competitors seeking the same resources? Interviews are a great way to assess whether someone can do the job you want them to do. This should also serve as your chance to explain why this job is beneficial and will bring value to the person who is applying for it. There are important factors to consider in order to give your growing fintech company a competitive edge in the interview process.

Interviews as a Fit Assessment for Sustainable Growth

It’s crucial to recognize that interviews are no longer about simply passing a test; they are about finding the right fit, someone who can grow with your organization. According to a survey conducted by LinkedIn, 68% of talent professionals and hiring managers believe that assessing culture fit is crucial for hiring success. It’s about building a relationship based on trust and moving away from traditional environments that focus on control. The goal is not to catch candidates off guard but to truly understand and connect with them with a view to understanding how both parties can grow successfully together.

Gone are the days of simply filling a vacancy. Skills are acquired and developed as individuals progress and learn. The notion of fitting someone into a predefined set of skills no longer leads to finding a person who will thrive in the long term. A PWC report showed that 80% of CEOs felt that gaining new skills in the workforce was their biggest challenge. This requires not only the ability to attract those people but to retain and teach them something new.

Revolutionizing Interview Formats for Enhanced Engagement and Candidate Assessment

Panel interviews belong to the past. They limit ideation, creativity, and even the potential for proper assessment. Instead, consider fostering open discussions or team introductions that encourage conversation about mission, values, and culture. Discussion-based interviews foster a more interactive and engaging experience for candidates and allow you to find out more than you had previously considered. According to a survey conducted by Glassdoor, 73% of candidates prefer a conversational interview style over traditional Q&A formats.

Engaging in discussions provides more time for candidates to drive the agenda, revealing valuable insights into their commitment beyond their job capabilities alone. You can leverage this opportunity to establish trust and confidence from day one, using the interview as the starting point for their onboarding and your ongoing relationship. In a market with high-profile tech layoffs, this is crucial when addressing funding stability and demonstrating how you support career growth. As Morgan McKinley reported, with the estimated 200,000 tech layoffs in the first half of 2023, career transitions were on the up and the hugely talented workers were expecting their skills to be leveraged in new ways. By discussing your firm’s growth mindset and emphasizing that the hire is about personal learning and development, you gain a deeper understanding of what motivates candidates. Moving away from traditional checkbox questions opens up conversations about trust, loyalty, passion, drive, motivation, and most importantly, potential.

Building Trust through a Focus on Learning and Growth

When candidates are interested in learning about your fintech company’s mission and growth vision, it is important to be transparent and share information about your company. This will make the experience more enjoyable and memorable for them. Emphasize the collaborative nature of the fintech environment, where everyone contributes and roles are not siloed. Moreover, there is an increasing trend of collaboration between the fintech and banking industries, which is creating better opportunities for innovation. As the Australian Financial Review posted, partnerships internally and cross-sector will be fundamental to the entire industry and to the people within it.

A focus on how this will enhance a person’s career journey and acquisition of new skills will have a positive impact. By linking this to your company’s culture and commitment to growth, it shows potential new hires that they also have growth potential by joining your team. A study published in The HR & Employment Engagement Community found that hiring employees who align with the company’s culture leads to higher job satisfaction, engagement, and retention. By involving different people in the interview process to showcase their experiences, you not only reflect the company’s culture but also enable meaningful conversations about fit.

Viewing your interview process as a positive experience in itself, provides a competitive advantage. Will candidates share positive feedback about you? Will they recommend your company even if they didn’t get the job? The concept of cultivating “raving fans”, individuals who enthusiastically promote your business, was introduced in the book “Raving Fans” by Kenneth Blanchard and Sheldon Bowles. Creating a positive impression can influence their perception of your organization and potentially attract others to join your team.

The talent market is ever-evolving, and growing companies should never become complacent in how they present themselves, even when candidate access seems easy. It’s important not to abuse the power of control or favorable market conditions as they are in a constant state of flux and people have long memories. Investing in your people and their experience with your company starts during the interview process. A good interview sets the stage for a great talent journey within your organization.